June 3, 2014 / 12:47 PM / 4 years ago

MARKET PULSE-Quiksilver, Hillshire Brands, Spherix, Prosensa

(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stock index futures were a touch lower on Tuesday as traders found few reasons to buy with major indexes at record levels, though the market's recent upward momentum appeared intact. Dow Jones industrial average futures were down 0.16 percent at 16,696, S&P 500 futures were down 0.22 percent at 1,917.5 and Nasdaq 100 futures were down 0.28 percent at 3,717.

** QUIKSILVER INC, Monday close $5.79, -40.41 pct premarket

The apparel and accessories retailer reported a bigger quarterly loss, hurt by lower wholesale sales in North America and Europe.

** PROSENSA HOLDING NV, Monday close $10.59, +15 pct premarket

The company said the U.S. Food and Drug Administration had outlined a regulatory path for the accelerated approval of its lead drug. The drug, drisapersen, is being developed to treat Duchenne muscular dystrophy - a muscle-wasting disorder that affects one in every 3,500 newborn boys - that has no available cure.

** PILGRIM’S PRIDE CORP, Monday close $25.92

** HILLSHIRE BRANDS CO, Monday close $53.57, +8.89 pct premarket

** TYSON FOODS INC, Monday close $43.4

Pilgrim’s Pride Corp, the second largest U.S. chicken processor, raised its offer for Hillshire Brands, escalating a bidding war with Tyson Foods for the maker of Jimmy Dean sausages.


The company cut its full-year adjusted earnings forecast as recent management changes and technology upgrade weigh on costs, and reported lower-than-expected revenue for the first quarter.

** SPHERIX INC, Monday close $1.81, +9.39 pct premarket

The intellectual property development company said it completed a $20 million financing. The funding is expected to help the company meet its contractual obligations for the remainder of 2014 and help fund growth.

** MGM RESORTS INTERNATIONAL, Monday close $26.13, -2.03 pct premarket

** LAS VEGAS SAND CORP, Monday close $77.43, -2.79 pct premarket

** MELCO CROWN ENTERTAINMENT LTD, Monday close $35.6, -4.07 pct premarket

Macau, the world’s casino capital, raked in 32.35 billion patacas ($4.05 billion) in gambling revenues in May, boosted by robust demand from Chinese visitors keen to bet in the country’s only legal casino hub. Growth in Macau was up 9.3 percent in May, lagging analyst estimates of 13-15 percent.

** GLADSTONE COMMERCIAL CORP, Monday close $17.53, -4.79 pct premarket

The real estate investment trust said on Monday that it planned to sell shares in a public offering. The company intends to use the proceeds to fund pending and future property acquisitions, repay debt and for other general corporate purposes.

** GUIDEWIRE SOFTWARE INC, Monday close $36.91

The company, which makes software for the property and casualty insurance industry, reported better-than-expected third-quarter results on Monday, helped by higher license revenue from new customer wins.

** ADVANCED ENERGY INDUSTRIES INC, Monday close $19, -11.32 pct premarket

Needham & Co cut its rating on the power company to “hold” from “buy” after the company said late on Monday that Chief Executive Gerry Rogerson would step down. “We are surprised by the timimg of the announcement and are concerned that this news would impact AE’s business,” analyst Edwin Mok wrote in a note.

** KKR & Co L.P, Monday close $22.90

The private equity firm has agreed to buy website operator Internet Brands Inc from private equity firms Hellman & Friedman and JMI Equity for $1.1 billion, the New York Times reported, citing people familiar with the matter.

** DOLLAR GENERAL CORP, Monday close $54.3

The discount chain reported a lower-than-expected quarterly profit, blaming tough competition, a harsh winter and weak consumer spending.

** PHH CORP, Monday close $25.25

Element Financial Corp has agreed to buy PHH’s auto fleet leasing business for about $1.4 billion in cash, and will issue $1.1 billion in capital to pay for the deal, the two companies said on Monday.

** MAGNUM HUNTER RESOURCES CORP, Monday close $7.74, +1.7 pct after market

The oil and gas company’s Chief Executive Gary Evans said in an interview with CNBC’s Jim Cramer on Monday that the company has started selling some assets around North Dakota and would sell more non-core assets this month.

** YANDEX NV, Monday close $31.67

The Russian internet group may expand the limit of its share buyback program, following which it may consider paying dividends for the first time, Chief Financial Officer Alexander Shulgin said on Tuesday.

** NEWMONT MINING CORP, Monday close $22.58

The miner has stopped copper output at its Batu Hijau mine in Indonesia, a company statement said on Tuesday, adding that the results of government talks this week would dictate the status of employees.

** CHENIERE ENERGY, Monday close $68.5

A 20-year liquefied natural gas (LNG) sale-and-purchase agreement between Cheniere Energy and Gas Natural Fenosa announced on Monday is worth $13 billion, a source with knowledge of the deal said. The two companies did not disclose the value of the agreement when they made it public earlier on Monday.

** GENERAL MOTORS CO, Monday close $34.86

At least 74 people have died in General Motors cars in accidents with some key similarities to those that GM has linked to 13 deaths involving defective ignition switches, a Reuters analysis of government fatal-crash data has determined. Such accidents also occurred at a higher rate in the GM cars than in top competitors’ models, the analysis showed.

** HYATT HOTELS CORP, Monday close $61.34

Chicago-based Hyatt Hotels has signed an agreement to manage Melco Crown (Philippines) Resorts Corp’s City of Dreams hotel in Manila’s newest gaming hub, the two firms said on Tuesday. The two groups did not disclose any financial details of the agreement.


The U.S. Securities and Exchange Commission has completed its probe on how the company reports revenue from its cloud computing business and does not intend to recommend any enforcement action, the company said.

** NAUTILUS INC, Monday close $10.76

The U.S. Supreme Court on Monday vacated an appeals court decision in a fight between the exercise equipment maker and Biosig Instruments over heart rate monitors.

** SUNEDISON INC, Monday close $19.58

The solar panel maker said it entered into an agreement with Chinese solar company Huantai Group to develop solar projects for the Chinese market. The companies expect to build up to 1.7 gigawatt of solar projects in China over the next five years, SunEdison said on Tuesday.

** FIRST SOLAR INC, Monday close $62.7

The solar company said it would acquire Skytron-energy, a unit of AEG Power Solutions. Skytron-energy provides utility-scale solar power plant management systems, data monitoring technology and equipment to solar power plants in Europe.

** LIMELIGHT NETWORKS INC, Monday close $2.32

** AKAMAI TECHNOLOGIES INC, Monday close $54.36

The U.S. Supreme Court on Monday ruled in favor of Limelight Networks over claims by Akamai Technologies that it infringed patented technology for managing Web images and video

Compiled by Shubhankar Chakravorty in Bangalore; Editing by Sriraj Kalluvila

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