February 24, 2017 / 6:18 PM / 7 months ago

BUZZ-U.S. STOCKS ON THE MOVE-Applied Optoelectronics, RH, Cempra, DigitalGlobe

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The Dow Jones Industrial Average was on track to break its 10-day record-setting streak on Friday, as investors reassessed the “Trump rally” after recent comments suggested that pro-growth policies might take longer to be implemented.

The Dow Jones Industrial Average was down 0.25 percent at 20,757.52, the S&P 500 was down 0.22 percent at 2,358.55 and the Nasdaq Composite was down 0.22 percent at 5,822.81.

** APPLIED OPTOELECTRONICS INC, $48.79, +30.21 pct

The network component maker posted its seventh straight revenue beat, fueled by strong demand for its data center products.

** RH, $32.04, +27.19 pct

The luxury furniture retailer reported preliminary adjusted net revenue of about $590 million for the fourth quarter, ahead of the average analyst estimate of $583.5 million and announced a $300 million repurchase program.

** CEMPRA INC, $4.30, +36.51 pct

The drug developer said its oral experimental drug to treat acute bacterial skin infections met the main goal of a late-stage study.

** DIGITALGLOBE INC, $31.50, -7.49 pct

MacDonald Dettwiler and Associates Ltd said it had agreed to buy U.S.-based satellite imagery provider DigitalGlobe Inc for about C$3.10 billion ($2.40 billion) to strengthen its position in the U.S. market.

** ACACIA COMMUNICATIONS INC, $54.93, -13.41 pct

The optical networking company’s fourth-quarter top-line and bottom-line beat estimates, but its first-quarter earnings per share and sales forecast missed Street expectations due to lower-than-anticipated order rate from larger customers.

** J.C. PENNEY CO INC, $6.45, -5.98 pct

The department store operator said it would close 130-140 stores over the next few months, and reported a bigger-than-expected drop in same-store sales for the holiday quarter.

** APPLE INC, $136.11, -0.31 pct

The company’s shares dipped after a video of an iPhone 7 Plus beginning to smoke widely has been shared on Twitter, sending shares down.

** ACADIA HEALTHCARE CO INC, $45.10, +4.30 pct

The behavioral healthcare provider reported better-than-expected fourth-quarter earnings, helped by an increase in same facility revenue.

** BIOMARIN PHARMACEUTICAL INC, $86.28, -3.37 pct

The drugmaker reported a wider-than-expected fourth quarter loss of 53 cents per share versus the average analyst estimate of 38 cents per share.

** STONE ENERGY CORP, $6.72, +8.21 pct

The oil and gas producer’s shares were trading up after announcing details of its emergence from Chapter 11 reorganization.

** PORTOLA PHARMACEUTICALS INC, $33.37, +3.76 pct

Oppenheimer upgrades the drug developer’s stock to “outperform”, sending its shares to a one-year high.

** CLEARSIDE BIOMEDICAL INC, $7.83, +13.48 pct

JP Morgan starts coverage of the ophthalmic drug developer with an “overweight” rating.

** HI CRUSH PARTNERS LP, $18.15, -11.68 pct

The frac sand MLP offers 20.5 million units at $18, a 12.4 percent discount to its Thursday close.

** UNIVERSAL DISPLAY CORP, $81.25, +20.46 pct

The telephone and mobile display maker reported fourth-quarter revenue and profit ahead of Street estimates, helped by higher royalty and license fees and contract research services revenue.

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $16.36, -1.33 pct

Wells Fargo analyst David Maris said the Canadian drugmaker’s shares are overvalued at current levels, sending shares down.

** PHARMERICA CORP, $25.25, -5.61 pct

The pharmacy services provider forecasts 2017 adjusted profit of $1.75-$1.95 per share, well below the average analyst estimate of $2.18.

** SOUTHWESTERN ENERGY CO, $7.57, -9.34 pct

The energy producer reported a much smaller-than-expected quarterly adjusted EPS for the second straight quarter.

** HEWLETT PACKARD ENTERPRISE, $22.81, -7.50 pct

The IT services provider cut its full-year profit forecast, as the corporate hardware and enterprise software business of Hewlett-Packard Co faces intense competition in its cloud-related business and struggles with a strong dollar.

** WATSCO INC, $148.79, -2.17 pct

No. 1 holder United Technologies divests its stake in the air conditioner parts distributor.

** NORDIC AMERICAN OFFSHORE LTD, $1.25, -39.02 pct

The offshore service provider announced a public offering of 33.3 million common shares and said it would use proceeds for general corporate purposes, working capital purposes and expansion of its fleet.

** ALPHABET INC, $844.29, -0.79 pct

Alphabet Inc’s Waymo self-driving car unit sued Uber Technologies and its autonomous trucking subsidiary Otto on Thursday over allegations of theft of its confidential and proprietary sensor technology.

** BAIDU INC, $175.83, -4.77 pct

The Chinese internet search giant revenue fell for a second straight quarter, hurt by a government crackdown on healthcare advertising, but the internet search giant expects a rebound this year as it retools to find growth outside its core ad business.

** HILTON WORLDWIDE HOLDINGS INC, $57.81, +1.05 pct

The owner of the Waldorf Astoria hotel chain said it would buy back up to $1 billion of its shares, and that it would change its corporate name to “Hilton Inc”, effective March 6.

** MAGNA INTERNATIONAL INC, $43.39, -3.90 pct

The Canadian auto parts maker reported a lower-than-expected quarterly profit as costs rose. (Compiled by Vishaka George in Bengaluru; Edited by Martina D‘Couto)

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