April 26, 2013 / 1:07 PM / in 4 years

MARKET PULSE-Boeing, Avanair, LDK Solar, Amazon, Starbucks

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April 26 (Reuters) - Some U.S. stocks to watch on Friday:

FUTURES EXTEND DECLINES AFTER GDP DATA

Index futures extended declines after data showed gross domestic product expanded at a slower-than-expected rate in the first quarter. S&P 500 futures fell 4.7 points. Dow Jones industrial average futures lost 43 points and Nasdaq 100 futures dropped 9.75 points.

** PFIZER INC, Thursday close $30.26, down 3 pct premarket

European regulators declined to approve marketing of Pfizer’s new rheumatoid arthritis treatment Xeljanz, citing the risks of the drug compared with its potential benefit, the company said on Thursday.

** APPLE INC, Thursday close $408.38, down 0.3 pct premarket

Samsung Electronics Co Ltd grabbed more smartphone market share from arch rival Apple in the latest quarter, with sales of its phones jumping to account for one third of the global market, research firm IDC said.

** BOEING CO, Friday close $91.67, up 1 pct premarket

BB&T Capital Markets upgraded Boeing shares to “buy,” citing the aerospace company’s better-than-expected earnings and the news that the U.S. Federal Aviation Administration approved the company’s new lithium-ion battery system for the 787 Dreamliner, grounded since mid-January.

Japan Airlines Co Ltd said it aims to return the Dreamliners to commercial flights in June.

** CHEVRON CORP, Thursday close $118.51, up 0.4 pct premarket

The second-largest U.S. oil company posted a 4.5 percent decline in quarterly profit on Friday, pinched by weaker oil prices and work at its U.S. refineries.

** AMAZON.COM INC, Thursday close $274.70, down 2.8 pct premarket

Revenue growth slowed in the first quarter as the world’s largest Internet retailer struggled overseas, but margins jumped on lower shipping expenses and the expansion of more profitable new businesses.

** STARBUCKS CORP, Thursday close $60.50, down 2 pct premarket

It reported higher quarterly profit on Thursday that matched Wall Street estimates and it raised its full-year earnings forecast. But revenue was slightly below analysts’ estimates.

** ABBVIE INC, Thursday close $44.24

AbbVie, the pharmaceuticals business spun off in January by Abbott Laboratories, reported slightly better than expected quarterly results, fueled by surging sales of its Humira treatment for rheumatoid arthritis.

** WEYERHAEUSER CO, Thursday close $31.38, up 1.8 pct premarket

The forest products company reported a first-quarter net profit that more than tripled due to a recovery in the U.S. housing market, and said it expects higher volumes for all its wood products for the current quarter.

** THERAVANCE, Thursday close $30.92, up 5 pct pre market

The company plans to split into two publicly traded U.S. companies, separating some of its most advanced respiratory drugs under development with GlaxoSmithKline Plc from its other biopharmaceutical operations.

** USG CORP, Thursday close $26.20, down 1 pct premarket

RBC Capital Markets cut its rating on the building products maker’s stock to “outperform” from “top pick,” and said though it continues to have a favorable view of the company’s high-margin ceiling grid business, demand would remain choppy.

** D.R. HORTON INC, Thursday close $24.53, up 6 pct premarket

** LENNAR CORP, Thursday close $41.93, up 3 pct premarket

D.R. Horton, the No.1 U.S. home builder reported a 173 percent jump in quarterly profit and said the spring selling season was off to a strong start. Record-low interest rates and rising rents have prompted Americans to buy homes, leading to shortage of new houses.

Homebuilder Lennar’s stock was also up on the news.

** PULTEGROUP INC, Thursday close $20.79, up 1.3 pct premarket

The No. 2 U.S. homebuilder reported a better-than-expected quarterly profit on Thursday as its strategy of selling fewer homes at higher prices paid off. [ID;nL3N0DC8SL]

** CIRRUS LOGIC INC, Thursday close $19.62, down 3 pct premarket

The audio chipmaker on Thursday reported fourth-quarter results above analysts’ expectations, but brokerage Needham & Company cut its target price on the company’s stock, citing lower revenue from Apple than “previously anticipated.”

** SIMON PROPERTY GROUP, Thursday close $176.01

The biggest U.S. owner of malls and outlet centers said a key earnings measure rose 14.4 percent in the first quarter, helped by higher rents and sales at its malls and outlet centers, prompting the company to raise its forecast for the year.

** LAZARD LTD, Thursday close $33.16

The investment bank reported a 40 percent fall in first-quarter profit, earning less from its financial advisory business in a subdued merger and acquisitions market.

** TRANSCANADA CORP , Thursday close $48.74

Canada’s largest pipeline company reported a 27 percent rise in first-quarter profit, and said it now expects its Keystone XL pipeline to be in service in the second half of 2015.

** BAIDU INC, Thursday close $92.34, down 9 pct premarket

China’s largest search engine will increase marketing expenditures for the rest of the year to counter competition from rival Qihoo 360 Technology, which may further put the brakes on profit growth.

** COINSTAR INC, Thursday close $55.03, up 8.3 pct premarket

Coinstar raised its full-year adjusted profit forecast ON Thursday as it bets on a slate of movies scheduled to be released in the third quarter to boost its Redbox video rental business.

** PERKINELMER INC, Thursday close $34.47, down 11.5 pct premarket

The maker of scientific instruments, diagnostic equipment and environmental safety monitoring products on Thursday reported lower-than-expected first-quarter profit and decreased its full-year forecast as difficult economic conditions and a stronger dollar hurt sales in Europe and Japan.

** ECHO GLOBAL LOGISTICS INC, Thursday close $19.08, down 5 pct premarket

The logistics company cut its 2013 earnings forecast to between 78 and 84 cents per share from between 82 and 90 cents, and lowered its revenue outlook to $900 million to $940 million from $940 million to $980 million.

Analysts on average were expecting earnings of 85 cents per share on revenue of $960.6 million, according to Thomson Reuters I/B/E/S.

** J.C. PENNEY CO, Thursday close $15.24, up 8 pct premarket

Billionaire investor George Soros reported a 7.9 percent passive stake in the struggling department store chain on Thursday.

** FREESCALE SEMICONDUCTOR LTD, Thursday close $14.55, up 8 pct after market

The chipmaker reported a much smaller-than-expected first-quarter loss and forecast upbeat second-quarter revenue, as demand from its Chinese customers improved.

** EXPEDIA INC, Thursday close $64.97, down 4.6 pct premarket

The online travel agency reported a higher-than-expected first-quarter adjusted profit, but warned of a lower full-year profit from its discount travel website Hotwire due to higher car rental rates and increased competition.

** MICROS SYSTEMS INC, Thursday close $43.52, down 6.9 pct premarket

The company, which makes data management systems for retailers and hotel chains, reported much weaker-than-expected third-quarter results, as hardware sales grew a lacklustre 2 percent and software sales declined. Micros also cut its full-year outlook.

** VERISIGN INC, Thursday close $46.10, up 3 pct after market

The issue of .com and .net Internet domains names reported a better-than expected quarterly profit as revenue rose 15 percent. Excluding items, the company earned 58 cents per share, on revenue of $236 million. Analysts expected an adjusted profit of 54 cents per share and revenue of 232.6 million, according to Thomson Reuters I/B/E/S.

** LDK SOLAR CO LTD, Thursday close $1.28, down 3 pct premarket

The indebted Chinese solar panel maker on Friday said it would sell 25 million shares to Fulai Investments Ltd for about $26 million to fund its operations. Fulai will pay $1.03 per share, a discount of about 20 percent to LDK’s Thursday close on the New York Stock Exchange.

** INTERNATIONAL GAME TECHNOLOGY, Thursday close $17.30, up 2.3 pct premarket

The slot-games maker on Thursday reported better-than-expected second-quarter results on higher revenue from its social gaming business, which more than doubled from a year earlier. The company, whose stock touched a year-high yesterday, also raised its full-year 2013 forecast for adjusted profit, prompting J.P. Morgan and another brokerage to raise their target price on the company’s stock.

** ALTERA CORP, Thursday close $32.93, down 2.2 pct after market

The programmable chipmaker posted revenue slightly below expectations in the first quarter and said it was beginning to see a recovery from a dip in demand from its communications and industrial customers.

** SYNAPTICS INC, Thursday close $38.54, up 18 pct premarket

The touchscreen chipmaker forecast current-quarter results far above analysts’ estimates on Thursday and confirmed that it had won contracts from Samsung Electronics Co Ltd for its Galaxy S4 smartphone and Note 8 tablet.

** LOGMEIN INC, Thursday close $17.86, up 20.4 pct premarket

The maker of remote-access software posted better-than-expected quarterly results as it won a record 37,000 paying subscribers, and the company forecast second-quarter revenue above analysts’ estimates.

** INFORMATICA CORP, Thursday close $32.31, up 9 pct after market

** QLIK TECHNOLOGIES INC, Thursday close $23.85, up 11.1 pct premarket

The business software makers reported better-than-expected quarterly revenue and raised their full-year revenue forecasts as enterprises spent more on integrating and analyzing data.

** CURIS INC, Thursday close $3.41, up 8 pct premarket

** VIVUS INC, Thursday close $12.43, up 1 pct premarket

** AVANIR PHARMACEUTICALS INC, Thursday close $3.20, up 15 pct premarket

European health regulators on Thursday recommended approval of Roche Holdings AG’s drug Erivedge to treat people with advanced forms of basal cell carcinoma, the most common skin cancer. Curis is Roche’s partner on the drug and is entitled to certain payments from it.

The European Medicines Agency experts also backed Avanir’s Nuedexta to treat a neurologic disorder called pseudobulbar effect, and Vivus’s erectile dysfunction drug Spedra.

** KLA-TENCOR CORP, Thursday close $55.90, down 5 pct after market

The chip equipment maker reported lower quarterly results on Thursday and said its outlook for the rest of the year has weakened due to manufacturers’ concerns about the global economy.

** HOMEX DEVELOPMENT CORP , Thursday close $7.02, down 17.8 pct premarket

The Mexican homebuilder’s first-quarter profit and revenue fell sharply as it struggled with slowing home sales and a rising debt load, the company said on Thursday.

** H&R BLOCK INC, Thursday close $28.03, down 3 pct premarket

The tax preparer said its share of tax returns prepared so far this year has remained essentially flat, compared with a year earlier, sending its stock down 9 percent after the bell.

** FIRST MAJESTIC SILVER CORP , $12.62, up 1.4 pct premarket (0810 ET)

The supreme court of British Columbia ruled in favor of the company which took a case against Hector Davila, the former top executive of First Silver Reserve Inc (FSR), the company’s wholly-owned subsidiary, for violating his fiduciary duty to FSR.

The company, which commenced the litigation in November 2007, alleged that while Davila held his positions at FSR he acquired the Bolanos Mine from Grupo Mexico through Minera Arroyo, for his own personal interest.

** MOLINA HEALTHCARE INC, Thursday close $33.23, down 0.7 pct premarket

The health insurer reported a first-quarter profit that was much above analysts’ estimates, helped by a rate increase as its California health plan and better performance at the Florida, Texas, Ohio and Wisconsin health plans, among others.

** DECKERS OUTDOOR CORP, Thursday close $59.4, down 3.4 pct premarket

The shoe maker, known for its UGG boots, on Thursday forecast a current quarter loss of about $1.10 per share. Analysts on average were expecting a loss of 96 cents per share, according to Thomson Reuters I/B/E/S.

Both Canaccord Genuity and ISI Group said investors were disappointed with the unexpected increase in first-quarter inventories and the second-quarter guidance. (Compiled by Sruthi Ramakrishnan in Bangalore; Editing by Joyjeet Das)

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