November 8, 2016 / 6:42 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Valeant, Hertz, CVS, Priceline, Endo

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, here ; for the Morning News Call newsletter, here ) U.S. stocks moved higher on Tuesday afternoon, with market sources citing projections from data firm VoteCastr favoring Democrat Hillary Clinton in the U.S. presidential election.

The Dow Jones Industrial Average was up 0.60 percent at 18,368.45, the S&P 500 was up 0.52 percent at 2,142.71 and the Nasdaq Composite was up 0.68 percent at 5,201.13.

FACTBOX-Wall St picks possible sector winners, losers in Clinton or Trump win FACTBOX-Wall St’s take on possible impact of U.S. elections


The Canadian drugmaker reported a smaller-than-expected quarterly profit due to faltering sales of its dermatology products and irritable bowel syndrome drug, and the company also its full-year profit and revenue forecasts, warning that 2017 could be even more challenging as some products face new competition.

** HERTZ GLOBAL HOLDINGS INC, $24.16, -32.40 pct

** AVIS BUDGET GROUP, $35.41, -9.21 pct

The car rental company’s quarterly profit fell well short of analysts average estimate and Hertz also slashed its full-year adjusted profit forecast as it expects to take a hit from higher vehicle depreciation.

Shares of smaller rival Avis Budget also took a hit.

** CVS HEALTH CORP, $72.96, -12.51 pct

** WALGREENS BOOTS ALLIANCE INC, $79.97, -1.82 pct

Drugstore chain and pharmacy benefits manager CVS cut its profit forecast for this year and projected weak growth for 2017, saying it expected to lose more than 40 million retail prescriptions to other pharmacy chains.

The news also hit rival Walgreens Boots Alliance.

** PRICELINE GROUP INC, $1,579.6, +6.71 pct

The travel website operator’s quarterly profit and revenue beat analysts’ estimates, driven by higher hotel and rental car bookings, and the company reported strong gross bookings.

** ENDO INTERNATIONAL PLC, $14.495, -7.56 pct

The drugmaker is facing increasing pricing and competitive pressure in its U.S. generics business, and trends indicate stronger headwinds going in to 2017, newly-appointed Chief Executive Paul Campanelli warned on Tuesday.

** MATSON INC, $33.22, -19.87 pct

The shipping company forecast fourth-quarter ocean transportation operating income to be about 15 percent lower than the year-earlier level.

** HEALTHWAYS INC, $22, +10.55 pct

UBS analysts upgraded the healthcare services provider’s stock to “buy” from “sell”.

** SMITH & WESSON HOLDING CORP, $28.31, +1.65 pct

** STURM RUGER & CO INC, $64.9, +1.64 pct

Analyst at Lake Street Capital Markets sees surge in gun-buying if Hillary Clinton wins the U.S. election.

** STONE ENERGY CORP, $5.07, +26.12 pct

The oil and gas company expects to eliminate about $850 million in principal of outstanding debt and reduce annual interest payment burden by nearly $46 million by restructuring.

** IAMGOLD CORP, $4.35, +9.57 pct

The Canadian gold producer reported quarterly net earnings of $17 million, smaller than a loss of $85 million a year-earlier.

** ACADIA PHARMACEUTICALS INC, $26.93, +17.14 pct

The drugmaker reported a better-than-expected quarterly revenue, driven by sales of its only approved drug, nuplazid.

** PRA GROUP INC, $26.455, -14.80 pct

The collector of unpaid loans reported quarterly revenue and GAAP earnings per share that missed analysts’ estimates.

** HECLA MINING CORP, $7.19, +8.61 pct

The silver miner’s quarterly profit and revenue beat analysts’ estimates.

** ROCKWELL MEDICAL INC, $4.2, -25.80 pct

The drug developer reported lower-than-expected quarterly revenue due to lower contract manufacturing sales.

** KINDRED HEALTHCARE INC, $6.5, -25.71 pct

The integrated health service provider’s quarterly revenue missed the average analyst estimate.

** TESLA MOTORS INC, $195.834, +1.36 pct

The electric carmaker said on Tuesday it would buy German firm Grohmann Engineering to improve its automated manufacturing systems. Financial terms were not disclosed.

** ANHEUSER-BUSCH INBEV SA NV, $115.35, +2.04 pct

At least six indicative offers have been submitted by industry players and buyout funds for a group of beer brands being sold by Anheuser-Busch InBev, sources familiar with the matter said.


The multi-industry U.S. manufacturer posted unexpectedly higher quarterly sales and adjusted earnings.

** CGG SA, $18.3, -29.37 pct

The French geophysical equipment maker’s quarterly operating result swung to loss (before non-recurring charges) on a 44 percent drop in revenue.

** ONEMAIN HOLDINGS INC, $17.01, -38.30 pct

At least 9 brokerages cut price target on the lender’s stock after the company reported lower-than-expected profit on Monday.

** WAYFAIR INC, $30.16, -10.37 pct

The furniture retailer’s revenue forecast fell short of expectations and the company guided for continued losses.

** D.R. HORTON INC, $28.03, -4.56 pct

The largest U.S. homebuilder reported a lower-than-expected quarterly profit and its slowest growth in orders in nearly three years.


The software maker reported higher-than-expected quarterly revenue as cloud revenue rose 40 percent.

** AMERICAN PUBLIC EDUCATION INC, $15.42, -23.28 pct

The for profit education company’s quarterly earnings showed concerns about enrollment. The company also forecast fourth-quarter revenue to be down 3-6 percent.

** PREMIER INC, $30.02, +5.30 pct

The healthcare company reported a quarterly adjusted profit that marginally beat analysts’ estimates on continued demand for its supply chain, analytics and advisory solutions.

** OSIRIS THERAPEUTICS INC, $5.32, +26.97 pct

The regenerative medicine developer reported 2014 and 2015 preliminary revenue estimates and anticipated 2016 revenue as it continues to complete the restatement of its 2014 financial statements.

** OASIS PETROLEUM INC, $11.37, +5.18 pct

The oil and gas producer reported a smaller-than-expected quarterly adjusted loss.

** FLEX PHARMA INC, $6.99, +12.56 pct

Chief Executive Christoph Westphal reported purchase of 8,870 shares of company’s common stock on Nov. 7 at average price of $5.70 per share.

** CELLDEX THERAPEUTICS INC, $3.83, +16.41 pct

The drug developer reported a smaller-than-expected quarterly loss due to a drop in operating expenses.

** NEWS CORP, $11.455, -6.26 pct

The owner of the Wall Street Journal, Dow Jones Newswires and book publisher HarperCollins reported a quarterly loss as it struggles to cope with a decline in newspaper advertising sales.

** ARCELORMITTAL SA, $6.38, -6.45 pct

The world’s largest steel producer warned of slower earnings this quarter citing higher coal prices and lower U.S. steel prices after the company missed core third-quarter profit expectations.

** PERKINELMER INC, $50.94, -1.79 pct

The scientific instruments maker on Monday reported its third-quarter revenue declined, missing Wall Street estimates, and it lowered the high end of its full-year earnings forecast.

** DEPOMED INC, $18.58, -18.83 pct

The drugmaker’s quarterly profit and revenue missed analysts average estimate due to a disconnect between prescription demand and wholesaler shipments as well as influenced net sales of Nucynta and Gralise. Depomed also slashed its full-year profit and revenue forecasts. (Compiled by Sruthi Shankar in Bengaluru; Editing by Savio D’Souza)

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