May 20, 2016 / 2:53 PM / in 2 years

BUZZ-U.S. STOCKS ON THE MOVE-Applied Materials, Campbell Soup, Interoil, DryShips

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Wall Street opened higher on Friday, boosted by technology and financial stocks. The Dow Jones industrial average was up 0.64 percent at 17,547.75, the S&P 500 was up 0.72 percent at 2,054.64 and the Nasdaq Composite was up 1.20 percent at 4,769.313.

** APPLIED MATERIALS INC, $22.72, +14.11 pct

** MICRON TECHNOLOGY INC, $10.52, +4.47 pct

** BROADCOM LTD, $146.66, +2.75 pct

Applied Materials, the world’s largest supplier of tools used to make semiconductor chips, forecast a higher-than-expected third-quarter profit on the back of strong demand for chips used in smartphones and solid-state drives.

** CAMPBELL SOUP CO, $60.01, -6.21 pct

The world’s largest soup maker reported lower-than-expected third-quarter sales, mainly due to weak U.S. demand for its soups and V8 vegetable- and fruit-based juices, and weather-related disruptions to carrot supply.


The beleaguered Canadian drugmaker said it received a notice of default from bondholders for the delay in filing its first-quarter report.

** INTEROIL CORP, $42.82, +35.29 pct

Australia’s Oil Search Ltd agreed to a $2.2 billion deal to acquire InterOil, aiming to pave the way for two rival liquefied natural gas projects led by global majors to work together in Papua New Guinea.

** DEERE & CO, $78.14, -5.00 pct

The company cut its profit outlook and reported a decline in quarterly earnings as a global farm recession and weak construction equipment markets led to lower sales of its machinery.

** DRYSHIPS INC, $2.2163, -15.41 pct

The dry bulk shipper reported a near 98 percent slump in first-quarter revenue as voyage revenue fell 87 percent and it generated no revenue from drilling contracts.

** FOOT LOCKER INC, $54.7, -6.58 pct

The footwear retailer reported lower-than-expected first-quarter sales, saying rapidly shifting product category preferences were a challenge.

** OCEAN RIG UDW INC, $2.3022, +27.19 pct

The offshore rig contractor reported strong first-quarter revenue and profit, helped by higher fleet utilization and a reduction in expenses.

** ABRAXAS PETROLEUM CORP, $1.02, -23.31 pct

Oil and gas producer said it was offering 25 million shares priced at $1.00 per share, a discount of nearly 25 percent to stock’s Thursday close.

** TESLA MOTORS INC, $218.5782, +1.57 pct

The electric car maker priced 9.3 million shares at $215.00, a razor thin discount to stock’s last sale, for a total offering size of $2 billion.

** YAHOO INC, $36.41, -1.65 pct

Verizon Communications Inc and other bidders are expected to offer between $2 billion-$3 billion in the auction for Yahoo’s core business, the Wall Street Journal reported on Thursday.

** AUTODESK INC, $56.24, -2.23 pct

Autodesk reported lower-than-expected quarterly revenue as the design software maker transitions to a subscription model. (Compiled by Anya George Tharakan in Bengaluru; Editing by Anil D’Silva)

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