January 20, 2017 / 6:59 PM / 7 months ago

BUZZ-U.S. STOCKS ON THE MOVE-IBM, Skyworks, Bristol-Myers Squibb, GE

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Wall Street pared gains sharply on Friday after Donald Trump made his inaugural speech as the 45th president of the United States.

The Dow Jones Industrial Average was up 0.25 percent at 19,782.34, the S&P 500 was up 0.18 percent at 2,267.75 and the Nasdaq Composite was up 0.17 percent at 5,549.381.

** INTERNATIONAL BUSINESS MACHINES CORP, $169.60, +1.67 pct

The company forecast full-year earnings above street estimates due to growth in areas such as cloud-based services and analytics.

** SKYWORKS SOLUTIONS INC, $88.38, +12.64 pct

The wireless chipmaker's first-quarter revenue of $914.3 million topped average analysts' estimate of $902.7 million.

** BRISTOL-MYERS SQUIBB CO, $49.44, -10.90 pct

** ASTRAZENECA PLC, $27.03, -3.17 pct

** MERCK & CO INC, $62.52, +3.63 pct

Bristol-Myers Squibb on Thursday said it had decided not to seek accelerated U.S. approval for a combination of its two immunotherapy drugs as an initial treatment for lung cancer. The news also hit rival AstraZeneca, which like Bristol-Myers also has CTLA4 combination in development.

Rival Merck last week said U.S. regulators had agreed to an accelerated review of its application to combine immune system-boosting drug Keytruda with chemotherapy as an initial therapy for advanced lung cancer.

** GENERAL ELECTRIC CO, $30.53, -2.19 pct

The maker of power plants, aircraft engines, locomotives and other industrial equipment said its total revenue fell 2.4 percent to $33.1 billion.

** PROCTER & GAMBLE CO, $86.83, +2.51 pct

The maker of Tide detergent and Pampers diapers reported better-than-expected quarterly sales and profit and raised its fiscal 2017 forecast for organic sales growth.

** AMERICAN EXPRESS CO, $76.07, -0.81 pct

American Express posted a lower-than-expected quarterly profit on Thursday as the credit card issuer boosted spending on marketing and promotion to fend off rising competition.

** AFFIMED NV, $1.73, -19.77 pct

The Germany-based clinical-stage biopharma company's proposed public offering is expected to be priced at a hefty discount.

** SCHLUMBERGER NV, $86.56, -0.73 pct

The world's No.1 oilfield services provider said quarterly revenue fell 8.2 percent to $7.11 billion, marginally beating analysts' estimate of $7.07 billion.

** PLURISTEM THERAPEUTICS INC, $1.10, -21.43 pct

The Israeli biotech raised the size of a previously announced bought-deal offering of common stock and warrants to $15 million, citing increased demand.

** HERBALIFE LTD, $53.45, +0.58 pct

The dietary supplements maker said its fourth-quarter sales would be below its expectations, hurt by a strong dollar, and that volumes would be near the low-end of its previous forecast.

** BELLEROPHON THERAPEUTICS INC, $0.70, +9.45 pct

Brokerage H.C. Wainwright began coverage of the medical device maker's stock with a "buy" rating and a $5 price target.

** STEMLINE THERAPEUTICS INC, $10.43, -5.23 pct

The drug developer offered 4.5 million shares at $10, a 9.1 percent discount to stock's last sale. The company intends to use proceeds to fund development of its three clinical-stage cancer drug candidates.

** EMERGE ENERGY SERVICES LP, $16.24, +10.63 pct

Goldman Sachs upgrades the oilfield services provider's stock to "buy" from "neutral", calling the company the "next rung down sand company".

** ABRAXAS PETROLEUM CORP, $2.56, -5.02 pct

The oil and gas producer priced an upsized underwritten public offering of 25 million shares of its common stock at $2.40 per share, a 10.8 percent discount to stock's Thursday close.

** RIGHTSIDE GROUP LTD, $9.30, +14.25 pct

** TUCOWS INC, $42.40, +16.64 pct

The domain name services provider's wholesale domain name registrar 'eNom' will be bought by Tucows for $83.5 million.

** RITE AID CORP, $7.74, -10.06 pct

** FRED'S INC, $15.74, -2.54 pct

** WALGREEN BOOTS ALLIANCE INC, $81.36, -2.55 pct

The U.S. Federal Trade Commission is not satisfied with Walgreens Boots's plan to divest stores to win antitrust clearance for its acquisition of Rite Aid, Bloomberg reported, citing people familiar with the matter.

The FTC isn't convinced that Walgreen's proposal to sell 865 drugstores to Fred's would do enough to preserve competition that would be lost in the $9.4 billion tie-up, Bloomberg reported on Friday.

** SUNCOKE ENERGY PARTNER LP, $18.20, -5.94 pct

SunCoke Energy Partner LP says IRS excludes cokemaking as a qualifying income generating activity in final regulations under code relating to qualifying income exception for publicly traded partnerships. (Compiled by Akankshita Mukhopadhyay in Bengaluru)

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