November 11, 2016 / 2:12 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-J.C. Penney, Walt Disney, Nvidia

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U.S. stocks were set to open lower on Friday as investors tailored their portfolios to benefit from President-elect Donald Trump’s proposed policies.

Dow Jones industrial average futures were down 0.22 percent at 18,744, S&P 500 futures were down 0.44 percent at 2,157.75 and Nasdaq 100 futures were down 0.52 percent at 4,719.25.

** J.C. PENNEY CO INC, Thursday close $8.81, -6.36 pct premarket

The department store operator reported a surprise 0.8 percent fall in quarterly comparable-store sales, reflecting weak traffic, increased competition from online and off-price retailers and a general shift away from spending on apparel.

** WALT DISNEY CO, Thursday close $94.96, +2.59 pct premarket

The media company executives promised earnings growth for the next two years, easing investor concerns over a quarterly drop in ad sales and subscribers at its ESPN sports network.

** NVIDIA CORP, Thursday close $67.77, +17.16 pct premarket

The company reported its biggest quarterly revenue growth in more than six years as demand soared for its gaming chips used in personal computers.

** PTC THERAPEUTICS INC, Thursday close $6, +80.17 pct premarket

European Medicines Agency’s Committee for Medicinal Products for Human Use recommended renewal of conditional marketing authorization of Translarna for treatment of nonsense mutation Duchenne muscular dystrophy.

** ALIBABA GROUP HOLDING LTD, Thursday close $94.34, -1.53 pct premarket

Chinese e-commerce company’s Singles’ Day sales surged past last year’s 91.2 billion yuan ($13.36 billion) total, but growth was markedly slower than in 2015 as shoppers sought even bigger price cuts.

** COMMSCOPE HOLDING, Thursday close $34.11, -3.02 pct premarket

Top shareholder Carlyle Group divested its remaining position in the network gear maker.

** CONOCOPHILLIPS, Thursday close $44.78, -1.54 pct premarket

The largest U.S. independent oil producer will sell up to $8 billion in natural gas assets and trim its capital budget by 4 percent next year to provide funds to bolster operations, executives said. (Compiled by Sruthi Shankar in Bengaluru; Editing by Anil D’Silva)

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