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Aug 12 (Reuters) - Some U.S. stocks to watch on Monday:
U.S. stock index futures were lower on Monday, indicating the previous week’s decline would continue as investors found few reasons to buy.
S&P 500 futures fell 6.6 points, Dow Jones industrial average futures were down 56 points, and Nasdaq 100 futures were down 11 points.
** BLACKBERRY LTD, Friday close $9.76
The Canadian smartphone maker said it had set up a committee to explore strategic alternatives that could include joint ventures, partnerships or a sale of the company. U.S.-listed shares of the company were halted in premarket trading.
** VICAL INC, Friday close $3.58, down 60 pct premarket
The drugmaker said it would stop developing its most advanced drug, cancer therapy Allovectin, after a late-stage trial failed to show that the treatment was significantly better than chemotherapy.
** STEINWAY MUSICAL INSTRUMENTS INC, Friday close $36.23, up 8 pct premarket
The manufacturer of pianos, saxophones and trumpets said it received a higher proposal of $38 per share in cash for its outstanding common shares from an affiliate of an investment firm, topping an earlier bid by private-equity firm Kohlberg & Co.
** PINNACLE FOODS INC, Friday close $25.46
The packaged foods company said it would acquire Unilever Plc’s Wish-Bone salad dressings business for $580 million.
** BROADCOM CORP, Friday close $26.06, down 1.5 pct premarket
Goldman Sachs cut its rating on the chipmaker’s stock to “neutral” from “buy”, according to the Theflyonthewall.com.
** APPLE INC, Friday close $454.45, up 0.53 pct premarket
The company is expected to present its redesigned iPhone on Sept. 10, technology blog AllThingsD said.
** ZOLTEK COS INC, Friday close $13.76, down 2.6 pct premarket
The carbon fiber maker reported a third-quarter loss on Friday because of weak demand from the wind energy market. The company supplies carbon fibers used in the manufacture of wind turbines.
Zoltek reported a loss of $0.9 million, or 3 cents per share, compared with an income of $5.6 million, or 16 cents per share, a year earlier.
** HEALTH MANAGEMENT ASSOCIATES INC, Friday close $13.24, down 2.3 pct after market
The hospital operator, which is being bought by larger peer Community Health Systems Inc, reported a lower-than-expected quarterly revenue due to reduced patient admissions, surgeries and emergency room visits.
The company posted a revenue of $1.46 billion for the second quarter. Analysts were expecting $1.70 billion, according to Thomson Reuters I/B/E/S.
** GENERAL MOTORS CO, Friday close $36.02
The automaker has begun gradually lowering its presence in South Korea after mounting labor costs and militant unionism triggered a rethink of its reliance on the country for a fifth of its global production, three individuals familiar with GM’s thinking said.
** DELL INC, Friday close $13.74
Months of public bickering, secretive backroom negotiations and eleventh-hour deals for control of Dell Inc belie the fact that the combatants are vying for a company facing steadily declining sales prospects.
** ROCKWELL COLLINS INC, Friday close $74.42
The supplier of avionics and other electronic systems for commercial and military aircraft has agreed to buy aerospace communications firm Arinc Inc for $1.39 billion from the Carlyle Group LP.
** EXXON MOBIL, Friday close $90.72
China’s biggest energy firm PetroChina will join Exxon Mobil in developing Iraq’s giant West Qurna oilfield and is in talks with Lukoil to buy into a second project at the field, industry sources said on Friday.
** J.C. PENNEY CO, Friday close $12.87
The public battle between J.C. Penney and leading shareholder Bill Ackman escalated on Friday with the hedge fund manager demanding the ouster of the retailer’s chairman as well as the interim chief executive, while Starbucks Corp Chief Executive Howard Schultz joined the fray urging the billionaire’ s removal from the board.
** HD SUPPLY HOLDINGS INC, Friday close $23.08
Shares of commercial construction products supplier HD Supply Holdings could rise more than 20 percent within a year and hit $42 within three years, according to a report in business weekly Barron’s on Sunday.
HD Supply was a division of the Home Depot until 2007 and went public in late June.
** AMERICA MOVIL, Friday close $20.97
Mexican billionaire Carlos Slim’s America Movil wants to ‘unlock value’ from Dutch telecoms group KPN and is not just interested in its German business E-Plus, a Dutch newspaper reported on Monday, quoting the Mexican group’s finance chief.
** PHARMERICA CORP, Friday close $14.08
The U.S. government has sued the pharmaceutical company, accusing it of dispensing controlled drugs without valid prescriptions and defrauding Medicare by causing claims to be submitted for the illegally dispensed drugs.
** PETROLEO BRASILEIRO PETROBRAS SA, Friday close $14.28, up 1.54 pct premarket
Oil industry suppliers Technip and DOF Subsea said on Monday they have won major contracts from Brazilian state-owned oil company Petrobras . (Compiled by Neha Alawadhi; Editing by Kirti Pandey)