May 8, 2013 / 12:52 PM / in 5 years

MARKET PULSE-Cognizant, ValueClick, Whole Foods, Symantec, Electronic Arts

(For more market insights, including options activity, click on STXNEWS/US; for The Day Ahead newsletter

May 8 (Reuters) - Some U.S. stocks to watch on Wednesday:


U.S. stock index futures pointed to a flat open as investors found little reason to push shares decisively one way or the other, following gains that took indexes to fresh highs a day earlier. Futures for the S&P 500 were down 1.3 point, the Dow Jones down 4 points and the Nasdaq 100 up 1.25 point.

** WEBMD HEALTH CORP, Tuesday close $25.51, up 16 pct after market

The health information provider said on Tuesday Chief Executive Cavan Redmond will be leaving the company, less than a year after the former Pfizer Inc executive was appointed to turn around the company’s fortunes.

The company’s first-quarter net loss narrowed to 3 cents per share from a year earlier.

** VALUECLICK INC, Tuesday close $31.74, down 19 pct premarket

The online marketing services provider forecast second-quarter sales well below market estimates on Tuesday as it integrates its marketing, media and global service offerings.

** WENDY‘S CO, Tuesday close $6.12

The second-largest U.S. hamburger chain reported a 2 percent rise in quarterly sales as its new menu worked well with diners.

** KINROSS GOLD CORP, Tuesday close $5.28

Canada’s Kinross Gold Corp reported slightly lower adjusted first quarter earnings on Tuesday as its margins slipped, even as revenue edged higher.

** ING GROEP, Tuesday close $8.59, up 2.7 pct premarket

The Dutch banking and insurance group reported a first-quarter net profit broadly in line with forecasts, boosted by divestments, and said it plans to push ahead with the initial public offering of its European insurance unit in 2014. [ID;nL6N0DP0AT]

** ENBRIDGE INC, Tuesday close $47.33

Canada’s largest pipeline company reported a 31 percent rise in first-quarter adjusted profit, driven by higher volumes.

The company said on Tuesday it shut its 210,000 barrel-per-day North Dakota pipeline for the second time in less than a week after finding contaminated soil during integrity checks.

** WALT DISNEY CO, Tuesday close $66.07

The media giant reported a 32 percent increase in profit that beat Wall Street expectations on Tuesday, boosted by higher spending and attendance at U.S. theme parks, and the movie box office success of “Oz the Great and Powerful.”

** TELECOM ITALIA, Tuesday close $8.26, down 2 pct premarket

Sources said the board will likely put off a decision on whether to start formal merger talks with Hutchison Whampoa at a meeting on Wednesday.

** ZILLOW INC, Tuesday close $62.94, down 7 pct premarket

The real estate website raised its full-year revenue forecast, but said it would increase its marketing spend and that would hurt its profitability.

“Zillow’s investment in its brand advertising campaign is likely to keep EBITDA somewhat depressed going forward and this could lead to some near-term choppiness in the stock,” JMP Securities said. It, however, added that this was the right thing to do in the long term as Zillow focuses on gaining market share.

Goldman Sachs cut its rating on the company’s stock to “neutral,” the reported.

** YAHOO INC, Tuesday close $26.07, up 0.7 pct premarket

Several brokerages raised their price targets on the stock after Yahoo, which has an about 24 percent stake in Alibaba Group Holding Ltd, released Alibaba’s quarterly numbers. Chinese e-commerce firm Alibaba’s fourth-quarter net profit jumped 171.1 percent and revenue rose 84 percent.

“The value of the Alibaba asset is rapidly increasing toward $100 billion, far above our prior assumptions,” Stifel Nicolaus said and raised its stock price target on the Yahoo stock to $31 from $27. Pivotal Research Group and BofA Merrill Lynch also raised their stock price targets.

** DAVITA HEALTHCARE PARTNERS INC, Tuesday close $117.56, up 3 pct premarket

Warren Buffett’s Berkshire Hathaway Inc, the largest investor in DaVita HealthCare, has entered an agreement allowing it to nearly double its stake in the largest U.S. operator of dialysis clinics to 25 percent, according to a regulatory filing on Tuesday.

** APOLLO GLOBAL MANAGEMENT LLC, Tuesday close $27.14

The alternative asset manager’s cornerstone investors and two of its founders are selling a slice of their shares, demonstrating how going public makes it easier for dealmakers at alternative asset managers to cash out on their holdings.

** MCKESSON CORP, Tuesday close $108.63

The drug wholesaler reported a smaller-than-expected fourth-quarter profit on Tuesday, but forecast strong 2014 adjusted earnings as it expects its technology solutions business and the acquisition of smaller peer PSS World Medical to significantly contribute to growth.

** TOYOTA MOTOR CORP, Tuesday close $116.08, up 2.4 pct premarket

Toyota more than doubled its fourth-quarter net profit as the yen’s depreciation helped the automaker export more profitably and U.S. sales of the Avalon sedan and Tacoma truck were strong.

** J.C. PENNEY CO INC, Tuesday close $15.40

The department store chain on Tuesday said that same-store sales in the first quarter of the fiscal year fell 16.6 percent.

** MONDELEZ INTERNATIONAL INC, Tuesday close $31.41

The packaged foods maker posted slightly better-than-expected quarterly results on Tuesday and raised its full-year earnings forecast due to a benefit from a tax item, but said it was keeping some of that benefit in reserve to guard against future market volatility.

** RIO TINTO, Tuesday close $47.46

The world’s No. 2 iron ore miner is keeping output expansion plans for the steelmaking raw material intact, with global demand led by top market China likely to keep growing, albeit at a slower pace, a senior company official said.

** ELBIT SYSTEMS, Tuesday close $42.25

The Israeli defence contractor fended off a fall in revenue by cutting costs in the first quarter and said it was confident it can sustain improvement this year despite falling public spending in some key markets.

** TALISMAN ENERGY INC, Tuesday close $11.63

The Canadian oil and gas producer said it agreed to sell its shale gas operations in Poland to joint venture partner San Leon Energy as it looks to boost production in its core areas of the Americas and Asia-Pacific.

** SANDRIDGE ENERGY INC, Tuesday close $5.39

SandRidge said its board, which now includes directors named by activist investors, has cut spending and the U.S. oil and gas company will now focus on drilling its most productive acreage in the Mississippian formation.

** EXXON MOBIL CORP, Tuesday close $91.15

Exxon said on Tuesday it is starting a $4 billion project to develop the Julia oilfield in the Gulf of Mexico.

** WI-LAN INC, Tuesday close $4.07

The patent licensing company forecast lower results for the second quarter due to expenses related to its ongoing patent infringement litigations. After one-time adjustments, the company expects results to range from a loss of $1 million to a profit $1 million. Revenue is expected to fall about 5 percent from the first quarter to $17.5 million.

** 3D SYSTEMS CORP, Tuesday close $42.62, down 7 pct after market

The company, which makes printers for 3D printing, said it would raise about $250 million from a public offering of its shares. Some of the company’s stockholders have also offered a total of about 1.3 million shares.

** WHOLE FOODS MARKET INC, Tuesday close $92.80, up 8 pct premarket

The largest U.S. natural and organic grocery chain said on Tuesday store sales have rebounded as it expands efforts to lower prices and reach beyond its core of upscale shoppers by adding more locations.

** SYMANTEC CORP, Tuesday close $25.10, down 4.8 pct premarket

The maker of the Norton anti-virus software on Tuesday reported a bigger-than-expected quarterly profit, but forecast first-quarter results well below analysts’ estimates due to a weak Japanese yen.

** COGNIZANT TECHNOLOGY SOLUTIONS CORP, Tuesday close $64.88, up 5.6 pct premarket

The IT services provider forecast current-quarter revenue above market expectations after an 18 percent rise in the first quarter, helped by strong demand from Europe.

** HEALTH CARE REIT INC, Tuesday close $75.62

Health Care REIT said it will acquire a 75 percent stake in privately held Canadian senior living services provider Revera Inc’s $1.35 billion housing community portfolio.

** MCDONALD‘S, Tuesday close $192.29

The fast food company said on Wednesday that April sales at its established restaurants around the world declined 0.6 percent amid tough competition to attract frugal diners who are shopping around for the best deals.

** BANK OF AMERICA CORP, Tuesday close $12.90

Bank of America hosts its annual shareholder meeting in Charlotte, where the No. 2 US bank will hold a vote on a revamped slate of directors and likely will face protests over mortgages and environmental concerns.

** CSX CORP, Tuesday close $25.33

The No. 2 U.S. railroad will host its annual shareholder meeting.

** MYRIAD GENETICS INC, Tuesday close $28.30, up 10 pct after market

The company reported better-than-expected quarterly results, helped by a rise in molecular diagnostic testing revenue, and it raised its full-year earnings and profit forecast.

Mizuho Securities USA upgraded its rating on the Myriad stock to “buy” from “neutral” and raised its price target to $34 from $27.

** RUBICON TECHNOLOGY INC, Tuesday close $7.16, down 12 pct after market

The electronic material provider on Tuesday reported a bigger-than-expected quarterly loss due to weak sales of its six-inch wafers to key customers, who had excess inventory. The company also forecast a current-quarter loss much higher than analysts’ estimates as it expects weakness in wafer sales to continue. (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Maju Samuel)

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