October 8, 2013 / 11:53 AM / 4 years ago

MARKET PULSE- Tower Group, Talisman Energy, PHH, Jamba

(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s) U.S. stock index futures were little changed on Tuesday as small signs of progress began to emerge in the fiscal standoff among politicians in Washington.

S&P 500 futures were down 0.2 point. Dow Jones industrial average futures were flat and Nasdaq 100 futures were up 1 point.

** TOWER GROUP INTERNATIONAL LTD, Monday close $7.41, down 24 pct premarket

The company said it expects to increase its loss reserves by about $365 million, much higher than what the property and casualty insurer previously indicated.

** ALCATEL-LUCENT, Monday close $3.85

Telecom equipment maker Alcatel-Lucent unveiled plans on Tuesday to cut an overall 10,000 jobs worldwide by the end of 2015, hoping to save 1 billion euros ($1.36 billion) and turn the company around after years of losses.

** VODAFONE GROUP , Monday close $35.14

Vodafone intends to increase its stake in its Indian subsidiary after the country cleared foreign companies to take full ownership of local carriers, a source familiar with the group’s plans said on Monday.

** TALISMAN ENERGY INC, Monday close $12.75, up 8 pct premarket

Shares of the oil and gas producer surged in after-hours trading on Monday after activist investor Carl Icahn said he has purchased about 61 million shares of the underperforming Canadian company and may seek a seat on its board.

** AMAZON.COM INC, Monday close $310.03, up 0.2 pct premarket

A U.S. court ruled in favor of Amazon.com, which is locked in a dispute with International Business Machines over a $600 million cloud computing contract awarded by the Central Intelligence Agency, a court notice showed.

** PHH CORP, Monday close $25.92

The company said it is exploring splitting up its mortgage and auto fleet leasing businesses, and selling each of the units, three people familiar with the situation told Reuters on Monday.

** MOSAIC CO, Monday close $45.64

The U.S. fertilizer company lowered its outlook for 2013 global potash shipments, citing weaker demand in India and a delay in settling a second-half contract between its export agency Canpotex Ltd and China’s Sinofert Holdings Ltd.

** KYTHERA BIOPHARMACEUTICALS INC, $45.54, down 2 pct after market

The biotechnology company said it would offer its common shares to raise $100 million. The company did not disclose the number of shares it would offer or their pricing.

The company will use part of the proceeds to develop and market its experimental drug to reduce submental fat.

** PSIVIDA CORP, Monday close $5.07, up 3 pct premarket

Northland Capital Markets initiated coverage on the drugmaker’s stock with an “outperform” rating, according to Theflyonthewall.com.

** JAMBA INC, Monday close $13.47, down 8 pct after market

The smoothie store operator warned of a 3.4 percent fall in comparable-store sales in the current quarter, mainly due to a slowdown in consumer spending.

** MCKESSON, Monday close $129.63

Dow Jones Newswires reported that McKesson was in advanced talks to take over German drugs distributor Celesio in a possible 3.74 billion euro ($5.08 billion) deal. (Compiled by Sneha Banerjee; Editing by Maju Samuel)

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