October 12, 2016 / 4:05 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Fortinet, Extraction Oil & Gas, Voxx

(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) The S&P 500 and the Dow pared losses on Wednesday as financial stocks rose in anticipation of the minutes of the Federal Reserve's September policy meeting.

The Dow Jones Industrial Average was up 0.06 percent at 18,139.79, the S&P 500 was up 0.10 percent at 2,138.89 and the Nasdaq Composite was down 0.04 percent at 5,244.81.

** FORTINET INC, $29.98, -12.06 pct

** PALO ALTO NETWORKS INC, $153.36, -1.36 pct

** FIREEYE INC, $12.935, -2.74 pct

** PROOFPOINT INC, $69.34, -2.37 pct

** CYBERARK SOFTWARE LTD, $48.3, -3.26 pct

Cybersecurity company Fortinet cut its third-quarter billings, revenue and earnings forecasts, citing delayed purchases by enterprise and service providers. The company also noted execution issues in North America from the realignment of its sales force in the first quarter.

** STANLEY BLACK & DECKER INC, $120.38, +2.31 pct

** NEWELL BRANDS, $50.88, +1.07 pct

Power tool maker Stanley Black & Decker said it would buy Newell Brands tool business for $1.95 billion, adding brands such as Irwin and Lenox to its lineup.

** EXTRACTION OIL & GAS INC, $22.55, +18.68 pct

Shares of Extraction Oil & Gas - the first producer to launch a U.S. IPO this year - rose as much as 19.7 percent in their market debut as crude prices held above $50 per barrel.

** AZURE POWER GLOBAL LTD, $15.35, -14.72 pct

The India-focused solar power company had a lackluster market debut, with share falling more than 10 percent from their IPO price.

** VOXX INTERNATIONAL CORP, $3.375, +32.35 pct

The automotive and consumer accessories distributor reported a second-quarter profit of 12 cents per share, compared with a loss of 18 cents per share a year earlier.

** IMAX CORP, $27.13, -4.07 pct

The provider of cinema technology licenses could miss its third-quarter earnings estimates after box office disappointments for movies such as “Ben Hur” and “Sully,” B. Riley analyst Eric Wold said.

** BARRACUDA NETWORKS INC, $26.1, +11.87 pct

The cloud computing and data security company’s second-quarter revenue and profit beat estimates.


The prepaid payment network provider’s third-quarter profit topped analysts’ estimates.


** MALLINCKRODT PLC, $67.42, -1.09 pct

Generic drugmaker Intellipharmaceutics said Mallinckrodt would distribute generic versions of some of the company’s extended release drug candidates in the United States as part of a licensing deal.

** POLARIS INDUSTRIES INC, $76.62, +3.50 pct

The all-terrain vehicle maker said it would buy off-road SUV accessories maker Transamerican Auto Parts Co (TAP) for about $665 million.

** IDERA PHARMACEUTICALS INC, $1.88, +3.87 pct

The hedge fund manager Baker Bros. Advisors LLC disclosed a 7.2 percent stake in the developer of drugs for cancer and rare diseases as of Oct. 7.


Jefferies analyst cuts EBITDA estimate to $208 million from $237 million, citing weak box office numbers and movie expenses. (Compiled by Akankshita Mukhopadhyay in Bengaluru; Editing by Anil D’Silva)

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