July 29, 2013 / 12:10 PM / 4 years ago

MARKET PULSE-Saks, Intersil, Interpublic, Chelsea Therapeutics

4 Min Read

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July 29 (Reuters) - Some U.S. stocks to watch on Monday:

Markets Set for Flat Opening

U.S. stocks were poised to open largely flat on Monday with all three stock indices, S&P 500 futures, Dow Jones industrial average futures and Nasdaq 100 futures, down by about 0.1-0.2 percent.

** INTERPUBLIC GROUP OF COS, Friday close $15.87, up 5 pct premarket

Following a Bloomberg report that bigger rivals Omnicom Group and Publicis Groupe were in talks for a merger, shares of Interpublic rose on expectation the second largest U.S. advertising company would be in play.

Omnicom and Publicis announced on Sunday that they would merge in a $35.1 billion deal.

Interpublic may be considered an acquisition target by WPP , Havas or Japan-based Dentsu, Pivotal Research Group analyst Brian Wieser wrote in a note on Sunday.

** CHELSEA THERAPEUTICS INTERNATIONAL LTD, Friday close $3.07, down 12 pct premarket

Chelsea Therapeutics said the U.S. Food and Drug Administration has notified the pharmaceutical company of formatting issues in certain electronic datasets and statistical programs submitted as a part of the marketing approval application of its experimental hypotension drug, Northera.

Chelsea expects to submit the data in August. The date for a decision on the drug's approval may be delayed from the previously decided date of Jan. 3, 2014.

** SAKS INC, Friday close $15.31, up 4 pct premarket

Hudson's Bay Co, operator of department store chains Lord & Taylor in the United States and The Bay in Canada, said on Monday that it would buy luxury retailer Saks Inc for $16 per share, or $2.9 billion in cash, including debt.

** SYNOVUS FINANCIAL CORP, Friday close $3.27, up 2 pct after market

The financial services company on Friday completed its exit from the troubled asset relief program through a redemption of its shares worth $968 million. Post the announcement, the company's chairman, four of its directors and vice president together purchased 227,600 shares at $3.09 per share.

** INTERSIL CORP, Friday close $8.81, up 3.5 pct after market

The company, which makes power management chips used in flat-panel displays and DVD players, reported better-than-expected second-quarter revenue on Friday. Intersil also said it will reduce its workforce by 150 employees.

** LOEWS CORPORATION, Friday close $46.05

Hotel, energy and financial services conglomerate Loews Corp posted a jump in second-quarter profit as revenue from its insurance arm, CNA Financial Corp, increased nearly 13 percent on higher net investment income and lower non-catastrophe losses.

** SIMON PROPERTY GROUP INC, Friday close $164.54

The largest U.S. mall and outlet center owner is expected to show that the continued strength of high-quality malls and outlet centers can drive sales that make the properties attractive to stores when it reports its quarterly results on Monday.

** MICROSOFT CORP, Friday close $31.62, down 0.4 pct premarket

The company releases its annual report where CEO Steve Ballmer may say more to shareholders about his ambitious plan to regroup the world's largest software company around devices and services. (Compiled by Rohit T.K. in Bangalore; Editing by Sreejiraj Eluvangal)

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