(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) Wall Street was set to open little changed on Wednesday after Federal Reserve Chair Janet Yellen said the central bank remained on track to raise interest rates this year, with turmoil abroad unlikely to throw the U.S. economy off track.
Dow Jones industrial average futures were down 0.01 percent at 17,959, S&P 500 futures were up 0.01 percent at 2,102.25 and Nasdaq 100 futures were up 0.19 percent at 4,526.
** BANK OF AMERICA CORP, Tuesday close $17.13, +2.39 pct premarket
The second-largest U.S. bank by assets reported its biggest quarterly profit in nearly four years on Wednesday as mortgage banking revenue soared and expenses fell to their lowest since the financial crisis.
** CELGENE CORP, Tuesday close $122.85, +8.01 pct premarket
** RECEPTOS INC, Tuesday close $207.18, +10.46 pct premarket
Celgene said on Tuesday it would buy Receptos for $7.2 billion in a move that will give the U.S. biotechnology company a potential multibillion-dollar drug in late stage development for inflammatory bowel disease and multiple sclerosis. Celgene said it would pay $232 per share in cash.
** DELTA AIR LINES INC, Tuesday close $43.66, -2.84 pct premarket
** AMERICAN AIRLINES, Tuesday close $42.06, -1.57 pct premarket
** SPIRIT AIRLINES, Tuesday close $58.81, -1.38 pct premarket
** JETBLUE AIRWAYS, Tuesday close $22.45, -1.11 pct premarket
** UNITED CONTINENTAL, Tuesday close $55.73, -1.67 pct premarket
** SOUTHWEST AIRLINES, Tuesday close $33.86, -1.06 pct premarket
Delta’s quarterly profit topped estimates, but the company forecast a drop in third-quarter unit revenue as it continued to see weaker demand abroad due to the strong dollar.
The forecast from the first U.S. carrier to report results also weighed on other airline stocks.
** ASML HOLDING, Tuesday close $103.07, +2.45 pct premarket
The Dutch chip equipment maker forecast a rise in 2015 revenue after second-quarter results that showed maintenance and upgrade orders helped offset slower new product sales growth.
** NETFLIX INC, Tuesday close $702.6, -85.78 pct premarket
The company’s stock is to begin trading on a split-adjusted basis on Tuesday. Last month the company announced a seven-for-one stock split.
Netflix is scheduled to report results after markets close.
** LINKEDIN CORP, Tuesday close $213.88, +2.49 pct premarket
Barclays raised its rating on the stock to “overweight” from “equal weight” and its price target to $250 from $225.
** PAYPAL HOLDINGS INC, Tuesday close $36.93, +1.41 pct premarket
** EBAY INC, Tuesday close $63.59, flat premarket
** NOBLE CORP PLC, Tuesday close $14.58, -0.62 pct premarket
PayPal will replace eBay in the S&P 100 and Noble in the S&P 500, effective after the close of trading on July 17.
KBW started coverage of PayPal with an “outperform” rating and a $43 price target.
** COLUMBIA PIPELINE PARTNERS LP, Tuesday close $25.17, -6.63 pct premarket
Sources cite Morgan Stanley re-offering 4.64 million units in the range of $24.10-$24.25, a bracketed 3.7 percent to 4.3 percent discount to Tuesday’s $25.17 last sale. The seller(s) were not identified.
** FRONTLINE LTD, Tuesday close $2.42, +5.37 pct premarket
Shares in the Norwegian oil tanker firm rose after crude oil tanker rates jumped to above $80,000 for the biggest vessels on the route from the Middle East Gulf to east Asian destinations.
Higher shipping rates also lead to increased expectations of a fast reintroduction of Frontline dividends, which have been suspended since 2011.
** GUESS INC, Tuesday close $21.16, +6.10 pct premarket
Wunderlich and Evercore ISI raised their price targets on the apparel retailer’s stock.
The company said on Tuesday that Victor Herrero would replace co-founder Paul Marciano as chief executive in August.
** MCEWEN MINING INC, Tuesday close $0.75, +1.33 pct premarket
The Canadian miner posted a 36 percent rise in second-quarter production, helped by higher-than-expected output at its El Gallo Mine in Mexico.
** PTC THERAPEUTICS INC, Tuesday close $48.94, +9.09 pct premarket
JP Morgan raised its rating on the drug developer’s stock to “overweight”, according to theflyonthewall.com.
** BLACKROCK INC, Tuesday close $342.73, flat premarket
The world’s largest asset manager posted a small rise in second-quarter profit, as the firm saw net outflows for the first time in several quarters.
** SYNGENTA AG, Tuesday close $82.26, +3.17 pct premarket
** MONSANTO CO, Tuesday close $107.8, flat premarket
Hedge fund Paulson & Co has taken a stake in Syngenta, , and could push for the board of directors of the Swiss pesticide maker to accept a takeover offer from Monsanto, people familiar with the matter said on Tuesday.
** YUM BRANDS INC, Tuesday close $91.99, +0.12 pct premarket
The owner of Pizza Hut and KFC on Tuesday reported its fourth straight quarter of falling sales, indicating that the company is still struggling to regain lost ground in China after a food scandal last year.
** FIAT CHRYSLER AUTOMOBILES, Tuesday close $14.53, +1.38 pct premarket
** GENERAL MOTORS CO, Tuesday close $31.77, flat premarket
Fiat’s CEO does not plan to make another offer to merge with GM after being rejected by its U.S. rival four months ago, the New York Times quoted him as saying.
** CSX Corp, Tuesday close $32.07, +2.59 pct premarket
The No. 3 U.S. railroad on Tuesday reported a higher quarterly net profit, beating forecasts as productivity gains and lower fuel prices offset a drop in coal volumes that took a bite out of revenue.
RBC upgraded the stock to “outperform” from “sector perform” and also hiked its price target.
** MEAD JOHNSON NUTRITION CO, Tuesday close $88.13, -5.08 pct premarket
The pediatric nutrition company cut its full-year profit forecast, citing weak second-quarter results. The company said it expects quarterly adjusted profit to be hurt by falling sales and higher advertising and promotion expenses.
** MILLER ENERGY RESOURCES INC, Tuesday close $0.208, +49.09 pct premarket
The company said it believes the value of its assets exceeds its debt and that it does not intend, under current circumstances, to file for bankruptcy. The statement was to clarify comments made in a press release issued on July 14.
** HERTZ GLOBAL HOLDINGS INC, Tuesday close $17.09, +3.74 pct premarket
** AVIS BUDGET, Tuesday close $42.55, +4.11 pct premarket
Deutsche Bank raised its rating on the stock of both car rental companies to “buy” from “hold”.
** CINCINNATI FINANCIAL CORP, Tuesday close $54.17, -1.14 pct premarket
Deutsche Bank cut its rating on the insurer’s stock to “sell” from “hold” and its price target to $43 from $46.
** CELSION CORP, Tuesday close $2.4, +11.25 pct premarket
Maxim Group started coverage of the cancer therapy developer’s stock with a “buy” rating and a $12 price target.
** ALLEGHENY TECHNOLOGIES INC, Tuesday close $28.16, -8.10 pct premarket
The specialty metal producer said its second-quarter loss would be much wider than a year earlier due to challenging business conditions in its flat rolled products business and as product margins were hurt as raw material surcharges fell, mainly due to lower prices for nickel units.
** DBV TECHNOLOGIES SA, Tuesday close $38.37, -1.22 pct premarket
The French biopharmaceutical company said an offering of 3.6 million ordinary shares in the form of 7.2 million American Depositary Shares was priced at $34 per ADS.
** MACROGENICS INC, Tuesday close $38.07, -2.81 pct premarket
The drug developer said its offering of 3.5 million shares was priced at $37 apiece, a 2.8 percent discount to Tuesday’s close.
** ENERGY TRANSFER PARTNERS, Tuesday close $53.47, +1.37 pct premarket
** SUNOCO LP, Tuesday close $43.53
Pipeline company Energy Transfer Partners said it would sell convenience store operator Susser Holdings for about $1.94 billion to its unit Sunoco. (Compiled By Manya Venkatesh in Bengaluru; Editing by Savio D’Souza)