October 19, 2016 / 2:43 PM / in a year

BUZZ-U.S. STOCKS ON THE MOVE-Intel, Halliburton, Abbott, Reynolds American

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Wall Street was higher on Wednesday morning, helped by a rise in energy and financial stocks, but a drop in Intel limited gains, especially on the Nasdaq.

The Dow Jones Industrial Average was up 0.29 percent at 18,215.29, the S&P 500 was up 0.20 percent at 2,143.83 and the Nasdaq Composite was up 0.04 percent at 5,245.683.

** INTEL CORP, $35.64, -5.59 pct

** MICRON TECHNOLOGY INC, $17.059, -2.02 pct

** ADVANCED MICRO DEVICES INC, $6.6189, -1.65 pct

** PHILADELPHIA SE SEMICONDUCTOR INDEX, -0.81 pct

Intel, the world’s largest chipmaker, gave a current-quarter revenue forecast that disappointed Wall Street. The news weighed on other chipmakers.

** ASML HOLDING NV, $104.6, +2.22 pct

The Dutch chip equipment maker, a key supplier to Intel and Samsung, reported better-than-expected quarterly sales, while its closely followed order book also beat expectations.

** MORGAN STANLEY, $32.62, +0.93 pct

The bank reported a better-than-expected quarterly profit, boosted by a surge in bond trading that followed the Brexit vote and bouts of anxiety about monetary policy globally.

** HALLIBURTON CO, $49.1, +4.31 pct

** SCHLUMBERGER LTD, $82.95, +1.92 pct

** BAKER HUGHES INC, $52.49, +1.72 pct

Halliburton, the world’s No. 2 oilfield services provider, posted a surprise quarterly profit, helped by higher cost cuts, and said it expected a rise in oil prices to boost rig count.

** ABBOTT LABORATORIES, $40.26, -2.21 pct

** ST. JUDE MEDICAL INC, $79.31, -0.16 pct

Abbott, which is in the process of acquiring St. Jude, reported quarterly adjusted profit that met Wall Street’s expectations, while sales just edged past estimates.

** REYNOLDS AMERICAN INC, $45.85, -3.00 pct

** PHILIP MORRIS INTERNATIONAL, $96.34, -0.23 pct

** ALTRIA GROUP INC, $62.06, -0.96 pct

Reynolds American reported Q3 revenue and profit below estimates as domestic cigarette volumes fell 1.5 percent.

The results also weighed on Philip Morris and Altria.

** RITE AID CORP, $6.695, -4.63 pct

** KROGER CO, $30.79, +0.49 pct

** WALGREENS BOOTS ALLIANCE INC, $77.4, -0.87 pct

Kroger may not buy some of the 650 stores that Walgreens and Rite Aid Corp plan to sell to win regulatory approval for Walgreens planned acquisition of Rite Aid, the NY Post said (nyp.st/2efQjwq)

** IMPERVA INC, $39.45, -15.43 pct

The cybersecurity company’s sale process has been put on hold as it looks for a higher price for itself, according to reports.

** AMERICA‘S CAR-MART INC, $41.6, +11.53 pct

BofA Merrill upgraded the auto retailer’s stock to ‘buy’, according to a trader.

** YAHOO INC, $42.66, +2.35 pct

** VERIZON COMMUNICATIONS INC, $50.55, +0.56 pct

Yahoo reported better-than-expected quarterly adjusted profit on Tuesday, a boost for the beleaguered company whose deal to sell its core business to Verizon has been shaken by a massive data breach.

BREAKINGVIEWS-Yahoo’s stripped-down earnings miss the point

** STARBUCKS CORP, $53.615, +1.91 pct

The world’s biggest coffee chain named its first chief executive officer for China and said it plans to more than double its store count in that country to 5,000 by 2021.

** GNC HOLDINGS, $21.04, +8.45 pct

The WSJ reported that the retailer of health products met with a range of Chinese buyers to gauge interest in potential buyout.

** NEKTAR THERAPEUTICS, $13.42, -4.69 pct

The cancer drug developer said its public offering of 13 million common shares was priced at $13.50 apiece, a 4 percent discount to Tuesday’s close, for $175.5 million in aggregate gross proceeds.

** INTUITIVE SURGICAL INC, $687.57, -4.73 pct

The company reported a 26 percent increase in third-quarter profit on higher sales of its da Vinci surgical robots and double-digit growth in procedures using the pricey equipment, but maintained its full-year forecast for procedure growth.

** CREE INC, $22.73, -9.80 pct

The LED maker forecast Q2 adjusted EPS of 4-10 cents per share from continuing operations, well below analysts average estimate of 13 cents. Its revenue forecast also misses expectations.

** PUMA BIOTECHNOLOGY INC, $45.15, -14.25 pct

The biopharmaceutical company said it is commencing a public offering of $150 million of shares of its common stock.

** ASCENDIS PHARMA A/S, $19.5, -2.94 pct

The clinical stage biopharmaceutical company said its offering of 6.32 million ADSs, each representing one ordinary share, was priced at $19 per ADS.

** BANC OF CALIFORNIA INC, $13.29, +18.03 pct

The bank holding company reported Q3 net income which more doubled to $35.9 million, helped by higher net interest income.

** MANHATTAN ASSOCIATES INC, $53.76, -8.89 pct

The maker of supply chain management software missed Q3 revenue estimates, hurt by lower demand in its software license and hardware businesses and weakness in North America.

** CANADIAN PACIFIC RAILWAY LTD, $150.92, -1.64 pct

Canada’s No.2 railroad operator reported a 9.1 percent drop in quarterly revenue on Wednesday, due mainly to a delayed grain harvest and lower crude oil volumes.

** CERULEAN PHARMA INC, $1.02, +49.82 pct

The drug developer said Aspire Capital Fund bought 800,000 shares for $1.25 each under a $20 million common stock purchase and registration rights agreements. Cerulean also to collaborate with Novartis and get an upfront payment of $5 million, plus certain other funding and milestones payments. (Compiled by Ahmed Farhatha in Bengaluru; Editing by Savio D‘Souza)

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