July 29, 2013 / 1:30 PM / in 4 years

MARKET PULSE-Solar stocks, Saks, Intersil, Interpublic, Novavax

(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s)

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

WALL STREET SET TO SLIP AT OPEN BEGINNING BUSY WEEK

U.S. stocks were set to slip at the open on Monday as a week packed with data and central bank meetings gets under way. S&P 500 futures fell 3.6 points, Dow Jones industrial average futures fell 27 points, and Nasdaq 100 futures lost 6 points.

** SYNTA PHARMACEUTICALS CORP, Friday close $5.06, up 12 pct premarket

The biopharmaceutical company said a proof-of-concept study on its drug candidate ganetespib as a treatment for breast cancer has met its goal. Preliminary data showed the study could now be expanded and taken to its next stage, the company said.

** SUNTECH POWER HOLDINGS CO LTD, Friday close $1.41, up 16 pct premarket

** RENESOLA LTD, Friday close $4.30, up 10 pct premarket

** YINGLI GREEN ENERGY HOLDING CO LTD, Friday close $4.01, up 9.2 pct premarket

** JINKOSOLAR HOLDING CO LTD, Friday close $12.89, up 9 pct premarket

** JA SOLAR HOLDINGS CO LTD, Friday close $8.89, up 7 pct premarket

** CANADIAN SOLAR INC, Friday close $13.68, up 6 pct premarket

** LDK SOLAR CO LTD, Friday close $1.69, up 6.5 pct premarket

** TRINA SOLAR LTD, Friday close $7.46, up 6 pct premarket

China and the European Union defused their biggest trade dispute by far on Saturday with a deal to regulate Chinese solar panel imports and avoid a wider war in goods from wine to steel.

EU's trade chief and his Chinese counterpart set a minimum price for panels from China near spot market prices. Under the terms of the deal, China will also be allowed to meet about half Europe's solar panel demand, if taken at last year's levels.

"The latest agreement more or less maintains the status quo for Chinese module makers," Raymond James analyst Pavel Molchanov said, adding that the deal was in line with expectations.

Chinese firms have already been bracing themselves for lower sales to Europe because the European market size is shrinking, while increasing their presence in markets like China and Japan.

** NOVAVAX INC, Friday close $2.49, up 6 pct premarket

The vaccine developer reported positive results from pre-clinical studies testing its experimental vaccine against the H7N9 virus, a strain of the bird flu virus.

Novavax said the drug demonstrated 100 percent protection against wild-type A (H7N9) influenza versus zero percent survival in the control and placebo groups, when tested on mice.

The virus has caused 36 deaths, and infected 131 people in mainland China and one in Taiwan since February.

** 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.

** INTUITIVE SURGICAL INC, Friday close $382.29, up 4.6 pct premarket

The maker of da Vinci surgical robots said it would repurchase additional $779 million of the company's outstanding common stock. Intuitive's total share repurchase amount will now be about $1.5 billion.

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

** Nordstrom Inc, Friday close $61.52, down 2 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 2 pct premarket

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, up 2 pct premarket

** CNA FINANCIAL CORP, Friday close $34.47

Hotel, energy and financial services conglomerate Loews Corp reported a jump in quarterly profit due to a strong performance at its biggest business, insurer CNA Financial Corp.

* STURM RUGER & COMPANY INC, $49.33, down 2 pct

The gunmaker said a temporary disruption at one of its two manufacturing facilities due to a severe thunderstorm may have a material impact on the company's third-quarter results.

** BARNES & NOBLE INC, Friday close $18.41, down 2 percent premarket

The top U.S. bookstore chain said it sought more time to deliver audited financial statements to lenders due to restatements in certain financial periods. (link.reuters.com/nef99t)

The company said it had to restate certain financial statements for periods prior to April 27, 2013, as it had overstated certain accruals as a result of inadequate controls over the accrual reconciliation process at its distribution centers.

** SIMON PROPERTY GROUP INC, Friday close $164.54

The largest owner of U.S. malls and outlet centers on Monday reported a higher-than-expected quarterly profit boosted by increased occupancy and rent, and the company raised its forecast for the year.

** 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)

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