February 4, 2014 / 2:22 PM / in 4 years

MARKET PULSE-Microsoft, Michael Kors, Google, J.C. Penney, Gap

(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 rose on Tuesday, as the market looked to regain its footing following the largest selloff in months. Dow Jones industrial average futures were up 0.48 percent at 15,365, S&P 500 futures were up 0.72 percent at 1,745.3 and Nasdaq 100 futures were up 0.54 percent at 3,448.5.

** MICROSOFT CORP, Monday close $36.48, +1.26 pct premarket

The company named Satya Nadella as its next chief executive on Tuesday, ending a longer-than-expected search for a new leader after Steve Ballmer announced his intention to retire in August.

** MICHAEL KORS HOLDINGS LTD, Monday close $76.67, +19.73 pct premarket

The retailer reported a better-than-expected rise in quarter results and raised its sales and profit forecast for the year as the demand for its trendy handbags, watches and accessories showed no sign of slowing.

** BOSTON SCIENTIFIC CORP, Monday close $13.01, +0.31 pct premarket

The company reported higher fourth-quarter earnings on stronger sales of its implantable devices that manage irregular heart rhythms.

** CISCO SYSTEMS INC, Monday close $21.55, +0.37 pct premarket

** GOOGLE INC, Monday close $1,133.43, +1.09 pct premarket

The two companies into a patent cross-licensing agreement with, the internet search giant’s second such deal in as many months. The cross-licensing agreement is an effective way to help prevent unnecessary patent lawsuits, the companies said in a statement.

** YUM BRANDS INC, Monday close $66.16, +5.05 pct premarket

The KFC parent reaffirmed on Monday its 2014 profit forecast amid worries about a resurgent bird flu in China, its top market for sales. Yum forecast earnings per share growth of at least 20 percent for 2014.

** J.C. PENNEY CO INC, Monday close $5.68, +4.40 pct premarket

The struggling retailer said comparable sales rose 2 percent during the holiday quarter, reporting its first three-month period of growth in two years. Chief Executive Myron Ullman said in a statement the struggling department store operator’s turnaround “is on track.”

** CLOROX CO, Monday close $86.36, -0.42 pct premarket

The company, known for its namesake bleach, posted a lower quarterly profit on Tuesday, hurt by rising commodity and manufacturing costs, and the company lowered its full-year sales and profit forecasts for the second quarter in a row.

** ARCH COAL INC, Monday close $4.01, -1.25 pct premarket

The U.S. coal miner reported a bigger-than-expected quarterly loss due to lower shipments and weak prices of both thermal and metallurgical coal.

** GAP INC, Monday close $37.25, +2.07 pct premarket

Brokerage UBS raised its rating on the teen apparel retailer’s stock to “buy” from “neutral,” citing increased square footage growth at its stores, strong e-commerce sales and good exposure to athletic apparel.

“We look for GPS to deliver 15 percent plus earnings per share growth over the next 3 years and potentially over $5 of EPS in 2017,” analyst Roxanne Meyer wrote in a note, raising her price target on the stock to $50 from $41.

** OCULUS INNOVATIVE SCIENCES INC, Monday close $3.19, +12.54 pct premarket

The drugmaker said it had received approvals to market two of its acne products in some European Union countries.

The topical drugs, Microcyn-based GramaDerm Solution and GramaDerm Hydrogel, are intended for use along with other acne treatments to treat mild to moderate acne.

** AGCO CORP, Monday close $52.65, -0.66 pct premarket

The farm machinery maker reported a 36 percent increase in quarterly profit as strong sales in Europe offset weakness in South America.

** CME GROUP INC, Monday close $73.18, -3.94 pct premarket

The company reported higher quarterly earnings on Tuesday as the exchange operator’s average daily trading volume rose 11 percent from a year earlier. The quarterly profit still fell short of analysts’ expectations amid a drop in the average fee paid per contract to CME, which owns the Chicago Board of Trade and Chicago Mercantile Exchange.

** REDHILL BIOPHARMA LTD, Monday close $13.4001, -2.84 pct premarket

The U.S. Food and Drug Administration rejected a migraine drug made by Israel’s RedHill Biopharma and Canada’s IntelGenx Corp.

** W.R. GRACE & CO, Monday close $92.28

The specialty chemicals maker said on Monday that it emerged from bankruptcy after more than 12 years.

Grace filed for Chapter 11 protection in 2001, making it one of the longest bankruptcies in U.S. history, after an asbestos leak at one of its mines led to a slew of lawsuits.

Also, the company’s board authorized on Tuesday a share buyback program of up to $500 million, expected to be completed over the next 12-24 months.

** BP PLC, Monday close $46.11, -0.56 pct premarket

The world’s fourth-biggest publicly traded oil company reported a sharp drop in fourth-quarter profits, partly due to weakness in its refining business, providing more evidence of difficult times across the “big oil” sector.

** WAL-MART STORES INC, Monday close $72.66, +0.34 pct premarket

The company said it would invest about $500 million this year to strengthen its presence in Canada, creating more than 7,500 jobs including construction.

** TWITTER INC, Monday close $65.25, +1.30 pct premarket

The company, whose stock has surged 150 percent since it went public in November, has a lot to live up to when it reports quarterly earnings for the first time on Wednesday. A growing number of naysayers warn that Twitter’s stock is greatly overpriced, and that even mediocre inaugural results could deflate its soaring valuation, now several times that of its closest social media peer, Facebook Inc.

** MCGRAW HILL FINANCIAL INC, Monday close $74.39

The owner of Standard & Poor’s reported a 9 percent drop in quarterly profit from continuing operations, hurt by lower revenue in its ratings business.

** BLACKROCK INC, Monday close $286.39, +2.31 pct premarket

The company’s iShares, the largest U.S. provider of exchange-traded funds, is launching a new set of currency-hedged ETFs on Tuesday as it looks to target investors interested in international equity exposure but concerned about potential losses from a rising U.S. dollar.

** FURIEX PHARMACEUTICALS INC, Monday close $45.97, +134.11 pct premarket

An experimental drug developed by the company met the main goal of a pair of large Phase III clinical trials by significantly alleviating diarrhea and abdominal pain associated with irritable bowel syndrome, the company said.

** ENTEGRIS INC, Monday close $10.28, +15.56 pct premarket

** ATMI INC, Monday close $26.93, +25.40 pct premarket

Entegris said it would buy ATMI, a provider of specialty semiconductor materials, for $1.15 billion, or $34 per share. Entegris’s offer represents a premium of 26 percent to ATMI’s closing price on the Nasdaq on Monday.

** ARCHER DANIELS MIDLAND CO, Monday close $38.91

The U.S. agricultural processor said fourth-quarter earnings fell 27 percent, largely due to charges relating to its failed acquisition of Australian grain handler GrainCorp.

** HCA HOLDINGS INC, Monday close $48.46, -0.12 pct premarket

The largest U.S. hospital operator said fourth-quarter earnings rose as it generated more revenue from patients despite a decline in admissions to its facilities.

** INTERNATIONAL PAPER CO, Monday close $46.06, -0.67 pct premarket

The largest North American producer of corrugated shipping boxes posted a lower-than-expected quarterly profit due in part to write-downs and pension costs.

** EATON CORP, Monday close $70.27, -2.42 pct premarket

The diversified manufacturer forecast 2014 operating earnings rising 9 percent to nearly 19 percent, just within Wall Street’s target, as fourth-quarter profit topped estimates.

** NICE SYSTEMS, Monday close $38.55

The Israel-based software provider said its board would meet on Tuesday to discuss a proposal to appoint Barak Eilam as its new chief executive. Eilam, currently president of Nice’s Americas region the past year and a half, would replace Zeevi Bregman, who has been CEO since September 2009.

** SIRIUS XM HOLDINGS INC, Monday close $3.55, -0.28 pct premarket

The satellite radio service reported a better-than-expected 12 percent rise in quarterly revenue as it added more self-paying subscribers - those who stay on after an initial promotional period.

** DELPHI AUTOMOTIVE PLC, Monday close $59.13

The company reported a stronger-than-expected quarterly profit on strong demand in its powertrain business, but the auto parts maker offered a forecast for the current quarter below Wall Street’s expectations.

** ASBURY AUTOMOTIVE GROUP INC, Monday close $45.42

The U.S. auto dealer posted a better-than-expected quarterly profit as an improving economy and easier availability of loans encouraged more Americans to buy cars.

** ARM HOLDINGS, Monday close $45.81, -6.79 pct premarket

The British chip designer said a slowdown in demand for Apple and Samsung smartphones was behind a smaller-than-expected rise in fourth-quarter royalty revenues.

** CENTENE CORP, Monday close $59.11

The health insurer reported a nearly six-fold rise in quarterly profit, helped by new contract wins and expansion of existing contracts.

** EMERSON ELECTRIC CO, Monday close $64.25

The company reported higher-than-expected first-quarter revenue, helped by robust demand from China.

** HOLOGIC INC, Monday close $20.47

The medical device maker reported a better-than-expected adjusted quarterly profit as it sold more 3D systems that help detect breast cancer, and its CEO said he would pursue the strategic review started by his predecessor.

** HARTFORD FINANCIAL SERVICES GROUP, Monday close $32.18, +2.36 pct premarket

The insurer’s quarterly profit exceeded average analyst estimate as the company benefited from lower disaster losses. Hartford also announced a new $2 billion share buyback plan.

** WHOLE FOODS MARKET INC, Monday close $52.23

** SAFEWAY INC, Monday close $30.06

Whole Foods Market, the largest U.S. natural and organic grocery chain, said it bought seven Dominick’s Finer Foods stores leases in Chicago from Safeway. The company said it expected to reopen the stores as Whole Foods Market stores in 2015.

** SILVER STANDARD RESOURCES, Monday close $7.69

** GOLDCORP INC, Monday close $24.75

** BARRICK GOLD, Monday close $19.3, -0.73 pct premarket

Silver Standard Resources said it would buy the Marigold mine in Nevada for $275 million in cash from joint owners Goldcorp and Barrick Gold in a deal that would provide the Canadian miner more exposure to gold.

** BOEING, Monday close $123.08, +0.06 pct premarket

A computer malfunction on the company’s 787 Dreamliner forced LOT to call off a transatlantic flight from Warsaw late on Monday and switch the passengers onto another jet instead, the Polish airline said.

** SPRINT CORP, Monday close $7.85

** T-MOBILE US INC, Monday close $29.53

Federal Communications Commission Chairman Tom Wheeler expressed his skepticism about a potential merger between Sprint and T-Mobile in a meeting with Sprint Chairman Masayoshi Son on Monday, according to an FCC official briefed on the matter.

** INTEL CORP, Monday close $23.95, +0.50 pct premarket

The company, wrestling with shrinking personal computer sales and struggling to expand into mobile devices, said on Monday that it was tightening its compensation policy to make senior executives more accountable.

** LIBERTY GLOBAL, Monday close $79.03

** DISCOVERY COMMUNICATIONS, Monday close $78.04

Liberty Global and Discovery Communications have made a joint approach to CVC Capital about buying a 49 percent stake in Formula One, the Telegraph reported, without citing sources.

** TARGET CORP, Monday close $55.41

The retailer, which suffered a massive data breach during the U.S. holiday shopping season, is speeding up a $100 million program to implement the use of chip-enabled smart cards to protect against cyber theft, a senior company executive said.

** DEXCOM INC, Monday close $38.98, +8.00 pct premarket

The medical device maker said the U.S. Food and Drug Administration had approved its glucose-monitoring system for use in diabetic children aged between two and 17 years.

Already approved for adults, the device, Dexcom G4 PLATINUM (Pediatric), is now the only such system approved for children as young as two years old, the company said.

** FIDELITY NATIONAL INFORMATION SERVICES, Monday close $48.87

The banking and payments technology provider said its board had authorized a new share repurchase program of up to $2 billion, effective through Dec. 31, 2017.

The new program replaces the previous $1 billion program under which about $174 million is outstanding.

The company also reported a 13 percent rise in its fourth-quarter profit.

** SUNCOR ENERGY INC, Monday close $32.07

The Canadian company said on Monday it swung to a fourth-quarter profit of C$443 million ($400 million) as crude output from oil sands projects in northern Alberta hit record highs.

** MARRIOTT INTERNATIONAL, Monday close $47.47

** STARWOOD HOTELS AND RESORTS, Monday close $72.16

** INTERCONTINENTAL HOTELS GROUP, Monday close $31.92

A credit card data breach has been detected that exposed guests at certain Marriott, Holiday Inn, Sheraton and other hotel properties to theft, hotel management firm White Lodging Services Corp said on Monday.

** DISH NETWORK CORP, Monday close $54.6

An investment vehicle owned by the company’s Chairman Charles Ergen is joining an existing lender group to extend $33 million in financing to bankrupt wireless company LightSquared, court filings show.

** BANK OF AMERICA MERRILL LYNCH, Monday close $16.35, +0.61 pct premarket

The bank is raising salaries for some of its senior bankers by about 20 percent, a person familiar with the matter said on Monday, to get around a new European Union cap on pay.

** ANADARKO PETROLEUM CORP, Monday close $78.17

The company reported on Monday a wide quarterly loss on hefty provisions for divestitures and legal wrangling over the Tronox case - warning that potential damages stemming from the litigation may rise.

** EDWARDS LIFESCIENCES CORP, Monday close $64.17

The medical device maker said on Monday that fourth-quarter net earnings declined due to restructuring charges and costs for launching its next-generation replacement heart valves.

** CEPHEID, Monday close $49.88, -5.00 pct after market

The medical device maker said it planned to offer $250 million of convertible senior notes due 2021.

The interest rate, conversion rate, offering price and other terms will be determined through talks between Cepheid and the initial purchasers, the company said.

** HALOZYME THERAPEUTICS INC, Monday close $14.735, -5.00 pct after market

The drugmaker said it commenced a public offering of $100 million of its common shares.

J.P. Morgan Securities and Citigroup were the joint book-running managers for the offering, the company said.

** POLYCOM INC, Monday close $11.72, +2.30 pct premarket

Activist investor George Soros reported a 6.95 percent passive stake in the videoconferencing company as of Jan. 24. (r.reuters.com/jez56v)

** SUPERIOR ENERGY SERVICES INC, Monday close $23.16, +7.40 pct after market

A vice president of the oilfield services company sold more than 3,100 shares at a 2 percent premium to the stock’s Monday closing price, Superior Energy said in a regulatory filing.

** WESTELL TECHNOLOGIES INC, Monday close $3.65, +9.32 pct premarket

The company, which provides equipment for telecom service providers, reported a better-than-expected profit for the third quarter on Monday, helped by strong demand for its wireless products. (Compiled by Natalie Grover in Bangalore; Editing by Kirti Pandey)

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