November 17, 2016 / 12:52 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Best Buy, Cisco, First Solar

(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 ) S&P 500 and Nasdaq futures were higher on Thursday while Dow futures were little changed, a day after the index broke a seven-day rally, as investors await Federal Reserve Chair Janet Yellen's congressional testimony.

Dow Jones industrial average futures were down 0.02 percent at 18,830, S&P 500 futures were up 0.06 percent at 2,174 and Nasdaq 100 futures were up 0.22 percent at 4,794.

** BEST BUY CO INC, Wednesday close $40.45, +8.28 pct premarket

The No. 1 U.S. electronics retailer reported better-than-expected comparable-store sales, helped by higher demand for consumer electronics and mobile phones.

** CISCO SYSTEMS INC, Wednesday close $31.57, -4.43 pct premarket

The world’s largest networking gear maker forecast an adjusted profit for the current quarter below analysts’ estimate as the company’s traditional business of switches and routers continues to struggle with sluggish demand.

** FIRST SOLAR INC, Wednesday close $32.82, -11.09 pct premarket

The largest U.S. solar equipment maker forecast 2017 sales well below analysts’ estimate, and the company said it would slash about 1,600 jobs, or 27 percent of its global workforce, as it transitions to a new product ahead of schedule.

Seven brokerages including JP Morgan, Baird, Goldman Sachs cuts price target on the co’s quarterly results.

** JPMORGAN CHASE & CO, Wednesday close $77.4, +0.08 pct premarket

Conflicting information on whether JPMorgan Chief Executive Jamie Dimon could become U.S. Treasury secretary as part of President-elect Donald Trump’s Cabinet cast a cloud of uncertainty over the nation’s largest bank on Wednesday.

** TESORO CORP, Wednesday close $85.74, -0.86 pct premarket

** WESTERN REFINING INC, Wednesday close $0.8387

U.S. oil refiner Tesoro said it would buy Western Refining for $4.1 billion to add refineries in Texas, New Mexico and Minnesota.

** SUNCOR ENERGY INC, Wednesday close $30.51

The Canadian oil and gas producer said it expects its production to grow by more than 13 percent next year and forecasts its spending to fall by more than C$1 billion ($746.21 million).

** BRISTOL MYERS SQUIBB CO, Wednesday close $56.2

Japan’s health ministry has set a 50 percent cut in the price of Opdivo, a costly immune system-boosting cancer drug produced by Bristol Myers and marketed in the country by Ono Pharmaceutical Co Ltd, Ono Pharmaceutical said.

** RIO TINTO PLC, Wednesday close $37.36, +0.24 pct premarket

The Anglo-Australian mining giant has sacked two executives after the mining group was plunged into a bribery scandal over multi-million dollar payments linked to an iron ore project in Guinea, The Telegraph reported.

Breakingviews: Rio Tinto takes bitter but helpful graft medicine.

** AMGEN INC, Wednesday close $147.23, +0.93 pct premarket

Amgen and Novartis said late on Wednesday that episodic migraine sufferers reported fewer debilitating headaches per month after using the companies’ investigational drug erenumab, compared to trial participants who got a placebo.

** REGENERON PHARMACEUTICALS, Wednesday close $420.08, -4.23 pct premarket

** SANOFI, Wednesday close $41.17, +0.73 pct premarket

Sanofi and Regeneron said on Thursday they would continue a large clinical outcomes study with their injectable cholesterol-lowering drug Praluent. (Compiled by Laharee Chatterjee; Editing by Maju Samuel)

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