October 11, 2016 / 6:02 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Nova LifeStyle, Luxfer, Momenta, LendingClub

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U.S. stocks tumbled on Tuesday, with the S&P 500 and the Nasdaq on track for their worst day in one month, after Alcoa kicked off the earnings season on a dour note.

The Dow Jones Industrial Average was down 1.26 percent at 18,098.87, the S&P 500 was down 1.45 percent at 2,132.37 and the Nasdaq Composite was down 1.72 percent at 5,237.281.

** ALCOA INC, $28.16, -10.63 pct

The aluminum producer reported higher quarterly profit but missed expectations. The company also reported a drop in revenue as it curtailed or closed some traditional smelting operations and confronted falling prices.

** ILLUMINA INC, $137.5, -25.62 pct

The diagnostic test maker cut its third-quarter revenue estimate, citing larger than anticipated sales drop of high throughput sequencing instruments.

** ST. JUDE MEDICAL INC, $78.28, -3.69 pct

** ABBOTT LABORATORIES, $41.25, -5.17 pct

St. Jude warned that some of its implanted heart devices are at risk of premature battery depletion, a condition it said has been linked to two patient deaths and could require the replacement of some devices. The company agreed in April to sell itself for $25 billion to Abbott.

** APPLE INC, $116.4, +0.30 pct

Samsung Electronics’ worst-ever recall could likely boost rival products such as Apple’s new iPhone.


The China-based pharma and health supplement product maker said it would launch “easy breathing”, a new product to treat inflammation of the mucous membrane inside the nose and tissues lining the sinuses.

** RENT-A-CENTER INC, $9.08, -29.50 pct

The rent-to-own retailer estimated a 12 percent fall in its third-quarter U.S. same-store sales.

** MACROCURE LTD, $1.94, +4.86 pct

Leap Therapeutics Inc, which agreed to merge with the Macrocure in late August, presented positive data on a drug to treat bile duct cancer at a medical conference in Copenhagen this past weekend.

** NOVA LIFESTYLE, $4.46, +21.20 pct

The furniture maker signs a $15 million deal to supply mattresses and other products to a Hong Kong- and Malayasia-based professional training institute.

** STAFFING 360 SOLUTIONS INC, $1.3228, +6.68 pct

The international staffing company’s first-quarter revenue jumped about 33 percent from a year earlier, helped by acquisitions and a 14 percent increase in organic growth.

** LUXFER HOLDINGS PLC, $9.89, -14.52 pct

The high-pressure aluminum and composite cylinder maker said an outage at a defense customer’s plant lasted longer than anticipated, hurting demand for its magnesium-based products in the third-quarter.

** CARBONITE INC, $15.62, +5.75 pct

Oppenheimer upgraded the cloud-based backup service provider to “outperform” from “perform”.

** MOMENTA PHARMACEUTICALS INC, $13.17, +11.94 pct

Barclays analyst Douglas Tsao upgraded the biotechnology company’s stock to “overweight” and raised its price target to $19 from $13.

** TWITTER INC, $17.81, +1.42 pct

** SALESFORCE.COM INC, $71.78, -4.42 pct

Twitter snapped a three-day losing streak after Reuters reported that Salesforce.com was still considering making an offer for the microblogging company.

** KEMPHARM INC, $4.8, +9.09 pct

The drug developer received FDA clearance to start a clinical program for its investigational drug to treat attention-deficit hyperactivity disorder (ADHD).

** HORIZON PHARMA PLC, $18.27, -6.40 pct

The drugmaker forecast full-year adjusted net sales at the low end of its previously estimated range to exclude $65 million settlement with Express Scripts. The company also cut its EBITDA forecast for the year.

** VERICEL CORP, $2.61, -13.29 pct

The stem cell therapy developer entered into an agreement to sell its shares at an aggregate offer price of up to $25 million.

** PERFORMANCE SPORTS GROUP, $4.16, +15.88pct

Second-biggest shareholder Brookfield Asset Management Inc planned to bid for the Canadian sports equipment and apparel maker, Bloomberg reported, citing sources.

** YUM BRANDS INC, $88.38, +1.13 pct

The KFC and Pizza Hut owner said it expected to return as much as $13.5 billion to shareholders by 2019 as part of a program started last year.

** LENDINGCLUB CORP, $5.74, -4.97pct

Wedbush Securities started coverage of the online lending platform operator’s stock with “underperform” rating and a price target of $3.75. (Compiled by Akankshita Mukhopadhyay in Bengaluru; Editing by Anil D’Silva)

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