February 24, 2014 / 3:08 PM / 4 years ago

MARKET PULSE-Triquint, Jos A Bank, BlackBerry, eBay, Trex, Pfizer

(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 opened slightly higher on Monday, led by energy and healthcare shares, with the S&P 500 nearing resistance at its record high set last month. The Dow Jones industrial average was up 0.75 percent at 16,224.39, the S&P 500 was up 0.75 percent at 1,849.99 and the Nasdaq Composite was up 0.77 percent at 4296.08.

** TRIQUINT SEMICONDUCTOR INC, $10.99, +19.07 pct

** RF MICRO DEVICES INC, $6.68, +14.97 pct

Radio frequency chipmaker RF Micro Devices will buy peer TriQuint Semiconductor for about $1.6 billion in an all-stock deal to create a company that could better compete in selling chips to mobile-handset makers.

** MEN‘S WEARHOUSE INC, $48.37, +7.23 pct

** JOS. A. BANK CLOTHIERS INC, $59.5, +8.08 pct

Men’s Wearhouse raised its offer for Jos. A. Bank Clothiers by over 10 percent, nearly two weeks after its smaller rival looked to fend off the unsolicited bid by agreeing to acquire Eddie Bauer.

** BLACKBERRY LTD, $9.7, +6.13 pct

The handset maker said it would make its messaging service, BBM, available to Microsoft’s Windows Phone and the upcoming Nokia X platforms in the coming months.

** EBAY INC, $56.4599, +3.43 pct

Billionaire investor Carl Icahn accused eBay Chief Executive John Donahoe of failing to spot - or ignoring - conflicts of interest on the company’s board and called again for the spinoff of its fast-growing PayPal division.

Icahn, who also disclosed a 2.15 percent stake in the e-commerce giant, said in a letter to eBay shareholders on Monday that he had found “multiple lapses in corporate governance” that “could put the future of the company in peril.”

** APPLE INC, $528.21, +0.56 pct

A major flaw in Apple software for mobile devices could allow hackers to intercept email and other communications that are meant to be encrypted, the company said on Friday, and experts said Mac computers were even more exposed.

** TREX CO INC, $78.63, +14.96 pct

The maker of wood and plastic composite products reported a 38 percent jump in fourth-quarter revenue due to higher demand in a recovering U.S. housing market.

** STANDARD MOTOR PRODUCTS INC, $35.84, +11.44 pct

The maker of replacement parts for motor vehicles reported fourth-quarter results that beat analysts’ average estimate as sales in its engine management business rose 6.9 percent. The company also announced stock buyback of up to an additional $10 million.

** PFIZER INC, $31.86, +1.27 pct

The drugmaker said Prevenar 13, a drug widely used to prevent infection in children, showed in a study of 85,000 people that it prevented community-acquired pneumonia in individuals age 65 and older.

** GT ADVANCED TECHNOLOGIES INC, $13.1304, +8.43 pct

The solar and LED equipment maker said it could turn profitable in the second half of this year, after reporting a smaller-than-expected loss for the fourth quarter ended Dec. 31. The company, which will open a manufacturing facility in Arizona to make sapphire materials for Apple Inc’s electronics devices, said about 80 percent of its revenue in 2014 will come from the sapphire business, which makes materials used to manufacture LED chips.

** SYNTA PHARMACEUTICALS CORP, $6.6567, +3.36 pct

The company said two of its cancer compounds demonstrated anti-tumour activity in multiple animal trials.


The company, which makes floors and ceilings, reported a fourth-quarter profit well below analysts’ estimates as costs rose 10.5 percent.

** NOKIA CORP, $7.51, +0.67 pct

** MICROSOFT CORP, $37.8449, -0.36 pct

** GOOGLE INC, $1,213.79, +0.83 pct

The handset maker soon to be acquired by Microsoft is turning to software created by arch-rival Google for a new line of phones it hopes will make it a late contender in the dynamic low-cost smartphone market.

** CHESAPEAKE ENERGY CORP, $27.23, +2.48 pct

The natural gas producer said it was pursuing strategic alternatives for its oilfield services division, including an outright sale or a potential spinoff to Chesapeake shareholders.

** CANADIAN SOLAR INC, $39.59, +4.82 pct

The solar company said it would supply 18 megawatts of panels to Japanese electronics maker Hitachi Ltd for a power project. In a separate deal, Canadian Solar said it would supply panels to privately held Strata Solar to power five power projects in North Carolina totaling 30 megawatts

Analysts at JP Morgan Securities began their coverage of Canadian Solar’s stock with an “overweight” rating and a price target of $50, citing the company’s project pipeline for this year, which could push margins high. Canadian Solar’s profit is likely to rise four-fold to $4.31 per share this year on an 87 percent rise in revenue, the analysts wrote in a note to clients.

** SINA CORP, $76.015, +4.20 pct

The online media firm has hired Credit Suisse AG and Goldman Sachs for a U.S. initial public offering worth about $500 million of its Sina Weibo microblogging service, a source familiar with the plans said on Monday.

** AU OPTRONICS CORP, $3.32, +4.40 pct

Innolux Corp, the world’s No.3 flat-panel maker, declined to rule out a potential merger with smaller rival AU Optronics, but a fund manager said such a potential merger may not be realized soon. (Compiled by Shailaja Sharma in Bangalore; Editing by Don Sebastian)

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