April 29, 2014 / 1:23 PM / in 3 years

MARKET PULSE-Merck, Amicus, Gogo, Novavax, Cirrus Logic, 3D Systems

(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)

Wall Street was set for a higher open on Tuesday following a batch of earnings that were better than expected. Dow Jones industrial average futures were up 0.29 percent at 16,444, S&P 500 futures were up 0.27 percent at 1,871 and Nasdaq 100 futures were up 0.20 percent at 3,548.

** MERCK & CO, Monday close $56.68, +1.06 pct premarket

Britain’s Reckitt Benckiser Group Plc confirmed on Monday it was in talks to buy the U.S. drugmaker’s consumer health business, the latest asset up for grabs in a wave of recent pharmaceutical deals.

Merck on Tuesday reported better-than-expected quarterly earnings, helped by sharply lower research spending and asset sales, but revenue came in slightly below expectations.

** BRISTOL-MYERS SQUIBB CO, Monday close $50.36, -0.42 pct premarket

The U.S. drugmaker reported higher-than-expected quarterly earnings, helped by cost cuts, but sales fell short of Wall Street expectations.

** AMICUS THERAPEUTICS INC, Monday close $1.84, +25.00 pct premarket

The company said its lead drug was effective in treating patients with an inherited disease that leads to the accumulation of fat in body cells.

** NOVAVAX INC, Monday close $3.94, +8.63 pct premarket

The biotechnology company said multiple formulations of its experimental RSV vaccine were shown to be safe and elicited a favorable immune response in a mid-stage study with 720 women of childbearing age.

Respiratory syncytial virus (RSV) is a respiratory pathogen that afflicts all humans regardless of age and disproportionately affects infants below six months of age.

** MICROSOFT CORP, Monday close $40.87, +0.51 pct premarket

The world’s largest software company said it would increase its cloud storage offering for business users by 40-fold, as it makes a case for businesses buying an all-in-one product from itself rather than buying technology “piecemeal” from multiple sellers.

** CIRRUS LOGIC INC, Monday close $22.01, +4.50 pct premarket

The U.S. chip maker has agreed a deal to buy British microchip maker Wolfson Microelectronics for 291 million pounds ($489 million) to boost its audio division, the two firms said on Tuesday.

($1 = 0.5950 British Pounds)

** 3D SYSTEMS CORP, Monday close, $49.26, -5.60 pct premarket

The largest listed 3D printer maker said most of the revenue and profit it expects for 2014 would be generated only in the second half of the year when it launches new products and services.

** BIOTA PHARMACEUTICALS INC, Monday close $5.57, -20.11 pct premarket

The company said a U.S. agency has asked it to stop developing its experimental influenza drug, pending a decision related to the company’s contract with the agency.

** MGM RESORTS INTERNATIONAL, Monday close $23.02, +3.61 pct premarket

The casino operator reported better-than-expected first-quarter sales, as casino gambling revenue rose 13 percent due to higher VIP table turnover at MGM China.

** VALERO ENERGY CORP, $57.97, +1.78 pct premarket

The largest U.S. independent refining company reported a 27 percent increase in quarterly profit, helped by higher margins for crude refining in the U.S. Gulf Coast and ethanol production.

** CUMMINS INC, Monday close $145.2, +3.99 pct premarket

The company posted results that topped analysts expectations and raised its full-year forecast as strong demand for its engines and vehicle components in North America offset weakness in many other parts of the world.

** GOODYEAR TIRE & RUBBER CO, Monday close $27.21, -4.85 pct premarket

The company reported a quarterly loss compared with a profit a year earlier as it booked a one-time charge related to a drop in the value of the Venezuelan bolivar.

** ALLIANT TECHSYSTEMS INC, Monday close $138.82, +6.61 pct premarket

** ORBITAL SCIENCES CORP, $26.57, +27.63 pct premarket

Alliant Techsystems, the world’s largest ammunition maker, said it would merge with Orbital Sciences after spinning off its sporting gun business.

** COACH INC, Monday close $50.42, -9.76 pct premarket

The upscale leather goods maker reported a sharp drop in North American sales on Tuesday as the upscale leather goods maker continued to lose ground to fast-growing rivals in the U.S. handbags market.

** HERBALIFE LTD, Monday close $58.85, +1.95 pct premarket

The weight-loss and nutritional products maker on Monday reported a 9 percent rise in first-quarter global sales volumes and said it was suspending its quarterly dividend to use the cash to repurchase additional shares.

** EATON CORP, Monday close $74.5, -0.67 pct premarket

The diversified manufacturer posted a rise in first-quarter profit that just topped analysts’ estimates on Tuesday, helped by lower-than-expected costs, but forecast second-quarter earnings that appeared to lag Wall Street’s target.

** ARCHER DANIELS MIDLAND CO, Monday close $44.38, -0.70 pct premarket

The agribusiness company on Tuesday said quarterly earnings slipped as a cold U.S. winter drove up costs for grain merchandising and handling.

** SPRINT CORP, Monday close $11.22, +1.16 pct premarket

The No. 3 U.S. mobile provider on Tuesday reported an increase in quarterly revenue in line with analysts’ expectations, due to a new billing plan that lowered wireless expenses.

** FLAMEL TECHNOLOGIES, Monday close $13.1, -14.43 pct premarket

The specialty pharmaceutical company said the U.S. Food and Drug Administration denied approval to one of its experimental drugs, citing deficiencies at the manufacturing facility of the company’s pharmaceutical ingredient supplier. Flamel said it would work with the supplier to resolve the issues, but did not offer details on the product or say when it would resubmit the marketing application.

** CONTAINER STORE GROUP INC, Monday close $29.87, -9.44 pct premarket

At least two brokerages cut their price targets on the storage products retailer’s stock after the company reported a much lower-than-expected quarterly profit on Monday, hurt by an unusually severe winter in the United States that limited customer visits and led to store closures.

** ULTRA CLEAN HOLDINGS INC, Monday close $11.81, -19.98 pct premarket

The chip equipment maker’s first-quarter profit missed analysts’ average estimate due to lower-than-expected gross margins.

The company also forecast second-quarter profit of 15-18 cents per share on revenue of $128-$133 million. Analysts expect a profit of 26 cents per share on revenue of $132 million, according to Thomson Reuters I/B/E/S.

** AMERICAN REALTY CAPITAL PROPERTIES INC, Monday close $12.62, +3.33 pct premarket

** NORTHSTAR REALTY FINANCE CORP, Monday close $17.2, -8.02 pct premarket

American Realty Capital Properties and NorthStar Realty Finance said they were not currently in merger talks, a day after reports that American Realty was looking to buy the real estate financing company.

** SPIRIT AIRLINES INC, Monday close $58.43, +0.56 pct premarket

The low-cost carrier on Tuesday reported a higher profit for the first quarter as it added flights.

** CONSOL ENERGY INC, Monday close $41.95, +3.86 pct premarket

The company posted a first-quarter profit, compared with a year-earlier loss, mainly due to a 59 percent jump in sales of natural gas and liquids.

** AMKOR TECHNOLOGY INC, Monday close $7.07, +5.23 pct premarket

The provider of semiconductor assembling and testing services on Monday reported first-quarter results that beat expectations, helped by higher demand from mobile clients and customer additions. The company also forecast current quarter revenue and profit largely above analysts’ average estimate.

At least two brokerages raised their price targets on the company’s stock on Tuesday.

** GOGO INC, Monday close $18.3787, -15.77 pct premarket

AT&T Inc and Honeywell International Inc are teaming up to offer high-speed, in-flight Internet in the United States, the companies said on Monday, challenging industry leader Gogo Inc.

** BUFFALO WILD WINGS INC, Monday close $133.39, +4.73 pct premarket

The restaurant chain reported a much better-than-expected first-quarter profit, helped by “significantly” lower chicken wing prices and a 6.6 percent jump in same-store sales.

The company also forecast a 25 percent rise in net earnings in 2014.

** ENCANA CORP, Monday close $22.76

Canada’s largest natural gas producer said it had agreed to sell about 90,000 net acres in east Texas for about $530 million to an undisclosed buyer, as part of a plan to cut its dependence on low-value natural gas.

** ALLERGAN INC, Monday close $166

Allergan, facing an unsolicited bid from Valeant Pharmaceuticals International Inc, is preparing to approach Shire Plc about a potential takeover, even though the Irish drugmaker rebuffed a previous overture, people familiar with the matter said on Monday.

** MONEYGRAM INTERNATIONAL INC, Monday close $13.5

The world’s second-largest money transfer company slashed its forecast for the year on fears of competition from Wal-Mart Stores Inc

** NOKIA, Monday close $7.03

The Finnish firm named the man who led a turnaround at its main telecoms network business as its new chief executive on Tuesday, boosting investors’ confidence in the future of the company following the sale of its once dominant handset arm.

The company, which completed the 5.6-billion-euro ($7.75 billion) deal to sell its mobile handset business to Microsoft on Friday, said Rajeev Suri would become its CEO on May 1, replacing Stephen Elop who is moving to Microsoft.

($1 = 0.7223 Euros)

** MCGRAW HILL FINANCIAL INC, Monday close $75.07

The owner of Standard & Poor reported a 62 percent rise in quarterly profit, driven mainly by its indices business and Platts, its energy and metals information provider.

** ROCKWELL AUTOMATION INC, Monday close $124.53

The maker of systems that help factories run smoothly reported a 2.5 percent rise in quarterly profit mainly due to higher sales of its motion control and industrial safety products in the United States.

** TRW AUTOMOTIVE HOLDINGS CORP, Monday close $81.39

The auto parts supplier reported better-than-expected quarterly results, driven by a 16 percent rise in sales in China, and the company also raised its full-year revenue forecast.

** ACTAVIS PLC, Monday close $196.9

The drugmaker said on Monday that it has sued the U.S. Food and Drug Administration, challenging its decision to award exclusive rights to Teva Pharmaceutical Industries Ltd to sell a generic version of Pfizer Inc’s blockbuster painkiller Celebrex.

** CIT GROUP INC, Monday close $46.26

The small business lender’s quarterly profit fell by a third as the small-business lender earned lower interest on loans.

** HUNTSMAN CORP, Monday close $24.65, +1.50 pct premarket

The U.S. chemicals maker reported a bigger-than-expected quarterly profit, helped by robust demand for its chemicals used in foam insulation, agriculture, energy and additives. (Compiled by Maria Ajit Thomas in Bangalore; Editing by Simon Jennings)

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