8 Min Read
(Corrects Coca-Cola item to say the company will raise, not has raised, its stake in Keurig Green Mountain. The error also appeared in the previous versions of Market Pulse) U.S. stocks were little changed on Tuesday as investors found few reasons to keep pushing shares higher with major indexes coming off record closes and economic data painting a mixed picture of the economy. The Dow Jones industrial average was up 0.18 percent at 16,725.52, and the S&P 500 was up 0.16 percent at 1,899.59.
** PFIZER INC, $29.25, +0.41 pct
** ASTRAZENECA PLC, $78.65, +1.00 pct
U.S. drugmaker Pfizer hinted it could raise its proposed $106 billion offer if AstraZeneca would only engage in talks, as its boss was grilled by UK lawmakers on his commitment to British research spending and jobs.
In response, AstraZeneca said it would have to consider a compelling offer, but accused Pfizer of an "opportunistic" proposal with a ploy to cut taxes that risked its reputation.
** AT&T INC, $36.16, -1.12 pct
** DIRECTV, $88.71, +1.78 pct
AT&T is in active talks to buy satellite TV provider DirecTV and may complete a deal in the next few weeks that could be worth close to $50 billion, two people familiar with the matter said on Monday.
The second-largest wireless operator is discussing an offer in the low- to mid-$90s per share for DirecTV, one of the people said.
** VALEANT PHARMACEUTICALS INTERNATIONAL, $130.29, +0.10 pct
** ALLERGAN INC, $161.38, +1.04 pct
Valeant Pharmaceuticals said it planned to "improve" its $47 billion takeover offer for drugmaker Allergan, a day after the U.S. company rejected the bid. Canada's Valeant said it would make the change to its cash and stock offer at a May 28 webcast in which it would discuss details of its plans for Allergan's business.
** COCA-COLA CO, $41.08, +0.64 pct
** KEURIG GREEN MOUNTAIN INC, $121.04, +9.33 pct
Coca-Cola will raise its stake in Keurig Green Mountain to 16 percent from 10 percent, which will make it the largest shareholder of the maker of the popular Keurig one-cup coffee brewer.
** FUELCELL ENERGY INC, $2.12, +6.00 pct
** PLUG POWER INC, $4.1283, +5.85 pct
** BALLARD POWER SYSTEMS INC, $3.1001, +3.34 pct
FuelCell Energy, a developer of next-generation fuel cell power plants, said it would collaborate with Posco Energy Co Ltd to tap a global customer base.
FuelCell said it would sell four fuel cell modules totaling 5.6 megawatt to meet rising demand in Asia.
Plug Power, a fuel cell systems maker, reiterated its full-year sales forecast of $70 million, according to Benzinga. The company is scheduled to release its first-quarter results on Wednesday.
** INTERSECTIONS INC, $4.59, -18.04 pct
The company, which provides identity risk management services, reported a 19 percent fall in first-quarter revenue as it lost customers due to its exit from certain businesses.
Intersections' total subscribers fell to about 2.8 million as of March 31 from 4.2 million, a year earlier, the company said.
** INSYS THERAPEUTICS, $26.308, -4.78 pct
The drugmaker reported weaker-than-expected results for the first quarter, hurt by higher operating expenses.
** CYTORI THERAPEUTICS INC, $2.32, -6.83 pct
The company reported lower-than-expected sales on Monday and said it would offer shares up to $40 million. The company did not disclose the price at which it would offer the shares.
Maxim Group cut its price target on the biotechnology company's stock to $9 from $10.
** ENCANA CORP, $23.512, +4.22 pct
Canada's largest natural gas producer said its first-quarter operating profit more than doubled, helped by higher gas prices and liquids production.
** ELIZABETH ARDEN INC, $29.33, -17.68 pct
The U.S. cosmetics company said it is evaluating strategic alternatives, after reporting much weaker-than-expected quarterly results due to falling demand for its perfumes.
** ROCKWELL MEDICAL INC, $11.0899, -6.49 pct
The company, which develops drugs to treat kidney diseases, reported a smaller quarterly net loss, helped by a drop in research and development expenses.
** CONVERGYS CORP, $22.91, +4.14 pct
The customer management software provider reported better-than-expected results for the first quarter on Monday, helped by organic growth and the integration of Stream, which was accretive to its revenue. Convergys also said it was raising its quarterly dividend to 7 cents per share.
** DR. REDDY'S LABORATORIES LTD, $43.97, -4.58 pct
India's second-largest drugmaker by sales posted a 25 percent rise in quarterly net profit that fell short of analysts' estimates due to a rise in expenses.
** CARLYLE GROUP LP, $30.56, -2.02 pct
Integrated Dental Holdings, UK's largest privately owned dental chain, will either be put up for sale or floated on the stock market by the private equity firm, Sky News reported on Monday.
** MCKESSON CORP, $178.97, +2.72 pct
The U.S. drug wholesaler said on Monday that profit rose in the latest quarter, exceeding analyst expectations, thanks to strength in its distribution and technology solutions units.
** RACKSPACE HOSTING INC, $30.87, +12.13 pct
The company reported better-than-expected quarterly results as demand rose for its web-hosting services. Rackspace also forecast current-quarter revenue above analysts' estimates.
** HALOZYME THERAPEUTICS INC, $8.94, +18.88 pct
The biotechnology company said an independent safety committee recommended resuming a pancreatic cancer mid-stage trial halted in April, after it submitted an amended study protocol. Halozyme said on Monday that it had requested the U.S. health regulator to lift the clinical hold on the study.
The regulator ordered a halt on the study testing an advanced version of Halozyme's flagship drug delivery system barely a week after the company voluntarily stopped the trial on the recommendation of the committee.
** THOMPSON CREEK METALS CO INC, $2.94, +4.26 pct
The miner posted a surprise adjusted profit for the first quarter, helped by copper and gold sales from its Mt. Milligan mine.
The company reported an adjusted profit of 2 cents per share. Analysts on average had expected a loss of 8 cents per share, according to Thomson Reuters I/B/E/S.
** CHINA SUNERGY CO LTD, $3.09, +9.19 pct
The China-based solar panels maker estimated first-quarter shipments of more than 140 megawatts (MW) due to strong demand from the Chinese market.
China Sunergy had earlier forecast shipments of 130-140 MW for the quarter ended March 31.
** CARTESIAN, $4.3, +2.63 pct
The company, which provides software and technical consulting services to the communications, digital media and technology industries, reported a 16 percent rise in quarterly revenue, driven by growth from its Europe, Middle East and Africa unit.
** FUEL TECH INC, $5.02, -20.82 pct
The maker of pollution control products reported weaker-than-expected quarterly results late on Monday, mainly due to a decline in bookings in the United States and lower activity at a project in Chile.
** TELECOM ITALIA, $12.18, -4.84 pct
The company said on Tuesday that it expected a gradual recovery in earnings this year after posting an 8.4 percent fall in first-quarter core profit to reflect declining sales in Italy and a weaker currency in Brazil.
** ONEOK PARTNERS LP, $53.26, -2.92 pct
The natural gas services provider announced a public offering of 11 million of its common units. ($1 = 6.24 Chinese yuan) (Compiled by Vrinda Manocha in Bangalore; Editing by Kirti Pandey)