June 13, 2013 / 11:38 AM / in 4 years

MARKET PULSE-Spreadtrum, Safeway, PVH, Coty, First Solar

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June 13 (Reuters) - Some U.S. stocks to watch on Thursday:


Index futures pointed to a lower opening for U.S. stocks on Thursday. S&P 500 futures were down 0.29 percent, Dow Jones industrial average futures were down 0.55 percent and Nasdaq 100 futures fell 0.26 percent.

** SPREADTRUM COMMUNICATIONS INC, Wednesday close $18.95, up 24 pct after market

The cellphone chip designer raised its revenue estimates for the current quarter due to higher demand from low-cost smartphone makers. The China-based company now expects revenue of between $270 million and $278 million for the quarter ending June 30, up from the $220 million to $228 million it forecast earlier.

** FIRST SOLAR INC, Wednesday close $46.66, down 2 pct

The solar module maker priced a public offering of 8.5 million shares at $46 per share. The company said it will use the proceeds for general corporate purposes, including acquisitions of projects under development, and capital expenditure or strategic investments to develop certain business units and expand in new regions.

** SAFEWAY INC, $23.11, up 19.4 pct premarket

Empire Co Ltd, the operator of Canadian grocery chain Sobeys, said it was acquiring Safeway’s assets in Canada for $5.7 billion in a move that will nearly double its reach in the country’s western provinces.

The C$5.8 billion deal, Canada’s biggest so far this year, resulted in generous premiums for Safeway, which said it would use the proceeds to pay down debt and buy back shares.

J.P. Morgan Securities and Guggenheim Securities raised their price target on Safeway’s stock on Thursday.

** PVH CORP, Wednesday close $111.28, up 8 pct after market

The clothing maker reported better-than-expected quarterly results, helped by higher sales at its Calvin Klein and Tommy Hilfiger businesses.

** NORTHSTAR REALTY FINANCE CORP, Wednesday close $8.32, up 4.6 pct after market

The diversified commercial real estate investment company said its operating partnership had commenced a private offering of exchangeable senior notes due 2033. Total principal amount of the notes is $300 million.

** DISH NETWORK CORP, Wednesday close $37.71, up 3.8 pct after market

** CLEARWIRE CORP, Wednesday close $4.37

** SPRINT NEXTEL CORP, Wednesday close $7.35

Clearwire’s board urged shareholders on Wednesday to accept a tender offer from Dish over an earlier deal with majority owner Sprint to buy out the minority shareholders of the wireless service provider. The decision was a boost for Dish Chairman Charlie Ergen who is also in a takeover battle with SoftBank Corp to take full control of Sprint.

Clearwire shareholders are scheduled to vote on majority owner Sprint Nextel’s offer to buy the rest of the company for $3.40 per share at a special shareholder meeting unless Clearwire’s special committee decides that a $4.40 per share rival bid by Dish Network is superior or Sprint changes its bid.

** MEN‘S WEARHOUSE INC,, Wednesday close $35.59, up 4 pct after market

The clothing retailer reported first-quarter results that beat analysts’ estimates as more customers visited its namesake store. The company also reaffirmed its full-year profit outlook.

Gross margins were up 9.4 percent in the quarter, helped by a 25 percent rise in revenue from its Tuxedo rental business.

** HALCON RESOURCES CORP, Wednesday close $5.13, down 3.5 pct aftermarket

The oil and gas producer announced an underwritten public offerring of $300 million in perpetual convertible preferred stock.

The Houston, Texas-based company said it planned to use the proceeds to repay debt under its senior secured revolving credit facility.

** FIVE BELOW INC, Wednesday close $35.4, up 2 pct after market

The specialty value retailer reported first-quarter profit above market estimates as more customers visited its stores. The company also raised its full-year outlook.

** LOCKHEED MARTIN CORP, Wednesday close $107.05

** BOEING CO, Wednesday close $100.88, down 0.5 pct premarket

U.S. regulators have opened a probe into whether United Launch Alliance (ULA), a Lockheed-Boeing joint venture that launches U.S. government satellites into space, has flouted antitrust laws.

The Federal Trade Commission (FTC) is investigating whether ULA violated federal antitrust laws by “monopolizing” or restraining competition through an exclusivity agreement with the maker of the engines used in its rockets, according to a FTC document obtained by Reuters on Wednesday.

** LULULEMON ATHLETICA INC , Wednesday close $64.30

The yogawear maker’s Chairman Dennis “Chip” Wilson sold stock worth $50 million days before shares slumped on the news of Chief Executive Christine Day’s surprise departure.


Trade union workers at the Freeport mine in Indonesia will stop work indefinitely from Friday if the company does not suspend those suspected of being at fault for a deadly tunnel collapse last month, a union official said.

** NEWS CORP, Wednesday close $30.94

** COMCAST CORP, Wednesday close, $39.52

U.S. broadcast networks Fox, owned by News Corp and NBC, a unit of Comcast, are close to wrapping up their advance sales for commercial time for the upcoming fall season and have narrowly beaten analysts’ expectations with rate increases of as much as 7 percent over last year, sources familiar with the negotiations said on Wednesday.

** SOUTHWEST AIRLINES CO, Wednesday close $16.87

** US AIRWAYS GROUP INC, Wednesday close $16.88

Executives from U.S. airlines Southwest, United and US Airways are likely to discuss demand trends and outlook at the Deutsche Bank Global Industrials and Basic Materials Conference in Chicago.

** EXXON MOBIL CORP, Wednesday close $89.74, down 0.5 pct premarket

Rex Tillerson, CEO of Exxon Mobil, and Carlos Pascual, a key player in the State Department’s energy affairs division, headline a conference in Washington on “Fueling the Future: the U.S., Asia and Energy Security.” Also on the bill is oil economist Daniel Yergin.

** COTY INC, $17.50 (IPO)

The maker of celebrity perfumes priced its initial public offering at $17.50 a share, in the middle of the expected range, a source briefed on the matter said, as it went public amid a recent surge in beauty company stock values. (Compiled by; Editing by)

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