(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) The Nasdaq pushed further into record territory on Friday on strong results from Google, while the Dow and the S&P 500 fell, dragged down by Boeing and energy stocks.
The Dow Jones industrial average was down 0.37 percent at 18,052.71, the S&P 500 was down 0.11 percent at 2,121.98 and the Nasdaq Composite was up 0.55 percent at 5,191.475.
** GOOGLE INC, $696.3, +15.71 pct
** GOOGLE INC, $665.235, +14.73 pct
** FACEBOOK INC, $94.65, +4.18 pct
Google shares surged above $700 to a record high after its profit beat forecasts for the first time in six quarters, boosted by strong ad revenue and its new CFO said spending would be disciplined.
The strong report rubbed off on Facebook, which hit a record high on expectations it would mirror Google’s ad growth.
BREAKINGVIEWS-Google’s new CFO recalibrates investment algorithm
** ETSY INC, $20.88, +24.06 pct
Shares of the e-commerce website soared after Google said, “Developers like Etsy are already seeing a boost in traffic as a result of deep linking.” Short covering also leading to the spike, a Wedbush analyst said.
** TESLA MOTORS INC, $273.95, +2.73 pct
The electric car maker is holding a conference call starting at 2 p.m. ET. CEO Elon Musk tweeted that the call would be about a Model S product.
** BOEING CO, $146.74, -1.18 pct
The U.S. aircraft maker said it will take a $536 million after-tax charge in its second-quarter results to deal with deficiencies in the fuel system on the KC-46 aerial refueling tanker it is developing for the U.S. Air Force.
** EXXON MOBIL CORP, $82.47, -0.53 pct
** CHEVRON CORP, $93.12, -1.44 pct
** CONOCOPHILLIPS, $57.11, -1.45 pct
** APACHE CORP, $51.16, -2.87 pct
** ENSCO, $19.05, -6.25 pct
** SCHLUMBERGER LTD, $83.85, -0.05 pct
Fears of growing oversupply led to a sharp drop in crude prices, which pushed the S&P 500 energy index to its lowest since January 2013. Exxon and Chevron were the biggest drag on the sector and also weighed on the broader market.
Schlumberger’s stock was insulated partly as the world’s No.1 oilfield services provider reported a bigger-than-expected quarterly profit.
ConocoPhillips said it would reduce spending on deepwater drilling due to low crude prices and terminated a three-year contract for an Ensco drill ship. Ensco said ConocoPhillips is obligated to pay it termination fees monthly for two years.
** COMERICA INC, $47.14, -6.60 pct
The regional lender reported lower-than-expected second-quarter profit as it kept aside more money to cover bad loans. Provision for credit losses rose to $47 million from $11 million a year earlier.
** GENERAL ELECTRIC CO, $27.265, +0.83 pct
The U.S. conglomerate raised its 2015 outlook for its industrial manufacturing businesses on Friday as it reported a 5 percent increase in its quarterly industrial profits, helped by stronger performance in its power division offsetting weak oil segment results.
** HONEYWELL INTERNATIONAL INC, $105.43, +1.80 pct
The U.S. manufacturer of aerospace parts and climate control systems reported a better-than-expected increase in quarterly profit as the maker of aircraft parts and climate control systems reined in costs amid declining sales.
** OOMA INC, $11.06, -14.92 pct
Shares of the internet-based telecom service provider fell as much as 15 percent to $11.03 in their debut. The stock opened at $12.10, below its IPO price of $13, well below $16-$18 filed range.
** RAPID7 INC, $24.68, +54.25 pct
The company’s shares soared as much as 72 percent to $27.45 in their market debut, valuing the cyber security company at $1.05 billion. The company raised about $104 million selling all 6.5 million shares on offer at $16, above the projected price range of $13-$15.
** MCBC HOLDINGS INC, $15.73, +4.87 pct
Shares of the maker of MasterCraft sport boats rose more than 6 percent in their market debut on Friday. The company sold all the 6.1 million shares in its IPO at $15 each.
** MATTEL INC, $24.16, -3.94 pct
The toy maker’s surprise adjusted profit for the quarter was overshadowed by sales falling more than expected for the sixth time in seven quarters. “We saw little in Q2 ... that we think would change the mind of a bull or a bear,” BMO’s Gerrick Johnson says.
** CF INDUSTRIES HOLDINGS INC, $67.13, +7.00 pct
The fertilizer producer’s stock hit a record high in mid-day trade after CNBC reported that the company is in merger talks with Dutch fertilizer maker OCI AS.
** SOLARWINDS INC, $37.01, -21.34 pct
The network management software maker forecast current-quarter and full-year revenue below analysts’ average estimates.
** HERTZ GLOBAL HOLDINGS INC, $19.07, +12.24 pct
The car rental company said it filed restated financials for 2011, 2012 and 2013. It also boost its 2015 cost savings target by $300 million and reaffirmed a $1 billion share buyback plan. It expects the spin-off of Hertz Equipment Rental Corp to be completed in the second quarter.
** INTERCLOUD SYSTEMS INC, $2.42, +17.48 pct
The telecom network service provider said it has received contracts valued at $2.3 million from existing and new clients and that the work on is expected to be completed between the third and fourth quarters.
** TROVAGENE INC, $9.06, -10.56 pct
The cancer monitoring device maker said an offering of 4 million shares was priced at $8.75 per share, a 13.6 percent discount to its last close.
** ALLSCRIPTS HEALTHCARE SOLUTIONS INC, $14.85, +9.03 pct
The healthcare information technology provider said on Thursday it expects to report bigger-than-expected adjusted profit and revenue, helped by strong growth in bookings.
** BEST BUY CO INC, $32.69, -6.33 pct
BofA Merrill cut its rating on the consumer electronics retailer’s stock to “underperform” from “buy” as it expects the retailer to post negative comparable store sales in the second half of the year and that continued reinvestment was offsetting strong cost cutting efforts.
** NEPHROGENEX INC, $4.71, -17.37 pct
The drugmaker raised $7.5 million through an offering of 1.5 million shares and warrants to purchase up to 1.5 million shares at a combined price of $5 per share and accompanying warrant. The warrants are exercisable immediately at $6.25 per share and will expire five years from the date of issuance.
** STAR BULK CARRIERS CORP, $3.38, +13.42 pct
** DRYSHIPS INC, $0.6797, +9.98 pct
** NAVIOS MARITIME HOLDINGS INC, $4.3, +6.70 pct
The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, touched a new high for this year as stronger demand for bigger shipping vessels continued to lend support.
** KANSAS CITY SOUTHERN, $98.69, +6.63 pct
The railroad company said its Canadian oil shipments to the U.S. Gulf Coast are increasing as the price difference between Mexican and Canadian heavy crude has widened.
** REDHILL BIOPHARMA LTD, $16.26, -10.61 pct
The Israeli biopharmaceutical company said its offering 2.5 million American Depository Shares, each representing ten of its ordinary shares, was priced at $16.25 per ADS.
** CLOUD PEAK ENERGY INC, $3.65, -8.06 pct
The coal miner hit a record low after reporting that its shipments fell in the second quarter and lowering its full-year shipment forecast.
** NATIONAL-OILWELL VARCO INC, $42.9, -1.36 pct
UBS downgraded the oilfield equipment maker’s stock to “sell”, according to theflyonothewall.com.
** EZCORP INC, $6.5, -3.56 pct
The pawn and payday lender said it will restate financial statements for 2014 and first quarter 2015.
** BARRICK GOLD CORP, $8.75, -5.30 pct
** GOLDCORP INC, $14.83, -5.36 pct
** IAMGOLD CORP, $1.57, -7.65 pct
** PRIMERO MINING CORP, $3.07, -7.53 pct
Gold languished near its lowest level in eight months and is set to extend its losing run to a fourth week, pressured by a firmer dollar as expectations grow that the Federal Reserve will raise interest rates this year. (Compiled by Anannya Pramanick in Bengaluru; Editing by Savio D’Souza)