Sept. 9 (Reuters) - Some U.S. stocks to watch on Monday:
U.S. stock index futures advanced in the wake of upbeat economic data from China, though concerns remained about a potential strike against Syria. S&P 500 futures rose 3.3 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 25 points, and Nasdaq 100 futures added 11.75 points.
** APPLE INC, Friday close $498.22, up 1.2 pct premarket
Brokerage FBN Securities raised its price target on the company’s stock to $600 from $575 in anticipation of Apple making an announcement of its iPhone 5S and iPhone 5C on Tuesday. The brokerage said it expected the phones to start shipping on Sept. 20. FBN sees the iPhone 5C as an opportunity for Apple to be successful in China.
** ONCOLYTICS BIOTECH INC, Friday close $2.65, up 17 pct premarket
The company said its cancer drug, Reolysin, reduced the size of tumors in 92 percent of lung cancer patients in a mid-stage trial.
** BIODEL INC, Friday close $5.03, up 12 pct premarket
The pharmaceutical company said on Sunday that preliminary data showed its fast-acting regular human insulin BIOD-123 met its goal in a mid-stage trial.
** ISIS PHARMACEUTICALS INC, Friday close $27.92, up 7 pct premarket
Biogen Idec Inc has agreed to pay another $100 million upfront to the drugmaker as a part of a broad collaboration to develop new medicines for neurological disorders, the companies said.
** BLACKBERRY LTD, Friday close $10.84, up 4.3 pct premarket
The company's largest shareholder, Prem Watsa, has assembled billions in backing from Canada's biggest pension funds for a bid, The Sunday Times reported on Sunday. (link.reuters.com/caz82v)
Watsa is the founder and chairman of Fairfax Financial Holdings Ltd that holds about 10 percent stake in the company.
** SMITHFIELD FOODS INC, Friday close $33.92, up 2 pct after market
The U.S. Committee on Foreign Investment has cleared the way for Shuanghui International Holdings Ltd’s proposed $4.7 billion acquisition of Smithfield Foods, the companies said.
** JOHNSON & JOHNSON, Friday close $87.16, up 1 pct premarket
The company has launched a sale process for its Ortho Clinical Diagnostics unit, which makes blood screening equipment and laboratory blood tests and could fetch around $5 billion. J&J has asked JPMorgan Chase & Co to run the sale and is preparing to send detailed financial information in coming weeks to potential buyers.
** VODAFONE PLC, Friday close $32.89
The company may fail to reach the 75 percent threshold of acceptances from shareholders needed to clinch Germany’s largest cable operator Kabel Deutschland, the Financial Times said. Vodafone agreed a 7.7 billion euro ($10.13 billion) offer for Kabel Deutschland in June, a near 40 percent premium to Kabel’s share price before its interest first emerged.
** SONY CORP, Friday close $21.02, down 2 pct after market
The electronics maker announced the Japanese release of its PlayStation 4 on Monday as the company braces for a gaming console war with Microsoft Corp that could make or break the Japanese firm’s struggle to return to profit.
** GLAXOSMITHKLINE PLC, Friday close $51.67
Japan’s Suntory Beverage & Food Ltd is to buy GlaxoSmithKline’s Lucozade and Ribena brands for 1.35 billion pounds ($2.11 billion) to expand into new markets.
** GOOGLE INC, Friday close $879.58
The U.S. government tapped into computer networks of companies including Google and Brazilian state-run oil firm Petroleo Brasileiro SA, according to leaked U.S. documents aired by Globo, Brazil’s biggest television network.
** TIME WARNER INC, Friday close $61.45
The entertainment company is planning to transfer its U.S. retirees from company-sponsored health plans and move them to private insurance exchanges. According to an August memo obtained by Reuters, the media company will make allocations to a Health Reimbursement Arrangement account for retirees to use towards the purchase of coverage on an exchange. Previously, Time Warner provided an indirect subsidy through a supplementary Medicare program. (Compiled by Varun Aggarwal; Editing by Kirti Pandey)