May 13, 2014 / 12:32 PM / 4 years ago

MARKET PULSE-DirecTV, Allergan, McKesson, Rackspace, Fuel Tech

(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 were little changed on Tuesday as investors found few reasons to keep pushing shares higher following a sharp rally in the previous session that took the Dow and S&P 500 to record closes. Dow Jones industrial average futures were up 0.20 percent at 16,688, S&P 500 futures were up 0.12 percent at 1,895 and Nasdaq 100 futures were up 0.23 percent at 3,616.

** PFIZER INC, Monday close $29.13, +0.31 pct premarket

** ASTRAZENECA PLC, Monday close $77.87, +1.95 pct premarket

U.S. drugmaker Pfizer hinted it could raise its proposed $106 billion offer if AstraZeneca would only engage in talks, as its boss was grilled by UK lawmakers on his commitment to British research spending and jobs.

In response, AstraZeneca said it would have to consider a compelling offer, but accused Pfizer of an “opportunistic” proposal with a ploy to cut taxes that risked its reputation.

** AT&T INC, Monday close $36.57, -0.25 pct premarket

** DIRECTV, Monday close $87.16, +3.71 pct premarket

AT&T is in active talks to buy satellite TV provider DirecTV and may complete a deal in the next few weeks that could be worth close to $50 billion, two people familiar with the matter said on Monday.

The second-largest wireless operator is discussing an offer in the low- to mid-$90s per share for DirecTV, one of the people said.


** ALLERGAN INC, Monday close $159.72, +1.90 pct premarket

Valeant Pharmaceuticals said it planned to “improve” its $47 billion takeover offer for drugmaker Allergan, a day after the U.S. company rejected the bid.

** FACEBOOK INC, Monday close $59.83, +0.20 pct premarket

The company said it might consider opening a sales office in China to provide more support to local advertisers who use the website to reach customers overseas.

** BLACKBERRY LTD, Monday close $7.44, +0.81 pct premarket

The smartphone maker launched a low-cost touchscreen device in Jakarta, the Z3, as the embattled company looks to revive sales in emerging markets such as Indonesia, where its once-fervent following has shriveled.

** COCA-COLA CO, Monday close $40.82

** KEURIG GREEN MOUNTAIN INC, Monday close $110.71, +5.47 pct premarket

Coca-Cola has raised its stake in Keurig Green Mountain to 16 percent from 10 percent, making it the largest shareholder of the maker of the popular Keurig one-cup coffee brewer.

** CEMEX SAB DE CV, Monday close $12.7, -2.76 pct premarket

Lorenzo Zambrano, one of Mexico’s best-known businessmen who turned Cemex into a global cement giant but also nearly brought the company crashing down, died on Monday aged 70. There had been no reports of illness and it was unclear who will succeed Zambrano, whose grandfather founded the company.

** ELBIT SYSTEMS LTD, Monday close $62.17

A strong increase in the company’s orders backlog signals growth in 2014, its chief executive said on Tuesday after the Israeli defense electronics firm posted a first-quarter profit that topped analysts’ estimates.

** ENCANA CORP, Monday close $22.56

Canada’s largest natural gas producer said its first-quarter operating profit more than doubled, helped by higher gas prices and liquids production.

** GENERAL MOTORS CO, Monday close $34.82, -0.03 pct premarket

A Georgia couple who settled with the automaker last year over their daughter’s fatal car crash linked to a faulty ignition switch has filed a new lawsuit against it. In a complaint filed in state court in Marietta, Georgia on Monday, Ken and Beth Melton accused GM of fraudulently concealing critical evidence and allowing a company representative to lie under oath.

** GLAXOSMITHKLINE PLC, Monday close $55.14, -0.44 pct premarket

Chinese police will brief the media on Wednesday about the British drugmaker, which has been under investigation for allegedly funneling up to 3 billion yuan ($481 million) to travel agencies to facilitate bribes to doctors and officials.

GlaxoSmithKline said its drug darapladib had not reduced heart attacks or other major events in patients with acute coronary syndrome, marking another disappointment for the innovative heart medicine.

** CHEVRON CORP, Monday close $125.24, +0.31 pct premarket

Mexico’s energy reform provides a range of attractive investment possibilities for international oil companies in Latin America’s second-biggest economy, a senior Chevron Corp executive said on Monday.

** ROYAL BANK OF SCOTLAND, Monday close $11.01

Citizens Financial Group Inc, the U.S. unit of the British bank, filed with U.S. regulators for an initial public offering of common stock that would raise about $100 million.

** ELIZABETH ARDEN INC, Monday close $35.63, -19.17 pct premarket

The U.S. cosmetics company said it is evaluating strategic alternatives, after reporting much weaker-than-expected quarterly results due to falling demand for its perfumes.

** ROCKWELL MEDICAL INC, Monday close $11.86, +1.26 pct premarket

The company, which develops drugs to treat kidney diseases, reported a smaller quarterly net loss, helped by a drop in research and development expenses.

* CONVERGYS CORP, Monday close $22, +3.50 pct after market

The customer management software provider reported better-than-expected results for the first quarter on Monday, helped by organic growth and the integration of Stream, which was accretive to its revenue. Convergys also said it was raising its quarterly dividend to 7 cents per share.

** DR. REDDY’S LABORATORIES LTD, Monday close $46.08, -4.25 pct premarket

India’s second-largest drugmaker by sales posted a 25 percent rise in quarterly net profit that fell short of analysts’ estimates due to a rise in expenses.

** CARLYLE GROUP LP, Monday close $31.19

Integrated Dental Holdings, UK’s largest privately owned dental chain, will either be put up for sale or floated on the stock market by the private equity firm, Sky News reported on Monday.

** TRANSCANADA CORP, Monday close $46.69

U.S. Senate Republicans on Monday blocked an energy-efficiency bill backed by manufacturers and environmentalists, forfeiting a chance to vote on the long-delayed of TransCanada Corp’s Keystone XL oil pipeline.

** MCKESSON CORP, Monday close $174.23, +3.40 pct premarket

The U.S. drug wholesaler said on Monday that profit rose in the latest quarter, exceeding analyst expectations, thanks to strength in its distribution and technology solutions units.

** RACKSPACE HOSTING INC, Monday close $27.53, +11.01 pct premarket

The company reported better-than-expected quarterly results as demand rose for its web-hosting services. Rackspace also forecast current-quarter revenue above analysts’ estimates.

** HALOZYME THERAPEUTICS INC, Monday close $7.52, +15.96 pct premarket

The biotechnology company said an independent safety committee recommended resuming a pancreatic cancer mid-stage trial halted in April, after it submitted an amended study protocol. Halozyme said on Monday that it had requested the U.S. health regulator to lift the clinical hold on the study.

The regulator ordered a halt on the study testing an advanced version of Halozyme’s flagship drug delivery system barely a week after the company voluntarily stopped the trial on the recommendation of the committee.

** THOMPSON CREEK METALS CO INC, Monday close $2.82, +7.44 pct after market

The miner posted a surprise adjusted profit for the first quarter, helped by copper and gold sales from its Mt. Milligan mine.

The company reported an adjusted profit of 2 cents per share. Analysts on average had expected a loss of 8 cents per share, according to Thomson Reuters I/B/E/S.

** MBIA INC, Monday close $12.46, +4.00 pct after market

The bond insurer reported a higher-than-expected quarterly profit, helped by derivatives gain and higher net investment income. Revenue more than doubled to $577 million in the first quarter ended March 31.

** CHINA SUNERGY CO LTD, Monday close $2.83, +3.53 pct premarket

The China-based solar panels maker estimated first-quarter shipments of more than 140 megawatts (MW) due to strong demand from the Chinese market.

China Sunergy had earlier forecast shipments of 130-140 MW for the quarter ended March 31.

** CARTESIAN, Monday close $4.19, +8.30 pct after market

The company, which provides software and technical consulting services to the communications, digital media and technology industries, reported a 16 percent rise in quarterly revenue, driven by growth from its Europe, Middle East and Africa unit.

** FUEL TECH INC, Monday close $6.34, -21.00 pct after market

The maker of pollution control products reported weaker-than-expected quarterly results late on Monday, mainly due to a decline in bookings in the United States and lower activity at a project in Chile.

** TELECOM ITALIA, Monday close $12.8

The company said on Tuesday that it expected a gradual recovery in earnings this year after posting an 8.4 percent fall in first-quarter core profit to reflect declining sales in Italy and a weaker currency in Brazil.


The broadcaster will continue growing on the basis of 2014 results, its co-chief executive was quoted as saying on Tuesday.

** QUALCOMM INC, Monday close $79.97

Two former U.S. sales directors of the chipmaker have been charged with insider trading, according to an indictment unsealed on Monday.

** ONEOK PARTNERS LP, Monday close $54.86, -3.79 pct premarket

The natural gas services provider announced a public offering of 11 million of its common units. ($1 = 6.24 Chinese yuan) (Compiled by Vrinda Manocha in Bangalore; Editing by Kirti Pandey)

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