February 5, 2016 / 4:22 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-LinkedIn, Multi-Fineline, Immunomedics, Tableau, ArcelorMittal

(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 Friday after data showing a surge in wages in January and an eight-year low unemployment rate kept the prospects of a Fed rate hike alive this year. The Dow Jones industrial average was down 1.18 percent at 16,223.08, the S&P 500 was down 1.52 percent at 1,886.26 and the Nasdaq Composite was down 2.58 percent at 4,393.071.

** LINKEDIN CORP, $116.01, -39.67 pct

The operator of the world’s largest online network for professionals forecast first-quarter revenue and profit below Wall Street estimates as growth slows in its ads business and its hiring services face pressure outside North America, dragging its shares down 28 percent after the bell.


The electronics chip maker agreed to be acquired by China’s Suzhou Dongshan Precision Manufacturing Co Ltd in about $610 million all-cash deal.

** IMMUNOMEDICS INC, $2.36, +29.67 pct

The drug developer said its breast cancer drug received breakthrough therapy designation from U.S. FDA, helping it to speed up development and review of drug.

** TYSON FOODS INC, $57.37, +10.43 pct

The biggest U.S. meat processor raised its full-year profit forecast, helped by a sharp drop in feed and livestock costs.

** SYMANTEC CORP, $19.99, +4.22 pct

The company, best known for its Norton antivirus software, said Silver Lake Partners had invested $500 million in the company and that the private equity firm would get a board seat.

** TABLEAU SOFTWARE INC, $43.92, -46.28 pct

The company posted top and bottom line beat, but license revenue growth, a key barometer, missed expectations.

** HESS CORP, $38.87, -10.58 pct

The oil producer launched dual offerings. It announced 25 million shares of common stock at $39 versus $43.47 last year and 10 million depositary shares at $50, representing an interest in 3-year, mandatory convertible preferred stock.

** HANESBRANDS INC, $25.46, -13.37 pct

The apparel maker and retailer reported surprise fall in its fourth-quarter net sales due to a drop in traffic at its stores.

** ARCELORMITTAL SA, $3.84, -7.02 pct

The world’s largest steelmaker, launched plans on Friday for a $3 billion share issue to help reduce debt and cut costs, having been hit by a plunge in steel prices which it blamed on a surge in cheap exports from China. The company forecast on Friday that global apparent steel demand would rise by up to 0.5 percent in 2016.

** SIERRA WIRELESS INC, $11.4, -22.40 pct

Canadian wireless equipment maker reported lower-than-expected fourth-quarter earnings and revenue, hurt by fall in demand from its original equipment manufacturer (OEM) customers.

** QUOTIENT LTD, $7.98, -22.52 pct

The diagnostic company priced public offering of 4.4 million shares at $9, representing a 12.6 percent discount to stock’s Thursday close.

** OUTERWALL INC, $27.53, -15.78 pct

Redbox DVD rental kiosk owner forecast full-year 2016 core earnings of $5.00-$6.30 per share from continuing operations, below average analyst estimate of $7.14 per share.

** YRC Worldwide Inc, $7.68, -28.29 pct

The trucking company’s fourth-quarter adjusted EPS misses analysts’ expectations due to a decrease in fuel surcharge revenue.

** ELIZABETH ARDEN INC, $6.02, -24.94 pct

The perfume maker posted lower-than-expected second-quarter sales, hurt by weak demand in North America.

** UBIQUITI NETWORKS INC, $33.1248, +18.01 pct

The wireless networking equipment maker reported better-than-expected second-quarter profit and revenue, helped by higher demand for its service provider technology.

** LINE ENERGY LLC, $0.6018, -49.85 pct

** LINNCO LLC, $0.352, -64.80 pct

Linn Energy announced strategic alternatives on Wednesday to revive its balance sheet and sustain slump in oil prices. The company said it recently exhausted its credit facility.

** SPLUNK INC, $35.93, -23.70 pct

Pacific Crest cuts the data analytics software maker’s price target to $67 from $82, citing “eroding macroeconomic conditions” and investor concerns that “high-growth technology companies may witness a sharper deceleration in growth rates”.

** GENWORTH FINANCIAL INC, $2.285, -18.10 pct

The mortgage and life insurer reported fourth-quarter operating loss of 17 cents per share versus profit estimate of 21 cents per share.

** USG Corp, $19.79, +3.56 pct

The building supplies maker posted higher-than-expected fourth-quarter profit, helped by reduced costs and increased pricing in its Gypsum and Ceilings businesses. (Compiled by Arunima Banerjee in Bengaluru; Edited by Shounak Dasgupta)

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