April 19, 2013 / 1:58 PM / 5 years ago

MARKET PULSE-IBM, GE, Interpublic, Manpowergroup, Clayton Williams

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April 19 (Reuters) - Some U.S. stocks on the move on Friday:


The Dow opened lower following disappointing results from GE, McDonald’s and IBM, while other indexes were little changed at the start. The Dow Jones industrial average was down 58.17 points, or 0.40 percent, at 14,478.97. The Standard & Poor’s 500 Index was up 2.26 points, or 0.15 percent, at 1,543.87. The Nasdaq Composite Index was up 4.35 points, or 0.14 percent, at 3,170.71.

** BOEING CO, $88.01, up 2.2 pct (0945 ET)

The company said it would cut the production rate for the latest version of its Boeing 747 jumbo jets from 2 aircraft per month to 1.75 aircraft due to lower demand for large passenger and cargo planes. The first delivery of 747-8 aircraft at the new production rate is expected in early 2014, the company said, adding that the change was not expected to have a significant financial impact.

** IBM CORP, $195.76, down 5.5 pct (0930 ET)

** HP Co, $19.53, down 3.4 pct (0931 ET)

** EMC Corp, $22.15, down 0.8 pct (0931 ET)

IBM reported a rare quarterly earnings miss as it struggled with the depreciation of the Japanese yen and a failure to close a number of major deals, especially in Europe and the United States. The technology services company blamed a poor performance by its sales force for some of the shortfall.

Three brokerages cut their price targets on IBM shares and warned its weak earnings suggested results would also be disappointing at other hardware technology companies such as EMC, Dell Inc and HP.

Lenovo Group said on Friday it was in preliminary talks regarding a potential acquisition, following a media report that IBM was negotiating the sale of its x86 server hardware business to the Chinese computer maker.

** GENERAL ELECTRIC CO, $21.86, down 3.6 pct (0932 ET)

The world’s biggest maker of jet engines and electric turbines reported a first-quarter profit in line with Wall Street’s expectations on Friday, as the conglomerate sold more jet engines and shed its stake in NBC Universal.

** MCDONALD’S CORP, $100.00, down 1.8 pct (0932 ET)

The fast-food chain reported a slight rise in first-quarter profit on Friday, but sales at established U.S. restaurants fell 1.2 percent in a tough environment.

** JOHNSON & JOHNSON, $83.69, up 0.6 pct (0945 ET)

** ELAN CORP, $11.78, down 0.9 pct (0933 ET)

U.S. healthcare firm Johnson & Johnson cut its stake in Elan on Thursday in a move that clouds prospects for a $7.3 billion takeover bid for the Irish drugmaker. U.S. investment firm Royalty Pharma on Monday made an improved $12 per share bid for Elan, which has rejected its suitor’s overtures and wants to remain an independent company.

** INTERPUBLIC GROUP OF COMPANIES INC, $13.52, up 4.6 pct (0945 ET)

Interpublic, the second-biggest U.S. advertising and marketing group and home to advertising agencies McCann Erickson and Draftfcb, reported better-than-expected first-quarter revenue as growth returned to its domestic market after shrinking for three straight quarters.

** CLAYTON WILLIAMS ENERGY INC, $40.24, up 3 pct (0936 ET)

The oil and gas company said it would sell 95 percent of its Wolfberry assets in Andrews County, Texas for $214 million and use the proceeds to repay its outstanding debt.

The company would sell 5 percent of its Wolfberry assets to a newly formed limited partnership for 5 percent general partner interest, and the partnership would purchase the remaining 95 percent.

** COACH INC, $51.09, down 1 pct (0942 ET)

Baird Equity downgraded the upscale leather-goods maker to “neutral” from “outperform,” citing its annual handbag survey that suggested continued market share pressure. The brokerage said it expects domestic market share losses to continue for the company.

** VIVUS INC, $12.20, up 1 pct (0949 ET)

The drugmaker said 23,812 prescriptions of its diet pill, Qsymia, were shipped to patients in March. Leerink Swann analyst Marko Kozul said the prescription data was encouraging and believes Qsymia momentum will soon begin building meaningfully, and lay down the foundation for widespread reimbursement.

Earlier this week, U.S. health regulators approved sales of the Vivus’s diet drug through retail pharmacies, widening the sales network of the drug that is currently available only through mail-order pharmacies.

** VERTEX PHARMACEUTICALS INC, $82.14, up 55.3 pct (0934 ET)

The company said its experimental drug improved lung function in adults with cystic fibrosis in a mid-stage trial. The company said on Thursday favorable results were seen in patients who took the drug, known as VX-661, in combination with its already approved treatment for cystic fibrosis, Kalydeco in a short 28-day study.

** MANPOWERGROUP, $51.20, up 9.1 pct (0935 ET)

The global staffing company reported a 41 percent fall in quarterly profit as its European business remained under pressure, particularly in France. However, the world’s No.3 staffing company forecast second-quarter earnings of 84 to 92 cents per share before one-time items, above the average analyst forecast of 77 cents.

** HONEYWELL INTERNATIONAL INC, $73.72, up 3.1 pct (0934 ET)

The diversified U.S. manufacturer reported a first-quarter profit above analysts’ expectations and raised the lower end of its full-year earnings forecast as margins improved. The company, which makes cockpit electronics and systems to manage the security of large buildings, now expects to earn at least $4.80 per share in 2013, above its prior forecast of at least $4.75. It maintained the top end of its forecast at $4.95.

** KANSAS CITY SOUTHERN, $101.31, up 1.9 pct (0935 ET)

The No. 4 U.S. railroad reported a 39 percent rise in quarterly profit, helped by strong automotive and intermodal shipments. First-quarter net income available to stockholders rose to $103.7 million, or 94 cents per share, from $74.9 million, or 68 cents a share, a year earlier.

** ISIS PHARMACEUTICALS INC, $19.89, up 2.5 pct (0935 ET)

BMO Capital Markets analyst Jim Birchenough raised his price target on the drugmaker to $31 from $22, saying the company’s drug platform was under-estimated and greater value should be attached to Isis’s late stage opportunities.

** DELL INC, $13.42, down 3.8 pct (0936 ET)

Blackstone Group LP has ended its pursuit of Dell, easing the way for founder Michael Dell and his private equity partner Silver Lake to go ahead with a $24.4 billion deal to acquire the world’s No. 3 PC maker. New York-based Blackstone pulled out just a month after it launched a challenge to the billionaire’s attempt to take Dell private.

** SCHLUMBERGER LTD, $72.25, up 1.8 pct (0936 ET)

The world’s largest oilfield services company reported a profit that topped analysts’ estimates for the sixth straight quarter, helped by robust drilling activity outside North America. The company, which reported a 7.6 percent rise in first-quarter revenue on Friday, said it continued to see strong and consistent growth in regions such as Saudi Arabia, Iraq, China and Australia but the outlook for North America was uncertain.

** BAKER HUGHES INC, $45.26, up 1.5 pct (0936 ET)

The world’s third-largest oilfield services provider reported a higher-than-expected profit and forecast a modest increase in U.S. rig counts for 2013. The company said higher drilling activity in Canada and a strong pumping business boosted first-quarter margins.

** STATE STREET CORP, $55.76, up 1.3 pct (0937 ET)

The No. 2 global custody bank reported an 8 percent increase in first-quarter profit as it made more money from servicing fees due to stronger global equity markets and higher volumes in forex trading.

** MICROSOFT CORP, $30.03, up 4.3 pct (0937 ET)

The world’s biggest software company reported an 18 percent climb in revenue and earnings well ahead of Wall Street expectations - a seemingly strong performance for a quarter with the worst decline in PC sales on record.

** GOOGLE INC, $771.00, up 0.7 pct (0938 ET)

The world’s No.1 Internet search engine’s core Internet business grew net revenue 23 percent in the first quarter, softening the effect of a sharp decline in its Motorola mobile phone division. Consolidated revenue in the quarter was $13.97 billion, versus $10.65 billion a year earlier.

** KIMBERLY-CLARK CORP, $105.14, up 3.7 pct (0938 ET)

The maker of Kleenex tissues and Huggies diapers reported a higher quarterly profit and raised its earnings forecast for the year on Friday as it saw strong growth in its international markets and cut costs.


** ANGLOGOLD ASHANTI LTD, $18.50, up 3 pct (0938 ET)

** BARRICK GOLD CORP , $18.53, up 3.1 pct (0939 ET)

** FIRST MAJESTIC SILVER INC, $11.55, up 1 pct (0939 ET)

** KINROSS GOLD CORP, $5.45, up 3.2 pct (0939 ET)

** RANDGOLD RESOURCES LTD, $71.79, up 2.2 pct (0940 ET)

** NEWMONT MINING CORP, $33.25, up 1.5 pct (0940 ET)

Gold rebounded above $1,400 an ounce on Friday as strong buying of coins and bars continued, primarily in Asia, but prices were still on course for a fourth week of losses after a brutal sell-off. Gold rose 1.5 percent to $1,412.56 by 1032 GMT. The metal hit a two-year low of $1,321.35 on Tuesday and was still set for a weekly loss of 4.5 percent.

** AIR METHODS CORP, $39.43, down 14 pct (0941 ET)

The air medical transportation company said it expects to record a first quarter loss between 14 and 16 cents per share, citing a decrease in privately insured patients who sought air ambulance services. Air Methods said an increase in cancellations due to adverse weather conditions also hurt its quarterly results.

** ALIGN TECHNOLOGY INC, $30.83, down 2 pct (0941 ET)

The dental products maker reported a better-than-expected quarterly profit, but forecast second-quarter results below analysts’ estimates.

** CAPITAL ONE FINANCIAL CORP, $55.25, up 4.7 pct (0941 ET)

Capital One, one of the large U.S. credit card issuers, reported first-quarter profit which beat analysts’ expectations as net interest income jumped 34 percent, and the company said it would buy back shares after closing the sale of its credit card accounts linked to electronics retailer Best Buy Co Inc .

** PRGX GLOBAL INC, $5.06, down 19 pct (0942 ET)

The business analytics and information services provider estimated a first-quarter loss against analysts’ expectations of a profit on Thursday, as clients delayed large claims due to changes in Medicare processing systems.

** B&G FOODS INC, $29.83, up 6.1 pct (0942 ET)

The food and household goods manufacturer reported stronger-than-expected quarterly sales, helped by its New York Style and Old London acquisition in October last year. B&G reported first-quarter sales of $171.2 million, beating the average analyst estimate of $170.3 million, according to Thomson Reuters I/B/E/S.

** CHIPOTLE MEXICAN GRILL INC, $346.40, up 5.5 pct (0942 ET)

The popular burrito chain reported a big jump in quarterly profit on Thursday and said federal investigators have expanded their probe into the company’s compliance with U.S. immigration laws.

** RENTECH NITROGEN PARTNERS LP, $33.40, up 6.2 pct (0943 ET)

The nitrogen fertilizer producer said it completed offering of shares worth $320 million and would use the proceeds to raise cash for distribution to shareholders in 2014. The company would also use the proceeds to fund its expansion and maintenance projects.

** COBALT INTERNATIONAL ENERGY INC, $27.00, down 1.6 pct (0943 ET)

The oil explorer said its drill stem test of a well in Block 21, offshore Angola, did not produce measurable hydrocarbons. Drill stem test determines the pressure and productive capacity of a well.

** INTUITIVE SURGICAL INC, $479.56, down 2.8 pct (0943 ET)

The maker of surgical robots on Thursday narrowed its 2013 forecasts for growth of revenue and procedures using its da Vinci surgical robots rather than raising them as it often does when reporting quarterly results. (Compiled by Pallavi Ail in Bangalore,; Editing by Joyjeet Das)

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