7 Min Read
(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stock index futures were slightly higher on Wednesday. Dow Jones industrial average futures were up 0.23 percent at 16,336, S&P 500 futures were up 0.17 percent at 1,836 and Nasdaq 100 futures were up 0.35 percent at 3,586.25.
** BANK OF AMERICA CORP, Tuesday close $16.77, +3.04 pct premarket
The second-largest U.S. bank reported a stronger-than-expected quarterly profit, driven by a steep fall in mortgage losses and provisions to cover bad loans.
** GENERAL MOTORS CO, Tuesday close $40.02, -0.95 pct premarket
The No. 1 U.S. automaker's new executive team expects a slight uptick in pretax profits this year, but said margins likely will remain flat until 2015. A new management team led by Chief Executive Mary Barra and President Dan Ammann took the reins Wednesday, issuing a cautious outlook for the year ahead at a Deutsche Bank auto analyst conference.
will pay the first quarterly dividend on its common stock in almost six years, marking another step in the U.S. auto maker's recovery from its bankruptcy in 2009 and sending shares up 3.2 percent in after-hours trading.
** EXONE CO, Tuesday close $62.26, -12.82 pct premarket
Brokerage Janney Capital Markets cut its price target on the 3D printer maker's stock to $68 from $75 due to a delay in shipping of printers to customers in Russia, France, Mexico and India. Janney also lowered its revenue estimates for ExOne.
** HANWHA SOLARONE CO LTD, Tuesday close $3.14, +7.96 pct premarket
The solar panel maker said it plans to set up a venture with Shanghai HuiTianRan Investment Holding Group to develop solar power plants in China. HuiTianRan will use panels manufactured by Hanwha SolarOne in its 700 megawatts (MW) of projects or select Hanwha SolarOne to provide engineering, procurement and construction services for these projects, Hanwha SolarOne said in a statement.
** AEROPOSTALE INC, Tuesday close $7.73, +7.37 pct premarket
The apparel retailer under pressure from investors to sell itself reached out to at least two private equity firms as it explores strategic options, Bloomberg said on Tuesday, citing sources.
** JINKOSOLAR HOLDING CO LTD, Tuesday close $36.25, -3.17 pct premarket
The Chinese solar panel maker said late on Tuesday it would offer 2.75 million of its American Depository Shares and up to $100 million in convertible senior notes due 2019.
** MAGNA INTERNATIONAL INC , Tuesday close $84.18, -2.00 pct premarket
The Canadian auto parts maker forecast 2014 sales below analysts' expectations due to lower revenue in its complete vehicle assembly business.
** LINEAR TECHNOLOGY CORP, $45.19, +1.02 pct premarket
The semiconductor company raised its quarterly dividend to 27 cents per share from 26 cents, and said it expects revenue in the third quarter to rise 3 to 6 percent from the second quarter. B. Riley raised its price target on the stock to $44 from $38.
** DATALINK CORP, Tuesday close $16.18, +0.43 pct premarket
The company, which manages servers and networks, raised its fourth-quarter adjusted earnings forecast on Tuesday. It now expects adjusted earnings of 33-37 cents per share, up from 24-30 cents it had forecast earlier. The company also raised its revenue forecast to about $174 million, up from its earlier range of $160-$170 million.
** NETFLIX INC, Tuesday close $337.96, -0.88 pct premarket
** AMAZON.COM INC, Tuesday close $397.54, +0.59 pct premarket
** COMCAST CORP, Tuesday close $52.81, +1.65 pct premarket
** VERIZON COMMUNICATIONS INC, Tuesday close $47.08, +0.30 pct premarket
A U.S. appeals court on Tuesday rejected federal rules that required Internet providers to treat all web traffic equally, a decision that could allow mobile carriers and other broadband providers to charge content providers for faster access to websites and services.
** INTEL CORP, Tuesday close $26.51, +0.91 pct premarket
The chipmaker, hit by slumping personal computer sales, has put off opening a major chip factory that President Barack Obama once held up as an example of U.S. manufacturing potential.
** MONDELEZ INTERNATIONAL INC, Tuesday close $35.4
Demand for chocolate is picking up, boosted by strong sales of gourmet products, the world's biggest supplier to the industry said on Wednesday, as it blamed capacity constraints and a lull in outsourcing deals for slower growth in its sales volumes. Barry Callebaut, which makes chocolate for the likes of Nestle and Mondelez, said consumers in the Americas in particular were flocking to premium chocolates.
** ELBIT SYSTEMS, Tuesday close $61.46
The Israeli defense electronics company said it won a contract from the Ministry of Defense worth about $15 million to upgrade the Israeli air force's C-130H Hercules transport aircraft. The contract will be carried out over two years, Elbit said in a statement.
** ENERSIS SA , Tuesday close $14.86, +6.73 pct after market
The Chilean energy company plans to offer to buy the shares of its Brazilian unit, Companhia Energetica do Ceara COCE5.SA, it does not already own in a deal it said would be worth around $645 million.
** HEARTWARE INTERNATIONAL INC Tuesday close $103.25, -8.09 pct after market
The medical device maker said it expected to report fourth-quarter revenue of about $53 million, below estimate of $58 million, according to Thomson Reuters I/B/E/S. Heartware, which makes implantable heart pumps, also said revenue would grow 87 percent to $208 million in 2013. Analysts were expecting $213.3 million.
** VISTEON CORP, Tuesday close $87.61
The auto parts maker said it expected 2014 revenue of $7.8 billion, lower than average analyst estimate of $8.1 billion.
** REX ENERGY CORP, Tuesday close$17.82
The oil and gas producer said output this year could be 143-149 million cubic feet equivalent (mmcfe) per day, higher than 92.7 mmcfe per day it produced in 2013. Rex Energy also increased its capital budget for 2014 from a year earlier. Fourth-quarter production at the company rose 49 percent to 110.4 mmcfe per day, said Rex Energy, which is scheduled to report fourth-quarter results on Feb. 19. (Compiled by Varun Aggarwal in Bangalore; Edited by Don Sebastian)