April 28, 2015 / 3:33 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Coach, Whirlpool, Merck, Supervalu, Apple

(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) U.S. stocks fell in volatile early trading on Tuesday as strong results from Merck and better-than-expected housing data helped offset disappointing earnings and profit-taking in Apple . The Dow Jones industrial average was up 0.15 percent at 18,064.36, the S&P 500 was up 0.05 percent at 2,109.93 and the Nasdaq Composite was down 0.05 percent at 5,057.691.

** APPLE INC, $131.48, -0.88 pct

The iPhone maker did not provide sales figures for its newly released Apple Watch. “It is questionable to me how the Apple Watch will sell. Even if that does well, it has lower margins than the iPhone, so overall I think we should expect a lull in growth until we get another new product,” said Michael Binger, senior PM at Gradient Investments LLC in Minneapolis, Minnesota.

** COACH INC, $39.79, -6.00 pct

The Poppy handbag makers’ quarterly sales fell short of estimates due to continued weak demand for its products in North America, its biggest market.

** WHIRLPOOL CORP, $182, -8.00 pct

The home appliance maker lowered its profit forecast and sales outlook for 2015, predicting a significant drop in Latin American sales owing largely to Brazil’s stagnating economy.

** KONINKLIJKE PHILIPS NV, $28.8, -4.26 pct

Electrical company Koninklijke Philips NV has reported first-quarter earnings showing continued weakness in the healthcare equipment operations that are increasingly vital for the Dutch group as it prepares to spin off its lighting operations.

** MERCK AND CO, $60.04, +5.15 pct

The company’s diabetes drug, Januvia, achieved the main goal of a long-awaited heart safety study. The company also reported better than expected quarterly sales and earnings on Tuesday.

** SUPERVALU INC, $10.44, -2.43 pct

The grocery wholesaler and retailer reported fourth-quarter sales of $4.36 billion, lagging the average analyst estimate of $4.39 billion.

** YOU ON DEMAND HOLDINGS INC, $2.391, +4.41 pct

The Chinese video-on-demand provider launched a mobile streaming service on C Media’s railway Wi-Fi platform.

** JETBLUE AIRWAYS CORP, $20.7001, +5.02 pct

The airline’s first-quarter profit soared as strong U.S. domestic demand, lower fuel prices and cost controls helped its bottom line, the company reported on Tuesday.

** BARRICK GOLD CORP, $13.35, +4.30 pct

The company’s shareholders have voted to reject the gold miner’s controversial executive compensation plan, Barrick Executive Chairman John Thornton said on Tuesday.

** AK STEEL HOLDING CORP, $5.27, +7.77 pct

The steel producer reported better-than-expected first-quarter revenue, partly due to stronger sales in the automotive market.

** AMARIN CORP PLC, $2.0634, -4.03 pct

The U.S. FDA rejected the Irish drugmaker’s application to expand the label of its drug Vascepa, citing insufficient data that showed it reduced cardiovascular-related risks.

** UNIPIXEL INC, $3.9, -33.10 pct

The touchscreen sensor maker terminated certain manufacturing facility installation and supply agreement with Displays and Eastman Kodak Company.

** IDEXX LABORATORIES INC, $142.85, -11.31 pct

The maker of pet health products forecast weaker-than-expected 2015 earnings and sales, to reflect the continued strengthening of the US dollar.

** AMKOR TECHNOLOGY INC, $7.22, -9.07 pct

The semiconductor assembling and testing services provider forecast lower-than-expected second-quarter profit and net sales, citing inventory adjustments and other issues at a major customer.


The data security products and software maker reported a 67.8 percent rise in first-quarter revenue, helped by a strong demand for its products.

** FREEPORT-MCMORAN INC, $22.71, +4.08 pct

Analysts at Morgan Stanley upgraded the miner’s stock to “overweight”, as Freeport ramped up volumes and saw a decline in capital spending.

** PRANA BIOTECHNOLOGY LTD, $1.23, +7.89 pct

The European regulator recommended an “orphan medicinal product” designation for the Australian biotech’s lead experimental drug, PBT2, to treat Huntington’s disease, to the European Commission.

** AETERNA ZENTARIS INC, $0.609, +4.96 pct

An Independent Data Safety Monitoring Board recommended on Friday that a late-stage trial of the company’s experimental drug to treat a type of cancer should continue as planned.

** UNITED PARCEL SERVICE INC, $100.73, +3.39 pct

The courier company on Tuesday reported a higher quarterly net profit due to price increases and productivity improvements, and reaffirmed its earnings outlook for 2015.

** RENT-A-CENTER INC, $30.3, +12.06 pct

The rent-to-own home furniture retailer reported a better-than-expected first-quarter profit and revenue, driven by costs cuts and higher sales of merchandise such as smartphones.

** ICICI BANK, $10.86, +6.58 pct

The Indian bank reported a 10 percent rise in Jan-March net profit, beating analyst estimates.

** ALLY FINANCIAL INC, $21, +3.40 pct

The largest U.S. auto lender reported a quarterly profit that more than doubled, helped by a one-time after-tax gain of about $400 million, related to a stake sale in its joint venture with a Chinese auto lender.

** CONTAINER STORE GROUP INC, $17.76, -18.12 pct

The storage products retailer forecast a full-year 2015 profit below analysts’ estimates, citing investments and supply delays due to the West Coast port strikes.

** AETNA INC, $109.43, +2.35 pct

The third-largest U.S. health insurer increased its forecast for full-year operating earnings after a stronger-than-expected profit in the first quarter.

** ORANGE SA, $16.26, -3.33 pct

France’s largest telecom operator posted slightly lower quarterly results on Tuesday that were largely in line with expectations as mobile subscriber growth and expense cuts failed to offset higher network spending and other costs.

** YANDEX NV, $19.18, -5.38 pct

Russia’s biggest search site said on Tuesday its first-quarter net profit fell 21 percent, year-on-year, to 2.1 billion roubles ($40.5 million) due to an increase in personnel and rent expenses. ($1 = 51.8000 roubles) (Reporting by Ankit Ajmera in Bengaluru, Editing by Simon Jennings)

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