May 21, 2014 / 1:18 PM / in 4 years

MARKET PULSE-Tiffany, Eaton Vance, Target, Dycom, Hercules Offshore

(For more market insights, including options activity, click on ; for the Day Ahead newsletter; for the Morning News Call newsletter, Wall Street was set for a modestly higher open on Wednesday, with the S&P 500 on track to rebound from a broad selloff in the prior session ahead of the release of minutes from the most recent meeting of the U.S. Federal Reserve. Dow Jones industrial average futures were up 0.18 percent at 16,366, S&P 500 futures were up 0.34 percent at 1,874.4 and Nasdaq 100 futures were up 0.28 percent at 3,606.5.

** TIFFANY & CO, Tuesday close $88.23, +7.22 pct premarket

The retailer raised its full-year profit forecast after the company reported stronger-than-expected quarterly results as its increasing focus on lower-priced jewelry attracted customers in the United States, its biggest market.

** EATON VANCE CORP, Tuesday close $35.46

The asset manager’s quarterly profit rose nearly 18 percent, as it earned higher fees from its investment advisory and administrative services.

** AMERICAN EAGLE OUTFITTERS INC, Tuesday close $11.33, -4.15 pct premarket

The teen apparel retailer’s quarterly profit slumped 86 percent as it struggles to attract shoppers amid intense competition and weak demand.

** DYCOM INDUSTRIES INC, Tuesday close $31.66, -2.87 pct premarket

The provider of engineering, construction and maintenance services reported lower revenue than a year earlier, hurt by fewer contracts in the quarter.

** FIRST MIDWEST BANCORP INC, Tuesday close $15.68

The bank holding company said it increased its quarterly cash dividend on its common stock by 14.3 percent to 8 cents per share.

** EBAY INC, Tuesday close $51.96, -1.21 pct premarket

The consumer-to-consumer website issued a notice on its websites asking users to change their passwords, but took down the message a short time later without explanation.

** TARGET CORP, Tuesday close $56.61, +0.74 pct premarket

The retailer reported a 16 percent drop in quarterly profit but showed signs of progress in its efforts to rebuild customer confidence in the wake of a massive theft of payment card data in the United States and a botched expansion into Canada.

** TRINA SOLAR LTD, Tuesday close $10.36, +9.65 pct premarket

The Chinese solar company reported a quarterly profit compared with a loss a year earlier, helped by better prices for its solar panels, and it forecast higher shipments for the current quarter.

** NETFLIX INC, Tuesday close $371.67, +0.95 pct premarket

The internet television network will launch its online movie and TV subscription service later this year in France, Germany and four other European countries, in a major push into new markets.

** CITIGROUP INC, Tuesday close $46.55, +0.43 pct premarket

The bank is looking to increase its market share in the U.S. mortgage market by buying home loans from other lenders, a top executive said on Tuesday.

** RIO ALTO MINING LTD, Tuesday close $1.96, +1.02 pct premarket

The miner said it would buy Sulliden Gold Corp Ltd in a deal valued at about C$300 million ($275 million), creating a gold miner focused on Peru, the fifth biggest gold producer in the world.

** HERCULES OFFSHORE INC, Tuesday close $4.36, +4.59 pct premarket

The offshore drilling company has signed a five-year drilling contract with Maersk Oil North Sea UK Ltd, valued at about $420 million.

Hercules will operate the rig in the Central North Sea, with the contract expected to begin in mid-2016.

** AMERICAN REALTY CAPITAL PROPERTIES INC, Tuesday close $12.9, -1.78 pct premarket

The real estate investment trust said it planned to sell nearly all of its shopping centers to Blackstone Group LP for $1.98 billion in cash.

** AMERICAN INTERNATIONAL GROUP INC, Tuesday close $52.49, +1.64 pct premarket

Goldman Sachs raised its rating and price target on the insurer’s stock to “buy”, saying that AIG is best placed among companies designated as Systemically Important Financial Institutions (SIFI) to use capital accretively into its core insurance businesses.

** FACEBOOK INC, Tuesday close $58.56, +0.32 pct premarket

Facebook Inc is expanding its new video advertising service, allowing marketers to show the television-like spots to users of the social network in Britain, Brazil and five other countries, the company told Reuters.

** VIASAT INC, Tuesday close $58.64, -2.78 pct after market

The satellite broadband company’s fourth-quarter results missed analysts’ average estimate, hurt by higher spending on sales and research and development.

** INTUIT INC, Tuesday close $76.84

The financial software developer reported a 20 percent jump in quarterly profit as demand rose for its tax-preparation software TurboTax during the delayed tax filing season.

** GENERAL MOTORS CO, Tuesday close $33.07

The largest U.S. automaker is recalling 218,000 older-generation Chevrolet small cars in the United States for a potential fire hazard, adding to its record recall total, according to U.S. safety regulators.

** EXXONMOBIL CORP, Tuesday close $100.67, +0.21 pct premarket

The petrochemicals maker’s $19 billion liquefied natural gas project in Papua New Guinea, which is shipping its first cargo, is set to dramatically transform one of Asia-Pacific’s most unstable countries, for better or for worse.

** GOLDMAN SACHS GROUP INC, Tuesday close $156.35, +0.40 pct premarket

The bank has begun a formal process to sell the metals warehousing business it purchased four years ago, a spokesman said on Tuesday, disclosing the first definitive effort to shed the operation amid regulatory and political pressure.

** ASTRAZENECA PLC, Tuesday close $72.2, +2.94 pct premarket

** PFIZER INC, Tuesday close $29.25, +0.38 pct premarket

Some leading AstraZeneca shareholders were at odds over whether the British drugmaker made the right decision in rejecting Pfizer Inc’s final $118 billion bid to buy the company.


The world’s biggest generic drugmaker is launching three new products in 2014 with combined estimated peak sales of $1 billion, its chief executive said on Tuesday.

** SALESFORCE.COM INC, Tuesday close $52.89, -0.93 pct premarket

The world’s biggest maker of online sales software raised its full-year forecast after reporting a better-than-expected 37 percent rise in quarterly revenue, helped by higher demand for its sales and marketing software.

** BHP BILLITON LTD, Tuesday close $68.46, +1.05 pct premarket

The diversified natural resources company said it may seek government intervention to avert industrial action by tugboat workers at the Port Hedland iron ore port that threatens to disrupt hundreds of millions of dollars in exports.

** INVENSENSE INC, Tuesday close $18.09, -3.10 percent after market

The motion-sensor chip maker said on Tuesday that Chief Financial Officer Krock Alan sold 1,700 shares in the company, while Vice President of Invensense Lloyd Stephen also sold 1,500 shares.

** BRISTOW GROUP INC, Tuesday close $74.01

The provider of helicopter services to the offshore energy industry is expected to report a higher quarterly profit after the bell, driven by a higher number of orders. Investors expect demand for helicopters to soar in the coming quarters.

** NETAPP INC, Tuesday close $33.95

The maker of storage systems and data management software is likely to report in-line fourth-quarter results after the bell, according to Starmine data. It had forecast lower-than-expected revenue for the current quarter. At least three brokerages have downgraded the stock since it reported quarterly results in February.

** HEWLETT-PACKARD CO, Tuesday close $32.8, +0.46 pct premarket

The PC maker is still trying to keep things on an even keel as personal computer demand crumbles and spending by corporations and government agencies on computing stays shaky. When the company reports results after the bell, Wall Street will expect to see slight but discernible improvement in efforts to curtail its revenue decline and protect margins, given Cisco’s better-than-expected performance last quarter and IBM’s somewhat positive outlook. (Compiled by Ankit Ajmera in Bangalore; Editing by Simon Jennings)

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