May 5, 2014 / 11:49 AM / 4 years ago

MARKET PULSE-Twitter, B/E Aerospace, Pfizer, Apple, Sina

(For more market insights, including options activity, click on ; for the Day Ahead newsletter; for the Morning News Call newsletter, U.S. stock index futures fell on Monday. Dow Jones industrial average futures were down 0.43 percent at 16,376, S&P 500 futures were down 0.38 percent at 1,867.2 and Nasdaq 100 futures were down 0.51 percent at 3,561.

** APPLE INC, Friday close $592.58, -0.44 pct premarket

A U.S. jury on Friday ordered Samsung Electronics Co Ltd to pay $119.6 million to Apple, far less than Apple had sought and marking a big loss for the iPhone maker in the latest round of their globe-spanning mobile patent litigation.

** TWITTER INC, Friday close $39.02, -1.79 pct premarket

The six-month “lockup” - the period after the initial public offering during which early investors are barred from selling their shares - ends on Monday. Restrictions on about 470 million shares will be removed. The expiration of the lockup period could put additional pressure on the stock.

According to an article in the May 5 edition of Barron’s, Twitter still looks overpriced even after a 47 percent drop from its late December high of $74.

** PFIZER INC, Friday close $30.75, -0.81 pct premarket

The company reported on Monday quarterly revenue well below Wall Street expectations, hurt by falling sales of generic medicines it calls established pharmaceuticals.

Meanwhile, Britain’s opposition Labour party called on Sunday for an inquiry into a potential takeover of British firm AstraZeneca by Pfizer, accusing the government of “cheerleading” for a deal.


Memorial Production Partners said it would buy oil producing properties in Wyoming for about $935 million.

** COCA-COLA CO, Friday close $40.95, -0.07 pct premarket

Warren Buffett on Saturday defended his recent controversial vote on executive pay at Coca-Cola and disappointing performance at railroad BNSF, as investors grilled him on his Berkshire Hathaway Inc conglomerate at its annual shareholder meeting.

** GENERAL MOTORS CO Friday close $34.97

General Motors is recalling 51,640 Buick Enclave, Chevrolet Traverse and GMC Acadia SUVs of the 2014 model year because faulty software may cause the fuel gauge to read inaccurately, U.S. regulators said on Saturday.

** COMCAST CORP Friday close $52.03

Within a year after its $45 billion acquisition of Time Warner Cable Inc closes, Comcast aims to make its advanced X1 cable service available in areas such as New York and Los Angeles and other markets where it will gain a commanding new presence.

Separately, the company may soon allow customers using its cloud-connected X1 cable box system to buy games from Electronic Arts Inc through their televisions, according to five sources briefed on the plans.

** B/E AEROSPACE, Friday close $88.96, +5.83 pct premarket

The company, a $9 billion maker of aircraft cabin interior products, said on Sunday it was exploring strategic alternatives including a possible sale, merger or spin off of the company or selected businesses.

German aircraft seating maker Recaro is looking into the news, an executive said on Monday.

** GENERAL ELECTRIC CO, Friday close $26.68, -0.07 pct premarket

General Electric made tender offers to buy shares worth up to $389 million in two of Alstom SA’s India units to comply with local rules, following its $16.9 billion bid to buy the French group’s energy unit.

** CHEVRON CORP, Friday close $124.72

Sliding production and weak crude oil prices hampered Chevron in the first quarter, leading the second-largest U.S. oil producer, to report a profit well below Wall Street’s expectations.

** GOLDMAN SACHS GROUP INC, Friday close $158.88

A major proxy advisory firm recommended shareholders vote against Goldman Sachs executive compensation plan and added that Morgan Stanley was also paying its top staff too much.

** MICROSOFT CORP, Friday close $39.69

Bill Gates, the former chief executive and chairman of Microsoft, will have no direct ownership in the company he co-founded by mid-2018 if he keeps up his recent share sales.

** CHESAPEAKE ENERGY CORP, Friday close $28.28, -0.04 pct premarket

Michigan state prosecutors plan to call a former Encana Corp. executive to testify on behalf of the state, at a multi-day hearing in their criminal antitrust case against oil and gas companies Chesapeake Energy and Encana Corp that begins Monday.

** SINA CORP, Friday close $48.15, -4.47 pct premarket

Chinese Internet firm Sina said it was fined 5.1 million yuan ($815,038) by Beijing authorities for allowing “unhealthy and indecent content” on its online reading channel and on its main website.

** TYCO INTERNATIONAL, Friday close $40.81

The security systems maker said its board had approved a proposal to move the company’s headquarters to Ireland from Switzerland, citing recent Swiss laws capping executive pay and tightening immigration rules.

** EBAY INC, Friday close $52.01, +0.17 pct premarket

PayPal, the payment processing arm of eBay, said on Saturday that it parted ways with a recently-hired strategy executive after he posted a series of disparaging and at times indecipherable tweets.

** HYPERDYNAMICS CORP, Friday close $1.49

The oil and gas company said its project partner Tullow Oil had lifted the force majeure declared on its offshore exploration block in Guinea.

Hyperdynamics said it was trying to satisfy the conditions necessary to resume production, including a clarification that a U.S. regulatory investigation of the company would not hurt Tullow’s operations under the production sharing contract.

** OCCIDENTAL PETROLEUM CORP, Friday close $94.44

The fourth-largest U.S. oil and gas company reported a 2.6 percent rise in first-quarter profit, helped by higher prices for crude oil and natural gas.

** NOKIA, Friday close $7.35, -1.09 pct premarket

The Finnish mobile communications equipment maker said it started a $100 million fund to invest in companies working on connecting cars.

** INTEL CORP, Friday close $26.41, -0.83 pct premarket

The chip giant submitted a plan to Israel’s government to invest 20 billion shekels ($5.8 billion) in upgrading its plant in southern Israel, the Economy Ministry said.

** NORDION INC, Friday close $11.58

The Canadian medical isotopes supplier said that Sterigenics, a sterilization services provider owned by private equity firm GTCR LLC, increased its offer price to $758 million from $727 million. (Compiled by Natalie Grover; Editing by Maju Samuel)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below