June 4, 2014 / 1:33 PM / 3 years ago

MARKET PULSE-Solar stocks, Tibco, NQ Mobile, FuelCell Energy

(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)

June 4 (Reuters) - U.S. stock index futures pointed to a lower open on Wednesday as data on the labor market came in weaker than expected, giving investors reason to sell amid few positive catalysts and with indexes near record levels. Dow Jones e-mini industrial average futures were down 0.16 percent at 16,687, S&P 500 e-mini futures were down 0.21 percent at 1,918 and Nasdaq 100 e-mini futures were down 0.27 percent at 3,720.5.

** YINGLI GREEN ENERGY HOLD CO LTD, Tuesday close $2.95, -5.76 pct premarket

** RENESOLA LTD, Tuesday close $2.31, -3.03 pct premarket

** HANWHA SOLARONE CO LTD, Tuesday close $2.29

** TRINA SOLAR LTD, Tuesday close $12.97, -6.32 pct premarket

** JINKOSOLAR HOLDING CO LTD, Tuesday close $27.02, -8.77 pct premarket

** CHINA SUNERGY CO LTD, Tuesday close $3

** JA SOLAR HOLDINGS CO LTD, Tuesday close $9.88, -4.96 pct premarket

** REAL GOODS SOLAR INC, Tuesday close $2.3

** FIRST SOLAR INC, Tuesday close $62.93, +3.31 pct premarket

** CANADIAN SOLAR INC, Tuesday close $25.09, -4.46 pct premarket

** SOLARCITY CORP, Tuesday close $49.21, -2.46 pct premarket

** SUNPOWER CORP, Tuesday close $32.01, +5.09 pct premarket

** SUNEDISON INC, Tuesday close $19.49, -3.80 pct premarket

The United States slapped new import duties on solar panels and other related products from China on Tuesday after the Commerce department ruled they were produced using Chinese government subsidies, potentially inflaming trade tensions between the two countries.

** TIBCO SOFTWARE INC, Tuesday close $20.79, -12.55 pct premarket

** TABLEAU SOFTWARE INC, Tuesday close $56.17, -0.48 pct premarket

Tibco forecast second-quarter revenue and profit below estimates, hurt by disappointing sales of its data analytics and visualization software, Spotfire.

The outlook prompted at least three brokerages to downgrade the stock.

Shares of rival Tableau also fell due to the forecast.

** PROTECTIVE LIFE CORP, Tuesday close $58.72, +18 pct premarket

Japan’s Dai-ichi Life Insurance Co has agreed to buy U.S. peer Protective Life for $5.7 billion, the largest acquisition by a Japanese insurer, displaying its determination to grow overseas to counter weak prospects at home.

** LEGG MASON INC, Tuesday close $49.19, +6.99 pct premarket

** STIFEL FINANCIAL CORP, Tuesday close $44.88

Stifel Financial said it would buy asset manager Legg Mason’s investment advisory unit to expand its wealth management business.

** NQ MOBILE INC, Tuesday close $7.63, +36.83 pct premarket

The Chinese mobile security software maker NQ Mobile Inc said a special committee had found no evidence of fraud, as alleged by short-seller Muddy Waters Research Group.

** COACH INC, Tuesday close $40.36, -1.66 pct premarket

Sterne Agee cut its rating on the handbag maker to “neutral” from “buy” and its price target by $10 to $41, citing falling U.S. sales and lower margins.

** FUELCELL ENERGY INC, Tuesday close $2.37, -13.92 pct premarket

** BALLARD POWER SYSTEMS INC, Tuesday close $3.93, -5.09 pct premarket

** PLUG POWER INC, Tuesday close $4.41, -4.54 pct premarket

The developer of fuel-cell power plants reported a bigger-than-expected loss for the second quarter, hurt by a drop in demand and higher costs. Excluding items, loss was 4 cents per share, higher than analysts’ average estimate of 3 cents per share, according to Thomson Reuters I/B/E/S.

The net loss attributable to shareholders more than doubled to $16.6 million, or 7 cents per share, in the quarter ended April 30, from $8.2 million, or 4 cents per share, a year earlier.

Shares of other fuel-cell makers also fell.

** GOOGLE INC, Tuesday close $554.51, -0.44 pct premarket

** APPLE INC, Tuesday close $637.54, -0.16 pct premarket

** YAHOO INC, Tuesday close $34.65

** CISCO SYSTEMS INC, Tuesday close $24.675

** MICROSOFT CORP, Tuesday close $40.29, -0.27 pct premarket

** FACEBOOK INC, Tuesday close $62.87, -0.68 pct premarket

Chinese state media lashed out at Google, Apple and other U.S. technology companies on Wednesday, calling on Beijing “to punish severely the pawns” of the U.S. government for monitoring China and stealing secrets.

U.S. companies such as Yahoo, Cisco Systems, Microsoft and Facebook threaten the cyber-security of China and its Internet users, said the People’s Daily on its microblog, in comments echoed on the front page of the English-language China Daily.

* SCHULMAN A INC, Tuesday close $34.16

* FERRO CORP, Tuesday close $13.16

Chemical maker A. Schulman Inc said it would acquire selected assets of rival Ferro Corp’s specialty plastics business for about $91 million. The deal includes four facilities in the United States and operations in Spain.

Ferro Corp said in a separate statement it would use the proceeds from the sale to reduce debt. The company also lowered its 2014 adjusted earnings forecast to 48 cents to 53 cents per share from 68 cents to 73 cents.

Schulman had expressed interest in acquiring Ferro in February 2013, but dropped its bid in July.

** GENERAL MOTORS CO, Tuesday close $35.26

General Motors on Tuesday apologized to families of accident victims who have been notified to bring in cars for replacement of defective ignition switches.

The company officials increasingly believe that Chief Executive Mary Barra will be cleared of wrongdoing in the recall crisis after a three-month internal investigation, the New York Times reported.

** XL GROUP PLC, Tuesday close $32.38, +1.91 pct premarket

Brokerage Morgan Stanley upgraded the insurer to “overweight” from “equal weight” saying the company’s decision to sell its life reinsurance business would lead to better profitability.

** AEGION CORP, Tuesday close $23.48, -2.68 pct premarket

The company, which provides services to protect against corrosion of pipelines and rehabilitate and strengthen water, cut its forecast for second-quarter earnings due to slower growth in projects and weaker margins in its energy and mining business.

** UNDER ARMOUR INC, Tuesday close $51.1, +2.05 pct premarket

Jefferies & Co raised its rating on the athletic gear maker’s shares to “buy” from “hold” and its price target by $15 to $65, saying the market was not factoring in the company’s long-term revenue growth potential.

“Sales can exceed $15 billion over the next 10 years, based on strong secular athletic trends across multiple categories and ...UA’s growing dominance with the youth generation and women,” analyst Randal Konik wrote in a note.

** NRG ENERGY INC, Tuesday close $36.06

** NRG YIELD INC, Tuesday close $46.92

NRG Yield, a unit of NRG Energy, said it would buy California’s Alta Wind Energy Center, the largest wind farm in North America, for $870 million.

** AMBARELLA INC, $24.65, +4 pct after market

The video-processing chipmaker on Tuesday reported better-than-expected first-quarter results, driven by growth in its internet protocol (IP) surveillance and security camera business.

** AES CORP, Tuesday close $14.19

The American power firm said on Wednesday it is planning to invest up to $2 billion to expand its coal-fired power plant in the northwestern Philippines and put up power storage facilities to help stabilize supply in the energy-deficient central provinces.

** YANDEX, Tuesday close $32.4, +2.35 pct premarket

Class A shares in Yandex N.V., the lead company in Russian internet holding Yandex, which began trading on the Moscow Exchange (MOEX: MOEX) on Wednesday, have seen their price rise nearly 36 percent above their equivalent value on the U.S. Nasdaq exchange.

** ANNIE‘S INC, Tuesday close $31.75, -2.6 pct premarket

The organic food maker said its auditor PricewaterhouseCoopers LLP was resigning due to identification of "material weakness" in its process of financial reporting. (r.reuters.com/byc89v)

The company said this had not resulted in any material misstatements of its results for the fiscal years ended March 31, 2014, 2013 and 2012.

** DRAGONWAVE INC , Tuesday close $1.222, +14.57 pct premarket

The wireless networking equipment maker said it expects its first-quarter revenue to grow 60 percent compared to its prior forecast of 50 percent.

** NANOSTRING TECHNOLOGIES INC, Tuesday close $14.25

** CELGENE CORP, Tuesday close $155.51

NanoString said it entered into a collaboration with Celegene to develop a diagnostic test to support the clinical validation of Celgene’s blood cancer therapy, Revlimid.

NanoString will develop, seek approval and market the test and is eligible to receive payments totaling up to $45 million, including an upfront payment of $5.75 million, it said on Tuesday.

** BROWN-FORMAN CORP, Tuesday close $92.9, +1.18 pct premarket

The Jack Daniel’s whiskey maker reported a better-than-expected quarterly profit, helped by a 36 percent jump in sales of Jack Daniel’s Tennessee Honey whiskey and strong demand in Russia.

The company said it expects full-year earnings of $3.25-$3.45 per share, largely above analysts’ average expectation of $3.29 per share, according to Thomson Reuters I/B/E/S.

** DRYSHIPS INC, Tuesday close $2.9, +1.38 pct premarket

The dry bulk carrier said on Wednesday it signed a drilling contract for one of its semi-submersible drilling. The rig will commence the contract in the first quarter of 2015.

Compiled by Shubhankar Chakravorty in Bangalore; Editing by Sriraj Kalluvila

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below