November 6, 2015 / 6:24 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Alibaba, Transcanada, Iconix, KaloBios, LSB, Avid

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter,; for the Morning News Call newsletter, U.S. stocks were slightly lower in afternoon trading on Friday after a stronger-than-anticipated jobs report hardened the chance that the Federal Reserve would finally raise interest rates in December.

The Dow Jones industrial average was down 0.14 percent at 17,839.28, the S&P 500 was down 0.39 percent at 2,091.8 and the Nasdaq Composite was up 0.09 percent at 5,132.235.

** JPMorgan Chase & Co, $68.165, +2.60 pct

** Goldman Sachs Group Inc, $197.56, +2.89 pct

** Regions Financial Corp, $10.1, +3.80 pct

** SunTrust Banks Inc, $44.2, +1.87 pct

** Bank of America Corp, $17.905, +3.44 pct

** Morgan Stanley, $35.45, +4.63 pct

Financial stocks rose after a stronger-than-expected nonfarm payrolls report for October boost prospects that the Federal reserve would raise rates in December.

** WALT DISNEY CO, $115.65, +2.35 pct

Disney reported higher quarterly profit that beat Wall Street forecasts as cable networks including ESPN brought in higher advertising revenue and collected more fees from pay TV distributors.

Graphic-Disney's earnings:

** EXXON MOBIL CORP, $83.62, -1.40 pct

The New York attorney general has launched an investigation into whether Exxon misled the public and shareholders about the risks of climate change. Attorney General Eric Schneiderman subpoenaed the company on Wednesday evening, demanding extensive financial records, emails and other documents, a source familiar with the investigation said on Thursday.


Billionaire investor Bill Ackman expressed confidence in Valeant’s CEO Michael Pearson on Thursday as shares in the drugmaker fell as much as 20 percent to their lowest level since 2013. The stock plunged from $263.70 on Aug. 5 to below $80 on Thursday on scrutiny over high price markups for its drugs and accusations it used a specialty pharmacy, Philidor, to inflate revenue.

Graphic-Valeant intraday share price performance:

Breakingviews-Bill Ackman pushes limits of activism at Valeant

** TRANSCANADA CORP, $32.45, -5.56 pct

The Obama administration will reject the Canadian company’s Keystone XL pipeline project, a source familiar with the matter told Reuters. Canada’s new Liberal government said on Thursday it supports the pipeline but does not want the project, which is opposed by environmentalists, to spoil relations with the United States.

** YOUKU TUDOU INC, $26.35, +8.12 pct

** ALIBABA GROUP HOLDING LTD, $81.7, -4.31 pct

Alibaba agreed to buy Youku Tudou, known as China’s YouTube, for about $3.7 billion, slightly more than it had offered in October. Alibaba’s new offer of $27.60 per ADS is $1 higher than its previous offer.

Alibaba’s shares fall sharply in afternoon trading after CNBC reported that short-selling specialist Jim Chanos pitched company as “short”.

** ICONIX BRAND GROUP INC, $6.699, -58.49 pct

The consumer brands owner and licensor cuts its full-year revenue forecast and said it would restate some financial results. Iconix also estimated a Q3 loss due to accounting adjustment and other charges.

** ZS PHARMA INC, $89.225, +40.93 pct

** ASTRAZENECA PLC, $32.01, -1.57 pct

Britain’s AstraZeneca said it had agreed to buy U.S biotech company ZS Pharma for $2.7 billion, pipping Swiss firm Actelion to the prize in the latest bout of deal-making for the hyperactive healthcare sector. AstraZeneca said it would pay $90 per ZS Pharma share.

** KALOBIOS PHARMACEUTICALS INC, $0.9523, -50.66 pct

The drug developer said it would cut its workforce by 61 percent and explore strategic alternatives, including a sale. The company also said it would pause patient enrollment for a mid-stage study of its experimental drug, KB004, in treating certain types of cancer.

** LSB INDUSTRIES INC, $8.06, -50.31 pct

The chemical and climate control products maker reported a bigger-than-expected quarterly loss and an 8 percent drop in net sales, hurt by an unplanned outage at a chemical plant, higher costs and other charges. The company also raised its budget for expansion of its El Dorado chemical facility in Arkansas.

** AVID TECHNOLOGY INC, $6.0101, -33.07 pct

The video editing software maker reported a 4 percent fall in Q3 revenue and cut its full-year adjusted EBITDA forecast.

** PIXELWORKS INC, $2.499, -28.40 pct

The projector maker forecast current-quarter revenue below analysts’ average estimate, blaming weaker macroeconomic conditions internationally, specifically in China. At least two brokerages cut their price targets on the stock.


** SANOFI SA, $46.48, -7.81 pct

French drugmaker Sanofi said it has agreed to collaborate with Lexicon Pharma on Sotagliflozin, a potential oral treatment for people with diabetes.

Sanofi also said it would not have any meaningful profit growth in the next two years due to investment in products to compensate for declining diabetes sales and cost cuts.

** TANGOE INC, $7.01, -18.30 pct

The communication systems provider reported lower-than-expected Q3 revenue and profit and estimated full-year and Q4 revenue below analysts’ expectations. At least two brokerages cut their price targets on the stock.


The implantable visual prosthetics developer warned of a potential material impact on its short and medium-term cash flow unless Centers for Medicare and Medicaid Services revises payment policy decision.

** GLU MOBILE INC, $3.27, -10.66 pct

The mobile game developer forecasts a Q4 loss, while analysts were expecting a profit. “The super majority of titles launched in 2015 have underperformed as solid monetization rates were offset by significantly lower-than-expected install volumes,” CEO Niccolo de Masi said.

** TRIPADVISOR INC, $76.865, -7.51 pct

The travel review website operator reported lower-than-expected Q3 revenue and profit, hurt by a stronger dollar. The company also lowered its 2015 revenue growth forecast and said it expects slightly negative EBITDA growth. At least seven brokerages cut their price targets on the stock.

** MEN’S WEARHOUSE INC, $22.97, -42.72 pct

The men’s apparel retailer estimated Q3 profit below average analysts estimates, hurt by weakness at Jos. A. Bank, where comparable sales fell 14.6 percent.

** CANCER GENETICS INC, $3.91, -15.18 pct

The cancer diagnostics company’s offering of 3 million shares was priced at $4 apiece, a 13 percent discount to the stock’s close on Thursday.

** SIERRA WIRELESS INC, $19.035, -24.10 pct

The Canadian wireless equipment maker reported lower-than-expected quarterly profit and sales, prompting at least four brokerages to cut their price targets on the stock.

** HORIZON PHARMA PLC, $20.7675, +20.32 pct

** DEPOMED INC, $19.9583, +9.12 pct

Horizon Pharma posted quarterly profit, revenue that beat analysts’ estimate and it also raised its full-year sales forecast. The company said it will hold an investor day on Monday to address “misinformation”. It was named in a New York Times report that said drugmakers were using specialty drug distributors to overcome hurdles to raising drug prices.

Horizon Pharma has launched a hostile bid for Depomed.

** BUILDERS FIRSTSOURCE INC, $15.16, +23.15 pct

The building products supplier reported quarterly revenue and profit above analysts’ estimates, helped by a rise in sales volume and pricing.


The drug developer said its offering of 5 million shares was priced at $6 per share, a 22 percent discount to the stock’s Thursday close.

** REPLIGEN CORP, $26.9, -16.92 pct

The drug developer decided to halt development of its own Protein A media, a critical reagent used to manufacture antibody-based therapies.


InterContinental, one of the world’s largest hoteliers, is exploring strategic options including a potential sale or merger, Bloomberg reported on Friday.

** NVIDIA CORP, $31.71, +14.44 pct

The chipmaker reported better-than-expected Q3 revenue, helped by strong demand for its chips used in gaming and cars. It also forecast Q4 revenue above analysts average estimate.

At least 14 brokerages raised their price targets on the stock, while one upped its rating.


The weight management products maker reported better-than-expected Q3 profit and revenue and raised its 2015 adjusted profit forecast. The response to the partnership with Oprah Winfrey has been “terrific”, CEO Jim Chambers said.

** NU SKIN ENTERPRISES INC, $33.85, -13.65 pct

Investment research firm Hedgeye Risk Management CEO Keith McCullough tweeted that the skin care and nutritional products maker’s stock is a “best sell idea”.

** KRAFT HEINZ CO, $72.2, -4.27 pct

The company missed earnings and revenue estimates and said its quarterly loss widened due partly to the negative impact of the strong dollar on overseas sales.


The video game publisher’s third-quarter adjusted revenue nearly tripled, topping analysts’ estimates, as sales of its “Grand Theft Auto V” and “NBA 2K16” titles surged.

** MONSTER BEVERAGE CORP, $148.82, +12.54 pct

The energy drink maker reported better-than-expected Q3 profit and sales as customers stocked up ahead of the company hiking prices on some of its beverages from Aug. 31.

** STAMPS.COM INC, $101.8, +33.98 pct

The online postage services provider posted Q3 revenue and profit above estimates, helped by demand for PhotoStamps, a product that helps users create personalized stamps. The company also raised its 2015 profit and revenue forecast for the third time.

** QORVO INC, $54.23, +20.30 pct

The radio frequency chip maker posted better-than-expected Q2 results, helped by growth in its mobile products unit and lower operating expenses. It also announced a new $1 billion share repurchase program.

** BLACKBERRY LTD, $8.005, +5.33 pct

The Canadian smartphone maker launched its first Android-based device, Priv, on Friday. Reviewers applaud the phone for its features, including security offerings, long battery life, camera, and dual-keyboard design, but pan its high price tag.

** DREAMWORKS ANIMATION SKG INC, $23.505, +16.30 pct

The Hollywood studio reported an unexpected Q3 profit as it earned more from licensing its content and benefited from the DVD and Blue-ray releases of “Home”, its only movie this year.

** TABLEAU SOFTWARE INC, $104.36, +23.66 pct

The data analytics software maker posted higher-than-expected Q3 profit and revenue, helped by strong licensing revenue and international expansion.

** TRUECAR INC, $8.2, +33.77 pct

The online car-shopping service provider posted a smaller-than-expected loss in the third quarter, helped by a 28 percent jump in revenue to a record high as more people purchased vehicles from TrueCar dealers.

** BHP Billiton Plc, $29.71, -5.80 pct

** VALE SA, $4.145, -5.58 pct

A dam holding back waste water from an iron ore mine in Brazil that is owned by Vale and BHP Billiton burst on Thursday, devastating a nearby town with mudslides and leaving officials in the remote region scrambling to assess casualties.

Breakingviews-Brazil dam disaster tests BHP’s mega-mining model

** MITEK SYSTEMS INC, $3.98, +15.70 pct

The mobile imaging software maker reported better-than-expected Q4 revenue, helped by higher demand for its mobile check deposit product.

** BANKRATE INC, $14.34, +16.02 pct

The personal finance website operator reported a better-than-expected quarterly profit and raised its full-year forecast for revenue and adjusted EBITDA. The company also sold its insurance business for $165 million to Genstar Capital Partners’ unit All Web Leads Inc.

** NEUSTAR INC, $25.48, -14.18 pct

Neustar, which provides routing services for phone calls and text messages, agreed to buy MarketShare Partners LLC, a marketing analytics technology provider, for $450 million.

** HECLA MINING CO, $1.98, -6.16 pct

The silver miner reported a bigger-than-expected quarterly loss, due to higher cash costs. The company also forecast lower silver and gold production for 2015 than a year earlier.

** CAPSTONE TURBINE CORP, $0.1923, -10.60 pct

The microturbine energy systems maker reported Q2 revenue below analysts’ estimates, hurt by delayed shipments and a strong dollar. The company also said its total backlog was down 39 percent on lower orders from oil & gas clients. (Compiled by Ramkumar Iyer in Bengaluru; Editing by Savio D’Souza)

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