April 23, 2014 / 12:38 PM / 4 years ago

MARKET PULSE-ARM, Boeing, Delta, Dow, Elizabeth Arden, EMC

(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s)

April 23 (Reuters) -

U.S. stock index futures were flat on Wednesday as investors found few reasons to keep buying following six straight days of gains on both the S&P 500 and Nasdaq. Dow Jones industrial average futures were down 0.04 percent at 16,452, S&P 500 futures were down 0.14 percent at 1,871.3 and Nasdaq 100 futures were down 0.21 percent at 3,577.5.

** BIOGEN IDEC INC, Tuesday close $306.2, +1.24 pct premarket

The U.S. biotechnology company on Wednesday reported a higher first-quarter profit as sales of its new Tecfidera multiple sclerosis drug extended a run of eclipsing Wall Street sales expectations, and the U.S. biotechnology company raised its full-year forecasts.

** NORFOLK SOUTHERN CORP, Tuesday close $96.92, +1.63 pct premarket

The U.S. railroad company reported an 18 percent fall in quarterly profit as coal shipments dropped.

** GENERAL DYNAMICS CORP, Tuesday close $108.04

The maker of Gulfstream jets, tanks and U.S. Navy ships reported higher-than-expected quarterly earnings and revenue and said its backlog rose 22 percent from the end of 2013.

** PLUG POWER INC, Tuesday close $6.7, -7.01 pct premarket

The fuel cell systems maker on Wednesday said it expected to lose $5-$6 million before interest, taxes, depreciation, amortization and stock-based compensations in the first quarter ended March, wider than a loss of $4.8 million a year earlier.

The company on Tuesday raised the number of shares issuable in a public offering to 17 million shares from 6.5 million.

** BOEING CO, Tuesday close $127.55, +2.57 pct premarket

The aeroplane maker reported an eight percent increase in quarterly revenue, helped by a rise in commercial aircraft deliveries.

** DOW CHEMICAL CO, Tuesday close $48.94, +2.47 pct premarket

The No. 1 U.S. chemical maker by sales reported a better-than-expected rise in quarterly profit as cost controls helped to boost margins in businesses that make coatings, plastics and crop-protection products.

** DELTA AIR LINES, Tuesday close $34.95, +5.15 pct premarket

The aviation company on Wednesday reported a higher first quarter profit as revenue rose and it benefited from lower fuel and maintenance costs. Net income was $213 million, or 25 cents a share, up from $7 million, or one cent a share, for the year-earlier first quarter.

** MANPOWERGROUP INC, Tuesday close $77.88, +7.82 pct premarket

The world’s third-largest staffing company’s quarterly profit almost tripled, helped by a recovery in hiring in Europe and lower costs, and it forecast accelerating growth in the current quarter.

** EMC CORP, Tuesday close $26.76, -3.21 pct premarket

The technology company posted a better-than-expected 2 percent rise in quarterly revenue due to higher sales of its storage products as customers expand their data centers.

** CREE INC, Tuesday close $58.05, -7.49 pct premarket

The LED maker reported third-quarter revenue below analysts’ estimates on Tuesday and said costs of revenue jumped 18 percent.

At least two brokerages cut their price targets on the stock.

** FMC TECHNOLOGIES INC, Tuesday close $55.42, +1.4 pct after market

The drilling equipment manufacturer reported a higher first-quarter profit, helped by a higher backlog for its subsea technologies business due to strong orders.

** ARM HOLDINGS, Tuesday close $50.11, -4.07 pct premarket

The UK-based company, whose chip technology powers Apple Inc’s iPhone, said demand for smartphones would pick up in the second half after a disappointing end to 2013 resulted in first-quarter profit rising less than in previous years.

** JAKKS PACIFIC INC, Tuesday close $9.17, +0.55 pct premarket

The toymaker reported a smaller-than-expected quarterly loss, helped by higher demand for its dolls and preschool toys such as the Disney Pirate Fairies dolls and foot-to-floor ride-ons and wagons. The company’s first-quarter sales beat the average analyst estimate.

** ELIZABETH ARDEN INC, Tuesday close $28.44, +8.12 pct premarket

South Korea’s LG Household & Healthcare Ltd said it is considering a bid for the U.S. cosmetics firm, an acquisition that would give it globally recognized luxury brands and would be its most ambitious to date.

** SAREPTA THERAPEUTICS INC, Tuesday close $38.79, -2.29 pct premarket

The biotechnology company on Tuesday said it would offer up to $100 million of its common stock to fund the clinical development of its pipeline, including its experimental muscular dystrophy treatment, eteplirsen.

** ALEXION PHARMACEUTICALS INC, Tuesday close $156.1, -0.70 pct premarket

The drugmaker said the European Commission granted its drug Soliris the orphan drug status for use in the prevention of graft rejection following solid organ transplantation.

The designation will provide Alexion with some benefits and incentives, including a period of marketing exclusivity if Soliris is approved for the condition in the EU.

The drug is approved in the United States and the European union for paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome, two debilitating, rare, life-threatening disorders.

** ENDO INTERNATIONAL PLC, Tuesday close $61.53

Taiwan-based TWi Pharmaceuticals Inc entered into a settlement agreement with the company, and Japan-based Teikoku Seiyaku related to TWi’s lidocaine topical product, a proposed generic version of Endo’s Lidoderm.

The pain patch, marketed by Endo uses Teikoku’s transdermal drug delivery technology. The agreement allows TWi to launch its copycat product on or after March 1, 2015, if granted approval by the health regulator.

** ONCOGENEX PHARMACEUTICALS INC, Tuesday close $10.37, +7.04 pct premarket

The drugmaker said the U.S. Food and Drug Administration has granted fast-track status for the late-stage trial of its experimental prostate cancer drug custirsen. The drug is being studied in combination with chemotherapy cabazitaxel and prednisone.

Fast-track is a process designed to facilitate the development and expedite the review of drugs to treat serious conditions and fill an unmet medical need.

** XOOM CORP, Tuesday close $19.7, +12.18 pct premarket

The money transfer provider reported an adjusted earnings of 6 cents per share for the quarter ended March 31, beating analysts’ average estimate of 4 cents, according to Thomson Reuters I/B/E/S. The company’s revenue rose 48 percent to $35.9 million, topping analysts’ view of $34.4 million.

Brokerage Suntrust Robinson Humphrey raised the company’s price target to $40 from $33, citing better-than-expected first quarter results and strong profitability.

** SANMINA-SCI CORP, Tuesday close $18.26, +9.53 pct premarket

The electronic components manufacturer reported second-quarter results above analysts’ estimates, helped by higher demand.

** CELESTICA INC, Tuesday close $10.93

The Canadian contract electronics manufacturer’s quarterly profit more than tripled, helped by higher operating margins.

** INGERSOLL-RAND PLC, Tuesday close $57.99

The maker of Trane airconditioners reported a 10 percent decline in quarterly profit as its tax bill jumped. The company’s net profit fell to $79 million, or 28 cents per share, in the first quarter ended March 31 from $88 million, or 29 cents per share, a year earlier.

** JOHNSON CONTROLS INC, Tuesday close $48.25

The company, one of the biggest suppliers of auto parts, reported a 59 percent jump in quarterly profit, helped by higher sales in its automotive unit.

** PROCTER & GAMBLE CO, Tuesday close $81.25, -1.19 pct premarket

The world’s largest household products maker reported a higher quarterly profit on Wednesday, helped by an increase in sales of its home care products.

** NORTHROP GRUMMAN CORP, Tuesday close $119.79

The maker of unmanned planes on Wednesday reported a higher-than-expected quarterly profit despite a drop in sales, and the U.S. weapons maker raised its earnings forecast.

** SPECTRUM PHARMACEUTICALS, Tuesday close $6.9, +6.52 pct premarket

The company said its experimental blood cancer drug was shown to be safe and effective in a mid-stage trial.

** POLARIS INDUSTRIES INC, Tuesday close $140.31, +0.49 pct premarket

The maker of off-road vehicles raised its full-year profit forecast after reporting a 7 percent rise in quarterly earnings, helped by strong sales of its motorcycles and off-road vehicles.

** SKECHERS USA INC, Tuesday close $36.87, +12.23 pct premarket

The company on Tuesday posted a near-fivefold jump in quarterly profit after its new footwear designs sold well in the United States and abroad.

** SKYWORKS SOLUTIONS INC, Tuesday close $37.96, +8.67 pct premarket

The chipmaker’s second-quarter results and current-quarter forecast beat Wall Street estimates, helped by strong sales of chips used to connect machines to the Internet.

** VMWARE INC, Tuesday close $105.15, -6.23 pct premarket

The virtualization software maker reported better-than-expected first-quarter revenue and forecast current-quarter revenue largely above analysts’ average estimate as more customers opt for its cloud infrastructure services. However, the company on Tuesday acknowledged a delay in closing some of its enterprise license agreements in the first quarter as customers looked to sign expanded deals.

** GOOGLE INC, Tuesday close $545.5, -0.46 pct premarket

The Internert search giant will allow marketers to run online ads that send consumers to a page directly inside a mobile app, furthering the company’s effort to extend its multibillion-dollar advertising business to smartphones.

** COMCAST CORP, Tuesday close $50.83, +0.04 pct premarket

** TIME WARNER CABLE INC, Tuesday close $138.43

** CHARTER COMMUNICATIONS INC, Tuesday close $126.96

Comcast may divest about 4 million subscribers after its merger with Time Warner Cable and is working to reach an accord to sell a portion of those customers to Charter Communications, a source familiar with the matter said Tuesday.

** AMGEN INC, Tuesday close $119.3, -2.76 pct premarket

The drugmaker on Tuesday reported lower-than-expected first quarter profit as sales of several key products fell short of Wall Street estimates, with its big-selling rheumatoid arthritis drug Enbrel particularly hard hit by inventory stocking by wholesalers late last year.

** WAL-MART STORES INC, Tuesday close $77.56

The retail chain is set to report as soon as Wednesday on how its executives performed on their goals to overhaul compliance operations and how that affected their pay, the Wall Street Journal reported.

** DISH NETWORK CORP, Tuesday close $59.42

The No. 2 U.S. satellite TV provider is looking to debut internet TV service this summer, Bloomberg News reported on Tuesday citing people familiar with the matter.

** JETBLUE AIRWAYS CORP, Tuesday close $8.59, +1.86 pct premarket

The airline’s pilots voted by a wide margin on Tuesday to join the Air Line Pilots Association union, sending the budget carrier’s stock price down on concerns the move would raise the airline’s costs.

** DARDEN RESTAURANT INC, Tuesday close $49.87

Darden will have to call a shareholder meeting to vote on Starboard Value LP’s proposal to delay the company’s plan to spin off its struggling Red Lobster chain, after the activist investor secured the support of a majority of the company’s shareholders.

** AT&T INC, Tuesday close $36.29, -2.18 pct premarket

Some analysts were disappointed with the No. 2 wireless service provider though it raised its 2014 revenue growth forecast.

AT&T raised its full-year revenue growth forecast to at least 4 percent from 3 percent on Tuesday and said it expects adjusted earnings per share to grow at a mid-single digit rate.

The “disappointing” increase in revenue and EPS were mostly because of the larger number of customers shifting to the cheaper Mobile Share Value plan, which will eat into service revenue going forward, JP Morgan analysts wrote in a note and cut their price target on the stock to $34 from $35.

** INTUITIVE SURGICAL INC, Tuesday close $422.33, -9.19 pct premarket

Several analysts cut their price targets on the medical device maker’s stock after it lowered its forecast on Tuesday for procedure growth for its da Vinci surgical robots, citing a slowdown in U.S. gynecology procedures.

** GILEAD SCIENCES INC, Tuesday close $72.86, +3.55 pct premarket

Gilead, which has ignited a fierce debate over prescription drug prices, said its new $1,000 hepatitis C pill generated record-breaking sales of $2.27 billion, helping the company’s quarterly net profit nearly triple.

At least two brokerages raised their target prices on the drugmaker’s stock after it said its new $1,000 hepatitis C pill generated record-breaking sales of $2.27 billion, helping the company’s quarterly net profit nearly triple and soundly beat analysts’ estimates.

** YUM BRANDS INC Tuesday close $77.48, +2.83 pct premarket

KFC parent Yum Brands on Tuesday said first-quarter sales at established restaurants in China, its top market, rose 9 percent as it recovers from an avian flu outbreak and a food safety scare that pummeled demand for chicken last year. $56.67$29.45 (Compiled by Rohit T.K. in Bangalore; Editing by)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below