April 30, 2015 / 1:58 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Harman, OmniVision, Boulevard Acquisition

(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 opened lower on Thursday as the disappointing economic growth hurt investor sentiment for the second straight day, though new data showed jobless claims fell and consumer spending rose in March. The Dow Jones industrial average was down 0.47 percent at 17,950.19, the S&P 500 was down 0.51 percent at 2,096 and the Nasdaq Composite was down 0.54 percent at 4,996.475.

** APPLE INC, $127.09, -1.20 pct

The iPhone maker is facing limited availability of the Apple Watch after a key component supplied by a Chinese company was found to be defective, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

** GLU MOBILE INC, $6.73, +24.63 pct

Tencent Holdings Ltd, the dominant social networking and online entertainment company in China, has agreed to buy 14.6 percent of mobile game developer Glu for $126 million to expand in the U.S. gaming market.

** BAIDU INC, $207.58, -5.21 pct

China’s dominant Internet search engine posted its slowest revenue growth rate in almost seven years in the first quarter of 2015, as customers spent less on its core online marketing business.

** DOW CHEMICAL CO, $51.46, -0.29 pct

** BOULEVARD ACQUISITION CORP, $12.6, +24.75 pct

Dow said it would sell its AgroFresh unit, which makes chemicals that keep farm produce fresh, for $860 million to Boulevard, as part of a plan to divest less-lucrative units.


The maker of chips for smartphone and tablet cameras agreed to be taken private by a group of Chinese investors for about $1.9 billion in cash.


The maker of JBL and Harman Kardon audio systems cut its profit forecast for 2015, citing a strong dollar and weakness in its speakers and headphones business.

** BORGWARNER INC, $58.79, -3.50 pct

The automotive supplier reported a 4.8 percent fall in quarterly revenue as a stronger dollar reduced the value of overseas sales.

** INOVIO PHARMACEUTICALS INC, $8.38, -14.92 pct

The drug developer said it intends to make a public offering of shares of its common stock.

** KNOWLES CORP, $18.02, -9.58 pct

** AUDIENCE INC, $4.74, -13.66 pct

Audio-chip maker Audience Inc, which has struggled since losing Apple Inc as its No. 1 customer in 2012, agreed to a distress sale to hearing-aid component maker Knowles Corp in a deal cash-and-stock deal valued at $85 million.

** VIRGIN AMERICA INC, $30.5, +0.16 pct

The low-cost airline forecasts second-quarter carrying capacity and unit revenue to stay flat or decline slightly and said it expected cost per available seat mile, excluding fuel and profit sharing, to increase 8-10 pct.

** NEW YORK TIMES CO, $13.26, +3.51 pct

The company reported a 4.6 percent rise in quarterly adjusted operating profit despite dwindling print ad sales as cost-cutting initiatives paid off.

** TASER INTERNATIONAL INC, $29.62, +5.52 pct

The maker of stun guns and body-worn video cameras reported a first-quarter profit and revenue that beat the average analyst estimate on higher sales of smart weapons and increased margins.

** YELP INC, $41.31, -19.44 pct

The operator of consumer review website Yelp.com forecast second-quarter revenue below analysts’ expectations and reported first-quarter revenue below the average analyst estimate as it added fewer-than-expected local advertising accounts.


The company’s quarterly profit missed estimates and it cut its full-year profit forecast, citing lower-than-expected potash prices.

** WUXI PHARMATECH CAYMAN INC, $44.31, +12.18 pct

The contract R&D services provider said it had received a proposal to be taken private by a consortium led by its chief executive and Ally Bridge Group Capital Partners.

** AVON PRODUCTS INC, $8.14, -6.11 pct

The direct seller of cosmetics and personal care products reported a 17.8 percent fall in quarterly revenue, hurt by a strong dollar and weak demand in Latin America, its biggest market.

** ROCKWELL AUTOMATION INC, $120.99, +7.71 pct

The company reported a 14.3 percent rise in quarterly profit, partly due to higher operating earnings in its architecture & software business.

** COLGATE-PALMOLIVE CO, $67.2, -1.91 pct

The consumer products maker reported its third straight quarter of falling revenue as a strong dollar reduced the value of overseas sales.

** CELGENE CORP, $109.49, -3.28 pct

U.S. biotechnology company Celgene Corp posted a lower-than-expected quarterly revenue, hit by a stronger dollar, but said the dollar would not hurt full-year sales and profit more that it had already forecast.

** ALPHA NATURAL RESOURCES INC, $0.8416, +2.53 pct

The U.S. coal miner reported its first profit in 13 quarters, helped by a $364 million gain on early debt repayment.

** ROYAL BANK OF SCOTLAND, $10.4, -4.24 pct

The British bank said it expects to settle with U.S. authorities investigating alleged foreign exchange manipulation in the coming weeks and had set aside a further 334 million pounds ($515 million) to cover the cost.

($1 = 0.6483 pounds)

** NOKIA, $6.75, -9.88 pct

** ALCATEL-LUCENT SA, $3.5, -8.38 pct

The Finnish company, which is set to buy French rival Alcatel-Lucent, reported quarterly profits well below market forecasts at its main telecom network equipment business.

** SALESFORCE.COM INC, $73.53, -1.50 pct

The cloud software company is working with financial advisers to help it field takeover offers after being approached by a potential acquirer, Bloomberg said, citing people with knowledge of the matter.

** SEADRILL, $12.44, +2.30 pct

The Norwegian company’s rival, seismic surveyor PGS, posted first-quarter operating earnings well above analysts’ expectations on Thursday on strong late sales, but said that market uncertainty in the oil sector remains.


The contract electronics manufacturer forecast first-quarter revenue below the average analyst estimate and also reported lower-than-expected fourth-quarter revenue.

** SANOFI, $50.7, -1.00 pct

The French drugmaker warned that revenue in its key diabetes division would fall this year after it was forced to offer discounts for its best-selling drug Lantus in the United States.

** BUNGE LTD, $87.51, +0.55 pct

The company, one of the world’s largest agricultural trading houses, reported a better-than-expected quarterly profit, helped by strong margins from soybean crushing and oilseeds exports. (Compiled by Avik Das in Bengaluru; Editing by Simon Jennings)

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