* Eikon search string for individual stock moves: STXBZ
* The Day Ahead newsletter: tmsnrt.rs/2ggOmBi
* The Morning News Call newsletter: tmsnrt.rs/2fwPLTh The Dow and S&P 500 dipped on Friday, led by bank and energy stocks, as investors booked profits after a record-setting few days, while gains in Kraft Heinz helped keep the Nasdaq afloat.
The Dow Jones Industrial Average was down 0.30 percent at 20,557.44, the S&P 500 was down 0.16 percent at 2,343.56 and the Nasdaq Composite was up 0.11 percent at 5,821.409.
** KRAFT HEINZ CO, up 7.4 pct at $93.74, volume 5.5x their 10-day moving average
** UNILEVER PLC, up 11.9 pct at $47.63, volume 16.1x their 10-day moving average
** MONDELEZ INTERNATIONAL INC, down 1.3 pct at $42.64, volume 1.9x their 10-day moving average
Unilever, the maker of Lipton tea and Dove soap, rejected a surprise $143 billion takeover bid from U.S. food company Kraft Heinz on Friday. But Kraft said it looked forward to “working to reach agreement on the terms of a transaction”.
Mondelez, rumored to be a Kraft acquisition target, dropped on the news.
** CITIGROUP, down 0.7 pct at $59.94, volume 0.5x their 10-day moving average
** BANK OF AMERICA, down 0.5 pct at $24.45, volume 0.4x their 10-day moving average
** MORGAN STANLEY, down 0.2 pct at $46.04, volume 0.4x their 10-day moving average
** WELLS FARGO, down 0.4 pct at $57.90, volume 0.4x their 10-day moving average
** JPMORGAN, down 0.4 pct at $90.19, volume 0.5x their 10-day moving average
** GOLDMAN SACHS, up 0.2 pct at $249.84, volume 0.4x their 10-day moving average
U.S. banks stocks, which have flourished in the so-called “Trump trade”, fall on profit-taking as investors look for more clarity on President Trump’s tax, regulation and trade policies.
** UNITEDHEALTH GROUP INC, down 4.1 pct at $156.90, volume 2.2x their 10-day moving average
** CIGNA CORP, down 1.3 pct at $143.38, volume 0.6x their 10-day moving average
** ANTHEM INC, down 1.8 pct at $160.85, volume 0.5x their 10-day moving average
** AETNA INC, down 2.8 pct at $125.91, volume 0.6x their 10-day moving average
** HUMANA INC, down 1.9 pct at $204.75, volume 0.7x their 10-day moving average
The U.S. DoJ has joined a whistleblower lawsuit against UnitedHealth, the country’s largest health insurer, that claims the company and its units and affiliates overcharged Medicare hundreds of millions of dollars, a law firm representing the whistleblower said.
Other insurers also fell.
** CSX CORP, up 1.4 pct at $48.36, volume 0.6x their 10-day moving average
Mantle Ridge, the activist investor targeting the U.S. railroad operator said in a letter to the company’s board on Thursday that he was willing to adjust certain demands as long as his CEO candidate was guaranteed a four-year contract.
** GRANITE CONSTRUCTION INC down 7.7 pct at $50.75, volume 3.3x their 10-day moving average
The company reported fourth-quarter profit and revenue below estimates, blaming “particular weakness in the Large Project Construction segment”.
** CELGENE CORP, up 1.7 pct at $120.68, volume 0.7x their 10-day moving average
The biotech company’s investigational oral drug, Ozanimod, to treat relapsing multiple sclerosis met the primary goal of a late-stage study.
** ORCHID ISLAND CAPITAL INC, down 9.4 pct at $11.23, volume 6.0x their 10-day moving average
The specialty finance firm posted a fourth-quarter loss, versus a profit a year earlier, hurt largely by losses in its residential mortgage-backed securities (MBS) portfolio. Maxim Group downgraded its rating on the stock to “hold” from “buy” and removed its price target of $11.25.
** J.M. SMUCKER CO, down 3.1 pct at $133.56, volume 1.5x their 10-day moving average
The company said full-year sales may fall more than it had anticipated as its Folgers coffee and pet snacks businesses face pressure from rising competition and commodity costs.
** TIMKENSTEEL CORP, up 9.1 pct at $19.34, volume 2.8x their 10-day moving average
The alloy steel manufacturer’s fourth-quarter sales rose 3.9 percent on higher shipments, and the company expects current-quarter shipments to rise 40 percent sequentially.
** HERTZ GLOBAL HOLDINGS INC, down 7.7 pct at $19.99, volume 1.1x their 10-day moving average
Brokerage Credit Suisse cut its rating on the struggling car rental company to “underperform” from“ neutral” and slashed its price target to $15 from $27.
** LMI AEROSPACE INC, up 49.0 pct at $13.69, volume 79.6x their 10-day moving average
The aircraft components maker agreed to be acquired by Belgium-based Sonaca Group for $14 per share in cash.
** DAVITA INC, up 4.1 pct at $67.31, volume 1.6x their 10-day moving average
The dialysis service provider reported a better-than-expected quarterly profit on Thursday as demand rose for its kidney care services.
** CAMPBELL SOUP CO, down 6.9 pct at $58.26, volume 2.3x their 10-day moving average
The world’s largest soupmaker reported lower-than-expected quarterly sales, hurt by weak demand for its V8 beverages, broth and condensed soups.
** NORTHERN DYNASTY MINERALS LTD, up 3.8 pct at $2.35, volume 0.5x their 10-day moving average
The miner hit back at hedge fund Kerrisdale Capital, which called the company “worthless”, stating that its claims have “numerous misstatements” and “deliberate inaccuracies”.
** MRC GLOBAL INC, down 2.9 pct at $20.40, hits record high of $20.90, volume 3.6x their 10-day moving average
The distributor of pipe, valves and fittings posted a bigger than expected fourth-quarter loss and sales missed Wall Street, hurt by “reduced customer activity” in the oil and gas industry.
** BOEING CO, up 1.0 pct at $172.58, 172.74, volume 0.6x their 10-day moving average
The planemaker’s shares hit a fresh record high with President Donald Trump set to visit the company’s plant in South Carolina.
** ARCH COAL INC, up 2.9 pct at $74.23, volume 0.9x their 10-day moving average
Jefferies initiated coverage on the stock with a “buy” rating, a day after President Donald Trump signed a measure to roll back a coal mining rule of the previous administration.
** ARISTA NETWORKS INC, up 18.4 pct at $118.64, volume 6.6x their 10-day moving average
The cloud-based networking software maker reported better-than-expected fourth-quarter revenue and profit, building on its impressive streak of beating on both top and bottom line in last eight quarters. At least half of the 28 brokerages covering the company raise their price targets.
** FLOWSERVE CORP, down 4.1 pct at $48.71, volume 1.5x their 10-day moving average
The company forecast 2017 adjusted earnings well below average analysts’ estimates, and expects 2017 revenue to fall 6-11 percent vs 2016.
** TRUECAR INC, up 9.3 pct at $14.48, volume 3.6x their 10-day moving average
The online car-shopping service provider posted a smaller-than-expected fourth-quarter loss as expenses fell 10.4 percent and it also forecasts 2017 revenue above estimates, prompting 6 brokerages to raise price targets.
** FREEPORT-MCMORAN INC, down 1.4 pct at $14.87, volume 0.4x their 10-day moving average
Indonesia’s mining ministry recommended on Friday that the U.S. miner’s Indonesian unit be granted a permit to export 1.1 million tonnes of copper concentrates until Feb. 16, 2018.
Freeport has declared force majeure at its Grasberg mine in Indonesia, which cannot meet contractual obligations on copper concentrate shipments, a spokesman said.
** CIRCOR INTERNATIONAL INC, down 11.4 pct at $63.60, volume 2.2x their 10-day moving average
Keybanc downgraded the stock, saying the oil services company had a weak guide for its energy segment’s engineered valves business in 2017, and saw delays of refinery maintenance projects at its newly acquired Critical Flow Solutions (CFS).
** HURON CONSULTING GROUP INC, down 6.4 pct at $43.60, volume 2.6x their 10-day moving average
The management consulting company expects 2017 adjusted profit below estimates, and estimated at 2016 revenue below expectations.
** TRINITY INDUSTRIES INC, up 2.5 pct at $28.98, volume 2.1x their 10-day moving average
The railcar maker reported a better-than-expected Q4 profit, helped by lower costs.
** PIONEER ENERGY SERVICES CORP, down 5.8 pct at $6.13, volume 1.5x their 10-day moving average
The company said it expected revenue from its biggest unit, which provides oil field services, to rise by as much as 30 percent in the first quarter, with more oil companies drilling and completing wells.
** COOPER TIRE & RUBBER CO, up 8.4 pct at $40.85, volume 0.7x their 10-day moving average
The U.S. tire maker reported higher-than-expected fourth-quarter revenue and profit, helped by higher unit sales in Latin America Europe and Asia.
** ASTRAZENECA PLC, up 1.2 pct at $29.12, volume 0.5x their 10-day moving average
The British drugmaker’s Lynparza, already approved to treat ovarian cancer, met the main goal of helping breast cancer patients live longer without their condition worsening in a late-stage study.
** ARQULE INC, down 19.7 pct at $1.18, volume 11.3x their 10-day moving average
The company and Daiichi Sankyo said their liver cancer drug, tivantinib, failed to meet primary goal of improving overall survival in a late-stage study.
** COHU INC, up 15.4 pct at $15.74, volume 6.0x their 10-day moving average
The semiconductor equipment maker’s fourth-quarter results handily beat estimates, and forecast current-quarter revenue above estimates.
** X T L Biopharmaceuticals Ltd, down 37.7 pct at $2.23, volume 4.4x their 10-day moving average
The Israeli biopharmaceutical company said it would raise gross proceeds of $2.5 million from sale of 1 million shares, about 36.5 percent of its outstanding shares, at $2.50 per share.
** IMPINJ INC, down 11.1 pct at $31.43, volume 3.0x their 10-day moving average
The maker of RFID tags and reader chips forecast first-quarter profit below analysts’ expectations, but 4 of the 5 covering brokerages raise their price targets on the stock. (Compiled by Anya George Tharakan in Bengaluru; Editing by Savio D‘Souza)