February 3, 2016 / 5:18 PM / in 2 years

BUZZ-U.S. STOCKS ON THE MOVE-Chipotle, Buffalo Wild Wings, Marathon Petroleum

(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) U.S. stocks gave up early gains and turned negative on Wednesday after data showed that the economy's service sector expanded at a slower-than-expected rate, raising concerns that weakness in manufacturing is spreading to other sectors. The Dow Jones industrial average was down 0.09 percent at 16,139.43, the S&P 500 was down 0.63 percent at 1,890.98 and the Nasdaq Composite was down 1.07 percent at 4,468.47.

** CHIPOTLE MEXICAN GRILL INC, $461.04, -3.08 pct

The burrito chain said a federal criminal probe linked to a food-safety incident at a California restaurant has widened into a national investigation. Fourth-quarter sales at established restaurants fell 14.6 percent, the first decline in Chipotle’s 10-year existence as a public company.

** BUFFALO WILD WINGS, $142.25, -5.17 pct

Johnson County’s Department of Health and Environment was investigating reports of gastrointestinal illness that has sickened at least 10 people who visited BWLD’s Grill and Bar in Overland Park, Kansas

** MARATHON PETROLEUM CORP, $36.39, -9.64 pct

** MPLX LP, $23.565, -19.08 pct

Refiner Marathon Petroleum said on Wednesday its pipeline unit, MPLX LP, would increase dividends at a slower-than-expected pace this year, as its cash flow is hit by a fall in volumes of natural gas and natural gas liquids.

** GILEAD SCIENCES INC, $85.69, +3.61 pct

The company’s hepatitis C drug sales edged past Wall Street estimates in the fourth quarter, helped by strong sales in Japan, but U.S. results were weaker than expected.

** GLAXOSMITHKLINE PLC, $41.92, +2.49 pct

Growing demand for new drugs helped GlaxoSmithKline beat forecasts for fourth-quarter earnings by a small margin on Wednesday, offsetting a continued slide in sales of its older Advair respiratory medicine.

** PRUDENTIAL PLC, $36.17, +3.91 pct

Barclays reiterated “overweight” on the company’s stock and Societe Generale kept “buy” rating. Brokerages say concerns regarding tightening restrictions on insurance products in China are overdone.

** YAHOO INC, $27.46, -5.51 pct

Yahoo said on Tuesday it would consider “strategic alternatives” for its core Internet business and cut about 15 percent of its workforce, even as it continues with its plan to revamp the business and spin it off.

** MATCH GROUP INC, $10.39, -14.77 pct

The owner of popular dating site Match.com and mobile app Tinder on Tuesday reported quarterly revenue that fell short of analysts’ expectations, hurt by a drop in revenue from its non-dating services.

** ILLUMINA INC, $145.68, -5.81 pct

The diagnostic test provider’s fourth-quarter profit missed analysts’ estimates, hurt by higher costs.

** LOWE’S COS INC, $66.71, -7.18 pct

The U.S. home improvement retailer agreed to buy Canada’s Rona Inc in a deal valued at C$3.2 billion ($2.28 billion), winning over Rona’s board with a far higher offer than its previous unsolicited bid more than three years ago that was opposed by the company and politicians in Quebec.

** SYNGENTA AG, $80.18, +2.05 pct

China made its boldest overseas takeover move yet when state-owned ChemChina agreed a $43 billion bid for Swiss seeds and pesticides group Syngenta on Wednesday. The largest ever foreign purchase by a Chinese firm, announced by both companies, will accelerate a shake-up in global agrochemicals and marks a setback for U.S. firm Monsanto .

** NATIONAL OILWELL VARCO INC, $27.4, -10.66 pct

The largest U.S. oilfield equipment provider, reported a loss for the fourth quarter, compared with a profit a year earlier, as it took a $1.63 billion charge.

** BOOT BARN HOLDINGS INC, $7.38, +33.45 pct

The retailer’s revenue, profit beat estimates, helped by higher merchandise margins. Revenue topped market estimates for the first time in three quarters.


The wind turbine maker is to be bought by consortium of investors, including its chief executive, in an all-cash transaction for about $408 million.

** NOVO NORDISK A/S, $51.38, -6.68 pct

The Danish insulin maker revised its long-term profit growth target to 10 percent from 15 percent on assumption of a continuation of the current business environment.


The drug developer said its experimental drug emricasan gets fast-track status from U.S. FDA for the treatment of liver cirrhosis caused by nonalcoholic steatohepatitis.

** AUTODESK INC, $49.82, +8.56 pct

The company said it will cut legacy costs as part of restructuring plan to accelerate progression to the cloud.

** HEAT BIOLOGICS INC, $1.9567, -20.13 pct

U.S. FDA has placed Heat’s mid-stage trial on partial clinical hold after company said it had misidentified the cell line on which its cancer drug, HS-410, is based.

** EDWARDS LIFESCIENCES CORP, $82.89, +7.78 pct

At least eight brokerages raised price targets after the company raised its full-year earnings forecast on Tuesday anticipating stronger sales of its artificial heart valves.

** JAGUAR ANIMAL HEALTH INC, $2.25, -17.58 pct

The animal vaccine developer priced offering of 2 million shares of common stock at $2.50 per share. The price is at a discount of 8.4 percent to Tuesday’s close.

** ENERGIZER HOLDINGS INC, $36.24, +14.76 pct

Eveready battery maker reported a better-than-expected first-quarter profit, helped by higher prices and lower costs. (Compiled by Arunima Banerjee in Bengaluru; Edited by Shounak Dasgupta)

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