MARKET PULSE-EBay, Valero Energy, Logitech, Netflix, Micron

Thu Jan 23, 2014 8:08am EST
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(For more market insights, including options activity, click on ; for the Day Ahead newsletter; for the Morning News Call newsletter, U.S. stock index futures fell on Thursday. Dow Jones industrial average futures were down 0.44 percent at 16,246, S&P 500 futures were down 0.28 percent at 1,833.5 and Nasdaq 100 futures were down 0.12 percent at 3,616.25.

** EBAY INC, Wednesday close $54.41, +1.91 pct premarket

Carl Icahn has taken a stake in the e-commerce giant and is proposing a spin-off of the its fast-growing PayPal division, but eBay rebuffed the overture, setting the stage for a potential battle with the activist investor.

** VALERO ENERGY CORP, Wednesday close $50.95, +3.24 pct premarket

The refiner estimated fourth-quarter earnings above analysts' estimates on Wednesday, citing wide crude price discounts and higher margin from its ethanol unit. Valero said profit was likely to be $1.60-$1.80 per share. Analysts on average were expecting 97 cents per share, according to Thomson Reuters I/B/E/S.

Macquarie analysts raised their price target on the stock to $69 from $65, after Valero's announcement.

The refiner also increased quarterly dividend to 25 cents per share from 22.5 cents. Valero is scheduled to report its quarterly results on Jan. 29.