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U.S. stocks fell on Friday in the wake of a selloff in emerging
market assets, as expectations grew that the Federal Reserve
will trim its market-friendly stimulus measures further next
week. The Dow Jones industrial average was down 0.51
percent at 16,114.13, the S&P 500 was down 0.66 percent
at 1,816.45 and the Nasdaq Composite was down 0.82
percent at 4,184.309.
** MICROSOFT CORP, $37.1944, +3.16 pct
The company posted a bigger-than-expected quarterly profit
on Thursday, boosted by strong sales of its software and
services for businesses, a solid holiday season for its new Xbox
game console and Surface tablets, and a slightly lower tax bill.
** COVIDIEN PLC, $69.88, +4.58 pct
The medical devices maker posted a quarterly profit above
analysts' estimates, helped by strong sales of its surgical
products, especially vessel sealing and stapling devices.
** PTC THERAPEUTICS INC, $23.98, -8.54 pct
The company said a committee of the European Medicines
Agency recommended against a conditional approval to its drug
for the treatment of a rare muscular disorder, sending its
shares down nearly 30 percent in premarket trading.
** BIODELIVERY SCIENCES INTERNATIONAL INC, $9.05,
An experimental painkiller developed by the company and Endo
Health Solutions Inc showed a significant improvement
in pain relief compared with a placebo.
At least two brokerages raised their price target on
BioDelivery's stock on Friday.
** XEROX CORP, $11.52, -2.04 pct
The company, best known as a maker of printers and copiers,
reported weaker-than-expected quarterly revenue as growth in its
services business stalled.
** EBAY INC, $54.12, -1.49 pct
Activist investor Carl Icahn's stake in the e-commerce
company is more than previously reported at close to 2 percent,
a source familiar with the matter said on Thursday. EBay said
this week that Icahn had taken a 0.82 percent interest in the
company earlier this month and made a non-binding proposal for
eBay to spin off its PayPal payments business.
** GENERAL MOTORS, $37.4, -2.65 pct
The company is seeking to cut shifts by half at one of its
South Korean factories as it realigns global manufacturing in a
move that could affect about 1,100 jobs, a source with direct
knowledge of the matter told Reuters on Friday.
** STARBUCKS CORP, $75.9104, +3.43 pct
The world's biggest coffee chain's quarterly sales at
established restaurants in its U.S.-dominated Americas region
cooled more than analysts expected as online shopping kept more
consumers at home and reduced their visits to its coffee bars.
However, the company boosted its fiscal 2014 earnings per
share forecast to a range of $2.59 to $2.67, from $2.55 to $2.65
** INTUITIVE SURGICAL INC, $419.905, -4.35 pct
The company said on Thursday that it expected to sell fewer
of its high-priced da Vinci surgical robot systems in 2014 than
last year and diverged from past practice by not providing a
revenue forecast for the year.
** JUNIPER NETWORKS INC, $28.158, +8.26 pct
Jana Partners LLC has taken a large stake in the network
gear maker, a move that comes at a time when Juniper is being
urged by one of its prominent investors to increase shareholder
** KANSAS CITY SOUTHERN, $96.12, -18.04 pct
The regional railroad operator missed fourth-quarter profit
estimates on Friday amid weakness in its energy business,
including lower coal shipments.
** HONEYWELL INTERNATIONAL INC, $90.55, +0.84 pct
The diversified U.S. manufacturer of aerospace parts and
climate control systems backed its 2014 financial targets, set
last month, but forecast first-quarter earnings below Wall
** BRISTOL-MYERS SQUIBB CO, $55.19, +2.30 pct
The drugmaker's quarterly sales and earnings beat Wall
Street expectations, helped by cost cuts and growing sales of
its treatments for cancer, blood clots and diabetes.
** BOEING CO, $139.2, -1.49 pct
The reliability of Boeing's 787 Dreamliner is slowly
improving but it is still not at a satisfactory level and the
firm is working to improve the jet's performance, said Mike
Fleming, Boeing's vice president for 787 support and services.
** PROCTER & GAMBLE CO, $81.59, +4.28 pct
** KIMBERLEY CLARK CORP, $110.32, +4.65 pct
Procter & Gamble, the world's largest household products
maker, said it expected organic sales, which strip out the
impact of currency changes as well as acquisitions and
divestitures, to rise 3-4 percent, and core earnings to rise 5-7
percent in 2014. However, the company reported lower quarterly
profit, hurt by unfavorable currency movements and lower gross
Rival Kimberley Clark said its organic sales rose 5 percent,
and forecast that they would rise 3-5 percent in 2014.
** CST BRANDS INC, $31.31, -4.28 pct
The gas station operator and convenience merchandise
retailer said on Thursday that its fourth-quarter motor fuel
volume in both the United States and Canada was expected to be
close to the low-end of its previous estimate.
Motor fuel volume is expected to be 4,850-4,950 gallons per
site per day in the United States and 3,300-3,400 gallons per
site per day in Canada.
The company also said it expected North America merchandise
sales in the quarter to be at the low end of its prior forecast.
** COMPUWARE CORP, $10.3573, -1.83 pct
The business software maker reported lower-than-expected
third-quarter revenue on Thursday, hurt by lower fee from its
software license business coupled with stagnant maintenance
activities fee and professional services revenue.
** QUALCOMM INC, $74.92, -1.25 pct
** HEWLETT-PACKARD CO, $28.9, -1.60 pct
Chipmaker Qualcomm acquired a patent portfolio from
Hewlett-Packard, including those of its iPaq smartphone, for an
undisclosed amount. The portfolio comprises about 1,400 granted
patents and pending patent applications from the United States
and about 1,000 granted patents and pending patent applications
from other countries.
** STANLEY BLACK & DECKER INC, $82.61, +2.74 pct
The power tools maker reported fourth-quarter results that
beat analysts' estimates, driven by a 7 percent rise in volumes.
The company reported a profit of $1.32 per share on revenue
of $2.90 billion. Analysts on average had expected a profit of
$1.30 per share on revenue of $2.87 billion, according to
Thomson Reuters I/B/E/S.
** ARCH COAL INC, $4.17, -1.65 pct
Analysts at Clarkson Capital Markets cut their rating on the
coal producer's stock to "underperform" from "market-perform,"
saying they expected the company to generate a negative free
cash flow in 2015.
Analysts also expressed concerns about declining
productivity at Arch Coal's flagship steel-making metallurgical
coal mine of Mountain Laurel, West Virginia.
** RICE ENERGY INC, $21.13, +0.62 pct
The natural gas producer's shares rose as much as 7 percent
in their U.S. market debut, valuing the company at about $2.9
billion. The 44-million-share offering raised about $924 million
after being priced at $21 per share, the high end of the
expected price range.
** MCKESSON CORP, $175.25, +1.67 pct
The U.S. drugs distributor succeeded in its second attempt
to win control of German peer Celesio in a deal with
Celesio's two largest shareholders, German investment group
Haniel and U.S. hedge fund Elliott.
** INTERNATIONAL GAME TECHNOLOGY, $15.68, -11.16 pct
The slot-machine maker warned that its full-year profit
would more likely be towards the lower end of its previous
forecast due to continued weakness in the North American gaming
** JA SOLAR HOLDINGS CO LTD, $8.88, -4.62 pct
** RENESOLA LTD, $3.56, -5.82 pct
** YINGLI GREEN ENERGY HOLDING CO LTD, $5.98, -6.27
** TRINA SOLAR LTD, $13.98, -7.42 pct
** CANADIAN SOLAR INC, $38.5, -6.28 pct
U.S. trade officials opened investigations on Thursday into
imports of certain solar power products from China and Taiwan,
following a complaint at the end of last year by the U.S. unit
of German solar manufacturer SolarWorld AG.
The company at the time said it was seeking to close a
loophole that enabled Chinese solar panel producers to evade
U.S. import duties by using cells manufactured in other
countries, mainly Taiwan.
** LOCKHEED MARTIN CORP, $148.22, -1.51 pct
A new U.S. Defense Department report warned that ongoing
software, maintenance and reliability problems with Lockheed
Martin's F-35 stealth fighter could delay the Marine Corps'
plans to start using its F-35 jets by mid-2015.
The company forecast on Thursday higher earnings in 2014
after charges linked to U.S. defense budget cuts and workforce
reductions depressed earnings in the fourth quarter.
** BANK OF AMERICA CORP, $16.66, -1.19 pct
The lender is looking to win more advisory and stock
underwriting business to offset an expected slowdown in the
issuance of corporate bonds, a top executive said in an
interview on Thursday.
** SYNGENTA AG, $74.94, -3.69 pct
Two leading U.S. grain groups have asked the world's largest
crop chemicals company to suspend the commercial use
in the United States of two genetically modified strains of corn
not currently approved in China.
** DIGI INTERNATIONAL INC, $10.58, -12.49 pct
The networking device maker forecast current-quarter results
below analysts' estimates, after reporting lower-than-expected
results for the first quarter on Thursday due to a fall in
revenue in its product business.
The company said its product revenue was hurt by a delay in
orders from some customers.
** APPLIED MICRO CIRCUITS CORP, $10.9, -3.96 pct
The chipmaker reported third-quarter revenue slightly below
estimates on Thursday, prompting brokerage BMO Capital Markets
to lower its price target on the company's stock to $12 from
** DISCOVER FINANCIAL SERVICES, $55.08, +5.11 pct
The credit card issuer reported a better-than-expected 11
percent rise in quarterly profit as more consumers used cards to
** OPENTEXT CORP, $101.92, +12.47 pct
The Canadian business software maker's
second-quarter results beat analysts' estimates, driven by
higher license sales and customer service revenue.
** PROGENICS PHARMACEUTICALS INC, $6.43, -4.46 pct
The company filed a prospectus, called a shelf registration,
with the U.S. Securities and Exchange Commission seeking to
raise up to $150 million through the potential sale of
securities that could include stock, debt securities, or
** KKR & CO, $25.14, -2.44 pct
** BLACKROCK INC, $311.22, -1.38 pct
KKR & Co and BlackRock are among the investors in talks to
buy a stake in China Huarong Asset Management Co Ltd as the bad
debt manager seeks to raise more than $2 billion, people
familiar with the matter told Reuters.
** NOVARTIS, $80.23, -1.91 pct
The European Medicine Agency recommended rejecting an
application from the Swiss drugmaker to market its
heart failure drug serelaxin.
** GOLDMAN SACHS GROUP INC, $168.92, -1.07 pct
The bank may stop traders from using certain chat messaging
services to protect internal conversations that are lately being
subjected to intense regulatory scrutiny, the Wall Street
(Compiled by Neha Dimri in Bangalore; Edited by Kirti Pandey)