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Pin to quick picksGlaxosmithkline Share News (GSK)

Share Price Information for Glaxosmithkline (GSK)

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Share Price: 1,733.50
Bid: 1,732.50
Ask: 1,733.00
Change: 5.00 (0.29%)
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MARKET PULSE- Goldman Sachs, IBM, Peabody, Winnebago, Portola Pharma

Thu, 17th Oct 2013 14:18

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

Wall Street opened lower on Thursday as investors turnedtheir focus to the earnings of heavyweight companies such asIBM, in the wake of agreement by lawmakers in Washington toreopen the federal government and raise the debt ceiling.

The Dow Jones industrial average was down 0.56percent. The Standard & Poor's 500 Index was down 0.22percent, while the Nasdaq Composite Index was down 0.26percent.

** GOLDMAN SACHS GROUP INC, $158.58, down 2 pct (9:58a.m. ET)

The bank's third-quarter profit fell 2 percent as weakbond-trading volumes hit revenue in its biggest business.Revenue from Goldman's fixed income, currency and commoditiesbusiness, which undertakes trading for clients, fell 44 percentto $1.25 billion in the quarter ended Sept. 30.

** IBM, $175.20, down 6 pct (9:58 a.m. ET)

The company reported a 4 percent fall in third-quarterrevenue, worse than expected by Wall Street, amid a decline inhardware and emerging markets even as it beat earningsestimates. [ID: nL1N0I620T]

** VERIZON COMMUNICATIONS INC, $48.41, up 2.5 pct(9:58 a.m. ET)

The company posted higher-than-expected third-quarterearnings and revenue. Verizon reported a profit of $2.2 billion,or 78 cents per share, compared with $1.59 billion, or 56 centsper share, a year earlier.

** WINNEBAGO INDUSTRIES INC, $28.89, up 5 pct (9:43a.m. ET)

The No. 1 U.S. motorhome manufacturer reported ahigher-than-expected profit for the fourth quarter. Winnebagoreported a quarterly profit of $10.6 million, or 38 cents pershare, compared with $40.9 million, or $1.41 per share a yearearlier.

** SELECT COMFORT CORP, $18.45, down 24 pct (9:57a.m. ET)

The specialty mattress maker reported third-quarter resultswell below analysts' estimates due to higher costs and saggingdemand for its mattresses.

** PEABODY ENERGY CORP, $19.42, up 8.5 pct (9:57a.m. ET)

** CLIFFS NATURAL RESOURCES, $23.40, up 4 pct

** ALPHA NATURAL RESOURCES, $6.16, up 3 pct

Coal miner Peabody reported on Wednesday an unexpectedprofit for the third quarter on an adjusted basis as shipmentsfrom its Australian mines rose and the company's efforts tocurtail costs helped blunt the impact of weak prices.

** FAIRCHILD SEMICONDUCTOR INTERNATIONAL INC,$12.22, down 10 pct (9:56 a.m. ET)

The chipmaker forecast current-quarter sales well belowanalysts' estimates, mainly due to weak demand from notebookpersonal computer and mobile device makers. "Demand from thecomputing, TV and some portions of the tier two mobile market inAsia was incrementally weaker which impacted third quarterresults and our guidance for the fourth quarter," Fairchild'sChief Executive Mark Thompson said.

** XILINX INC, $44.33, down 5.5 pct (9:54 a.m. ET)

The chipmaker forecast current-quarter revenue largely belowanalysts' estimates, saying it expects lower revenue at itsindustrial and aerospace businesses.

** SANDISK CORP, $66.22, up 5 pct (9:54 a.m. ET)

The company more than tripled its quarterly profit, beatinganalysts' estimates, after a fire at a rival chip makerincreased prices at a time when Apple Inc and otherusers of its flash memory chips were launching new products.

** M&T BANK CORP, $113.56, down 2 pct (10:06 a.m.ET)

The bank reported third-quarter results that beat analysts'estimates but it set aside more money to cover soured loans thanit did a year earlier.

** PORTOLA PHARMACEUTICALS INC, $24.70, down 3 pct(10:10 a.m. ET)

The biopharmaceutical company said its common stock offeringof 6.4 million shares is priced at $23.75 per share, whichrepresents a discount of 7 percent to the stock's Wednesdayclose. Portola is offering 4.5 million shares in the offering,while certain stockholders are offering 1.9 million shares.

** PACTERA TECHNOLOGY INTERNATIONAL LTD, $7.10, up8.6 pct (9:52 a.m. ET)

** BLACKSTONE GROUP LP, $27.12, up 0.3 pct

Pactera, China's largest technology outsourcing company,agreed to be taken private by a consortium led by BlackstoneGroup for $625 million, after a month of wrangling over the saleprice. Pactera agreed to an offer price of $7.30 per Americandepositary share, an 11.6 percent premium to the stock's $6.54closing price on Wednesday.

** ELDORADO GOLD, $5.95, up 5 pct (9:51 a.m. ET)

** NEWMONT MINING CORP, $26.96, up 4 pct

** BARRICK GOLD CORP, $18.40, up 4 pct

** AURICO GOLD INC, $4.11, up 6 pct

** ROYAL GOLD INC, $49.79, up 6 pct

Gold prices rose to a one-week high on Thursday, aided bydollar weakness and belief that a temporary deal to avoidhistoric U.S. debt default might also prompt the Federal Reserveto hold back from reducing its additional monetary stimulus.

Spot gold was just shy of $1,320 per ounce, up morethan 2.5 percent. By 1114 GMT, it stood at $1,312.84.

** HARLEY-DAVIDSON INC, $65.29, down 2 pct (9:50a.m. ET)

The U.S. motorcycle maker said on Wednesday that it isvoluntarily recalling more than 29,000 of its 2014 touringmotorcycles because of a problem with their hydraulic clutchsystem.

** NOBLE CORP, $38.27, up 2 pct (9:50 a.m. ET)

The offshore drilling contractor now breaking itself up inan effort to boost its value, reported a larger-than-expectedrise in quarterly profit on Wednesday as its rigs were busierand the rates paid for them improved.

** EBAY INC, $51.16, down 4 pct (9:50 a.m. ET)

The company gave a disappointing holiday forecast onWednesday, saying the U.S. economic environment, includingconsumer confidence, had deteriorated in part because of theshutdown of the U.S. government.

** TEKMIRA PHARMACEUTICALS CORP, $8.51, down 3.5pct (10:10 a.m. ET)

The drugmaker priced its offering of 3.75 millionshares at $8 apiece, which represents a nearly 9 percentdiscount to the stock's Wednesday close.

** USG CORP, $26.13, down 3 pct (9:49 a.m. ET)

The company agreed to a joint venture with Australianbuilding materials maker Boral Ltd to bring togetherBoral's manufacturing and distribution network and USG'stechnologies, the two companies said.

** DOVER CORP, $85.95, down 3 pct (9:49 a.m. ET)

The company, which makes garbage truck compactors, carwashes and drill bits for oil rigs, narrowed its full-yearprofit forecast range due to weaker market conditions in theUnited States. Dover said it now expected earnings of$5.57-$5.64 per share compared with $5.56-$5.71 forecastearlier.

** UNIVERSAL FOREST PRODUCTS INC, $46.05, up 8 pct(9:48 a.m. ET)

The building products supplier reported a 22 percent rise inthird-quarter sales due to higher demand in a recovering U.S.housing and construction market.

** CSX CORP, $25.40, down 2 pct (9:53 a.m. ET)

The company posted a higher quarterly profit on Tuesday asits non-coal business did well and the railroad increasedprices.

** AMERICAN EXPRESS CO, $79.55, up 4 pct (9:48 a.m.ET)

The card payment company posted a higher-than-expected 9percent rise in quarterly profit as spending by corporate cardusers began to pick up after more than a year of sluggishgrowth.

** QUEST DIAGNOSTICS INC, $57.79, down 1.6 pct (9:47a.m. ET)

The company slashed its full-year earnings forecast as thelaboratory tests provider struggles with cuts in Medicarereimbursement.

** GLAXOSMITHKLINE, $50.90, up 1 pct (10:00 a.m. ET)

Mark Reilly, former head of the company's operations in China, is helping anti-corruption officials in thecountry who are investigating allegations of extensive briberyby the drugmaker. One person familiar with the situation saidReilly had been requested to remain in China while theinvestigations proceeded and he was happy to do so.

** AMARIN CORP PLC, $1.94, down 62 pct (9:46 a.m.ET)

The company's triglyceride-lowering drug Vascepa should notbe approved for use in a broader patient population untilresults from an additional study have been analyzed, an advisorypanel to the U.S. Food and Drug Administration said onWednesday.

** 3D SYSTEMS CORP, $55.83, up 1 pct (9:44 a.m. ET)

Brokerage Piper Jaffray & Co raised its price target on the3D printer maker's stock to $61 from $52, saying the company islikely to report revenue slightly above expectations for theSeptember quarter based on results from its third-quarter 3Dprinting industry survey and various channel checks over thepast few weeks. "We believe that demand tracked ahead of planfor 3D Systems resellers," Piper Jaffray analyst Troy Jensenwrote in a note to clients.

** CYPRESS SEMICONDUCTOR CORP, $9.21, down 2 pct(9:43 a.m. ET)

The company, whose touch controllers are used in devicesmade by Samsung Electronics Co, reportedthird-quarter results that were above analysts' loweredestimates, but said it would continue to see volatility in itsmobile handset business in the current quarter.

Cypress had cut its third-quarter forecast last month,citing weakness in mobile handset revenue from Asia. The companyhad said it expected its fourth-quarter revenue to be lower thanthat in the third quarter.

** SOLARCITY CORP, $56.60, up 8 pct (9:43 a.m. ET)

J.P. Morgan Securities started coverage of the U.S. solarinstaller's stock with an "overweight" rating, citing thecompany's growth in the residential solar market. SolarCitydominates the roof-top installation market with a 20 percentshare, benefiting from widely-distributed sales and access tolow-cost finance, the brokerage said in a note to clients.

** DISCOVERY LABORATORIES INC, $2.62, up 3 pct(9:42 a.m. ET)

The biotechnology company said it submitted aninvestigational new drug application to the U.S. Food and DrugAdministration to initiate a mid-stage study to test itsexperimental drug-device combination, Aerosurf. The regulatorconfirmed receipt of the application and said the company couldinitiate the trial after a 30-day period, unless otherwisenotified during its review.

Aerosurf is being developed to treat premature infants withrespiratory distress syndrome.

** CLOROX CO, $84.19, down 1.7 pct (9:42 a.m. ET)

Morgan Stanley cut its rating on the consumer productsmaker's stock to "underweight" from "equal weight," according toTheflyonthewall.com.

** SNAP-ON INC, $99.93, up 1.5 pct (9:42 a.m. ET)

The power tool maker reported a 6 percent rise in itsthird-quarter revenue due to higher sales to independentmechanics and dealership service and repair shops.

** BAXTER INTERNATIONAL INC, $66.55, down 1.5 pct(9:39 a.m. ET)

The medical products maker reported a 7 percent fall inthird-quarter earnings, hurt by charges related to its $4billion acquisition of Swedish dialysis products company GambroAB.

** EXCO RESOURCES INC, $7.15, up 0.7 pct (9:38 a.m.ET)

The gas producer and its U.K-based joint venture partner BGGroup Plc are selling their stakes in pipeline companyTGGT Holdings LLC to Azure Midstream Holdings LLC for a total of$910 million. About $875 million of the sale proceeds will be incash and the remaining will be in the form of an 8 percent stakein Azure, split equally between EXCO and BG Group. EXCO said itexpected to receive about $230 million in cash from the sale.

** KINDER MORGAN ENERGY PARTNERS LP, $80.60, up 0.6pct (9:36 a.m. ET)

The largest U.S. pipeline company said on Wednesday that itsprofit in the third-quarter rose sharply and distributionsincreased 7 percent mainly due to acquisitions. (Compiled by Sneha Banerjee in Bangalore; Editing by KirtiPandey)

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