Oct 19 (Reuters) - Some U.S. stocks on the move on Friday:
(For more market insights, including options activity, click
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WALL STREET OPENS LOWER AS EARNINGS DISAPPOINT
Stocks opened lower following disappointing results from
Microsoft and McDonald's, while General Electric reported
revenue that fell short of estimates.
The Dow Jones industrial average fell 66.16 points,
or 0.49 percent, to 13,482.78. The Standard & Poor's 500 Index
slipped 5.24 points, or 0.36 percent, to 1,452.10. The
Nasdaq Composite Index dropped 12.08 points, or 0.39
percent, to 3,060.78.
** GENERAL ELECTRIC CO, $22.40, down 1.8 pct (0935
ET)
The largest U.S. conglomerate posted third-quarter revenue
of $36.3 billion, below analysts' estimates of $36.94 billion,
according to Thomson Reuters I/B/E/S. The company said foreign
exchange negatively impacted its revenue by $1.1 billion. "The
overall environment remains challenging," the company said in a
statement.
** MCDONALD'S CORP, $89.85, down 3 pct (0935 ET)
The world's biggest fast-food chain reported a lower
quarterly profit on Friday that missed analysts' expectations,
as the weak global economy and the strong U.S. dollar weighed on
results.
** GOOGLE INC, $700.00, up 0.6 pct (0936 ET)
At least seven brokerages cut their price targets on
Google's shares after the company missed Wall Street earnings
expectations, but analysts said growing mobile advertising
revenue points to better times ahead.
** HONEYWELL INTERNATIONAL INC, $60.96, up 0.7 pct
(0936 ET)
The diversified U.S. manufacturer reported a 10 percent rise
in quarterly earnings as declining natural gas prices helped
boost profits at its UOP chemical arm, offsetting weakness in
Europe.
** SCHLUMBERGER LTD, $75.29, up 0.6 pct (0937 ET)
The world's largest oilfield services company, reported a
higher-than-expected quarterly profit, lifted by its strength
outside the volatile North American market and its exposure to
the offshore drilling boom.
** BAKER HUGHES INC, $46.22, down 2 pct (0937 ET)
The world's third-largest oilfield services company,
reported weaker-than-expected quarterly results as a slowdown in
North American drilling activity hit prices.
** INGERSOLL RAND PLC, $46.74, down 2.3 pct (0938 ET)
The maker of Trane air conditioners, Schlage locks and Club
Car golf carts reported sharply higher third-quarter earnings,
but said European and Asian markets had weakened, and its
fourth-quarter forecast was below Wall Street expectations.
** MANPOWER INC, $39.48, up 10 pct (0938 ET)
The largest U.S.-listed staffing company reported a
third-quarter profit above market expectations as higher gross
margins offset big falls in demand in Europe, and it forecast
better-than-expected fourth-quarter earnings.
** MCMORAN EXPLORATION CO, $12.67, down 0.7 pct
(0938 ET)
The oil and gas producer reported a bigger third-quarter
loss as production fell due to shutdowns caused by Hurricane
Isaac.
** MICROSOFT CORP, $28.71, down 2.7 pct (0940 ET)
The company's quarterly profit fell a greater-than-expected
22 percent, as sales of computers running its Windows operating
system dipped and some revenue was deferred ahead of upcoming
releases of its core Windows and Office products.
** WAL-MART STORES INC, $76.65, down 0.1 pct (0940
ET)
Indian regulators have begun an informal inquiry into
allegations that Wal-Mart violated rules restricting foreign
investment in the country's fast-growing retailing industry, the
New York Times reported. http://link.reuters.com/ruv43t
** MARVELL TECHNOLOGY GROUP LTD, $7.75, down 12 pct
(0943 ET)
The chipmaker cut its revenue estimate for the current
quarter and announced the departure of its chief financial
officer. [ID: nL1E8LIEWJ]
** FLEXTRONICS INTERNATIONAL LTD, $6.04, down 1.3
pct (0940 ET)
The contract electronics manufacturer forecast third-quarter
results below analyst estimates on Thursday, prompting a host of
brokerages to cut their price targets on the stock.
** ADVANCED MICRO DEVICES, $2.58, down 1.5 pct (0941
ET)
The PC chipmaker said on Thursday that it will cut its work
force of nearly 12,000 by 15 percent - its second round of
layoffs in less than a year as it struggles with a weak global
economy and a consumer shift toward tablets.
At least two brokerages cut their ratings on the stock
citing the company's fourth-quarter forecast of 5 percent to 13
percent dip in sales.
** VIVUS INC, $21.25, down 1.3 pct (0941 ET)
European regulators recommended that its obesity pill not be
approved, citing potential safety concerns related to the
long-term use of the drug.
** COOPER INDUSTRIES PLC, $73.95, down 1.3 pct (0941
ET)
The electrical products maker that agreed to a takeover by
Eaton Corp, reported higher-than-expected quarterly
profit and sales, helped by lighting demand in North America and
growth in international energy projects.
** PARKER HANNIFIN CORP, $78.67, down 7.6 pct (0942
ET)
The maker of control systems for manufacturing and transport
reported lower quarterly earnings on Friday and cut its forecast
for the fiscal year that ends in June, citing an uncertain
economic outlook.
** SANDISK CORP, $46.42, up 8 pct (0942 ET)
The company's quarterly results topped expectations as
rising demand for chips used in smartphones and tablets and a
limited supply drove up prices for flash memory, a trend that
the chipmaker expects will continue.
** SHAW GROUP INC, $43.63, down 1.6 pct (0942 ET)
The U.S. engineering company, which agreed in July to a $3
billion takeover by Chicago Bridge & Iron Co CBI.N, reported a
fourth-quarter profit on higher sales in its power business.
** COPANO ENERGY LLC, $32.18, down 3.5 pct (0943
ET)
The company which provides services to natural gas producers
said it made a public offering of 6 million common shares on
Thursday.
** AIR PRODUCTS & CHEMICALS INC, $82.12, down 3.8
pct (0943 ET)
The company posted a sharp drop in quarterly profit on
Friday, partly due to weak demand for a solar product, and the
industrial gas producer said its chief financial officer will
retire.
** CALGON CARBON CORP, $13.1, down 6.2 pct (0943 ET)
The provider of water purification products and services
said on Thursday it expects to report a third-quarter loss
affected by lower utilization of activated carbon.
** CAPITAL ONE FINANCIAL CORP, $59.30, up 3.6 pct
(0944 ET)
The company's quarterly profit rose 44 percent after two big
acquisitions, but the lender said increasing competition for
automobile and commercial loans may curb future growth.
** RIVERBED TECHNOLOGY INC, $23.01, up 11 pct (0944
ET)
** F5 NETWORKS INC, $98.17, up 1 pct (0944 ET)
Network gear maker Riverbed reported a better-than-expected
third-quarter profit and forecast strong results for the current
quarter as demand grew for its products that boost data speeds
over wide-area networks.
Peer F5 Networks's shares also rose on the news.
** ISIS PHARMACEUTICAL INC, $9.27, up 3.6 pct (0945
ET)
A U.S. Food and Drug Administration panel of outside experts
recommended the Sanofi SA and Isis Pharmaceutical
drug, Kynamro, for treatment of a rare genetic disorder that
causes unusually high cholesterol and life-threatening
cardiovascular disease.
** CHIPOTLE MEXICAN GRILL INC, $244.00 down 14.6 pct
(0945 ET)
The Denver-based burrito chain said on Thursday that
restaurant sales growth would cool in 2013 and some analysts
said that might signal the end of the hyper growth investors had
come to enjoy.
Wedbush Securities Inc downgraded the company's stock to
"neutral" from "outperform" as it does not expect same-store
sales to grow due to the company's low marketing spend and lack
of price increases.
** PIXELWORKS INC, $2.40, down 21 pct (0946 ET)
The digital display chipmaker reported lower-than-expected
quarterly sales driven by lower licensing revenue recognized in
the quarter. Third-quarter revenue fell about 8 percent to $16.3
million, below analysts' estimates of $17 million, according to
Thomson Reuters I/B/E/S.
** CAPITAL ONE FINANCIAL CORP, $59.68, up 4.3 pct
(0946 ET)
The bank's quarterly profit rose 44 percent after two big
acquisitions, but the lender said increasing competition for
automobile and commercial loans may curb future growth. RBC and
Nomira raised their price target on the bank.
** ACACIA RESEARCH CORP, $24.80, down 0.9 pct (0946
ET)
The company, which buys and licenses patents, reported a
surprise third-quarter loss of 17 cents while analysts'
estimated a profit of 23 cents, according to Thomson Reuters
I/B/E/S.
Barclays Capital and J.P. Morgan cut their price target on
Acacia. J.P. Morgan analyst Paul Coster said the company had a
problem in closing a strong pipeline of large licensing deals
due to prolonged negotiations.
** VOC ENERGY TRUST, $17.53, down 8.8 pct (0947 ET)
The company said its trust distribution of net profits for
the third quarter would be payable on Nov. 14 and said its
unitholders will receive a distribution of $7.82 million, or 46
cents per share.
** RAMBUS INC, $5.06, up 2.4 pct (0947 ET)
The technology licensing company reported third-quarter
revenue of $57.5 million on Thursday that was above analysts'
average estimates of $56 million, according to Thomson Reuters
I/B/E/S.
** HEALTHWAYS INC, $9.21, down 17 pct (0947 ET)
The healthcare service provider narrowly beat third-quarter
earnings estimates, but lowered its full-year profit outlook to
a range of 24 to 30 cents per share, down from previous view of
38 to 50 cents.
The company also missed third-quarter revenue estimates,
hurt by the loss of a contract with Cigna Corp, and
narrowed its full-year revenue outlook to $670 million to $685
million, from its prior view of $665 million to $670
million.
** CITY NATIONAL CORP, $50.63, down 3.7 pct (0948
ET)
The Los Angeles-based regional bank reported its
third-quarter earnings, beating analyst estimates as the bank
kept aside less money to cover bad loans.
** ARCHER DANIELS MIDLAND CO, $28.94, 0.4 pct (0948
ET)
The company bought a 10 percent stake in GrainCorp Ltd
, valuing the Australian grains handler at $2.8 billion,
and is seeking talks on a takeover that would give the U.S.
agribusiness a stronger platform to supply Asia.
** GENESIS ENERGY LP, $33.83, up 0.5 pct (0949 ET)
Barclays Capital started coverage on the stock with
"overweight" rating.
** HOME LOAN SERVICING SOLUTIONS LTD, $19.00, up 2
pct (0949 ET)
Barclays Capital raised the company's stock to "overweight"
rating.
(Compiled by Aditi Shrivastava in Bangalore)
Source: http://news.yahoo.com/market-pulse-ge-mcdonalds-google-microsoft-marvell-135240297--sector.html
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