October 27, 2015 / 6:09 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Rite Aid, GrubHub, Consol Energy

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) Wall Street was lower on Tuesday after mixed earnings reports from major U.S. companies, weaker-than-expected data and further declines in crude oil prices. The Dow Jones industrial average was down 0.27 percent at 17,574.71, the S&P 500 was down 0.43 percent at 2,062.37 and the Nasdaq Composite was down 0.25 percent at 5,021.955.

** ALIBABA GROUP HOLDING LTD, $79.43, +4.03 pct

** YAHOO INC, $34.25, +2.54 pct

** JD.COM INC, $27.53, +2.57 pct

** VIPSHOP HOLDINGS LTD, $20.26, +2.17 pct

Chinese e-commerce giant Alibaba is squeezing more money from online shopping than expected, beating analysts’ forecast for revenue growth.

Smaller rivals JD.com and Vipshop also rise.

BREAKINGVIEWS-Alibaba’s mobile signal drowns out growth fears

** RITE AID CORP, $8.495, +39.72 pct

Drugstore operator Walgreens Boots Alliance Inc is in advanced talks to buy smaller rival Rite Aid, the Wall Street Journal reported, citing people familiar with the matter.

** FORD MOTOR CO, $14.895, -5.01 pct

The auto maker reported sharply higher quarterly profit, driven by its record quarterly performance in North America, but missed Wall Street estimates because of higher taxes.


The executive search advisory firm reported better-than-expected Q3 profit and revenue due to strong demand for executive search and leadership consulting and higher productivity by its consultants.

** GRUBHUB INC, $24.32, -24.21 pct

The online food order and delivery company reported third-quarter profit and revenue below market expectations, hurt by higher costs and service disruptions.

** RIVER VALLEY BANCORP, $32.47, +45.08 pct

The Jasper, Indiana-based German American Bancorp said on Monday it would buy River Valley for $84 mln in a cash-and-stock deal.

** FRANKLIN ELECTRIC CO INC, $33, +19.00 pct

The pump and motor maker forecast fourth-quarter profit of 34-37 cents per share, above the average analyst estimate of 32 cents, citing rise in adjusted operating income due to cost cuts and price actions.

** AMKOR TECHNOLOGY INC, $6.38, +12.92 pct

The semiconductor assembling and testing company reported better-than-expected third-quarter profit and revenue, helped by favorable exchange rates.

** MAGELLAN HEALTH INC, $53.88, +11.41 pct

The managed care company’s adjusted quarterly profit beat estimates by a wide margin. The company attributed the beat to strong performance in its pharmacy benefit management business.

** DUPONT, $61.96, +2.63 pct

The chemical and seed maker is in talks with rivals for its agriculture business, interim Chief Executive Edward Breen said , less than a week after Dow Chemical Co announced a review of its farm chemicals and seeds unit.

** CONSOL ENERGY INC, $6.98, -21.22 pct

** PEABODY ENERGY CORP, $17.36, -19.85 pct

Consol said it expects falling U.S. coal demand to result in idling of mines across basins and forecast fourth-quarter E&P capital to “decline significantly” compared with past three quarters. Peabody said it expected a decline in U.S. coal demand and coal shipments in 2015.

** PERSEON CORP, $0.6908, +155.85 pct

The medical device maker is being bought by privately owned Galil Medical for about $11 million.


The insurer reported third-quarter profit below estimates. “While part of the decline in core earnings is a result of lower alternative investment returns, underlying insurance results and fixed income, portfolio returns were also poorer,” Morningstar says.

** FRESH DEL MONTE PRODUCE INC, $45.97, +9.14 pct

The company’s third-quarter net sales rise 5.6 percent, beating estimates after missing in second quarter. Sales helped by higher prices for fresh produce and strong demand for avocados.

** ENDOLOGIX INC, $9.23, -32.77 pct


Medical device maker Endologix to buy Trivascular Technologies for $9.10/share or about $211 million.

** TWIN DISC INC, $11.595, -14.87 pct

The power transmission equipment maker’s first-quarter revenue below analysts’ estimates due to weak demand for its oil and gas pressure-pumping transmission systems.

** UNITED THERAPEUTICS INC, $137.08, +8.77 pct

The company reported better-than-expected third-quarter results, driven by robust sales of its pulmonary arterial hypertension products.

** DECKERS OUTDOOR, $50.92, -6.29 pct

Sterne Agee analysts estimated UGG brand sales (54 percent of first-quarter net sales) are down and falling further with each passing day. Analyst Samuel Poser said he expects Deckers to cut third-quarter forecasts due to falling UGG sales, strong dollar and poor visibility into holiday sales.


The owner of Burger King and Tim Hortons reported a better-than-expected quarterly profit, helped by new menu items and lower costs.

** COACH INC, $31.55, +4.06 pct

The Poppy handbags maker reported its slowest drop in quarterly sales in more than two years as the company’s efforts to shed its staid image and woo back customers with new products paid off.

** WATSCO INC, $118.23, -9.53 pct

The air conditioning equipment distributor reported Q3 profit below analysts’ average estimate as selling, general and administrative expenses rose 3.3 percent.

** ARCH COAL INC, $1.5, -25.37 pct

The U.S. coal miner moved closer to bankruptcy after it gave up on a debt swap proposal that had been aimed at boosting its liquidity.

** MARVELL TECHNOLOGY GROUP, $7.96, -15.72 pct

The company said PricewaterhouseCoopers LLC resigned as its independent registered public accountant, effective Oct 20.

** HI-CRUSH PARTNERS LP, $5.65, -16.17 pct

The frac sand producer reports bigger-than-expected Q3 loss, hurt by writedown of assets acquired from D&I Silica and severance costs.

** RENT-A-CENTER INC, $18.37, -28.74 pct

The rent-to-own home furniture retailer forecast fourth quarter and full-year profit below analysts’ estimates as sales in United States fall due to lower store count and higher sales of low-margin merchandise such as smartphones. Touches five-year low of $19.05

** BIO BLAST PHARMA LTD, $5.389, +6.92 pct

The drug developer said its lead experimental drug showed signs of being effective in treating patients with a rare muscle wasting disorder, besides also hitting the main goals of safety and tolerability.


The Transportation and logistics service provider expects Q3 revenue of $490 million -$500 million, down from previous forecast of $530 million-$555 million.

** PACIRA PHARMACEUTICALS INC , $48.51, +17.94 pct

The drugmaker’s revenue for the third quarter top estimates for the first time in five quarters, on strong sales of analgesic product Exparel.

** CTI BIOPHARMA CORP , $1.4202, -15.46 pct

The drug developer prices offering of 50,000 shares of its series N-1 preferred stock at $1,000 per share. Each share of the series N-1 preferred stock is convertible into 800 shares of common stock at a conversion price of $1.25 per share of common stock.

** RADIAN GROUP, $14.21, -12.01 pct

** D.R. HORTON, $29.78, -3.69 pct

** VULCAN MATERIALS, $90.75, -1.36 pct

Radian’s third-quarter earnings per share falls short of estimates. The U.S. first-lien residential mortgage insurance company’s earnings from mortgage and real estate services hurt by weak sales in housing sector.

The PHLX housing index falls 1.4 percent, extending declines for a second day.

** CUMMINS INC, $102.52, -8.55 pct

The diesel engine maker posted lower-than-expected quarterly profit and said it would lay off up to 2,000 people as global economic weakness continued to weigh on its international sales.

** T-MOBILE US INC, $38.52, -6.91 pct

The No.3 U.S. wireless carrier reported lower-than-expected quarterly revenue and profit, hurt by its initiatives such as lower-priced plans to attract monthly users away from competitors.

** IAC/INTERACTIVECORP, $64.135, -5.08 pct

Media mogul Barry Diller’s company reported a quarterly profit that narrowly beat analysts’ estimates, as its online dating services such as Match.com attracted more paying customers.

** AK STEEL HOLDING CORP, $2.28, -2.56 pct

The steel maker swung to a quarterly profit, helped by higher automotive shipments and lower raw material costs.

** TEXTRON INC, $40.5, +4.33 pct

The Cessna jet maker posted third-quarter profit above the average analyst estimate on higher sales in its aviation business and higher Textron segment profit.

Reporting by Rosmi Shaji in Bengaluru; Editing by Sriraj Kalluvila

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