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March 25 (Reuters) - Some U.S. stocks to watch on Monday:
U.S. stock index futures pointed to a higher open on Wall Street on Monday, rallying with world stocks after Cyprus reached a deal with lenders to bail out the indebted island and avert a collapse of its banking system.
** DELL INC, Friday close $14.14, up 3 percent premarket
** BLACKSTONE GROUP, Friday close $19.71
The PC-maker confirmed it had received alternative buyout offers from Blackstone Group LP and Carl Icahn, following a $24.4 billion agreement last month to be taken private by its founder and private equity firm Silver Lake.
The company said its special committee has determined that “both proposals could reasonably be expected to result in superior proposals.”
** OTELCO INC, Friday close $1.62, down 25 pct premarket
The telecom services provider filed for Chapter 11 bankruptcy on Sunday, court documents showed, three months after it lost a key revenue-generating contract from Time Warner Cable Inc.
** BLACKBERRY, Friday close $14.91, down 6 percent premarket
Goldman Sachs cut its rating on the company’s stock to “neutral” from “buy”, theflyonthewall.com reported.
The smartphone maker’s stock had dropped on Friday after reports of a flat response to the launch of its new Z10 smartphone in the vitally important U.S. market.
** BANK OF AMERICA CORP, Friday close $12.56, up 2 percent premarket
Chief Executive Brian Moynihan will need to hold shares likely worth millions of dollars for at least a year after he retires, under a new compensation policy that the bank instituted following investor pressure.
** JA SOLAR HOLDINGS CO, Friday close $4.15, down 4 percent
The China-based solar equipment maker reported a seventh straight quarterly loss as prices for panels that convert sunlight into electricity remained low.
** UNITED THERAPEUTICS CORP, Friday close $60.95, down 6 pct premarket
The biotechnology company said U.S. health regulators rejected its oral drug to treat hypertension for the second time.
The drug treprostinil diethanolamine is designed to treat pulmonary arterial hypertension (PAH) - a potentially life-threatening condition characterized by abnormally high blood pressure in the arteries of the lungs, burdening the heart.
** J.C. PENNEY CO INC, Friday close $15.43, down 1.5 pct premarket
BMO Capital Markets downgraded the retailer to “underperform” from “marketperform,” saying the company could be forced into involuntary bankruptcy in 2014 if current trends continue.
The brokerage also said the idea that the company could unlock value through a REIT structure is unlikely due to its lease burden and unattractiveness of REIT credit.
** TESSERA TECHNOLOGIES INC, Friday close $18.18
The technology patent firm said it is searching for a new Chief Executive to replace Robert Young.
Activist hedge fund Starboard Value had called for the sacking of the CEO and an overhaul of the board of Tessera earlier this month.
** FREEPORT MCMORAN COPPER AND GOLD, Friday close $33, up 2 percent premarket
London copper rose on Monday after Cyprus reached a last-ditch deal with international lenders for a 10 billion euro bailout, boosting appetite for risky assets and soothing concerns over the impact of a euro zone default on demand for metals, lifting shares of the copper miner.
** SIRIUS XM, Friday close $3.01
The company struck a deal to carry a new channel produced by Glenn Beck’s media company ‘theBlaze’, featuring conservative talk shows and news programming that begins airing on Monday.
** SAIC, Friday close $12.73, up 2 pct premarket
Shares the government services provider could be set for gains, with a planned spinoff expected to help its value despite uncertainty over defense-spending cuts, according to Barron’s financial newspaper.
** SAREPTA THERAPEUTICS, Friday close $32.77, up 4 pct premarket
Shares of the drugmaker could rise swiftly and hit $50 a share if it seeks accelerated approval from the U.S. Food and Drug Administration for eteplirsen, a drug being tested for Duchenne muscular dystrophy, according to a report in Barron’s financial newspaper.
** SMITHFIELD FOODS INC, Friday close $26.22
The largest U.S. hog producer has hired Goldman Sachs Group Inc to help it weigh options after a key shareholder urged the company to break up, according to four people familiar with the matter.
** UBS AG, Friday close $15.60
The Swiss bank is in talks with the Securities and Exchange Commission to settle allegations the bank defrauded investors in a mortgage bond deal that soured during the financial crisis, the Wall Street Journal reported, citing people familiar with the matter.
** BIOGEN IDEC, Friday close $178.00
European regulators have recommended approval of the drugmaker’s multiple sclerosis pill, which is expected to become a major seller.
** CBS CORP, Friday close $45.98
The mass media company is nearing an agreement to purchase about half of TV Guide Network, according to various media reports on Friday.
** DOLLAR GENERAL, Friday close $50.07
The discount chain posted a higher quarterly profit on Monday as increased sales of food and other basics helped drive growth despite consumers’ concerns about the economy.
** EDUCATION MANAGEMENT CORP, Friday close $3.65
The for-profit education company said it received a subpoena from the U.S. Securities and Exchange Commission requesting documents regarding its valuation of goodwill and bad debt allowance.
** CISCO SYSTEMS INC, Friday close $20.75
The world’s largest manufacturer of networking equipment must pay $70 million in damages to patent licenser XpertUniverse Inc for fraudulently obtaining technology developed by the New York company, a jury found on Friday, according to court filings.
** APPLE INC Friday close $461.91, up 1 percent
The iPhone-maker has acquired a Silicon Valley startup, WiFiSlam, which makes mapping applications for smart phones.
** IDENIX PHARMACEUTICALS INC, Friday close $4.60, down 4.5 pct aftermarket
The company said on Friday that the United States Patent and Trademark Office issued a decision that Idenix was determined to have had a later filing date for a patent application than Gilead Sciences Inc.
The patent application relates to a compound useful for the treatment of hepatitis C. (Compiled by Jochelle Mendonca)