April 22, 2014 / 12:37 PM / in 4 years

MARKET PULSE-Facebook, Harley-Davidson, Lockheed Martin, McDonald's

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April 22 (Reuters) - U.S. stock index futures were flat on Tuesday as investors found few reasons to continue buying after a five-day rally in the S&P 500, though Netflix jumped following its earnings results. Dow Jones industrial average futures were up 0.02 percent at 16,374, S&P 500 futures were unchanged at 1,864.4 and Nasdaq 100 futures were up 0.06 percent at 3,553.5.

** MCDONALD‘S CORP, Monday close $99.67, +0.73 pct premarket

The fast-food chain reported a lower quarterly profit as sales at its established U.S. restaurants fell more than expected.

** LOCKHEED MARTIN CORP, Monday close $161.49, +0.32 pct premarket

The Pentagon’s largest supplier on Tuesday reported a 23 percent jump in operating profit and earnings per share in the first quarter, and raised its earnings outlook for the full year by 25 cents.

** BARRICK GOLD CORP, Monday close $17.28, +1.97 pct premarket

Analysts at Goldman Sachs upgraded their rating on the Canadian gold miner’s stock to “buy” from “neutral,” citing Barrick’s focus on its key free cash flow generating operations and divesting non-core strategic assets. The analysts believe the company’s financial flexibility has significantly improved, post Barrick’s equity raise in 2013.

** RENT-A-CENTER INC, Monday close $25.77, +3.6 pct after market

The rent-to-own home furniture retailer forecast full-year earnings above analysts’ estimates after reporting a better-than-expected quarterly profit, due to higher revenues from Mexico and its Acceptance Now membership program.

** PERRIGO CO PLC, Monday close $145.15, +1.88

Jefferies initiated coverage of the company’s stock with a “buy” rating, based on its dominant share of the over-the-counter medicine market, expansive pipeline, and “sustainable” growth strategy.

** CYS INVESTMENTS INC, Monday close $8.73, +1.72 pct premarket

The company, which invests in residential mortgage-backed securities, reported adjusted earnings per share of 35 cents, for the quarter ended March 31, up from 32 cents per share a year earlier. The company turned a profit of $125.5 million attributable to common shareholders, or 78 cents per share, after reporting a loss of $97.1 million, or 59 cents for the quarter ended Dec. 31. The company said recovery in the bond market and reversal in interest rate volatility helped its earnings.

** FACEBOOK INC, Monday close $61.24, +2.22 pct premarket

Credit Suisse upgraded the social media company’s stock to “outperform” from “neutral” and raised its price target to $87 from $6. The brokerage said it expects new products to drive faster growth in revenue per user.

** XEROX CORP, Monday close $11.47, -6.71 pct premarket

Xerox reported a 5 percent fall in first-quarter profit, hurt by dwindling revenue from its printing business and slowing growth in the services unit.

** OMNICOM GROUP INC, Monday close $71.49

The largest U.S. advertising company reported a 3 percent rise in quarterly revenue due mainly to higher growth in its home market.

** HARLEY-DAVIDSON INC, Monday close $67.54, +6.60 pct premarket

The motorcycle maker posted a stronger-than-expected quarterly profit on Tuesday, lifted by strong sales growth outside its core North American market.

** TRAVELERS COS INC, Monday close $86.4, +1.10 pct premarket

The U.S. property and casualty insurer reported a 17 percent rise in first-quarter profit, helped by higher underwriting gains and an increase in net investment income.

** INTERPUBLIC GROUP OF COMPANIES, Monday close $16.87

Advertising company Interpublic Group reported a 6 percent rise in quarterly revenue and a smaller loss, helped by higher spending in the United States.

** LEXMARK INTERNATIONAL INC, Monday close $46.77, -1.65 pct premarket

The printer maker reported first-quarter adjusted earnings above analysts’ average estimate, helped by higher revenue from its managed print services and software businesses.

** CANADIAN PACIFIC RAILWAY LTD, Monday close $148.94

Canada’s second-largest railroad reported a 17 percent jump in first-quarter earnings on Tuesday as it improved efficiency despite facing one of the harshest winters in decades.

** ARCH COAL INC, Monday close $4.97, -0.20 pct premarket

The U.S. coal miner’s net loss grew 77 percent in the first quarter due to weak demand and prices for steel-making metallurgical coal and disruptions in rail service.

** MGIC INVESTMENT CORP, Monday close $8.33, +5.64 pct premarket

The mortgage insurer posted a better-than-expected quarterly profit as fewer homeowners defaulted on their payments in an improving U.S. housing market.

** BEBE STORES INC, Monday close $6.44, -9.63 pct premarket

The women’s apparel retailer estimated a bigger-than-expected quarterly loss due to a 5.7 percent decline in comparable store sales.

** KONINKLIJKE PHILIPS NV, Monday close $34.59, -6.97 pct premarket

Philips warned on Tuesday it would struggle to post a rise in operating profit for 2014 after slowing demand in China and Russia, combined with the impact of a strong euro, wiped out its first-quarter sales growth.

** CITIGROUP INC, Monday close $47.84, +0.25 pct premarket

Citigroup is seeking buyers for about 50 branches holding $3 billion of deposits in California as the lender looks to trim its branch network, Bloomberg reported, citing three people involved in the process.

Citigroup Chairman Michael O‘Neill and Chief Executive Mike Corbat will take questions from shareholders at the company’s annual meeting that comes after the company suffered several setbacks.

** NETFLIX INC, Wednesday close $348.49, +7.89 pct premarket

The video streaming service said on Monday it intends to raise its subscription price for new customers by $1 or $2 a month to help the company buy more movies and TV shows and improve service for its 48 million global subscribers.

The company also said it added 2.25 million customers to its U.S. streaming business during the quarter ended March.

While Cantor Fitzgerald upgraded the stock to “buy,” several other brokerages raised their price targets after Netflix posted better-than-expected first-quarter profit.

** ALLERGAN INC, Monday close $142, +19.04 pct premarket

** VALEANT PHARMA, Monday close $126.01, +7.61 pct premarket

Activist investor William Ackman teamed up with Canadian drugmaker Valeant Pharmaceuticals International Inc to make a joint run at buying the wrinkle-treatment maker, according to security filings on Monday.

The move to acquire Allergan - worth around $42 billion - is highly unusual as activist investors typically buy stakes and then agitate for strategic change.

** ELI LILLY AND CO, Monday close $60.86, +0.23 pct premarket

** NOVARTIS AG, Monday close $85.46, +1.18 pct premarket

Eli Lilly said it will buy the Swiss drugmaker’s animal health business for $5.4 billion in cash to strengthen and diversify its Elanco unit.

** GENERAL MOTORS CO, Monday close $33.98, +0.59 pct premarket

The car maker filed a motion in a U.S. court to enforce an injunction contained in its sale order, which GM says bars plaintiffs from suing the reorganized company for any claims related to its predecessor.

** PACIFIC GAS AND ELECTRIC CO, Monday close $44.78

The company pleaded not guilty on Monday to federal charges stemming from a natural gas pipeline explosion in California that killed eight people and injured 58 others in 2010, according to court filings.

** TWITTER INC, Monday close $46.13, +0.37 pct premarket

The social media company won the dismissal of an unusual lawsuit accusing it of fraudulently arranging a private stock sale it never intended to complete, with a goal of stoking interest in its November 2013 initial public offering.

** OCWEN FINANCIAL CORP, Monday close $38.06

New York’s banking regulator is probing Ocwen Financial, which collects mortgage payments, for possibly over-charging borrowers and investors to auction off foreclosed properties.

** CANADIAN SOLAR INC, Monday close $27.08, +2.10

The solar company said it won a supply agreement to provide 43 mega watt of photovoltaic modules to the second-largest solar power plant project in Japan. Delivery of the modules is expected to start from May 2014.

** RADIOSHACK CORP, Monday close $1.45, +4.83 pct premarket

The electronics retailer will report quarterly results at a time investors are scrutinizing its numbers for sign it can end the sales tailspin that has sent its shares tumbling 65 percent in the last six months.

** AK STEEL, Monday close $6.71

The U.S. steelmaker is expected to report a bigger quarterly loss as an unplanned blast furnace outage in its Kentucky plant is likely to drag shipments down by 10 to 12 percent. A harsher-than-usual winter has pushed up costs of natural gas, which is used to make steel, and is expected to hurt margins. Investors will look for comments on pricing as U.S. steel prices have slightly recovered over the last one month. Earlier in April, AK Steel said it will increase prices for all of its stainless steel products, effective May 4. AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for automotive, infrastructure and manufacturing, construction and electrical power generation and distribution markets. (Compiled by Rohit T.K. in Bangalore; Editing by Joyjeet Das)

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