January 21, 2014 / 3:02 PM / in 4 years

MARKET PULSE-Amarin, Dow Chemical, BlackBerry, Alcoa, Sarepta, Gap

(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/nex49s) U.S. stocks rose on Tuesday, putting the S&P 500 on track to snap a two-session losing streak after a flurry of corporate earnings reports. Dow Jones industrial average futures were up 0.14 percent at 16,420, S&P 500 futures were up 0.40 percent at 1,841.7 and Nasdaq 100 futures were up 0.70 percent at 3,610.

** YRC WORLDWIDE INC, $18.15, +14.73 pct

The trucking company and the Teamsters union reached a tentative deal for a new labor contract that sets the stage for the struggling company to push ahead with a refinancing plan.

The Teamsters will review the contract on Tuesday.

** FOREST LABORATORIES INC, $71.12, +3.46 pct

The drug company’s results handily beat analysts’ estimates in the first full quarter under new Chief Executive Brent Saunders, and the company raised its full-year profit forecast.

** BLACKBERRY INC, $9.75, +7.38 pct

The struggling smartphone maker’s Toronto Stock Exchange-listed shares jumped 8.2 percent on Monday as short positions in the stock waned and after Pentagon said last week the company’s devices were a core part of its mobile strategy.

** DOW CHEMICAL CO, $45.3, +5.18 pct

Activist investor and hedge fund manager Daniel Loeb has taken a stake in the U.S. chemical maker and wants the company to spin off its petrochemical arm, according to a letter to investors seen by Reuters.

** ALCOA INC, $12.15, +6.95 pct

JPMorgan analysts raised their rating on the aluminum producer’s stock to “overweight” from “neutral,” citing reduced estimates for 2014 global surplus. Analysts also raised their 2014 and 2015 earnings estimate for Alcoa.

** SAREPTA THERAPEUTICS INC, $28.7, +7.17 pct

Needham & Co analyst Chad Messer raised the company’s stock to “buy” from “hold,” saying he believed its drug to treat a rare muscular disorder was safe and effective, and would be approved by U.S. health regulators.

Messer said positive data last week from a mid-stage trial showed it was likely that the drug was active. He said he expected Sarepta to run a late-stage trial before filing for approval.

The U.S. Food and Drug Administration said in November that the design and goals of Sarepta’s current trial might not be sufficient to win marketing approval for the drug, eteplirsen.

** AMARIN CORP PLC, $1.75, -22.91 pct

U.S. health regulators rejected a preset testing process as the Irish drugmaker seeks broader use of its blood fat-lowering drug. The company said it planned to appeal the decision, but that it did not expect a decision on the extended use of the drug while the appeal is pending.

** AES CORP, $14.49, +1.33 pct

French utility GDF Suez SA’s financial advisers have reviewed a number of sizeable possible acquisitions, including U.S.-based utility AES Corp, Reuters reported on Monday.

The French company has rejected media reports about preparations for a multi-billion dollar takeover.


The Chinese solar company said that China’s government allowed its unit Yingli Energy (China) Co Ltd to contract foreign engineering projects. The company can now enter into contracts for large projects overseas and send workers abroad for projects.

** VERIZON COMMUNICATIONS INC, $47.97, -0.79 pct

The company said its quarterly revenue rose 3.4 percent as it added more wireless subscribers than expected at its Verizon Wireless venture with Vodafone Group Plc.

** AFFYMETRIX INC, $9.59, +3.56 pct

The company said it received clearance from the U.S. health regulator to market its genomic test to help doctors diagnose developmental and intellectual disabilities in children.

** GENERAL ELECTRIC CO, $26.52, -0.23 pct

** CAMERON INTERNATIONAL CORP, $59.54, +1.45 pct

GE agreed to buy flow equipment provider Cameron International Corp’s reciprocating compression division for $550 million as it looks to benefit from the boom in the development of shale oil and gas fields.

** BAKER HUGHES INC, $55.71, +2.90 pct

The world’s third-largest oilfield services company reported a slightly higher-than-expected quarterly profit, helped by a rise in revenue from the Middle East and Africa.

** 3D SYSTEMS CORP, $87.18, -3.70 pct

Credit Suisse downgraded the 3D printer maker’s stock to “neutral” from “outperform,” while upgrading rival Stratasys’s stock. Credit Suisse said 3D Systems’ stock trades at a significant premium to Stratasys shares, which was unjustified because of the two companies’ similar scale, and Stratasys’s “superior consumer and prosumer positioning.”

** NU SKIN ENTERPRISES, $82.23, +3.47 pct

The skincare products maker said it would suspend promotional meetings where it recruits new distributors in China, days after Chinese regulators launched probes into its business practices. The company said in a letter to customers on Tuesday that an internal investigation found instances where some of its sales representatives had failed to “adequately follow and enforce our policies and regulations.”

** CHESAPEAKE ENERGY, $26.14, +2.71 pct

Analysts at Suntrust Robinson Humphrey upgraded the oil and gas producer’s stock to “buy” from “neutral” and raised their price target to $35 from $28, citing the company’s holdings in the rich shale fields of Utica, Marcellus and Eagle Ford. “Investor focus has been on Chesapeake’s outspend and other prior issues, while ignoring the company’s leading positions in three of the most economic U.S. plays,” the analysts said in a note.

** GAP INC, $38.69, +3.73 pct

Brokerage Sterne Agee & Leach raised its price target on the apparel retailer’s stock to $44 from $38, saying the company’s U.S. holiday season performance was strong, in contrast to other retailers who struggled to boost sales during the period.

** DELTA AIR LINES INC, $32.04, +3.12 pct

The U.S. carrier reported a higher-than-expected fourth-quarter profit, aided by lower fuel costs.

** NOVO NORDISK A/S, $38.73, +1.65 pct

The Danish pharmaceuticals company launched NovoFine Plus, an ultra-thin, ultra-short pen needle aimed at making insulin injections more comfortable for diabetes patients, the company said on Monday.

** ACTAVIS PLC, $185.04, +0.96 pct

Indian drugmaker Aurobindo Pharma Ltd said it agreed to buy the company’s commercial operations in seven Western European countries for about 30 million euros ($41 million).

** BOEING CO, $142.14, +1.20 pct

GECAS, the world’s largest aircraft leasing company, announced an order for 40 Boeing medium-haul passenger jets on Monday, in a fresh boost for the U.S. planemaker’s best-selling model.

** AGRIUM INC, $93.83, -0.05 pct

The Canadian fertilizer company said its fourth quarter earnings from continuing operations would be at the lower end of its guidance due to lower sales prices. The company cited lower-than-expected sales prices in wholesale nutrients and reduced domestic sales volumes of potash, partly due to issues faced with rail shipments.

** ANHEUSER-BUSCH INBEV SA, $103.83, +2.33 pct

The world’s biggest brewer agreed to buy back South Korea’s Oriental Brewery Co Ltd for $5.8 billion including debt, returning to a large Asian market at a time of strong industry growth across the region. (Compiled by Neha Dimri in Bangalore; Edited by Kirti Pandey)

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