6 Min Read
(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s)
June 11 (Reuters) - Some U.S. stocks to watch on Tuesday:
U.S. stock index futures fell on Tuesday after Japan did not offer new measures to calm its bond market, disappointing U.S. investors who are also trying to gauge the future direction of central bank policy at home. S&P 500 futures fell 14.4 points, Dow Jones industrial average futures dropped 115 points, and Nasdaq 100 futures lost 25.5 points.
** DOLE FOOD CO INC, Monday close $10.20, up 16 pct premarket
Fruit and fresh vegetable distributor Dole Food Co Inc DOLE.N received an unsolicited buyout offer from Chief Executive David Murdock valuing the company at just over $1 billion.
** CORINTHIAN COLLEGES INC, Monday close $2.79, down 19 pct premarket
The U.S. education company said it received a subpoena from the Securities and Exchange Commission. The subpoena requested documents relating to student information in recruitment, attendance, placement, defaults on federal loans, the company said.
** MCEWEN MINING INC, Monday close $2.49, down 5.6 pct premarket
The gold miner lowered its annual production target to 225,000 gold equivalent ounces by 2016 from 290,000 gold equivalent ounces due to lower metal prices and higher cost of capital.
** KINROSS GOLD CORP, Monday close $6.32, down 4.4 pct premarket
Analysts at Canaccord Genuity cut their rating on the gold miner's stock to "hold" from "buy" after the company said it would not proceed with the development of the Fruta del Norte project in Ecuador.
** FREEPORT-MCMORAN, Monday close $30.88, down 1.8 pct premarket
An investigation into a tunnel collapse that killed 28 people at Freeport McMoRan Copper and Gold Inc's Indonesian mine has reached preliminary findings, the firm said on Tuesday, although the timing of any reopening of the copper mine remains unclear. Freeport suspended operations at the world's No.2 copper miner in West Papua on May 15, a day after a training area in a tunnel caved in on 38 workers.
** QUESTCOR PHARMACEUTICALS INC, Monday close $36.71, up 15.7 pct premarket
The company said it had acquired rights to Synacthen, a rival to its flagship multiple sclerosis drug Acthar, from Novartis AG and its U.S. arm, Novartis Pharma AG, for $60 million.
The agreement gives Questcor rights to the drug and its injection formulation in the United States and certain other countries. Synacthen has not yet been approved by the U.S. Food and Drug Administration.
Questcor also agreed to make additional milestone payments of about $75 million over the next several years.
** DIAMOND FOODS INC, Monday close $17.54, up 5 pct after market
The company said it will restate its consolidated financial statements for the three- and six-month periods ended Jan. 31 due to an error in calculation of diluted earnings per share.
** GENCORP INC, Monday close $14.76, up 3 pct premarket
The aerospace company has been given U.S. antitrust approval to buy rocket engine manufacturer Rocketdyne at the request of the Defense Department, the Federal Trade Commission said on Monday.
** TEXAS INSTRUMENTS, Monday close $36.62, down 1.6 pct after market
The company on Monday narrowed its forecast range for current-quarter revenue, bringing it in line with Wall Street estimates, as new semiconductor orders rose after a drop last year.
** CROSSTEX ENERGY LP, Monday close $21.09, down 4.5 pct after market
The pipeline company said it was offering 6 million units for sale and would use the proceeds to fund capital expenditure for already identified projects, including its Cajun-Sibon natural gas liquids pipeline expansion project.
** CARDIONET INC, Monday close $3.21, up 31 pct after market
The company said its heart-monitoring solutions will receive insurance coverage from UnitedHealthcare Insurance Co from July 1. CardioNet said the three-year agreement would apply to all of the insurer's affiliates including managed Medicare and Medicaid plans.
** LDK SOLAR CO LTD, Monday close $1.64
The Chinese solar panel maker is expected to report its eighth straight quarterly loss due to weak panel prices.
** LULULEMON ATHLETICA INC , Monday close $82.28, down 15 pct after market
The premium yogawear chain, its fortunes dented by an embarrassing and costly recall of excessively see-through pants, said on Monday that Chief Executive Christine Day will step down once it finds a replacement.
** CYS INVESTMENTS INC Monday close $10.23, up 3.6 pct after market
The company that invests in agency residential mortgage-backed securities (RMBS) on Monday raised its quarterly dividend to 34 cents from 32 cents.
** SPRINT NEXTEL CORP, Monday close $7.18, up 2.9 pct premarket
** DISH NETWORK CORP, Monday close $38.86
Japanese mobile operator SoftBank said it had agreed with Sprint to raise its offer for the U.S. wireless carrier to $21.6 billion from $20.1 billion, as it fights off a counter bid by Dish.
** FACEBOOK INC, Monday close $24.33, down 0.6 pct premarket
The social networking company will host its first annual shareholder meeting since becoming a public company last year. With facebook's stock still well below the offering price, investors will be looking for updates on near-term business prospects as well as on trends in user activity and engagement on its website.
** YUM BRANDS INC, Monday close $72.47
The fast-food restaurant operator reports China sales for May, which may show whether sales are rebounding now that avian flu infections are waning. (Compiled by Aditi Shrivastava; Editing by Sreejiraj Eluvangal)