July 1, 2013 / 1:23 PM / in 4 years

MARKET PULSE-Onyx Pharmaceuticals, BlackBerry, Apple, News Corp

(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter link.reuters.com/zaq39t)

July 1 (Reuters) - Some U.S. stocks to watch on Monday:


U.S. stock index futures rose, indicating that equities would start the second half of the year by building on the strongest first half of any year since 1998. S&P 500 futures were up 7.9 points, Dow Jones industrial average futures up 82 points and Nasdaq 100 futures up 16.75 points.

** ONYX PHARMACEUTICALS INC, Friday close $86.82, up 50 pct premarket

The cancer drugmaker said on Sunday it rejected a roughly $10 billion takeover offer from larger biotechnology company Amgen Inc as too low but was still considering selling itself. Canaccord Genuity raised the price target on Onyx’s stock to $140 from $105.

** ACURA PHARMACEUTICALS INC, Friday close $1.88, up 19 pct premarket

The company said partner Pfizer Inc will expand the marketing of its pain drug, Oxecta, in the fourth quarter. Acura receives tiered royalties ranging from 5 percent to 25 percent on net sales of the drug, which was developed using its technology.

** INSMED INC, Friday close $11.96, down 26 pct premarket

The company’s experimental lung infection drug did not fare as well as a competing drug developed by Novartis AG in a lung function test.

** BLACKBERRY , Friday close $10.46, down 4.6 pct premarket

Needham & Co and Societe Generale downgraded the smartphone maker’s stock, while UBS Investment Research, Jefferies & Co and Canaccord Genuity cut their price targets. The company’s total market value plunged by more than one-fourth on Friday after the smartphone maker reported dismal quarterly results, prompting deeper skepticism about a long-promised turnaround.

** APPLE INC, Friday close $396.53, up 1.3 pct premarket

Apple has applied for a trademark for “iWatch” in Japan, a patent official said on Monday, signalling the iPhone maker may be moving ahead with plans for a watch-like device as gadget makers turn their attention to wearable computers.

** CITIGROUP INC, Friday close $47.97, up 1 pct premarket

Citigroup will pay Fannie Mae $968 million to resolve potential mortgage repurchase claims for breaches of representations on loans sold to Fannie Mae between 2000 and 2012.

** INTERDIGITAL INC, Friday close $44.65, down 17 pct after market

InterDigital lost the first round of its case against Huawei Technologies, Nokia Corp and ZTE Corp , after a judge at the International Trade Commission said on Friday in a preliminary decision that they did not violate cell phone patents owned by InterDigital.

** COVIDIEN PLC, Friday close $62.85, down 8 pct premarket

Jefferies & Co cut its target price on the medical device maker’s stock to $62 from $75 while retaining its “buy” rating, citing a slowing in sales of Covidien’s vascular systems and the company’s cautious outlook.

** FORD MOTOR CO, Friday close 15.47, up 1 pct premarket

U.S. safety regulators closed an investigation into defective engine cables in more than 467,000 Ford Taurus and Mercury Sable cars after Ford said it would fix the problem without issuing a recall.

** CHINA SUNERGY CO LTD, Friday close $2.12, up 4.4 pct premarket

The solar panel maker reported higher first-quarter shipments due to increased demand from France, its largest market, and said it expects margins to expand in the current quarter.

** INTUIT INC, Friday close $61.04, up 1.4 pct premarket

The maker of tax-preparation software TurboTax said it would sell its financial services unit to private equity firm Thoma Bravo for $1.03 billion as it focuses on its core tax-preparation software business.

** MERCK & CO INC, Friday close $46.45

Merck said the U.S. Food and Drug Administration rejected the company’s experimental insomnia drug, citing safety issues.

** FLEEMATICS GROUP PLC, Friday close $33.23, down 2.5 pct after market

The fleet management software maker said on Friday it will sell 1 million shares and its CEO and other shareholders will sell 7 million shares.

** BEST BUY CO INC, Friday close $27.33, up 3 pct premarket

Credit Suisse resumed its coverage of the U.S. retailer by raising it target price on the stock to $40 from $32. “... The most important new game changer is the vendor agreements (with Microsoft Corp and Samsung Electronics Co Ltd ) to operate within Best Buy stores,” analysts wrote in a note to clients.

** NEWS CORP, Friday close $15.25, up 3.6 pct premarket


The publishing concern, which includes the Wall Street Journal and HarperCollins, will be a test for investors and their appetite for print assets when 21st Century Fox, the fast-growing entertainment business, will begin trading as a separate company on the Nasdaq on Monday. Both stocks started trading on a preliminary basis on June 19.

** SONY CORP, Friday close $21.19

Sony, which is studying a partial spinoff of its studio at the urging of major shareholder Daniel Loeb, suffered its second box office misfire of the summer season when its action movie “White House Down” opened with ticket sales below industry forecasts.

** INTEL CORP, Friday close $24.23

A gas leak at Intel’s second-biggest manufacturing plant, located in Chandler, Arizona, sickened up to 43 people, including 11 who were taken to a local hospital, company and local fire officials said on Saturday.

** BLACKSTONE GROUP LP, Friday close $21.06

Private equity firms Blackstone and Lion Capital have teamed up to make a formal bid worth more than a billion pounds for Lucozade and Ribena, the two soft drink brands put up for sale by drugmaker GlaxoSmithKline, Sky News reported on Sunday. (Compiled by Kanika Sikka; Editing by Don Sebastian)

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