April 9, 2013 / 11:19 AM / in 5 years

MARKET PULSE- J.C. Penney, Alcoa, Tetra Tech, Staar Surgical

(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s)

April 9 (Reuters) - Some U.S. stocks to watch on Tuesday:


U.S. stock index futures pointed to a mixed open on Wall Street, with futures for the S&P 500 up 0.1 percent, the Dow Jones up 0.01 percent and Nasdaq 100 up 0.4 percent at 1035 GMT.

** J.C. PENNEY, Monday close $12.87, down 5.5 pct premarket

The struggling department store chain parted ways with Chief Executive Ron Johnson, who failed to win over shoppers and investors with his everyday-low-price strategy, and on Monday rehired Johnson’s predecessor, former CEO Myron Ullman, to revive the company.

** STAAR SURGICAL CO, Monday close $5.51, up 20 pct aftermarket

The implantable lens maker estimated first-quarter revenue above analysts’ expectations, as sales of its Visian ICL contact lenses rose about 24 percent. Staar estimated quarterly revenue of about $18 million. Analysts had expected revenue of $16 million, according to Thomson Reuters I/B/E/S.

** TETRA TECH INC, Monday close $28.36, down 3 pct aftermarket

The engineering and construction consulting company said it expects lower revenue in the second half of 2013 due to weakness in its Eastern Canada operations from reduced consumer spending and slowing government procurements. The company said operating income will come down by $20 million to $30 million in the second half.

** ALCOA INC, Monday close $8.39, down 1.4 pct after market

The largest U.S. aluminum producer reported a higher quarterly profit on Monday thanks in part to strength at its raw materials segment, but lower-than-expected revenue and an uncertain outlook dragged down the company’s share price.

** BANK OF NOVA SCOTIA , Monday close $56.12

The bank is scheduled to host its annual general meeting of shareholders in Halifax, Nova Scotia on Tuesday. Scotiabank, Canada’s third largest bank, operates in more than 50 countries, with the heaviest weighting in Latin America and a growing presence in Asia.

** GENERAL MOTORS CO, Monday close $27.59

The company has warned it could shift operations from South Korea in the longer term due to rising tension with the North, angering its Korean union which accuses the firm of using the instability as leverage ahead of tough annual labour talks.

** CITIGROUP INC, Monday close $43.56

A federal judge grilled lawyers for Citigroup and shareholders on Monday over a proposed $590 million settlement of an investor lawsuit over its exposure to toxic mortgage assets, asking if the accord was fair given none of the bank executives named as defendants would contribute money to it.


The insurer has asked a court to block Maurice “Hank” Greenberg’s efforts to sue the U.S. government on AIG’s behalf, saying its former CEO has not proven he should have the right to do so.

** EXXON MOBIL CORP, Monday close $88.60

The company said work began on Sunday to excavate and cut out the section of the affected crude oil pipeline that ruptured in late March in a neighbourhood in Mayflower, Arkansas, forcing residents to evacuate their homes.

** NEWS CORP, Monday close $31.41

The company’s Fox TV network raised the stakes in its battle with Web startup Aereo Inc on Monday, threatening to remove itself from the free airwaves entirely and become a cable channel if courts do not shut down the online TV service. (Compiled by Aditi Shrivastava in Bangalore; Editing by Supriya Kurane)

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