April 22, 2014 / 1:17 PM / 4 years ago

MARKET PULSE-Allison Transmission, AK Steel, Facebook, Harley-Davidson

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April 22 (Reuters) - U.S. stock index futures pointed to a flat open on Tuesday as investors found few reasons to keep buying after a five-day rally in the S&P 500, despite strong results from a number of bellwether names. Dow Jones industrial average futures were up 0.09 percent at 16,386, S&P 500 futures were up 0.11 percent at 1,866.5 and Nasdaq 100 futures were up 0.26 percent at 3,560.5.

** AK STEEL HOLDING CORP, Monday close $6.71, +2.09 pct premarket

The U.S. steelmaker reported a bigger quarterly loss, hurt by higher operating costs.

** ALLISON TRANSMISSION HOLDINGS INC, Monday close $31.12, -4.08 pct premarket

The company, which makes fully automatic transmissions for medium- and heavy-duty commercial vehicles, said its shareholders Carlyle Group and Onex Corp sold 25 million shares they owned in the company.

Carlyle and Onex are the largest shareholders in Allison Transmission.

** TECK RESOURCES LTD, Monday close $21.79, -2.25 pct premarket

The diversified Canadian miner said it would cut about 600 jobs, or 5 percent of its global workforce, after a sharp fall in earnings and revenue in the first quarter.

** MCDONALD’S CORP, Monday close $99.67, +0.63 pct premarket

The fast-food chain said global comparable sales rose 0.5 percent last quarter, helped by gains in Europe, where they rose 1.4 percent, compared to forecasts of a 1.2 percent increase.

** 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, +1.68 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, +1.78

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, +2.34 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, -4.01 pct premarket

Xerox, which has been diversifying away from its printers and copiers, cut its full-year earnings forecast as growth stalled in its services business and margins contracted due to higher investment on U.S. health insurance exchange platforms.

** LEXMARK INTERNATIONAL INC, Monday close $46.77, -4.85 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.

** HARLEY-DAVIDSON INC, Monday close $67.54, +7.34 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, +0.58 pct premarket

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

** MGIC INVESTMENT CORP, Monday close $8.33, +3.24 pct premarket

Mortgage insurer MGIC 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, -11.49 pct premarket

The women’s apparel retailer warned of a bigger-than-expected quarterly loss as extremely cold weather in parts of the United States cut sales.

** ALLERGAN INC, Monday close $142, +17.04 pct premarket

** VALEANT PHARMA, Monday close $126.01, +4.96 pct premarket

Canada’s Valeant Pharmaceuticals said it offered to buy Botox maker Allergan to boost its skin and eye-care portfolio. Valeant said it had offered to pay $48.30 per share in cash and 0.83 of its common share for each Allergan share.

** KONINKLIJKE PHILIPS NV, Monday close $34.59, -6.48 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.

** NETFLIX INC, Wednesday close $348.49, +7.88 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.

** ELI LILLY AND CO, Monday close $60.86, +0.15 pct premarket

** NOVARTIS AG, Monday close $85.46, +1.10 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, -0.15 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.

** TWITTER INC, Monday close $46.13, +0.24 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.

** CANADIAN SOLAR INC, Monday close $27.08, +2.36

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. (Compiled by Rohit T.K. in Bangalore; Editing by Joyjeet Das)

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