January 27, 2017 / 5:46 PM / 9 months ago

BUZZ-U.S. STOCKS ON THE MOVE-Chevron, General Dynamics, American Airlines

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Wall Street was slightly lower on Friday, weighed down by underwhelming corporate earnings and gross domestic product data.

The Dow Jones Industrial Average was down 0.05 percent at 20,091.7, the S&P 500 was down 0.11 percent at 2,294.17 and the Nasdaq Composite was down 0.01 percent at 5,654.404.

** CHEVRON CORP, $113.77, -2.39 pct

The oil and natural gas producer said it swung to a fourth-quarter profit due to rising commodity prices and cost cuts, though results fell short of analysts’ expectations .

** MICROSOFT CORP, $65.70, +2.22 pct

The software maker reported a 3.6 percent rise in fiscal second-quarter profit on Thursday, helped by growth in its fast-growing cloud computing business, but it saw a slight decline in margins in the unit that includes its flagship cloud platform Azure.

** GENERAL DYNAMICS CORP, $186.43, +5.15 pct

The U.S. defense contractors reported a better-than-expected quarterly profit on higher sales across all its business units, particularly in combat systems, sending shares up more than 3 percent.

** COLGATE-PALMOLIVE CO, $64.26, -5.83 pct

The personal products and pet nutrition maker reported lower-than-expected quarterly sales, hurt by a strong dollar and weak demand for its products in Europe.

** STARBUCKS CORP, $56.35, -3.61 pct

The world’s biggest coffee seller trimmed its full-year revenue forecast and reported a smaller-than-expected rise in quarterly sales at established restaurants in the Americas, sending its shares down 3.8 percent in after-hours trade.

** INTEL CORP, $38.08, +1.37 pct

The company reported better-than-expected quarterly revenue and profit driven by a stabilizing PC market and growth in its data center business, which offers cloud-based software services.

** ALPHABET INC, $849.71, -0.85 pct

Google’s parent posted fourth-quarter profit below analysts’ estimates on Thursday, hurt by a higher tax rate, but analysts cheered the company’s progress in diversifying its business beyond advertising.

** PAYPAL HOLDINGS INC, $40.20, -3.13 pct

The payments processor offered a subdued outlook as it faced unpredictable currency fluctuations and an increasingly competitive digital payments market.

** FORD MOTOR CO, $12.50, +1.01 pct

The carmaker expects the embattled Russian car market to return to growth this year as improved stability in exchange rates and prices brings customers back into showrooms.

** AMERICAN AIRLINES GROUP INC, $47.05, -5.12 pct

The No. 1 U.S. airline by passenger traffic reported a fall in profit from a year earlier, when it recorded a $3 billion tax benefit.

** ATHERSYS INC, $1.08, -29.28 pct

The stem cell developer announced proposed public offering after the bell on Thursday but did not disclose the size.

** WYNN RESORTS LTD, $103.82, +8.71 pct

The casino operator’s revenue jumped 37.3 percent to $1.30 billion, beating analysts’ estimate, mainly driven by sales at Wynn Palace resort.

** MIDCOAST ENERGY PARTNERS LP, $8.28, -5.43 pct

** ENBRIDGE ENERGY PARTNERS LP, $21.72, -16.14 pct

Enbridge Inc said it would pay about $170 million to take private Midcoast Energy Partners, which also has a stake in natural gas pipelines owned by Enbridge Energy Partners.

** KEYW HOLDING, $10.23, -15.43 pct

The cyber-security software and hardware maker offered 8.5 million shares at $10.50, a 13.2 percent discount to stock’s $12.09 last sale.

** WORKHORSE GROUP INC, $3.02, -13.11 pct

The company offered 6.5 million shares at $3.00, a 13.5 percent discount to stock’s last sale on Thursday.

** NOVAN INC, $4.32, -76.90 pct

The drug developer said its topical acne drug failed to meet all the goals in one of two late-stage studies.

** JUNIPER NETWORKS INC, $26.78, -3.39 pct

The network gear maker’s price target was cut by four brokerages, saying revenue from company’s cloud business and U.S. market was strong, but international market “looked pretty sloppy”.

** K12 INC, $19.34, +14.91 pct

The educational software company reported second-quarter results that beat estimates and also unveiled plans to cut capital expenditure.

** JAGGED PEAK ENERGY LLC, $14.27, -4.87 pct

The U.S. shale oil producer’s shares debut at $14.10, 6 percent below IPO price.

** APOLLO GLOBAL MANAGEMENT LLC, $21.26, -1.94 pct

The Abu Dhabi Investment Authority slices its stake in the PE firm for the second time in a week.

** SANDRIDGE PERMIAN TRUST, $3.35, -15.19 pct

The royalty trust of SandRidge Energy announced a distribution of 12 cents per unit for the three months ended Dec. 31 primarily related to production attributable to the trust’s interests from September to November.

** JOUNCE THERAPEUTICS INC, $17.27, +7.94 pct

The cancer drug developer priced an upsized deal of 6.4 million shares at $16, above the filed range of $13 to $15, to raise about $101.8 million. (Compiled by Diptendu Lahiri in Bengaluru)

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