March 11, 2013 / 1:18 PM / in 5 years

MARKET PULSE-Genworth, Canadian Solar, Dell, Dick's Sporting

March 11 (Reuters) - Some U.S. stocks to watch on Monday: (For more market insights, including options activity, click on STXNEWS/US; for The Day Ahead newsletter; for the Morning News Call newsletter,


Stock index futures edged lower on Monday following last week’s rally to record highs for the Dow as a credit downgrade of Italy and disappointing data from China curbed investors’ enthusiasm. S&P 500 futures fell 3.5 points. Dow Jones Industrial Average futures fell 18 points, and Nasdaq 100 futures lost 6.5 points.

** DICK‘S SPORTING GOODS INC, Friday close $50.60, down 8 pct premarket

The sporting goods retailer forecast weak first-quarter profit after reporting lower-than-expected fourth-quarter results, hurt by the weak sales of its fitness equipment and cold weather accessories.

** SIMCERE PHARMACEUTICAL GROUP, Friday close $7.96, up 14 pct premarket

The China-based company received a buyout offer from a consortium led by Chairman Jinsheng Ren for $9.56 per American depositary share (ADS), valuing the company at about $500 million.

** GENWORTH FINANCIAL INC, Friday close $9.84, up 10 pct premarket

The mortgage insurer’s stock could almost double in the next year, boosted by gains in mortgage and health-care pricing, Barron’s said on Sunday.

** CANADIAN SOLAR INC, Friday close $3.73, down 3 pct premarket

The company reported its sixth straight quarterly loss, but forecast higher shipments for 2013 as it shifts focus to the more lucrative business of building solar power plants to offset slim margins from solar product sales. [ID:nL3N0C322W

** JAZZ PHARMACEUTICALS PLC, Friday close $58.50, up 3 pct premarket

Cantor Fitzgerald initiated its coverage on the drugmaker with a “buy” rating and said concerns over possible generic versions of Jazz’s key drug Xyrem were “unreasonable”.

Analyst Irina Rivkind said that as Xyrem is a tightly restricted medication with potential safety risks, she does not expect that a “risk-averse FDA would facilitate generic approval of a dangerous compound that is only used by about 10,000 patients.” Rivkind set a price target of $86 on the stock.

** DELL INC, Friday close $14.16, up 1 pct premarket

Icahn Enterprises LP said it had entered into a confidentiality agreement with Dell, and looked forward to commencing a review of the company.

** TETRA TECHNOLOGIES INC, Friday close $9.08, up 3 pct after market

Philip N. Longorio, a vice president at the oilfield services provider, bought 56,100 Tetra shares at $8.92, according to a regulatory filing.

Chief Financial Officer Elijio Serrano bought 11,000 shares at $9.09.

** METALS USA HOLDINGS CORP, Friday close $20.64

The company, which is being acquired by Reliance Steel & Aluminum Co in a $766 million deal, said a 30-day “go-shop” period had ended without it receiving any proposals from the 67 potential buyers it had contacted.

** ELAN CORP PLC , Friday close $11.46, up 6 pct after market

The drugmaker is to bring forward a planned $1 billion share buyback to this week, the Irish company said in a statement on Friday, a move that could undermine a takeover offer by U.S. investment firm Royalty Pharma.

** GMX RESOURCES INC, Friday close $3.24

The oil and gas producer said it would suspend payment of quarterly dividends on some preferred shares to retain capital and improve liquidity.

** THE MEDICINES CO, Friday close $31.70

The company’s experimental intravenous blood clot preventer Cangrelor, which is intended for use during angioplasty procedures, solidly outperformed commonly used Plavix in a pivotal late stage study, likely resurrecting the drug’s prospects.

** BED BATH & BEYOND INC, Friday close $59.37

The retailer’s shares could rise 25 percent over the next year on strong profit growth and a higher valuation, but could fetch a 43-percent premium in an acquisition, Barron’s said on Sunday.

There is no indication that the retailer is looking to sell itself, the magazine said in its March 11 edition, but noted that the company’s retailing acumen and financial strength would appeal to private equity investors or even Berkshire Hathaway Inc.

** WALTER ENERGY INC, Friday close $31.66

The coal miner, in the midst of a spat with a British hedge fund that is looking to replace half of its board, said it could further cut production at underperforming mines and explore the sale of non-core assets. (Compiled by Pallavi Ail in Bangalore)

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