May 9, 2014 / 1:17 PM / in 4 years

MARKET PULSE-Rocket Fuel, Prima BioMed, Ubiquiti, Scientific Games

(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 edged lower on Friday putting the S&P 500 on track to closing a week of choppy trading with a slight decline, while the Nasdaq is on pace for its worst weekly decline in four. Dow Jones industrial average futures were down 0.04 percent at 16,504, S&P 500 futures were down 0.05 percent at 1,871.4 and Nasdaq 100 futures were down 0.04 percent at 3,536.25.

** OMNICOM GROUP INC, Thursday close $66.2, -0.98 pct premarket

The proposed $35 billion merger between U.S.-based Omnicom and France’s Publicis Groupe SA has been called off as the obstacles to moulding the two rivals into the world’s largest advertising agency proved too much.

** APPLE INC, Thursday close $587.99, -0.51 pct premarket

** PANDORA MEDIA INC, Thursday close $22.2, +0.68 pct premarket

Apple is close to paying a record $3.2 billion for Beats Electronics, two people with knowledge of the matter said, an expensive foray into music streaming and headphone gear that would mark a departure for the usually cash-conservative iPhone maker.

Shares of Pandora Media, an online streaming service, fell on the news.

Taiwanese media also reported on Friday citing unidentified supply-chain sources that Apple will unveil the next incarnation of its popular iPhone series in August, one month earlier than industry watchers were generally expecting.

** ROCKET FUEL INC, Thursday close $27.81, -28.44 pct premarket

The company, which provides technology for Web-based video advertising, forecast current-quarter revenue far below analysts’ expectations, sending its shares down 28 percent in extended trade.

** GAP INC, Thursday close $39.24, +4.94 pct premarket

Gap reported a 9 percent increase in April same-store sales, led by its low-priced Old Navy chain, and the apparel company gave a profit forecast that surpassed Wall Street expectations.

** UBIQUITI NETWORKS INC, Thursday close $41.37, -17.91 pct premarket

The wireless networking equipment provider forecast a current-quarter adjusted profit of 47-51 cents per share, largely below analysts’ average estimate of 50 cents per share.

Wedbush downgraded the stock to “neutral” from “outperform”, while at least three other brokerages cut their price target.

The company reported third-quarter results that beat Wall Street estimates on Thursday.

** UNIVERSAL DISPLAY CORP, Thursday close $24.87, +10.90 pct premarket

The LED supplier reported better-than-expected quarterly revenue as it added more customers, prompting Canaccord Genuity to raise its target price on the stock to $28.50 from $24.

** CLEAN ENERGY FUELS CORP, Thursday close $8.82, +4.88 pct premarket

The natural gas fuel supplier reported bigger-than-expected first-quarter revenue as the company delivered 59.3 million gallons during the quarter ended March 31, compared with 49.9 million gallons delivered a year earlier.

** RALPH LAUREN CORP, Thursday close $151.99, -5.59 pct premarket

The retailer said it expected global revenue to rise between 6 percent and 8 percent in fiscal 2015 but warned its operating margin would decline as it spends money to further build its network of stores.

** STRATASYS LTD, Thursday close $94.32, -4.90 pct premarket

The 3D printer maker said it expected operating expenses to increase materially in 2014, driven by investments in sales and marketing.

** PRIMA BIOMED LTD, Thursday close $0.98, +32.65 pct premarket

The Australia-based drugmaker said the U.S. Food and Drug Administration has granted a “fast track” status for its experimental ovarian cancer drug, CVac.

The status speeds up regulatory review of drugs that aim to treat serious diseases and fill unmet medical needs.

** PFIZER INC, Thursday close $29.17, -0.24 pct premarket

The British government needs to be confident that any commitments made by Pfizer in a proposed takeover of AstraZeneca are binding, British Deputy Prime Minister Nick Clegg said.

Separately, the governors of Maryland and Delaware on Thursday sent a letter to the company’s Chief Executive Officer Ian Read “expressing deep concerns” about its bid to acquire London-based AstraZeneca.

Additionally, the drugmaker has struck a deal with leading British universities to hunt for new medicines to treat rare diseases.

** TESLA MOTORS INC, Thursday close $178.59, +0.85 pct premarket

Missouri legislators are considering banning car makers selling direct to the public, in another challenge to Tesla push to bypass car dealers. A ban would make Missouri the fourth state after Texas, Arizona and New Jersey to stop Tesla selling its electric sports cars directly to drivers.

** COMCAST, Thursday close $51.1

** TIME WARNER CABLE INC, Thursday close $139.24

Lawmakers expressed concern about combining the top two U.S. cable operators at a congressional hearing Thursday to discuss Comcast’s plan to merge with Time Warner Cable.

** NEWS CORP, Thursday close $17.11

The company reported better-than-expected quarterly profit on Thursday as a result of keeping costs in control even though its newspapers still suffered from declines in advertising revenue and subscriptions sales.

** GOLDMAN SACHS GROUP INC, Thursday close $157.4, +0.00 pct premarket

The bank disclosed that it was being investigated over its hiring practices outside the United States. [ID:nL3N0NV5PJ

** MERCK & CO, Thursday close $54.83

U.S. health regulators on Thursday approved a blood clot preventer developed by Merck for use by patients who have had a heart attack or who suffer from blockages in the arteries of the legs.

** BOSTON SCIENTIFIC CORP, Thursday close $12.8

The medical device maker said it received a subpoena this week from the Department of Health and Human Services seeking information about the performance of some of its implanted defibrillators.

** HORIZON PHARMA INC, Thursday close $13.2, +7.27 pct premarket

The company reported better-than-expected results for the first quarter, helped by strong sales of its arthritis drug, Vimovo.

Horizon Pharma also raised its net revenue forecast for 2014.

** BANK OF NEW YORK MELLON CORP Thursday close $34.47

Mitsubishi UFJ Financial Group Inc, Japan’s biggest lender, is considering bidding for the corporate trust arm of Bank of New York Mellon, Bloomberg reported citing unidentified people with knowledge of the matter.

** HILTON WORLDWIDE HOLDINGS INC, Thursday close $22.64, +3.36 pct premarket

The company raised its full-year profit forecast after strong business and leisure travel helped the company post better-than-expected quarterly results.

** ARCELORMITTAL, Thursday close $16.35, -2.57 pct premarket

The world’s largest steelmaker trimmed its forecast for global steel demand on Friday due to a sharper Chinese slowdown and weakness in Russia, though it expressed optimism about its core European and U.S. markets.

** VIVUS INC, Thursday close $5.38

** ACTAVIS PLC, Thursday close $197.05

Vivus said drugmaker Actavis plans to market a generic version of Vivus’s obesity drug Qsymia that was approved in July 2012.

** FREEPORT-MCMORAN COPPER & GOLD INC, Thursday close $33.84

** APACHE CORP Thursday close $88.03

Freeport-McMoRan said on Thursday it would buy Apache’s deepwater oil and gas projects in the Gulf of Mexico for $1.4 billion, a day after announcing it would shed $3.1 billion in Eagle Ford shale assets in Texas.

** FANNIE MAE, Thursday close $4.16

** FREDDIE MAC Thursday close $4.1

The government-controlled mortgage finance firms will send the U.S. Treasury dividends totaling $10.2 billion after posting quarterly profits driven mainly by income from legal settlements.

** CBS CORP, Thursday close $58.01

The owner of the most watched U.S. television network reported lower-than-expected revenue as advertising fell 12 percent. [ID: nL3N0NU6XR]

** ALCATEL-LUCENT SA, Thursday close $4.02, +1.74 pct premarket

The telecoms network equipment maker reduced its first-quarter net loss to 73 million euros ($101 million) from 353 million euros a year ago, the company reported, as it cut costs and trimmed unprofitable contracts.

** ABBOTT LABORATORIES INC, Thursday close $38.73

The company said on Thursday it was committed to its array of branded generics, which it calls established products, because they are a “fundamental leg” of its business.

** DISH NETWORK CORP, Thursday close $60.14

Chairman Charlie Ergen said on Thursday he wanted to avoid pricy bidding wars with deep-pocketed rivals for targets such as T-Mobile and DirecTV, even if they could help the satellite television operator.

** TARGET STORES INC, Thursday close $58.32

Target’s problems in Canada may have started with its first step: deciding to occupy the premises of a failed discount chain that didn’t have the panache Canadians anticipated they would find in a retailer renowned for its “cheap chic.”

** NVIDIA, Thursday close $18.5

The chipmaker’s forecast for current-quarter revenue met analysts’ expectations but failed to inspire investors concerned about a slowing PC industry, and its stock lost ground.

** SYMANTEC CORP, Thursday close $20.13

The struggling security software maker posted a better-than-expected quarterly profit, helped by cost cutting, and forecast full-year profit above Wall Street expectations.

** SILVER WHEATON CORP, Thursday close $21.8

The Canada-based mining financier reported a 40 percent smaller profit in the first quarter, hurt by fall in metal prices.

** GRUBHUB INC, Thursday close $31.38

The company reported higher-than-expected revenue in its first quarterly results as a public company as more people used the online food-delivery service to order takeout meals.

** JINKOSOLAR HOLDING CO LTD, Thursday close $25.54, +0.59 pct premarket

The Chinese solar panel maker said it would supply 35 megawatts of modules to private solar energy company Clenera.

** TUMI HOLDINGS INC, Thursday close $19.98

The travel gear maker cut its full-year forecast after reporting weaker-than-expected quarterly results, hurt by the severe winter weather in the United States, which led to fewer customer visits at its retail stores.

Jefferies cut its price target on the company’s stock to $26 from $28.

** ACETO CORP, Thursday close $23.01

The distributor of pharmaceutical products reported lower-than-expected third-quarter results due to a decline in sales in its pharmaceutical ingredient and human health businesses.

** CALLON PETROLEUM CO, Thursday close $8.9

The oil and gas company reported a better-than-expected first-quarter profit on Thursday and raised its full-year production outlook as it added wells in the quarter. ID:nHUG3VvdTc]

** SCIENTIFIC GAMES CORP, Thursday close $10.81, -10.73 pct premarket

The games and technology supplier reported weaker-than-expected first-quarter results as its gaming product sales were hurt by difficult conditions in the gaming industry.

J.P Morgan cut its price target on the company’s stock to $13 from $16.

** JAZZ PHARMACEUTICALS PLC, Thursday close $133.69, -6.50 pct premarket

The company posted a lower-than-expected first-quarter adjusted profit. Sales from its sleep disorder drug, Xyrem, which contributes to more than half of its revenue, also came below analysts’ estimates.

UBS, Citigroup and Leerink cut their price targets on the Jazz stock, citing the weak sales of Xyrem.

** NET 1 UEPS TECHNOLOGIES INC, Thursday close $9.28, +13 percent after market

The South Africa-based payment processor reported a 24 percent rise in third-quarter revenue as it sold more payment processing terminals and cards.

** MERCADOLIBRE INC, Thursday close $83.26, +7.5 percent after market

The Argentina-based e-commerce company reported better-than-expected first-quarter revenue on Thursday, helped by higher revenue from Brazil, its biggest market, prompting brokerage Piper Jaffray to raise its price target to $132 from $128 on the company’s stock.

** PIXELWORKS INC, Thursday close $4.93, +5 pct after market

The provider of video processing technology reported better-than-expected quarterly results, driven by higher chip sales and licensing revenue. (Compiled by Natalie Grover; Edited by Maju Samuel)

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