June 27, 2014 / 11:34 AM / 4 years ago

BUZZ-U.S. Stocks on the Move-Nike, DuPont, Amedisys, Michaels

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Dow Jones industrial average futures were down 0.18 percent at 16,732, S&P 500 futures were down 0.24 percent at 1,944 and Nasdaq 100 futures were down 0.16 percent at 3,811.25.

** NIKE INC, Thursday close $76.86, +3.11 pct premarket

The world’s largest sportswear maker reported better-than-expected quarterly results, as demand for its apparel and footwear rose in North America and Western Europe after the company spent heavily on marketing ahead of the 2014 soccer World Cup.

At least four brokerages raised their price target on the company’s stock.

** DUPONT, Thursday close $67.7, -2.2 pct at $66.30 after market

The chemicals maker cut its operating profit forecast for the second quarter and the full year, saying sales in its agriculture and performance chemicals units increased at a slower pace than it had expected.

** AMEDISYS INC, Thursday close $13.45, +5.87 pct premarket

The home health and hospice company’s second-quarter forecast topped analysts’ average estimate. The company said it expects revenue of $300-$305 million and adjusted earnings from continuing operations of 15-20 cents per share.

** PETROBRAS SA, Thursday close $14.8

A board member said he may ask Brazil’s securities regulator CVM to sanction the state-run oil and gas producer as it did not inform him and other directors of oil rights purchase plan.

The government will sell as much as 15.2 billion ($6.8 billion) barrels of offshore oil rights to the company, a securities filing revealed. The Brazilian government has a heavy hand in affairs of Petrobras which has become the world’s most indebted and least-profitable major oil company under President Dilma Rousseff.

** ENCANA CORP, Thursday close $23.91

** APOLLO GLOBAL MANAGEMENT LLC, Thursday close $26.95

Canada’s largest natural gas producer said it would sell its Bighorn gas properties in Alberta to Apollo for about C$2 billion ($1.9 billion). The deal includes about 360,000 net acres comprising Encana’s working interests in all pipelines and facilities as well as service arrangements.


The crafts retailer is expected to return to the market on Friday after it raised about $472.6 million in its IPO. Michaels priced its shares at $17, the lower end of an expected range, valuing the company at up to $3.45 billion. The company was taken private by Blackstone Group LP and Bain Capital LP for $6 billion in 2006. (Compiled by Amrutha Gayathri in Bangalore)

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