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BUZZ-U.S. STOCKS ON THE MOVE-Wal-Mart, Priceline, Ocera Therapeutics, Netlist

Thu, 19th Feb 2015 14:08

(For faster updates on individual market-movers, Eikon usersplease use search string "STXBZ US"; for the Day Aheadnewsletter, http://link.reuters.com/mex49s; for the Morning NewsCall newsletter, http://link.reuters.com/nex49s)

U.S. stock index futures pointed to a flat open on Wall StreetThursday, with major indexes near record levels, as investorscontinued to digest ongoing uncertainty over Greece.

Dow Jones industrial average futures were down 0.26percent at 17,946, S&P 500 futures were down 0.29 percentat 2,089.5 and Nasdaq 100 futures were up 0.01 percent at4,386.25.

** WAL-MART STORES INC, Wednesday close $86.29, -1.49pct premarket

The world's largest retailer said it expected operatingincome to be "pressured" in fiscal 2016 due to investments ine-commerce initiatives and higher wages for some of its U.S.employee. The company forecast full-year profit that fell shortof analysts' average estimate. (http://1.usa.gov/17Z6TdH)

** PRICELINE GROUP INC, Wednesday close$1,122.99, +8.91 pct premarket

The online travel agency reported a fourth-quarter profitand revenue that beat analysts estimates as gross travelbookings rose 16.64 percent, helped by strong hotel and rentalcar bookings in international markets

The company's board also authorized a shares buyback worthup to $3 billion.

Priceline said it does not view consolidation by competitorsin the travel services industry as a negative and has nointention to buy another bookings site, following Expedia Inc's tentative purchase of Orbitz Worldwide Inc.

* OCERA THERAPEUTICS INC, Wednesday close$6.19, -16.32 pct premarket

The drug developer said its experimental drug OCR-002 failedmain goal of reducing ammonia level in patients with livercirrhosis-associated upper gastrointestinal bleeding in amid-stage trial.

** CASTLIGHT HEALTH INC, Wednesday close$9.46, -12.26 pct premarket

The healthcare information provider forecast first quarterand full year 2015 revenue below analysts' estimates.

Canaccord Genuity said, "When you are highly valued andprojected to lose over 60% in FCF for every dollar of revenue,you cannot have equivocal results and expect a stock tooutperform." The brokerage downgraded the stock to "hold" from"buy".

** NETLIST INC, Wednesday close $1.56, -14.10 pctpremarket

A 7.7 million stock offering by the maker of memory productsfor cloud computing and storage markets was priced at $1.30apiece. The company also said Craig-Hallum Capital Group Llcwould purchase 7.7 million shares at $1.209 per share.

Netlist also forecast fourth quarter revenue of about $2.5million and a loss of $5-$6.0 million. Two analysts on averageexpect revenue of $5.5 million, according to Thomson ReutersI/B/E/S.

** EXELIXIS INC, Wednesday close $2.73, +7.33 pctpremarket

The drugmaker said U.S. FDA grants priority review tomarketing application of its cancer compound combination totreat a kind of skin cancer. The company said it is eligible forroyalties on sales of drug in the United States.

** BJ'S RESTAURANTS INC, Wednesday close$46.88, +13.40 pct premarket

The casual dining restaurant operator reported Q4 profit andrevenue above analysts' estimates, as sales improved on new menuofferings, higher traffic and lower costs.

Stifel said, "We remain pleased with management'simplementation of several key initiatives and continue to expectmore cost-cutting and margin-enhancing leveraging opportunities,especially given improving tailwinds from the Stifel-declared"Rising Tide" dining-out recovery."

The brokerage was one among five to raise their price targeton the stock.

** EXXON MOBIL CORP, Wednesday close $91.01, -1.47pct premarket

** DIAMOND OFFSHORE DRILLING, Wednesday close$34.06, -3.11 pct premarket

** TRANSOCEAN LTD, Wednesday close $17.76, -2.08 pctpremarket

** DENBURY RESOURCES INC, Wednesday close$8.63, -1.97 pct premarket

** OCCIDENTAL PETROLEUM, Wednesday close$81.37, -2.68 pct premarket

** ANADARKO PETROLEUM, Wednesday close $86.87, -2.75pct premarket

** CONOCOPHILLIPS, Wednesday close $67.73, -2.48 pctpremarket

** ENSCO PLC, Wednesday close $30.06, -2.00 pctpremarket

** CHESAPEAKE ENERGY CORP, Wednesday close$20.75, -2.55 pct premarket

** NABORS INDUSTRIES LTD, Wednesday close$13.67, -3.51 pct premarket

** HALLIBURTON CO, Wednesday close $44.39, -2.70 pctpremarket

** CHEVRON CORP, Wednesday close $110.44, -1.71 pctpremarket

** DEVON ENERGY CORP, Wednesday close $63.95, -2.42pct premarket

The stocks of S&P components related to the oil and gassector were off as oil prices tumbled after another big weeklybuild in U.S. crude inventories and a possible rise in Saudioutput stoked worries about oversupply. At the same time,production from the world's biggest exporter Saudi Arabia may beincreasing to near 10 million barrels per day, consultancy PIRAsaid on Wednesday.

** EOG RESOURCES INC, Wednesday close $95.31, -6.79pct premarket

The oil and natural gas producer posted a quarterly profitfar below Wall Street's expectations on Wednesday and slashedits 2015 budget, marking the latest energy giant to fall victimto plunging crude CLc1 prices.

** COEUR MINING INC, Wednesday close $6.93, -5.34pct premarket

The gold and silver miner posted an 18 percent fall infourth-quarter revenue, hurt by lower metal prices and adecreased gold sales. The company expects 2015 silver productionof 14.8 - 16.0 million ounces down from 2014 production of 17.2million ounces.

** T-MOBILE US INC, Wednesday close $31, +3.87 pctpremarket

The No. 4 U.S. wireless operator's quarterly profit andrevenue handily beat market estimates as aggressive discountshelped the company add more than 2 million subscribers.

** SOLARCITY CORP, Wednesday close $57.1, -3.85 pctpremarket

The solar company's current-quarter sales forecast missesanalysts' estimate, hurt by strong winter. The company reportedfourth-quarter loss, compared with year-ago profit, hurt byincreased expenses and low deployments.

** SUNEDISON INC, Wednesday close $22.02, -2.82 pctpremarket

The U.S. solar company's fourth-quarter adjusted operatingloss increases mainly due to projects being retained rather thansold, non-cash asset impairment charges and operating costsrelated to growth initiatives.

** BALL CORP, Wednesday close $77.16, -1.17 pctpremarket

** REXAM PLC, Wednesday close $42.975, +1.22 pctpremarket

British drinks can maker Rexam said U.S. rival BallCorp offered to buy the company in a cash-and-stock deal valuedat about $6.85 billion), creating an industry giant betterequipped to withstand rising aluminum costs.

Breakingviews-Drinks can merger may yet get flattened

** DIRECTV, Wednesday close $87.34, +0.53 pctpremarket The No.1 U.S. satellite TV company reported a quarterly profitabove analysts' estimates as it added more subscribers thanexpected, helped by its exclusive Sunday NFL broadcasts.

** APPLE INC, Wednesday close $128.715, -0.17 pctpremarket

Electric-car battery maker A123 Systems has sued Apple forpoaching top engineers to build a large-scale battery division,according to a court filing that offered further evidence thatthe iPhone maker may be developing a car.

** GOOGLE INC, Wednesday close $542.65, -0.27 pctpremarket

Google's YouTube is set to launch its long-awaited paidmonthly subscription service called YouTube Music Key in a fewmonths, said Robert Kyncl, the online video service's head ofcontent and business operations, at the Code/Media conference.

(Compiled by Neha Dimri in Bengaluru; Editing by Savio D'Souza)

More News
25 Nov 2015 18:43

REFILE-Ball offers to sell 11 plants in bid for EU okay for Rexam buy -sources

(Adds Austria as additional location for asset sales) By Foo Yun Chee BRUSSELS, Nov 25 (Reuters) - U.S. drinks can maker Ball Corp is ready to sell 11 plants in Europe in a bid to convince EU antitrust regulators to approve its 4.43 billion pound ($6.69 billion) offer for British pe

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Ball Corp Still Expects Clearance For Rexam Deal In First Half Of 2016

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19 Nov 2015 11:40

EU regulators extend $6.8 bln Ball, Rexam deal review to Jan. 22

BRUSSELS, Nov 19 (Reuters) - European Union antitrust regulators have extended by a month the deadline for a decision on U.S. drinks can maker Ball Corp's proposed 4.43-billion-pound ($6.76 billion)takeover of British peer Rexam. The European Commission had set a deadline of Dec. 23 after p

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12 Nov 2015 08:17

Rexam on line to meet full year expectations as can volume rises

(ShareCast News) - Can beverage maker Rexam said an increase in can volume in the third quarter had contributed to keep trading in line with expectations in the second half of the year. In the three months to the end of September, global beverage can volumes rose 3% year-on-year, despite a subdued p

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Rexam Says Trading In Line For 2015 But 2016 Looks Challenging

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BRUSSELS, Oct 30 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- BT Pension Scheme and Canada Pension Plan Investment Board to acquire a London property (approved Oct. 29) -- P

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30 Oct 2015 12:08

Companies lose equity and faith on S&P news

* New criteria turns hybrids into expensive senior debt * Reinstating lost equity could be costly * S&P move could re-price hybrid market By Laura Benitez LONDON, Oct 30 (IFR) - Standard & Poor's shock removal of the equity content it had assigned to 29 corporate hybrid bo

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30 Oct 2015 09:59

EU regulators extend $6.8 bln Ball, Rexam deal review to Dec. 23

BRUSSELS, Oct 30 - European Union antitrust regulators will decide by Dec. 23 whether to clear U.S. drinks can maker Ball Corp's 4.43-billion-pound ($6.8 billion) proposed takeover of British peer Rexam, a two-week delay agreed with the companies. The European Commission's previous deadline

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