January 22, 2016 / 6:29 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Apple, Cardiovascular, Golar, Mitel

(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 rallied on Friday, heading toward its first positive week of 2016, as a cold snap in the United States and Europe helped send oil prices surging for a second day. The Dow Jones industrial average was up 1.04 percent at 16,048.28, the S&P 500 was up 1.72 percent at 1,901.11 and the Nasdaq Composite was up 2.23 percent at 4,571.693.

** APPLE INC, $100.2, +4.05 pct

The tech giant’s stock rose as Piper Jaffray’s Gene Munster wrote in a client note that investors should buy into Apple heading into its results next week and over the next month.

** AMERICAN EXPRESS CO, $54.98, -12.23 pct

At least nine brokerages including Citigroup, Credit Suisse and Barclays cut their price target on the stock by as much as $28 to as low as $58 after the credit card issuer’s disappointing 2016 earnings forecast.

** SCHLUMBERGER LTD, $64.58, +5.09 pct

The world’s No.1 oilfield services provider unveiled a $10 billion share buyback program and reported a slightly better-than-expected quarterly profit as it cut costs to weather a prolonged slump in oil prices.

** LEGACY RESERVES, $1.24, -12.68 pct

The MLP suspended distributions to both common and preferred unitholders.

** GOLAR LNG LTD, $16.93, +41.79 pct

The LNG company signed an MoU with Schlumberger for the global development of greenfield, brownfield and stranded gas reserves.

** 8X8 INC, $12.27, +9.95 pct

The communications services provider reported third-quarter revenue and adjusted profit above analysts’ average estimate, helped by higher revenue from business customers and mid-market segment.

** CARDIOVASCULAR SYSTEMS INC, $8.36, -32.91 pct

The heart device maker on Thursday reported second-quarter revenue below Wall Street expectations, and forecast smaller-than-expected third-quarter revenue.

** SVB FINANCIAL GROUP, $107.11, +11.97 pct

The diversified financial services provider posted a better-than-expected fourth quarter earnings late on Thursday, helped by lower loan loss provisions.

** AGILE THERAPEUTICS, $6.355, -9.99 pct

The women’s health drug developer priced an offering of 5.51 million shares at $6.35, a 10.1 percent discount to the company’s Thursday close.

** GENERAL ELECTRIC CO, $28.16, -1.50 pct

The U.S. conglomerate’s fourth-quarter revenue missed estimate, hurt by weakness in divisions catering to the oil and gas industries.

** XENOPORT INC, $5.03, +5.01 pct

The U.S. biopharmaceutical company, focused primarily on treatments for restless leg syndrome, is in the early stages of exploring a potential sale, according to people familiar with the matter.

** LDR HOLDING CORP, $19.11, -10.99 pct

Wells Fargo Securities cut rating on the medical device maker’s stock to “market perform” from “outperform”.

** FREEPORT-MCMORAN INC, $4.06, -6.24 pct

Citi analysts cut price target on the energy and mining company’s stock to $4.50 from $8, saying Freeport is likely to burn cash for foreseeable future.

** MITEL NETWORKS CORP, $7.2, +19.01 pct

The Canadian telecom services provider said it will make a $25 million payment against its existing credit facility.

** AMAZON, $596.84, +3.79 pct

The online retailer plans to create several thousand jobs in Europe in 2016, more than 2,500 of which will be in Britain, stepping up its expansion in the region, it said on Friday.


United Airlines, a part of United Continental, forecast a higher profit margin for the first quarter on Thursday, helped by a windfall from cheap jet fuel, but warned that the collapse in oil prices is hurting demand for travel from energy center Houston, one of its main hubs.

** SIGNATURE BANK, $135.935, -2.27 pct

The commercial bank offered 2.2 million shares at $136/share, a discount of 2.2 percent to Thursday’s close.

** EXXON MOBIL CORP, $75.84, +2.35 pct

** CHEVRON CORP, $82.81, +2.17 pct

** SCHLUMBERGER LTD, $64.58, +5.09 pct

** HALLIBURTON CO, $29.88, +2.01 pct

** CHESAPEAKE ENERGY CORP, $3.685, +3.80 pct

** OCCIDENTAL PETROLEUM, $62.71, +3.06 pct

** DEVON ENERGY, $25.19, +4.18 pct

** ANADARKO PETROLEUM CORP, $35.47, +5.72 pct

Oil and gas companies’ stocks climbed after crude prices rose by more than 6 percent with cold snap boosting short-term demand in the United States and Europe. (Compiled by Manish Parashar in Bengaluru; Editing by Maju Samuel)

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