March 28, 2013 / 11:39 AM / in 5 years

MARKET PULSE-BlackBerry, Red Hat, Five Below, US Airways, Winnebago

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March 28 (Reuters) - Some U.S. stocks to watch on Thursday:

U.S. STOCK INDEX FUTURES SIGNAL FLAT TO LOWER OPEN

U.S. stock index futures pointed to a flat to lower open on Wall Street on Thursday, with futures for the S&P 500 down 0.22 percent, Dow Jones futures up 0.01 percent and Nasdaq 100 futures up 0.03 percent at 0900 GMT.

** BLACKBERRY , Wednesday close $14.57, up 9 pct premarket

The smartphone maker announced better-than-expected results, driven by demand for its new touchscreen device which holds the key to a successful turnaround for the smartphone maker.

BlackBerry, based in Waterloo, Ontario-based, said it sold about 1 million of the new Z10 device in the quarter, and shipped roughly 6 million smartphones in the quarter ended March 2.

** RED HAT INC, Wednesday close $49.97, down 4 pct premarket

The world’s largest commercial distributor of the Linux operating system, on Thursday reported lower-than-expected fourth-quarter revenue.

Needham & Co on Thursday lowered its price target on the company’s stock to $60 from $63, citing its “tepid” forecast and lack of clarity on revenue growth from its virtualization and storage products. Susquehanna Financial Group also cut its target on the stock to $65 from $66.

** WINNEBAGO INDUSTRIES INC, Wednesday close $21.87 The largest U.S. motor home maker reported a second-quarter profit after a year-earlier loss as revenue rose by more than a third. Winnebago said its motorhome backlog nearly doubled to 2,752 units.

** FIVE BELOW INC, Wednesday close $39.16, down 8 pct after market

The specialty value retailer forecast first-quarter and full-year results below Wall Street estimates, despite reporting strong fourth-quarter results, as it expects costs related to its new distribution centre and public company expenses to hurt gross margins in the first half of fiscal 2013.

** US AIRWAYS GROUP, Wednesday close $16.65, up 3 pct after market

A judge on Wednesday approved AMR Corp’s plan to merge with US Airways Group, a step toward creating the world’s largest airline.

** BIOGEN IDEC INC, Wednesday close $182.68, up 2 pct premarket

U.S. regulators on Wednesday approved a new multiple sclerosis drug made by Biogen that is widely expected to become the No. 1 oral treatment for the disease, with annual sales topping $3 billion.

** GREENBRIER CO INC, Wednesday close $21.33, up 7 percent after market

The freight-car maker said it received orders for 5,400 railcars, valued at about $575 million, for the first three months of calendar year 2013.

** VERINT SYSTEMS INC, Wednesday close $34.83, up 6 pct after market

The developer of video and audio monitoring systems and analytical software reported better-than-expected second-quarter results on Wednesday and forecast revenue growth of 6 to 7 percent for the year ending Jan. 31, 2014.

“We expect margins to expand as analytics software increases as a percentage of overall revenue,” JP Morgan analyst Paul Coster wrote in a note to clients, and raised his price target on the stock to $41 from $39.50.

** GT ADVANCED TECHNOLOGIES, Wednesday close $3.00

The Solar and LED equipment maker said it signed a deal with Powertec Energy Corp to supply technology for production of 6,000 million metric ton annually (MTA) polysilicon for expansion of Powertec’s projects in Taiwan.

** THE EXONE COMPANY, Wednesday close $30.60, up 6 pct after market

The 3D printing company, which went public in February, reported higher fourth-quarter revenue on Wednesday, helped by a rise in demand for its new printer models.

** ARRAY BIOPHARMA INC, Wednesday close $4.98, down 5 pct after market

The biopharmaceutical company said it entered into a sales agreement with Cantor Fitzgerald for an at-the-marketing offering of up to $75 million of its common stock.

** PVH CORP, Wednesday close $112.79, down 5 pct after market

The clothing maker forecast 2013 profit well short of Wall Street estimates as it now expects its acquisition of Warnaco to drag on earnings this year due to the additional time needed to complete the integration.

** STEELCASE INC, Wednesday close $14.98, down 3 pct after market

The office furniture maker reported a quarterly loss due to charges from goodwill impairment and restructuring, and the company forecast first-quarter revenue below analysts’ expectations.

** GENWORTH FINANCIAL INC, Wednesday close $10.19, up 2 pct after market

The insurance provider will sell its wealth management and alternative investment businesses to private equity firms Aquiline Capital Partners and Genstar Capital for about $412.5 million as the insurer looks to raise funds to repay debt.

** GAMESTOP CORP, Wednesday close $26.45, up 1 pct after market

The world’s largest video game retailer, is expected to post lower revenue in its fourth quarter report. As the videogame industry copes with flagging sales, GameStop has relied on its strong used-games business, ahead of the launch of next generation versions of Microsoft’s Xbox and Sony’s PlayStation, due during the holiday season.

** MOSAIC CO, Wednesday close $58.68

The U.S. fertilizer producer reported a 26 percent rise in third-quarter profit, driven by higher potash and phosphate volumes.

** ACCENTURE PLC, Wednesday close $74.88

The outsourcing and consulting company is scheduled to report quarterly results. Its forecast for the quarter fell short of expectations in December, as clients continued to defer discretionary spending in Europe.

** A.P. PHARMA INC, Wednesday close $0.58 U.S. health regulators denied approval to A.P. Pharma’s drug for treating chemotherapy-induced nausea and vomiting, and asked for additional analysis of existing late-stage data on the drug.

** AMERICAN INTERNATIONAL GROUP, Wednesday close $38.25

The insurer whose government bailout was marked by controversy over executive salaries, on Wednesday said its board adopted a clawback policy to recover compensation in case of mistakes or wrongdoing.

** JPMORGAN CHASE & CO, Wednesday close $47.77

A federal judge on Wednesday said the company must face a lawsuit by a pension plan that accused it of mismanaging its money by investing in Lehman Brothers Holdings Inc notes before that bank filed for bankruptcy in 2008.

** CHESAPEAKE ENERGY CORP, Wednesday close $20.53

The oil and gas company’s search for a new chief executive to replace Aubrey McClendon is likely to extend beyond an April 1 deadline, according to a person familiar with the situation.

** BOEING CO, Wednesday close $86.20

The plane maker’s CEO Jim McNerney is expected to be questioned about the troubled 787 at an aviation conference hosted by the US Chamber of Commerce in Washington. CEOs from United, Jetblue and other airlines along with leaders in manufacturing and aviation are also expected to attend the event.

** CITIGROUP INC, Wednesday close $44.46

The company on Wednesday won the dismissal of a lawsuit by Woori Bank over losses from mortgage-related investments, the third such defeat in a U.S. court for a South Korean bank that had been put under state control following financial crises.

** EBAY INC, Wednesday close $52.07

The e-commerce company holds its first investor day since 2011, and CEO John Donahoe and other executives are expected to lay out the e-commerce company’s vision and guidance through 2015. Expectations are high because Donahoe has promised a lot and has beaten expectations since launching a turnaround of the company at the 2009 investor day.

** PANASONIC CORP, Wednesday close $7.52

The Japanese electronics company said it will apply for voluntary delisting of its American Depositary Shares from the New York Stock Exchange in early April, as its listing on the exchange is “not economically justified”.

“The trading volume of Panasonic’s ADSs on the NYSE accounts for only a small fraction of the total trading volume of Panasonic’s shares,” the company said in a statement.

Panasonic also said it will spend 250 billion yen ($2.7 billion) over the next two years on a fresh round of restructuring to revive the company, but did not indicate if that spending would cover any possible job cuts.

** PFIZER INC, Wednesday close $28.64

The drugmaker suffered a second rejection in two days from Britain’s health cost watchdog NICE as its new kidney cancer drug Inlyta was turned down for use on the state health service.

** ZILLOW INC, Wednesday close $54.70

At least two brokerages raised their price targets on the real estate website’s stock.

Canaccord Genuity analyst Michael Graham raised his price target on the stock to $60 from $45, saying 2013 should see continued growth momentum from an improving housing market and early benefits from brand advertising.

** METROPCS COMMUNICATIONS INC, Wednesday close $10.53

Influential proxy advisory firm ISS threw its weight behind opponents of MetroPCS Communications’s proposed merger with T-Mobile USA, saying the deal undervalued the company and shareholders should vote against it.

** RAIT FINANCIAL TRUST, Wednesday close $8.14, down 5 pct after market

The real estate investment trust said it is offering 7 million common shares, representing 11 percent of its outstanding stock. The company had about 60.7 million shares outstanding as of March 15.

** CHEVRON CORP, Wednesday close $120.19

The oil and gas producer said on Wednesday its executive pay would reflect certain incidents in 2012 as well as a financial performance that outpaced the U.S. oil company’s peer group. (Compiled by Garima Goel)

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