August 26, 2014 / 1:18 PM / 4 years ago

BUZZ-U.S. Stocks on the Move-Tim Hortons, iKang, Adept, Doral

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U.S. stock index futures pointed to very slight gains at the open on Tuesday, with investors finding few reasons to buy after a rally in the previous session that took the S&P 500 index above 2,000 for the first time. Dow Jones industrial average futures were up 0.14 percent at 17,080, S&P 500 futures were up 0.13 percent at 1,997.5 and Nasdaq 100 futures were up 0.21 percent at 4,072.

** BURGER KING WORLDWIDE INC, Monday close $32.4, +1.82 pct premarket

** TIM HORTONS INC, Monday close $74.72, +9.90 pct premarket

Burger King agreed to buy Canadian coffee and doughnut chain Tim Hortons in cash and stock to create the third-largest quick service restaurant group with sales of about $23 billion.

** BEST BUY CO INC, Monday close $31.99, -4.35 pct premarket

The largest U.S. specialty retailer of consumer electronics reported a 4 percent drop in quarterly revenue due to lower traffic in its stores.

** KITE PHARMA INC, Monday close $22.3, +16.14 pct premarket

The drug developer said its experimental cancer immunotherapy showed potential in treating patients with an aggressive form of blood cancer, in an early-stage study.

** TRINA SOLAR LTD, Monday close $13.37, -6.21 pct premarket

The company’s second-quarter revenue lagged expectations as it sold fewer solar panels than expected and at a lower price.

** IKANG HEALTHCARE GROUP INC, Monday close $22.65, -15.01 pct premarket

The Chinese preventive healthcare services provider reported weaker-than-expected first-quarter profit and revenue, hurt by a 46 percent rise in costs.

** DORAL FINANCIAL CORP, Monday close $8.36, -20.93 pct premarket

The lender ended negotiations with Puerto Rico treasury department without settling claims related to a lawsuit.

Doral sued the government in June for voiding an agreement that required the treasury department to pay it about $230 mln in tax refunds. The Court of First Instance scheduled the trial for Sept. 16, 17 and 18.

** AT&T INC, Monday close $34.51, +0.03 pct premarket

** DIRECTV, Monday close $85.47, +0.16 pct premarket

AT&T has reached a tentative deal with antitrust regulators to pave the way for it to buy DirecTV, the New York Post reported, citing unspecified sources.

** DIGITAL ALLY INC, Monday close $12.5001, +16.16 pct premarket

Public outrage over the Aug. 9 police shooting of 18-year-old Michael Brown in Ferguson, Missouri, has led a growing crowd to sign a White House petition calling for police to be required to wear cameras on the job. This in turn has fueled interest in the wearable camera maker’s devices.

** AMAZON.COM INC, Monday close $334.02, +0.95 pct premarket snapped up live-streaming gaming network Twitch Interactive for about $970 million in cash, reflecting Chief Executive Officer Jeff Bezos’ resolve to transform Amazon into an Internet destination beyond its core retail operations.

** TIME WARNER INC, Monday close $76.95, -0.19 pct premarket

Time Warner Inc’s Turner cable division is preparing to offer buyouts targeting 500 to 600 staffers, or roughly 4 percent of its workforce, according to a person familiar with the company.

** COMTECH TELECOMMUNICATIONS CORP, Monday close $36.81, +1.33 pct premarket

The communications equipment maker said on Monday it is exploring strategic alternatives, including a possible merger or sale of the company, confirming a Reuters report earlier in the day.

** ADEPT TECHNOLOGY INC, Monday close $11.13, -17.43 pct premarket

The robot maker’s CEO said he was “less than satisfied” with sales performance in the United States, as the company reported a bigger fourth-quarter loss.

** PROSPECT CAPITAL CORP, Monday close $10.98, -2.55 pct premarket

The investment management company’s fourth-quarter net investment income dropped 8.7 percent to $84.1 million, or 25 cents per share, as operating expenses increased. Analysts on average had expected income of 32 cents per share, according to Thomson Reuters I/B/E/S.

** MICROSOFT CORP, Monday close $45.17, +0.20 pct premarket

Microsoft’s Windows web browser and media player are being targeted in a Chinese antitrust probe, raising the prospect of China revisiting the software bundling issue at the heart of past antitrust complaints against the firm in the West.

** NEWMONT MINING, Monday close $25.98, +1.42 pct premarket

The miner’s CEO said it reached “constructive solution” over new Indonesia mining rules and is expected to resume production at copper mine soon, after the country’s industry minister said the company had withdrawn its international arbitration filing against the government.

Newmont stopped exporting copper concentrate from Indonesia in January after government introduced tax on metal concentrates that climbed to 60 pct by 2017.

** CNINSURE INC, Monday close $6.99

The Chinese insurer’s second-quarter revenue rose 21 pct and net income more than doubled, helped by higher revenue from its insurance brokerage business. The company said its expected third-quarter revenue to grow about 15 percent from year earlier. (Compiled by Abhirup Roy; Edited by Maju Samuel)

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