April 23, 2015 / 11:35 AM / in 3 years

BUZZ-U.S. STOCKS ON THE MOVE-Arris, eBay, Facebook, Qualcomm

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s) Dow Jones industrial average futures were down 0.25 percent at 17,901, S&P 500 futures were down 0.21 percent at 2,095.75 and Nasdaq 100 futures were down 0.21 percent at 4,436.

** APPLE INC, Wednesday close $128.62, -0.25 pct premarket

The iPhone maker will launch the Apple Watch with a whisper rather than a bang on Friday, an unusual start for the company that may reflect early uncertainty about demand for Apple Inc boss Tim Cook’s first new product. The company has not revealed how many orders it has received in the run-up to the April 24 launch, a contrast to previous launches of iPhones and iPads. Apple stores will not have any watches to sell on Friday, even though some luxury shops around the world will.

** GENERAL MOTORS CO, Wednesday close $37.16, +0.65 pct premarket

The company’s return to selling smaller pickups in the United States has resuscitated a moribund market segment, but new data highlights the risk that the automaker’s new trucks are cannibalizing sales of higher-priced models.

** QUALCOMM INC, Wednesday close $68.94, -2.73 pct premarket

The company forecast current-quarter revenue and profit below analysts’ expectations, saying the loss of a key customer and delays in product launches by some smartphone makers would hurt sales of its flagship Snapdragon chips. At least 6 brokerages cut their price targets on the stock

** ELI LILLY AND CO, Wednesday close $72.3

The Indianapolis-based drugmaker reported a 27 percent fall in quarterly profit, hurt by a stronger dollar. The drugmaker posted a net profit of $529.5 million, or 50 cents per share, for the first quarter ended March 31, compared with a profit of $727.9 million, or 68 cents per share, a year earlier.

** FACEBOOK INC, Wednesday close $84.63, -1.57 pct premarket

The world’s largest Internet social network posted its slowest growth in quarterly revenue in two years even as higher spending on research and development ate into profits. Facebook has warned of heavy investments in 2015 as it steps up efforts to expand a collection of products that include messaging service WhatsApp, photo-sharing service Instagram and virtual reality headset maker Oculus Rift. At least one brokerage cut its price target on the stock.

** MORGAN STANLEY, Wednesday close $37.2

The company’s sale of its Australian real estate unit, Investa Property Group, is expected to fetch more than A$3 billion ($2.32 billion) and has attracted more than 20 bids, a source with direct knowledge of the deal told Reuters.

** COMCAST CORP, Wednesday close $58.76

** TIME WARNER CABLE INC, Wednesday close $149.64, -1.10 pct premarket

The U.S. Federal Communications Commission’s staff has recommended that the agency designate Comcast Corp’s proposed $45 billion acquisition of Time Warner Cable for a hearing, the Wall Street Journal reported on Wednesday, calling it a significant setback for the deal.

** HELMERICH & PAYNE INC, Wednesday close $73.53, +0.50 pct premarket

The oil and gas driller reported a better-than-expected quarterly profit as demand for its high-tech rigs remained resilient despite the slump in crude prices.

** ARRIS GROUP INC, Wednesday close $30.54, +16.24 pct premarket

The network gear maker said it would buy British set-top box maker Pace Plc for $2.1 billion in cash and stock to expand its operations outside North America. The deal, involving the creation of a new company to be incorporated in the UK, will help Arris reduce corporate taxes.

** DOW CHEMICAL CO, Wednesday close $50.02, +1.46 pct premarket

The company’s quarterly profit soared 45 percent, helped by higher margins in five of its six units.

** AT&T INC, Wednesday close $32.86, +0.79 pct premarket

The company on Wednesday reported a better-than expected profit and said fewer wireless customers switched to other networks at a rate not seen in any first quarter. The company, awaiting regulatory approval for its $48.5 billion proposal to buy DirecTV, sees additional cost savings of more than double than it previously forecast from the deal. At least three brokerages cut their price targets on the stock.

** OMNICARE INC, Wednesday close $84.52

The pharmacy service provider was exploring a sale, Bloomberg reported, citing people with knowledge of the matter.

** EBAY INC, Wednesday close $56.75, +5.48 pct premarket

The e-commerce company reported a higher-than-expected quarterly profit as revenue surged from its payments business that includes PayPal, which the company said would be spun off in the third quarter. Revenue from the company’s payments business rose 14 percent to $2.11 billion in the first quarter, accounting for nearly half of its total revenue. At least six brokerages raised their price targets on the stock.

** NCR CORP, Wednesday close $30.07, +3.09 pct premarket

The automated teller machine maker was looking at strategic options, although the sale of the entire company was unlikely, The Wall Street Journal reported on Wednesday.

** GRAN TIERRA ENERGY INC, Wednesday close $3.55

The latest Canadian oil and gas company to face a proxy battle with an activist investor on Wednesday defended its board’s efforts to turn the company around.

** GOODYEAR TIRE & RUBBER CO, Wednesday close $27.65

The tire maker was planning to spend $550 million on a new plant in Mexico, a person familiar with the matter said, the latest in a string of investment pledges in the country’s booming auto sector.

** BANK OF AMERICA CORP, Wednesday close $15.74, -0.06 pct premarket

The bank on Wednesday asked a federal appeals court to toss a $1.27 billion penalty imposed in a mortgage fraud case, and in a rare move asked that the prominent Manhattan judge who oversaw its trial be replaced if the case were to continue.

** NOVARTIS AG, Wednesday close $103.45, +1.79 pct premarket

The Swiss drugmaker beat first-quarter profit forecasts on Thursday, defying the impact of a strong dollar thanks to surprisingly strong margins.


The generic drugmaker said it could “promptly” divest some operations to obtain regulatory clearance for its proposed $40 billion takeover of smaller rival Mylan NV.

** PROCTER & GAMBLE CO, Wednesday close $83.09, -0.81 pct premarket

The consumer product company’s sales fell for the fifth quarter in a row, hurt by a stronger dollar and lower demand for its beauty, hair and personal care products.

** TEKMIRA PHARMACEUTICALS CORP, Wednesday close $18.38

An experimental Ebola drug from the company cured all three monkeys intentionally infected with the virus, scientists reported on Wednesday, the first such success against the strain of Ebola in West Africa’s 2014-2015 outbreak.

** TESLA MOTORS INC, Wednesday close $219.44, -0.43 pct premarket

The company’s shares rose sharply on Wednesday after investors learned it would introduce improved batteries for home and business use by the end of April. Deutsche Bank said in a research note that the battery market was a significant opportunity, even though markets for home and utility energy storage are in their infancy.

** GILEAD SCIENCES, Wednesday close $104.18, +0.02 pct premarket

The company sought to convince governments and multilateral agencies worldwide that hepatitis C could be eliminated with a demonstration project in Georgia offering free drugs to all those who need them.

** SUPER MICRO COMPUTER, Wednesday close $31.9

The server maker reported sales of $471.2 million for the third quarter and adjusted earnings of 47 cents per share, compared with the average analyst estimate of $475.9 million and 49 cents. The company said the West Coast port strike lopped $5.5 million from its top line while foreign exchange rates led to a $732,000 loss from a $844,000 gain from Taiwan dollar-based loans.

** NOVO NORDISK, Wednesday close $56.37, -0.73 pct premarket

The drugmaker launched its Saxenda obesity drug in the United States, a long-awaited milestone to provide a new revenue stream for the Danish drugmaker.

** MOBILEIRON INC, Wednesday close $9.5, -29.58 pct premarket

The mobile software maker estimated adjusted revenue of $32 million-$33 million for the first quarter, below the average analyst estimate of $36.3 million. Chief Executive Bob Tinker said multiple large deals from North American customers did not close as expected, near the end of the quarter.

** RAYTHEON CO, Wednesday close $109.65, +1.14 pct premarket

The maker of Tomahawk and Amraam missiles reported a 4 percent fall in quarterly sales as U.S. defense spending remained weak. Net income attributable to Raytheon fell to $551 million, or $1.79 per share, in the first quarter ended March 29, from $596 million, or $1.89 per share a year earlier.

** SELECT COMFORT CORP, Wednesday close $34.12, +2.90 pct premarket

The mattress maker raised full-year profit forecast to $1.35 per share, from $1.30 per share. It reported first-quarter sales and profit above analysts’ average estimates on higher sales of its FlexFit adjustable mattresses.

** TEXAS INSTRUMENTS INC, Wednesday close $58.73, -7.20 pct premarket

The chipmaker forecast revenue for the second quarter below the average analyst estimate, citing weak demand for its chips from communication equipment and consumer electronics markets, and a strong dollar.

** LAS VEGAS SANDS CORP, Wednesday close $56.39

The casino gaming operator reported a lower-than-expected first-quarter revenue and adjusted profit as revenue at Sands China business, its largest, fell 35 percent. (Compiled by Rosmi Shaji in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below