October 14, 2016 / 5:42 PM / a year ago

BUZZ-U.S. STOCKS ON THE MOVE-Bank stocks, AMD, bluebird bio, Ocean Power

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Wall Street pared gains sharply on Friday as financial stocks lost steam and investors shifted focus to Federal Reserve Chair Janet Yellen’s speech.

The Dow Jones Industrial Average was up 0.47 percent at 18,183.24, the S&P 500 was up 0.30 percent at 2,138.94 and the Nasdaq Composite was up 0.25 percent at 5,226.28.

** JPMORGAN CHASE & CO, $67.84, +0.15 pct

The biggest U.S. bank by assets beat forecasts for revenues and profits on Friday as global bond and currency markets roared back to life in the third quarter following Britain’s vote to leave the European Union.

BREAKINGVIEWS-JPMorgan and Citi hint at broader Wells Fargo woes

** CITIGROUP INC, $48.7, +0.47 pct

The fourth-biggest U.S. bank by assets beat expectations for third-quarter net profit on Friday after trading revenue surged 35 percent.

** WELLS FARGO & CO, $44.53, -0.49 pct

Wells Fargo reported its fourth straight fall in quarterly profit as it set aside funds for potential legal costs amid an increasingly politicized bogus-account scandal that cost Chief Executive and Chairman John Stumpf his job.

** DEUTSCHE BANK, $13.55, +1.42 pct

Deutsche Bank’s finance chief told staff representatives last month that job cuts at the bank could be double than planned, a move that could remove 10,000 more employees, a person with direct knowledge of the matter told Reuters.

** HP INC, $14.7, -2.97 pct

HP said it expected to cut about 3,000 to 4,000 jobs over the next three years as the maker of printers and personal computers continues to struggle in a subdued market.

** ADVANCED MICRO DEVICES INC, $6.885, +6.09 pct

** ALIBABA GROUP HOLDING LTD, $102.52, +0.36 pct

Alibaba will use AMD’s Radeon Pro GPU technology in its global data centers.

** BLUEBIRD BIO INC, $56.92, -12.75 pct

Brokerage Cantor Fitzgerald downgraded the gene-therapy developer’s stock to “sell” from “hold”.

** LANDMARK INFRASTRUCTURE PARTNERS LP, $16.3199, -4.84 pct

The real estate services provider said it commenced an underwritten public offering of 3 million common units.

** EGALET CORP, $7.21, -4.12 pct

The drugmaker said the FDA delayed a decision on its long-acting opioid pain treatment, Amyro ER, but had not identified any particular issue with the drug.

** ALON USA ENERGY INC, $8.395, -2.38 pct

** DELEK US HOLDINGS INC, $17.32, +5.48 pct

Alon USA Energy’s largest shareholder, Delek U.S. Holdings, offered to buy the smaller refiner in a deal that valued the company at about $516 million.

** ENDO BIOCHEM INC, $5.56, +9.66 pct

The molecular diagnostics company said quarterly revenue rose 4 percent, helped by strong demand from its diagnostic services providing business, Enzo Clinical Labs.

** MACY‘S INC, $35.58, -3.32 pct

** J.C. PENNEY CO INC, $8.74, +0.11 pct

** KOHL‘S CORP, $43.59, -3.39 pct

** DILLARD‘S INC, $62.1, -3.59 pct

JP Morgan cuts its price targets on department store operators Macy‘s, Kohl‘s, J.C. Penney and Dillard‘s.

** NATURAL HEALTH TRENDS CORP, $20.92, -23.05 pct

The direct seller of beauty and wellness products forecast a 12 percent drop in third-quarter revenue.

** OCEAN POWER TECHNOLOGIES INC, $2.96, -26.37 pct

The company, which makes PowerBuoy systems that generate electricity from ocean waves, priced an offering of $2.4 million shares at $2.75 per share.

** TEREX CORP, $25.18, +5.40 pct

Bank of America Merrill Lynch upgraded the U.S. crane maker to “buy” from “underperform” and raised its price target, citing “financial flexibility like never before.”

** AEROHIVE NETWORKS INC, $5.51, -2.13 pct

The cloud-based mobile network provider estimated its third-quarter revenue below estimates.

** MAMMOTH ENERGY SERVICES INC, $13.48, -10.13 pct

The oilfield services provider’s had a lackluster market debut, with shares falling below their IPO price.

** TECK RESOURCES LTD, $18.66, +3.04 pct

Analysts at Dundee Capital Markets upgraded the Canadian coal miner’s stock to “buy” from “neutral.” (Compiled by Akankshita Mukhopadhyay in Bengaluru; Editing by Don Sebastian)

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