MARKET PULSE-Tri Pointe Homes, Canadian Solar, BlackBerry, Nokia
(For more market insights, including options activity, click on ; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning Call newsletter , click link.reuters.com/sum45t) U.S. stock index futures advanced on Monday, indicating the S&P 500 will continue to rise after four straight weeks of gains that have left the index at its latest record high. S&P 500 futures rose 4 points, Dow Jones industrial average futures gained 35 points and Nasdaq 100 futures added 12.75 points.
** TRI POINTE HOMES INC, Friday close $15.38, up 4 pct premarket
Weyerhaeuser Co is selling its homebuilding division to the company in a $2.7 billion deal that will leave Weyerhaeuser shareholders in control of one of the 10 largest homebuilders in the United States.
** CANADIAN SOLAR INC, Friday close $25.56, up 5.6 pct premarket
The Chinese solar panel maker said it expects to report a net profit for the third quarter due to strength in its power plants business. The company, which has reported a loss for eight consecutive quarters, expects to ship 460-480 megawatt (MW) in the third quarter, higher than its prior forecast of 410-430 MW. The company also raised its gross margin outlook to 18-20 percent from 10-12 percent.
** MORGANS HOTEL GROUP CO, Friday close $7.09, up 11.4 pct after market Continued...