April 22, 2016 / 4:26 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Microsoft, Alphabet, Norfolk, BJ's Restaurants

(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 a slew of disappointing earnings reports from Microsoft and other major companies eclipsed a surge in oil prices which boosted energy shares. The Dow Jones industrial average was down 0.22 percent at 17,943.62, the S&P 500 was down 0.36 percent at 2,083.96 and the Nasdaq Composite was down 1.27 percent at 4,883.315.

** ALPHABET INC, $733.16, -6.01 pct

Google’s parent company missed Wall Street targets for first-quarter profit and revenue on Thursday as it spent more money to build traffic for its mobile advertising services.

** MICROSOFT CORP, $51.92, -6.92 pct

The software company reported results that fell short of analysts’ expectations, showing its high-profile cloud business cannot quite make up for a slowing personal-computer market.

** KIMBERLY-CLARK CORP, $125.68, -4.61 pct

The personal care product maker reported lower-than-expected first-quarter sales, hurt by a strong dollar.

** STARBUCKS CORP, $57.27, -5.56 pct

The world’s largest coffee chain posted quarterly cafe sales that missed analysts’ growth estimates for every region where it operates and issued a disappointing full-year forecast.

** VISA INC, $78.13, -3.29 pct

The world’s largest payments network operator lowered its full-year revenue forecast blaming lack of improvement in cross-border spending.

** NORFOLK SOUTHERN CORP, $90.7, +9.77 pct

Credit Suisse raised its rating on the railroad operator’s stock to “outperform” from “neutral”. UBS upgraded to “buy” from “neutral” after earnings handily beat analysts’ estimate.

** HNI CORP, $43.42, +7.24 pct

The office furniture maker on Thursday reported better-than-expected first-quarter profit, helped by reduced costs.

** BJ’S RESTAURANTS INC, $44.69, +9.53 pct

The casual dining restaurant operator reported better-than-expected first-quarter profit helped by new menus focusing on lunch items.

** BRIGGS & STRATTON CORP, $21.31, -7.51 pct

The gasoline engine producer reported lower-than-expected third-quarter profit and revenue partly due to weak international sales, which were hit by delayed start to European lawn and garden market and stronger dollar.


** PERRIGO CO PLC, $122.0025, -5.19 pct

Drugmaker Valeant is seeking to appoint Perrigo boss Joseph Papa as its new chief executive, a source familiar with the matter said.

** LAKELAND INDUSTRIES INC, $9.55, -12.39 pct

The hazardous materials suit maker reported a 19 percent decline in fourth-quarter on Thursday.

** YORK WATER CO, $28.3499, -9.28 pct

Hilliard Lyons downgraded the water purifier and distributer’s stock to ‘underperform’ from ‘neutral’, citing “ominous valuation”.

** SOUTHWESTERN ENERGY CO, $11.62, +8.90 pct

** TRANSOCEAN LTD, $10.79, +2.47 pct

** RANGE RESOURCES CORP, $39.07, +5.11 pct


** EXXON MOBIL CORP, $87.05, +0.30 pct

** CHEVRON CORP, $101.82, +0.41 pct

Oil prices jumped more than 2 percent to $45.45 per barrel on Friday and were poised for a third week of gains as market sentiment turned more upbeat amid signs a persisting global supply glut may be easing.

** ADVANCED MICRO DEVICES INC, $3.62, +38.17 pct

The struggling chipmaker’s forecast implied that the company could post a surprise rise in current-quarter revenue, ending a run of six quarters of declines, helped by strong demand for its chips and a new licensing deal.

** GENERAL ELECTRIC CO, $30.43, -1.78 pct

The U.S. conglomerate reported a higher-than-expected first-quarter profit on Friday, but organic revenue fell 1 percent, raising questions about the company’s full-year revenue target.

** AUTONATION INC, $49.37, +2.75 pct

The largest U.S. auto dealership chain reported a 14 percent fall in quarterly profit as costs rose.

** HONEYWELL INTERNATIONAL INC, $113.34, -1.37 pct

The aircraft equipment maker posted a 6.3 percent rise in quarterly profit, helped by strength in its automation and climate control systems businesses. (Compiled by Sruthi Shankar in Bengaluru; Editing by Don Sebastian)

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