April 8, 2014 / 11:49 AM / in 4 years

MARKET PULSE-Gigamon, BlackBerry, James River Coal, Ctrip.com

(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. stock index futures slipped on Tuesday, indicating the S&P will remain under pressure for a fourth straight day, as investors look to the start of corporate earnings season. Dow Jones industrial average futures were up 0.11 percent at 16,196, S&P 500 futures were down 0.14 percent at 1,835.6 and Nasdaq 100 futures were down 0.01 percent at 3,499.

** GIGAMON INC, Monday close $26.2, -25.19 pct premarket

The company, which makes network traffic management software, estimated lower-than-expected first-quarter revenue, blaming cancellation of a large contract and delays in closing some contracts.

** JAMES RIVER COAL CO, Monday close $26.9, -54.99 pct premarket

The company filed for Chapter 11 bankruptcy protection after struggling with a steep drop in prices and demand for both thermal and steel-making coal.

** CITIGROUP INC, Monday close $46.55, -0.11 pct premarket

The U.S. bank is warning investors it may miss a key profitability target after the Federal Reserve rejected the bank's capital plan last month, the Wall Street Journal reported, citing people familiar with the matter. (link.reuters.com/syr38v)

The lender said on Monday it would pay $1.12 billion in cash to settle legacy securities and other claims and incur a related charge of $100 million in the first quarter.

Citigroup also said it would close almost one third of its branches in Korea, becoming the third global bank to trim its presence in the country in the last year amid rising costs and intense competition.

** BLACKBERRY LTD, Monday close $7.86, +3.56 pct premarket

A federal jury in Florida on Monday ruled in favor of BlackBerry in a lawsuit accusing the company of infringing three patents belonging to Dutch semiconductor company NXP BV.

** NOKIA OYJ, Monday close $7.22, +3.88 pct premarket

Nokia has received approval from Chinese authorities to sell its mobile phone business to Microsoft , it said late on Tuesday. The company expects the deal to close in April.

** A. SCHULMAN INC, Monday close $36.32, +5.58 pct after market

The specialty chemical maker raised its full-year profit outlook, topping the average analyst expectation, citing strengthening demand in Europe and relatively stable raw material prices.

** QUNAR CAYMAN ISLANDS LTD, Monday close $26.9

** CTRIP.COM INTERNATIONAL LTD, Monday close $50.25, +4.98 pct premarket

Qunar Cayman Islands, the operator of Baidu Inc’s travel website, is in talks with Ctrip.com for a merger or partnership, Bloomberg reported, citing two people familiar with the matter.

** ELI LILLY AND CO, Monday close $58.62, +1.9 pct after market

Eli Lilly, Takeda Pharmaceutical Co Ltd’s co-defendant in a case alleging that Japan’s largest drugmaker had concealed cancer risks associated with its Actos diabetes drug, was ordered by a U.S. federal jury to pay $3 billion in punitive damages.

** FORD MOTOR CO, Monday close $15.94, -0.13 pct premarket

Ford and its Chinese joint ventures sold 103,815 vehicles in China in March, up 28 percent from a year earlier, the U.S. automaker said on Tuesday.

** GENERAL MOTORS CO, Monday close $34.11, +0.03 pct premarket

The company, which has recalled 2.6 million cars for faulty ignition switches that caused air bags to deactivate, may also have a defect in air bags in 2003 to 2010 Chevrolet Impalas, an auto safety watchdog group said on Monday.

** WAL-MART STORES INC, Monday close $77.31

The world’s largest retailer plans to open 50 additional wholesale stores in India over the next 4-5 years, company spokesman Anthony Rose said on Tuesday.

** L&L ENERGY INC, Monday close $1.68

The coal miner’s Chief Executive Dickson Lee resigned, it said in a regulatory filing on Tuesday, less than three weeks after the U.S. Securities and Exchange Commission accused the company of fraud.

** ALCOA INC, Monday close $12.47

The aluminum maker is likely to commence the corporate earnings season after the markets close, announcing its results for the first quarter. Investors may be looking for updates on the company’s capacity cuts.


The turbine manufacturer’s fourth-quarter revenue fell about 40 percent, mainly due to the lower number of wind turbine generators commissioned. Quarterly loss widened from a year earlier as selling and administrative expenses soared.

** JINKOSOLAR HOLDING CO LTD, Monday close $27.3, +4.76 pct premarket

The Chinese solar company said it had signed a deal with PROINSO India to distribute its solar modules in India using the latter’s sales network. (Reporting by Abhirup Roy in Bangalore; Editing by Maju Samuel)

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