April 26, 2016 / 5:27 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Sarepta, Dupont, Ironwood, Pioneer Natural

(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 pared early gains and was little changed in late morning trading on Tuesday, weighed down by quarterly results of Dow components 3M and Procter & Gamble. The Dow Jones industrial average was down 0.02 percent at 17,972.83, the S&P 500 was up 0.09 percent at 2,089.7 and the Nasdaq Composite was down 0.14 percent at 4,889.089.

** SAREPTA THERAPEUTICS INC, $11.15, -25.42 pct

An experimental drug, from Sarepta, to treat Duchenne muscular dystrophy, a devastating degenerative disease that mostly affects boys, has not been proven effective, a U.S. advisory panel concluded on Monday. Oppenheimer cuts stock to “perform” from “outperform”, Suntrust Robinson to “reduce” from “neutral”, Piper Jaffray cuts to “underweight”.


British drugmaker AstraZeneca Plc said on Tuesday Ironwood Pharmaceuticals would buy the U.S. marketing rights for its newly approved gout drug for up to $265 million.

** ARATANA THERAPEUTICS INC, $7.11, +2.89 pct

The pet drug developer said Eli Lilly and Co unit Elanco Animal Health was licensed rights to its galliprant tablets, an FDA-approved therapeutic for the control of pain and inflammation associated with osteoarthritis in dogs.

** T-MOBILE US INC, $39.8, -3.35 pct

The company reported a 10.6 percent rise in quarterly revenue and raised its forecast for customer additions as heavy discounts helped the No.3 wireless carrier attract more subscribers.

** ELI LILLY AND CO, $76.63, -1.68 pct

The drugmaker on Tuesday reported sales above Wall Street expectations and slightly raised its profit view for the full year, citing a tax benefit but profit missed due to a strong dollar.

** TROVAGENE INC, $4.46, -5.71 pct

Half of 6 brokerages covering the The molecular diagnostic company’s stock cut their rating after Trovagene on Monday named Bill Welch CEO and said Chief Commercial Officer Matthew Posard has left.

** ICON PLC, $68.4, -7.38 pct

The Contract research organization reported lower-than-expected Q1 sales. Icon assists drugmakers with clinical development - from compound selection to late-stage clinical studies.

** PIONEER NATURAL RESOURCES, $163.805, +6.71 pct

At least 5 analysts raise PTs after the oil and gas producer posted smaller-than-expected Q1 loss, raises production growth expectation, maintains 2016 capex.

** GULFMARK OFFSHORE INC, $5.48, -6.32 pct

The offshore rig contractor reports bigger-than-expected Q1 loss on Monday, hurt by falling day rate and utilization amid prolonged oil slump

** NABORS INDUSTRIES LTD, $9.205, -11.23 pct

The contract driller posted Q1 loss, compared with year-earlier profit.

** DUPONT, $67.6, +2.47 pct

The company’s first-quarter results beat Wall Street estimates and the chemicals and seed producer raised its full-year guidance as it sees lower currency impact than expected. The company said on Tuesday it expected the U.S. Securities and Exchange Commission’s review of its proposed merger with Dow Chemical Co would be completed by the end of June.

** HERSHEY CO, $89.12, -2.46 pct

The maker of Hershey’s Kisses and Reese’s Peanut Butter Cups, reported a drop in net sales for the third quarter in a row, hurt by weak demand in North America, the chocolate maker’s biggest market.

** CAPITAL PRODUCT PARTNERS, $2.8, -26.89 pct

The Greece-based drybulk shipper reports Q1 EPS of 8 cents vs the average analyst estimate of 10 cents.

** BAXTER INTERNATIONAL INC, $44.1, +1.08 pct

Baxter International Inc reported a better-than-expected quarterly profit and lifted its adjusted earnings forecast for 2016.

** COACH INC, $41.65, +3.63 pct

The handbag maker, which has been trying to regain its cachet in the luxury handbag market, reported an 11 percent rise in quarterly sales, spurred by demand in China and Europe.

** CONTAINER STORE GROUP INC, $7, +20.07 pct

The storage products retailer reports a surprise rise in Q4 same-store sales, helped by sales across non-TCS closets and non-elfa areas of the store during last two months the quarter.

** KNOWLES INC, $15.13, +16.30 pct

The audio products and hearing aid component maker reports better-than-expected Q1 profit and revenue, helped by strong microphone sales to North American and Korean smartphone customers.

** CENTENE CORP, $66.74, +6.17 pct

The health insurer reported a a near 36 percent jump in quarterly revenue, helped by higher enrollments in its Medicaid plans for low-income families and the acquisition of rival Health Net.

** TECK RESOURCES LTD, $10.92, +6.23 pct

The Canadian miner reported a surprise quarterly profit as cost-cutting measures and a weak Canadian dollar helped cushion the impact of lower coal and copper prices.

** 3M CO, $166.04, -1.39 pct

The diversified manufacturer 3M Co reported a 2.2 percent fall in quarterly revenue as sluggish economic growth in emerging markets including China hurt demand and a strong dollar eroded the value of sales from outside the United States.

** PROCTER & GAMBLE CO, $79.5, -2.35 pct

The company’s quarterly sales fell 7 percent as demand for grooming and health care products weakened and a strong dollar ate into revenue from outside the United States.

** THE NEW YORK TIMES CO, $13.1, +1.12 pct

The company said on Tuesday it would close its editing and print production operations in Paris, resulting in the elimination or relocation of up to 70 jobs. (Compiled by Rosmi Shaji in Bengaluru)

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