March 18 (Reuters) - Some U.S. stocks to watch on Monday:
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U.S. stock index futures fell sharply on Monday as investors, rattled by a radical bailout plan for Cyprus reached over the weekend that knocked confidence in European banks, became sellers, locking in profits from the recent rally.
S&P 500 futures fell 12.8 points. Dow Jones industrial average futures fell 92 points, and Nasdaq 100 futures lost 23 points.
** BANK OF AMERICA CORP, Friday close $12.57, down 1.5 pct premarket
** CITIGROUP INC, Friday close $47.26, down 1.8 pct, premarket
** JPMORGAN CHASE & CO, Friday close $50.02, down 1.2 pct premarket
** MORGAN STANLEY, Friday close 23.59, down 2 pct premarket
** WELLS FARGO & CO, Friday close $38.20, down 1.3 pct premarket
U.S. bank stocks were headed for a lower open after an unusual bank bailout proposal for Cyprus threatened to trigger fresh turmoil in the euro zone. News that Cyprus would have to tax depositors as part of the bailout plan sparked fears of a run on some banks in the region, driving down the euro and other riskier assets such as Asian shares and base metals.
** PALOMAR MEDICAL TECHNOLOGIES INC, Friday close $12.62, up 7.6 pct premarket
** CYNOSURE INC, Friday close $28.45
Cynosure Inc said it would buy Palomar Medical Technologies Inc, which makes lasers for cosmetic procedures, for about $294 million in cash and stock. Palomar shareholders will get the equivalent of $13.65 per share, a premium of 8 percent to the stock’s closing price on Friday.
** COFFEE HOLDING CO INC, Friday close $7.72, down 7 pct premarket
The wholesale coffee dealer reported a 45 percent fall in first-quarter sales, hurt by lower coffee prices and reduced volumes of wholesale green coffee sales.
** ENTROPIC COMMUNICATIONS INC, Friday close $4.649, down 4 pct premarket
The company which designs chipsets for video and broadband multimedia applications, cut its outlook for the first quarter. Entropic said revenue would be hurt by a change in deployment plans for some set top boxes by a U.S. pay-TV service provider.
** GLU MOBILE INC, Friday close $3.34, up 3.6 pct premarket
Northland Capital Markets raised its rating on the mobile games maker’s stock to “outperform” from “market perform”, saying the company has substantially improved its hit rate for new games.
** CARNIVAL CORP, Friday close $34.95, down 3 pct premarket
The cruise operator, grappling with a series of recent headline-grabbing mishaps involving its ships, said on Friday it returned to profitability in the latest quarter but cut its revenue and profit forecast for the year.
Carnival cited weakness in Europe and pricing promotions aimed at attracting customers for the lowered forecast
** MICRON TECHNOLOGY INC, Friday close $9.37, down 2 pct premarket
Susquehanna downgraded the chipmaker’s stock to “negative” from “neutral” and cut its price target on the stock by $1 to $8. The brokerage said the company’s second-quarter results would likely beat analysts’ estimates, but the expectation has already been priced into its stock.
** YONGYE INTERNATIONAL INC, Friday close $5.32, down 6 pct premarket
The Chinese manufacturer of crop nutrient products delayed the release of its earnings results for the fourth quarter and the full year 2012 due to “doubtful accounts”, according to an SEC filing.
** CONSTELLATION BRANDS INC, Friday close $45.75, up 3.2 pct after market
The U.S. Justice Department and beer giant Anheuser-Busch InBev, embroiled in a battle over whether AB InBev can expand its stake in Mexico’s Grupo Modelo, asked a court on Friday to extend a delay in the court fight as they hold settlement talks.
Constellation Brands is slated to buy Modelo’s U.S. distributor, Crown Imports, under the same deal.
** STMICROELECTRONICS NV , Friday close $7.64
** ERICSSON , Friday close $13.28, down 1 pct premarket
STMicroelectronics and Ericsson will close their loss-making mobile chip joint venture ST-Ericsson by dividing parts of the business between them and shutting the rest with the loss of about 1,600 jobs.
The announcement ends months of speculation about the future of ST-Ericsson, which has been hit by a big drop in orders from top customer Nokia as the phone maker lost market share to Apple and Samsung.
** DEX ONE CORP, Friday close $2.11
** SUPERMEDIA INC, Friday close $4.41, down 26 pct premarket
The directories publishers have filed for bankruptcy after failing to win the full support of senior secured lenders for a change to a credit agreement that was needed to complete their planned merger.
** BOEING CO, Friday close $86.43
The company said on Friday that its 787 Dreamliner jets could be airborne within weeks using a new battery system that includes safeguards against overheating, a prediction that drew scepticism from some regulators and industry experts. (Compiled by Pallavi Ail in Bangalore; Editing by Sreejiraj Eluvangal)