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BUZZ-U.S. STOCKS ON THE MOVE-Apple, Microsoft, Chipotle, Intuitive Surgical

Wed, 22nd Jul 2015 14:25

(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. stocks fell in early trading on Wednesday afterdisappointing results from technology giants including Apple,the world's largest publicly traded company. The Dow Jonesindustrial average was down 0.12 percent at 17,897.7, theS&P 500 was down 0.10 percent at 2,116.99 and the NasdaqComposite was down 0.58 percent at 5,177.793.

** APPLE INC, $124.41, -4.85 pct

The company's fourth-quarter revenue forecast fell short ofestimates and it missed some targets for iPhone sales. Theforecast overshadowed Apple's strong sales in China, which morethan doubled to $13.23 billion from a year earlier.

** CHIPOTLE MEXICAN GRILL INC, $724.64, +7.66 pct

The Burrito chain reported a better-than-expected quarterlyprofit as margins rose due to lower ingredient costs. Piper Jaffray, JP Morgan raised price targets.

** INTUITIVE SURGICAL INC, $560.36, +10.94 pct

The robotic surgical equipment maker reported abetter-than-expected quarterly profit and forecast surgicalprocedures to grow 11 to 13 percent this year, sending itsshares up 13 percent.

** BIOGEN, $397.09, -3.03 pct

A 6 mg dose of the drugmaker's experimental Alzheimer'sdisease drug significantly reduced beta amyloid plaque in thebrain but failed to significantly slow mental decline,potentially tempering great enthusiasm that greeted data on twoother doses of the treatment earlier this year.

** XOMA CORP, $1.0788, -75.45 pct

The drug developer says its experimental treatment for aninflammatory disease failed to meet main goal of late-stagestudy. The company says the compound, gevokizumab, was notbetter than a placebo in reducing risk of inflammation inpatients's blood vessels in the eye.

** ABBOTT LABORATORIES INC, $50.9, +2.29 pct

The company reported a slightly better-than-expectedquarterly profit, helped by higher sales of its brandedgenerics.

** LIPOCINE INC, $13.04, +10.60 pct

Analysts at Roth Capital start coverage of the drugmaker'sstock with "buy" rating. We believe Lipocine's LPCN 1021, whichis an oral T formulation, is on track to become the firstlandmark product in the category since the popular Androdermgel's launch in 2000", analysts say.

** MICROSOFT CORP, $46.1801, -2.33 pct

The company reported a $3.2 billion quarterly net loss, itsbiggest ever, as the company wrote down its Nokia phone businessand demand fell for its Windows operating system. The companytook a charge of $7.5 billion in the fourth quarter related tothe restructuring of its Nokia handset business, which it boughtlast year.

** YAHOO INC, $39.07, -1.66 pct

The company forecast lower-than-expected revenue for thecurrent quarter as it struggles to revive its core onlineadvertising business and spends more to attract users to itswebsites.

** REGULUS THERAPEUTICS INC, $9.57, -6.27 pct

Sources cite UBS reoffering 2.33 mln shares versus stock's$10.21 close; expected price and seller(s) not known.

** BOEING CO, $147.92, +2.01 pct

Boeing Co BA.N topped earnings estimates and doubled itsclosely watched quarterly cash flow, partly offsetting a bigcharge for its aerial tanker program.

** THORATEC CORP, $63.07, +9.53 pct

** ST JUDE MEDICAL INC, $77.26, +0.72 pct

Medical device maker St Jude Medical agreed to buy smallerrival Thoratec Corp for about $3.4 billion to expand itsportfolio of heart failure devices.

** AUTONATION, $62.56, -3.34 pct

The largest U.S. auto retailer, reported a 15 percent risein quarterly profit as an improving economy and low oil pricesboosted vehicle sales.

** BHP BILLITON, $38.29, -3.50 pct

** CLIFFS NATURAL RESOURCES INC, $2.56, -12.33 pct

London copper at two-week lows, Chinese steel &iron ore futures fall as demand weakens.

All four of BHP's "four pillars of growth" currently atmulti-year lows and forward price curves charted by Reuterssuggest that is unlikely to change soon. The world's biggestminer has 10 major commodities, including iron ore, copper,petroleum products and coal.

** THERMO FISHER SCIENTIFIC INC, $139.84, +2.47 pct

The world's largest maker of scientific instruments reporteda better-than-expected quarterly profit, helped by lower costsand strength in its life sciences unit.

** INTERPUBLIC GROUP OF COS INC, $20.4, +3.03 pct

The Advertising company's second-quarter revenue trumpedexpectations for the seventh straight quarter as higheradvertising spending by U.S. businesses made up for the strongdollar's impact on international revenue. (Compiled by Rosmi Shaji in Bengaluru; Edited by Don Sebastian)

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