8 Min Read
(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) U.S. stock index futures edged higher on Monday as a weak reading on Chinese manufacturing raised hopes that the Chinese government would issue new stimulus to combat slowing momentum, though ongoing tensions in Ukraine weighed on sentiment. Dow Jones industrial average futures were up 0.17 percent at 16,249, S&P 500 futures were up 0.27 percent at 1,862.1 and Nasdaq 100 futures were up 0.25 percent at 3,648.
** HERBALIFE LTD, Friday close $49.54, +6.92 pct premarket
The nutrition and weight-loss company said it would allow three more representatives of billionaire investor Carl Icahn to join its board, sending the company's shares up before the bell on Monday.
** MICROSOFT CORP, Friday close $40.16, +0.50 pct premarket
** NOKIA CORP, Friday close $7.17, +1.12 pct premarket
The Finland-based handset maker does not expect to close the sale of its phone business to Microsoft until April as talks with Asian regulators drag on, it said on Monday, fuelling speculation it may have to make more concessions to get the deal done.
** STRATASYS LTD, Friday close $106.45, +3.31 pct premarket
J.P. Morgan Securities raised its rating on the 3D printer maker's stock to "overweight" from "neutral" and said growth prospects for the company and the 3D printing market remained "compelling."
Analyst Paul Coster also said that while HP's announcement of its intentions to enter the 3D printing space had sent Stratasys' shares down last week, for now the incumbent players had the advantage.
** JPMORGAN CHASE & CO, Friday close $60.17, +0.30 pct premarket
The financial holding company's chief executive for China investment banking, Fang Fang, will leave the firm, according to an internal memo - a departure that comes amid a probe of JPMorgan hiring practices in Asia.
** ALBANY MOLECULAR RESEARCH INC, Friday close $18.44
The contract research company said it acquired Cedaburg Pharmaceuticals, a maker of active pharmaceutical ingredients, for $38.2 million in cash, to expand its drug-developing services in creating complex active pharmaceutical ingredients. It will also assume liabilities of about $2.8 million.
Albany Molecular said the deal was expected to add about 6-7 cents to its 2014 adjusted earnings per share and about $13-$14 million to its revenue.
** GENERAL MOTORS CO, Friday close $35.01, -0.89 pct premarket
Federal authorities are investigating whether the U.S. car maker hid an ignition switch defect when it filed for bankruptcy in 2009, The New York Times reported on Saturday.
** RENESOLA LTD, Friday close $3.87, +10.21 pct premarket
The Chinese solar products maker posted its first profit in 10 quarters, helped by higher shipments of solar modules.
** PALO ALTO NETWORKS INC, Friday close $76.56, +0.05 pct premarket
The security software maker said it agreed to buy privately held Israeli cybersecurity company Cyvera for about $200 million to expand its offerings that protect businesses from cyber attacks.
** J.C. PENNEY COMPANY INC, Friday close $8.49, +0.72 pct premarket
** MACY'S INC, Friday close $58.97
** MARTHA STEWART LIVING OMNIMEDIA INC, Friday close $4.75
J.C. Penney said it did not expect the outcome of its pending lawsuit with retailer Macy's over a home products deal with Martha Stewart Living Omnimedia to have a material adverse impact on its results.
** NU SKIN ENTERPRISES INC, Friday close $75, +25.80 pct premarket
China has fined NU Skin Enterprises more than $500,000 for illegal product sales and misleading local consumers, the country's watchdog said in a statement on Monday, adding it would strengthen regulation of the country's direct sales market.
** GREEN PLAINS RENEWABLE ENERGY INC, Friday close $30.43, +5.16 pct after market
The ethanol maker said it had called for redemption of all of its outstanding 5.75 percent convertible senior notes due 2015, $90 million aggregate principal amount, pursuant to the provisional "optional redemption" right in the indenture governing the notes.
** YANZHOU COAL MINING CO LTD, Friday close $7.75, +2.97 pct premarket
The Chinese coal miner ditched a plan to buy out the minority shareholders of its Australian unit, sending shares of the Sydney-listed firm diving and boding ill for an industry that has been trying to get back on its feet.
** CELGENE CORP, Friday close $144.4, +2.08 pct premarket
U.S. health regulators approved on Friday the company's drug to treat psoriatic arthritis, a type of arthritis associated with the skin disease psoriasis that causes joint pain, stiffness and swelling.
** GOODRICH PETROLEUM CORP, Friday close $13.86, -6.20 pct premarket
Suntrust Robinson Humphrey cut its price target on the oil and gas producer to $25 from $30, citing delays in production at the company's Tuscaloosa Marine Shale play.
** APPLE INC, Friday close $532.87, +1.04 pct premarket
** COMCAST CORP, Friday close $50
Apple is in talks with Comcast Corp to enter into a deal for a streaming-television service that would allow Apple set-top boxes to bypass congestion on the web, the Wall Street Journal reported, citing people familiar with the matter.
** CYTRX CORP, Friday close $3.82, +3.40 pct premarket
The drugmaker said it started a pivotal late-stage trial of its experimental cancer drug as a treatment for soft tissue sarcoma - a type of cancer which occurs in tissues including muscles and blood vessels - in patients who have not responded or progressed after previous treatment.
The company said it expected to complete enrollment in the study of the drug, aldoxorubicin, in 2015.
** CANADIAN NATIONAL RAILWAY, Friday close $55.58
The rail transportation company said on Friday that it was prepared to meet one last time with the union representing its conductors, yard workers, and traffic coordinators, if the union agreed to a binding arbitration should talks fail.
** LOCKHEED MARTIN CORP, Friday close $157.4, +0.44 pct premarket
South Korea expects to pay around 7.34 trillion won ($6.79 billion) for 40 Lockheed Martin F-35 fighter jets, two sources with knowledge of the matter said on Monday, as Seoul boosts its air defences amid simmering tensions in the region.
** CISCO SYSTEMS INC, Friday close $21.64, +0.28 pct premarket
** AMAZON.COM INC, Friday close $360.62, +0.11 pct premarket
Cisco Systems plans to offer cloud computing services, pledging to spend $1 billion over the next two years to enter a market currently led by the world's biggest online retailer Amazon.com, the Wall Street Journal reported.
** SPRINT CORP, Friday close $9.05, +1.77 pct premarket
Sprint Corp cut 330 jobs and closed 55 stores around the United States this week, as part of an ongoing plan to shrink its workforce in 2014, Cnet.com reported.
** TWITTER INC, Friday close $50.92, -1.02 pct premarket
** FACEBOOK INC, Friday close $67.24, +0.21 pct premarket
** GOOGLE INC, Friday close $1,183.04, +0.23 pct premarket
Turkey's abrupt ban on Twitter stirred concerns on Friday that the country may pull the plug on other social media and Internet services as it grapples with internal turmoil. Prime Minister Tayyip Erdogan has in the past threatened to block Facebook and Google's YouTube as well, though both remained online.
** AT&T INC, Friday close $34.3, +0.00 pct premarket
** NETFLIX INC, Friday close $405.99
AT&T on Friday dismissed Netflix's recent call for free interconnection as an arrogant and unfair attempt to force others to pay for the content provider to gain access to faster broadband speeds and better services. (Compiled By Shuhankar Chakravorty in Bangalore; Editing by Simon Jennings)