July 14, 2015 / 2:30 PM / in 3 years

BUZZ-U.S. STOCKS ON THE MOVE-Intel, J&J, Vince Holding, Transgenomic

(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 edged higher, trading in a narrow range, early on Tuesday as investors focus on U.S. corporate earnings and oil prices pared some losses after a steep fall earlier in the day.

At 10.25 a.m. ET, the Dow Jones industrial average was up 0.10 percent at 17,995.16. The S&P 500 was up 0.21 percent at 2,104.03 and the Nasdaq composite was up 0.44 percent at 5,094.25.

** INTEL CORP, $29.78, +0.17 pct

Bernstein cut its rating on the chipmaker’s stock to “underperform” from “market perform”, citing signs of weakness in its datacenter business, which it said could be “significantly more damaging” to Q2 results than the tepid PC market.

** JPMORGAN CHASE & CO, $68.53, +0.65 pct

The biggest U.S. bank by assets reported a stronger-than-expected rise in profit, helped by a drop in legal and restructuring expenses and a smaller tax bill.

** MICRON TECHNOLOGY INC, $19.46, +10.51 pct

China’s state-backed Tsinghua Unigroup Ltd is preparing a $23 billion bid for the U.S. memory chip maker, in what would be the biggest Chinese takeover of a U.S. company, people familiar with the matter said.

** BOOKS-A-MILLION INC, $3.14, +18.98 pct

The book retailer agreed to be acquired by entity owned by the Anderson Family in a deal worth about $21 million, or $3.25 per shares - a 23.6 percent premium to Monday’s close.

** JOHNSON & JOHNSON, $99.74, -0.53 pct

The company’s second-quarter revenue fell nearly 9 percent to $17.79 billion.

** WELLS FARGO & CO, $57.165, +0.75 pct

The largest U.S. mortgage lender reported a drop in profit for the second quarter in a row as expenses rose at a time when the largest U.S. mortgage lender is struggling to boost margins in a low-interest rate environment.

** VINCE HOLDING CORP, $10, -16.39 pct

The apparel and accessories retailer said its chief executive resigned. William Blair downgraded the stock to “market perform” from “outperform”, saying the management changes created a sense of uncertainty on the company’s strategy and the timing of its turnaround.

** TRANSGENOMIC INC, $1.82, +27.27 pct

The diagnostic company said it has launched a genetic test for diagnosing leukodystrophy, a progressive genetic disorder which affects the central nervous system.

** NAVIENT CORP, $16.48, -10.24 pct

The student loan servicing company said its core profit for the second quarter and the year would be hurt due to aggressive market pricing for private education loan portfolios.


The drug developer’s offering of 2.3 million shares was priced at $7.50 per share, a 9 percent discount to the Monday’s close. The offering represent about 14.4 percent of outstanding shares.

** CELYAD SA, $60.1599, +9.96 pct

UBS started coverage of the Belgian drug developer’s stock with a “buy” rating and an $82 target price.

** BIOCEPT INC, $2.8, +6.06 pct

The molecular diagnostics company launched a diagnostic test that could help physicians identify skin cancer patients who might benefit from available targeted therapies.

** AMBASSADORS GROUP INC, $1.8199, -24.17 pct

The travel program provider said on Monday it would close its student and adult travel business by the end of 2015.

** SPIRIT AIRLINES INC, $57.75, -9.11 pct

The U.S. carrier lowered its forecast for the remainder of the year, primarily due to lower revenue, saying June results and operations were hurt by many cancellations related to adverse weather.

** AMAZON.COM INC, $463, +1.63 pct

UBS upgraded the e-commerce company’s stock to “buy” from “neutral” and raised price target to $550 from $450 based on the flywheel that Amazon was creating via Prime subscriber growth and the Fulfillment by Amazon business.

** COCA-COLA, $40.99, +0.81 pct

UBS upgraded the stock to “buy” from “neutral” and raised its price target to $48 from $44, citing an increasing probability of the stock breaking out over its historical trading range in next 12 months to a range of $45-$50.

** AUTOLIV INC, $107.44, -1.02 pct

Baird cut its price target on the auto safety gear maker’s stock to $103 from $126 and kept its “neutral” rating.

** GOPRO INC, $55.25, +6.03 pct

Barclays upgraded the action camera maker to “overweight” from “equal weight” and raised its price target to $65 from $50.

** APPLE INC, $125.385, -0.22 pct

Apple introduced mobile payments in Britain, hoping to make a splash with consumers familiar with using cards for tap-and-go purchases, as resistance from hold-out banks and stores appeared to evaporate.

** URBAN OUTFITTERS INC, $36.7, +3.73 pct

Jefferies upgraded the apparel retailer’s stock to “buy” from “hold” and raised its target price to $50 from $36.

** FEDEX CORP, $170.61, -0.21 pct

** BOEING CO, $146.75, +0.09 pct

The package delivery company is in talks to buy at least 25 more 767 freighters from Boeing for about $5 billion, Bloomberg reported, citing people familiar with the matter.

** NATURAL HEALTH TRENDS CORP, $38.43, +17.16 pct

The direct-selling and e-commerce company estimated revenue more than doubled in the quarter ended June 30.

** ORBITZ WORLDWIDE INC, $11.18, -1.93 pct

UBS cuts its rating on the online travel agency’s stock to “sell” from “neutral” and its price target to $10 from $12.

** IAC/INTERACTIVE CORP, $83.36, +0.96 pct

The Match Group, IAC’s unit, said it would buy online dating website PlentyOfFish in a deal valued at $575 million, ahead of an IPO expected by the end of the year.

** SWIFT ENERGY CO, $1.23, -1.60 pct

KeyBanc cut its rating on the oil and gas explorer’s stock to “sector weight” from “overweight”.

** BALLARD POWER SYSTEMS INC, $1.47, +2.08 pct

Rodman and Renshaw started coverage on the Canadian fuelcell maker’s stock with a “buy” rating and price target of $2.50.

** DIGITAL REALTY TRUST INC, $67.94, -0.70 pct

The real estate investment trust that rents out space to companies for setting up data centers said it would buy Telx Group Inc from its private equity owners in a deal valued at about $1.89 billion.

** WPX ENERGY INC, $11.81, +6.21 pct

The oil and gas producer said it would acquire privately held RKI Exploration & Production LLC for $2.35 billion, the latest in a series of deals brought on by a steep drop in crude prices.

** FORD MOTOR CO, $14.67, +0.20 pct

Ford increased European car sales 16 percent in June, benefiting from demand for the all-new Mondeo saloon and sport-utility vehicles.

** AVOLON HOLDINGS LTD, $24.9, +4.93 pct

China’s Bohai Leasing Co Ltd said it has agreed to buy 20 percent of Avolon Holdings for $429 million, in the latest acquisition by a unit of aviation and shipping conglomerate HNA Group.


The lead-carbon battery maker’s stock started trading on a split-adjusted basis after a 1-for-35 reverse split.


The monoclonal antibody company’s stock started trading on a split-adjusted basis after a 1-for-8 reverse split.

** YUM BRANDS INC, $91.63, +0.57 pct

The KFC, Pizza Hut and Taco Bell chain owner reports results after the markets close. The company said it expects another tough quarter before a recovery in China, but that could be pushed out as consumers clamp down on discretionary spending. (Compiled by Anannya Pramanick in Bengaluru; Editing by Savio D’Souza)

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