Oct 25 (Reuters) - Some U.S. stocks on the move on Thursday:
Stocks opened higher on optimism the economies of both the U.S. and China may be recovering. U.S. jobless claims fell by 23,000 in the latest week while the Ministry of Industry and Information Technology said China’s factory output should grow faster sequentially in the fourth quarter.
The Dow Jones industrial average was up 70.34 points, or 0.54 percent, at 13,147.68. The Standard & Poor’s 500 Index was up 8.59 points, or 0.61 percent, at 1,417.34. The Nasdaq Composite Index was up 23.19 points, or 0.78 percent, at 3,004.88.
** PROCTER & GAMBLE CO, $70.06, up 3 pct (0945 ET)
Procter & Gamble’s profit excluding items rose more than expected and the world’s largest household products maker maintained a key forecast for the year, which indicated it is making progress after coming under pressure from activist investor William Ackman.
** CHEVRON CORP, $110.45, up 0.7 pct (0945 ET)
The company announced further natural gas discovery offshore Australia.
** ZYNGA INC, $2.45, up 15 pct (0946 ET)
The “FarmVille” creator raised the lower end of its 2012 earnings outlook after quarterly revenue beat Wall Street’s rock-bottom expectations.
** FORD MOTOR CO, $10.43, up 2.6 pct (0946 ET)
The carmaker said it will reduce production capacity in Europe by 18 percent, or 355,000 vehicles, and cut 6,200 jobs to bring its European operations back into profit.
** PSS WORLD MEDICAL, $28.64, up 32.6 pct (0945 ET)
McKesson Corp will buy PSS for $1.46 billion to bolster its medical surgical business.
** POTASH CORP , $40.36, down 0.6 pct (0948 ET)
The world’s biggest fertilizer maker reported a 22 percent drop in third-quarter earnings on Thursday, just below analysts’ expectations, as sales of the crop nutrient potash to China and India slipped, the company said.
** INTERNATIONAL PAPER CO, $35.76, down 1.7 pct (0949 ET)
One of the world’s largest producers of corrugated packaging and paper posted a lower-than-expected profit on Thursday due to weak sales of consumer packaging in North America and Asia.
** COLGATE-PALMOLIVE CO, $106.64, down 1.8 pct (0949 ET)
The toothpaste maker unveiled a cost-cutting plan that included cutting its workforce by the end of 2016 by about 6 percent.
** FUSION-IO INC, $25.03, down 8.3 pct (0950 ET)
The company, which makes hard disks and storage software, forecast second-quarter results below Wall Street’s expectations.
At least three brokerages cut their price targets on the stock. “The Dec-qtr guide was disappointing as it represented the first quarter in which Fusion-io did not raise expectations,” RBC Capital Markets analyst Amit Daryanani said.
** LSI CORP, $6.60, up 5 pct (0950 ET)
The chipmaker forecast on Wednesday revenue below expectations as slow PC sales and a weak economy hurt demand for storage controllers.
** CELGENE CORP, $75.14, up 1.5 pct (0951 ET)
The company’s quarterly earnings rose 14 percent, beating expectations, on strong sales of its Revlimid cancer treatment and lower costs, and the biotechnology company narrowly raised its full-year profit forecast.
** BIOGEN IDEC INC, $146.17, up 2.9 pct (0951 ET)
The biotechnology company reported a much higher-than-expected quarterly profit on increased sales of its drugs for multiple sclerosis and cancer, and raised its full-year earnings forecast.
** STARWOOD HOTELS & RESORTS WORLDWIDE INC, $51.97, down 2.7 pct (0952 ET)
Starwood, whose brands include Sheraton and Westin, posted a better-than-expected quarterly profit on higher room rates and occupancy, and the company raised its forecast for the full year.
** BEST BUY CO INC, $16.05, down 5 pct (0952 ET)
The retailer warned that earnings and same-store sales would fall for its third quarter, and said the head of its U.S. business will leave as the world’s largest consumer electronics chain starts to restructure under a new CEO.
** F5 NETWORKS INC, $16.03, down 5.3 pct (0952 ET)
The network gear maker forecast a weak first-quarter as its large U.S. enterprise and telecoms customers reduced spending.
** SYMANTEC CORP, $16.028, up 5.3 pct (0952 ET)
Symantec reported results ahead of Wall Street expectations as its new chief executive took direct control its sales force as part of an effort to turn around the maker of security software.
At least three brokerages raised their price targets on the stock.
** WORLD ACCEPTANCE CORP, $64.64, down 4.6 pct (0953 ET)
The payday and online lender posted second-quarter profit that widely missed Wall Street estimates, as the company was hurt by higher costs and setting aside more money to cover bad loans.
** RYLAND GROUP INC, $34.94, up 6.6 pct (0953 ET)
The home builder reported better-than-expected third quarter results, helped by a jump in homebuilding revenue as new orders rose more than 55 percent during the period.
** SUPERVALU INC, $3.04, up 4.2 pct (0954 ET)
Buyout firm Cerberus Capital Management is preparing a takeover bid for the third-largest U.S. supermarket chain with an eye toward divesting the troubled company’s assets to several parties only interested in pieces, according to people familiar with the matter.
** AKAMAI TECHNOLOGIES INC, $38.52, up 6.7 pct (0954 ET)
The company’s third-quarter results topped estimates and the Internet content delivery company said it expects increased online activity during the holiday season to boost its revenue.
** CLIFFS NATURAL RESOURCES INC, $38.96, down 8.7 pct (0955 ET)
The largest North American producer of iron ore pellets used in steelmaking, posted an 85 percent drop in profit on lower iron ore prices and higher costs. nL3E8LO7X1
** CROCS INC, $13.29, down 18 pct (0955 ET)
The shoemaker said weakness in Europe hurt its third-quarter revenue, and forecast fourth-quarter results below analysts’ expectations.
** CORELOGIC INC, $26.90, up 1.3 pct (0955 ET)
The company forecast full-year results above analysts’ expectations and reported better-than-expected quarterly results.
** LOGMEIN INC, $22.65, up 13 pct (0956 ET)
The company which makes remote access software, reported third-quarter profit above analysts estimates, helped by a rise in subscription revenue and forecast marginally better-than-expected results for the current-quarter.
** MEAD JOHNSON NUTRITION CO, $65.45, down 6 pct (0956 ET)
The maker of Enfamil baby formula reported lower quarterly profit on Thursday and cut its full-year outlook, hurt by a slowdown in China.
** MYLAN INC, $24.72, up 3.25 pct (0957 ET)
Mylan’s quarterly profit rose 35 percent, driven by a rise in sales of EpiPen, its anti-allergen delivery product, and its generic drugs in North America, and the drugmaker raised its adjusted earnings forecast for 2012.
** DUNKIN’ BRANDS GROUP INC, $31.96, up 3.7 pct (0957 ET)
Dunkin’ Brands’ profit quadrupled, topping Wall Street estimates, but revenue fell short of forecasts as sales cooled at established U.S. Dunkin’ Donuts cafes.
** PULTEGROUP INC, $17.30, up 0.85 pct (0957 ET)
The second largest U.S. homebuilder reported a higher-than-expected quarterly profit and a sharp rise in new orders as housing demand rebounded.
** TIMKEN CO, $38.77, down 5.9 pct (0957 ET)
The bearings maker posted a lower quarterly profit and cut its full-year sales forecast, citing weak demand and a fragile global economy.
** BUNGE LTD, $70.04, down 2.6 pct (0958 ET)
The agribusiness firm reported weaker-than-expected third-quarter results, hurt by drought and other adverse weather conditions that have reduced global harvests.
** INFINERA CORP, $4.91, up 4.5 pct (0958 ET)
The company, which makes chips used in telecom networks, reported a smaller-than-expected third-quarter loss, helped by new customers and higher demand for its products.
** SKECHERS USA INC, $17.67, up 6.4 pct (0959 ET)
The company, which designs and sells shoes of its namesake brand, reported its first profit in four quarters on Wednesday, as it benefited from tighter inventory control and gave an upbeat outlook on strong sales across all operating segments.
** ANGIE‘S LIST INC, $11.43, up 25.7 pct (0959 ET) The company, which provides consumer reviews of local professionals and businesses, posted higher third-quarter earnings that beat analysts’ expectations and forecast current-quarter revenue inline with expectations.
** WYNN RESORTS LTD, $115.67, up 5.7 pct (0959 ET)
The Las Vegas-based company said on Wednesday it would issue an $8 per share dividend and was doubling its quarterly dividend to $1 a share in 2013.
** CIENA CORP, $12.59, up 3.45 pct (1000 ET)
FBR Capital Markets raised the network equipment maker to “outperform.”
** CME GROUP INC, $54.90, down 2.9 pct (1000 ET)
The biggest operator of U.S. futures exchanges reported a 30.5 percent decline in quarterly profit as investors bought and sold fewer futures and options.
** EVERCORE PARTNERS INC, $27.53, up 7.4 pct (1000 ET)
The company’s third quarter profit beat Wall Street estimates as the boutique investment bank closed more deals despite a weak M&A market and saw lower compensation related expenses.
** AETNA INC, $44.42, up 1 pct (1001 ET)
The third-largest U.S. health insurer reported a higher quarterly profit that beat expectations, saying it had reached its 2012 goal of 18.2 million members ahead of schedule and kept costs down.
** SHIRE PLC , $86.42, up 1.7 pct (1001 ET)
The pharmaceutical group said its chief executive Angus Russell would be replaced by Flemming Ornskov, an executive from Bayer, to help steer the acquisitive company to continued growth.
** GENERAL MOTORS CO, $24.02, up 1.4 pct (1001 ET)
General Motors plans to have talks to buy a stake in its South Korean unit from the unit’s second-biggest shareholder, Korea Development Bank(KDB), the head of GM Korea said on Thursday.
** MEDTRONIC INC, $41.83, down 0.3 pct (1002 ET)
The medical device maker edited health journal articles and paid physicians for company-sponsored studies of its Infuse bone graft product used in spinal surgery, a U.S. Senate Committee alleged in a report published on Thursday. (Compiled by Ranjita Ganesan in Bangalore)