October 14, 2013 / 1:21 PM / in 4 years

MARKET PULSE- Facebook, AMD, Netflix, Merck, Newmont Mining, Mannkind

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

Wall Street was set for a lower open on Monday, focused on events in Washington after weekend talks between Republicans and Democrats showed some progress but left alive the risk of a possible U.S. default in three days, pressuring stocks. S&P 500 futures fell 12.5 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 106 points and Nasdaq 100 futures lost 19.25 points.

** FACEBOOK INC, Friday close $49.11, down 1.5 pct premarket

The social networking company said it would buy start-up app-maker Onavo, the Israeli firm said on its website, without giving any details of the deal. Facebook is paying between $150 million and $200 million, the Calcalist financial news website reported, making it the social media company’s biggest acquisition in Israel.

** NETFLIX INC, Friday close $300.84, up 3 pct premarket

The company is in talks with several U.S. cable television companies including Comcast Corp and Suddenlink Communications to make its streaming video service available through their set-top boxes, the Wall Street Journal reported on Sunday, citing people familiar with the matter.

** MERCK & CO INC, Friday close 47.29, down 1 pct premarket

The German drugs and healthcare group is in talks with external investors including private equity firms to share the cost of some clinical trials, the Financial Times reported, citing a senior manager at the company.

** ADVANCED MICRO DEVICES, Friday close $3.83, up 1 pct premarket

Brokerage Wedbush Securities upgraded the chipmaker’s stock to “outperform” from “neutral,” saying AMD will benefit from the launch of gaming consoles in the near term. The brokerage also expects the company to gain market share in servers. Wedbush raised its price target on the stock to $5.00 from $4.50.

** NEWMONT MINING CORP, Friday close $25.62, up 1 pct premarket

HSBC Securities raised its price target on the gold miner’s stock to $37.30 from $36.50, maintaining its “overweight” rating.

Spot gold prices rose 0.7 percent to $1,281.96 an ounce by 1135 GMT on Monday as the U.S. fiscal impasse remained unresolved.

** ARCELORMITTAL SA, Friday close $14.91, up 2.21 pct premarket

Analysts at Macquarie Equities Research raised their rating on the world’s largest steelmaker’s stock to “outperform” from “neutral,” according to Theflyonthewall.com.

** EXPEDIA INC, Friday close $51.73, down 2 pct premarket

Deutsche Bank cut its rating on the online travel agency’s stock to “hold” from “buy,” according to Theflyonthewall.com.

** PEABODY ENERGY CORP, Friday close $17.40

The company said it had temporarily shut down operations at its Metropolitan coal mine in Queensland, Australia, pre-empting a planned strike by workers after a stand-off over a new employment contract.

** TORONTO-DOMINION BANK, Friday close $89.35

The Canadian bank is considering an 8 billion pound ($13 billion) bid for Royal Bank of Scotland’s American retail banking business Citizens, The Sunday Times reported, without citing sources.

** GENERAL MOTORS CO, Friday close $35.35, down 1 pct premarket

** TESLA MOTORS INC, Friday close $178.70, up 1.6 pct premarket

General Motors will go head to head with electric car maker Tesla Motors starting in January, when a plug-in version of its luxury Cadillac brand will go on sale. GM said its 2014 Cadillac ELR plug-in coupe will have a starting price of almost $76,000 including delivery fees - putting it in competition with the similarly priced Tesla Model S.

** SUPERIOR ENERGY SERVICES INC, Friday close $25.87, down 3 pct premarket

The oilfield services company said it expected third-quarter earnings to fall to between 39 cents and 41 cents per share from 59 cents a year earlier due to a slowdown in land drilling in the United States. Superior Energy also said its board authorized a share buyback program of up to $400 million.

** MANNKIND CORP, Friday close $5.11, up 3.3 pct premarket

The drugmaker resubmitted the application for approval to its insulin therapy, Afrezza, to the U.S. health regulator based on clinical development data, including the results of two recent late-stage trials in patients with type 1 and type 2 diabetes, respectively.

The drug device, designed to improve glycemic control, comprises the Afrezza inhalation powder and an inhaler to administer it.

** GILEAD SCIENCES INC, Friday close $62.69

Leerink Swann raised its price target on the drugmaker’s stock to $77 from $70, saying it was adding $1 billion to its previous 2014 sales estimate of $2 billion for the company’s chronic hepatitis C drug, sofosbuvir. Leerink analysts cited a large market opportunity for sofosbuvir in treating hepatitis C virus infection in liver transplant patients.

** ARATANA THERAPEUTICS INC, Friday close $23.49

The pet medication products maker said it would buy privately-held Vet Therapeutics Inc in cash and stock to expand in products to treat lymphoma in dogs. The company will pay $30 million in cash and issue about 625,000 shares to buy Vet Therapeutics.

** THERAVANCE INC, Friday close $36.27

Cowen and Co analysts said a panel of respiratory experts at its Therapeutic Categories conference were enthusiastic about Theravance’s respiratory drugs, including Anoro, which they expect “will take significant share away from drugs such as Boehringer’s Spiriva.” The analysts said they now expected sales of Theravance and GlaxoSmithKline Plc’s co-developed drugs, Breo and Anoro, to grow to $3 billion and $2.4 billion, respectively, by 2018.

** ARIAD PHARMACEUTICALS INC, Friday close $4.26, down 0.7 pct after market

The U.S. Food and Drug Administration said it is investigating an increasing number of reports of serious and life-threatening adverse events in patients taking the company’s leukemia drug, Iclusig. (Compiled by Sneha Banerjee in Bangalore; Editing by Kirti Pandey)

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