January 29, 2013 / 1:27 PM / in 5 years

MARKET PULSE-Yahoo, Seagate, Vmware, BMC Software, PLX Technology

Jan 29 (Reuters) - Some U.S. stocks to watch on Tuesday:


U.S. stock index futures edged lower as investors took profits following an extended rally and waited for earnings and data on consumer confidence and housing. S&P 500 futures fell 5.2 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 30 points and Nasdaq 100 futures slid 9.5 points.

** FORD MOTOR CORP, Monday close $13.78, down 2 pct premarket

The second-largest U.S. automaker posted earnings that topped consensus views, but the stock was volatile in premarket trading fluctuating from rise to loss. The company forecast a wider loss in its European segment because of weakness in that region. After climbing more than 4 percent before the bell, it turned lower to fall 2 percent to $13.50.

** PFIZER INC, Monday close $26.84, up 0.6 percent

The largest U.S. drugmaker on Tuesday reported better-than-expected quarterly results, helped by a rebound in sales in emerging markets.

** YAHOO INC, Monday close $20.31, up 3 pct pre market

The Internet company forecast a modest uptick in revenue for the current year as it revamps its family of websites.

** GENERAL MOTORS CO, Monday close $28.83

Toyota Motor Corp regained the crown as the world’s top selling automaker in 2012, posting record-high sales and beating rivals GM and Volkswagen.

** CORNING INC, Monday close $12.15, up 4 pct premarket

The specialty glass maker posted a higher quarterly revenue, helped by an increase in sales of devices containing Gorilla glass, its most profitable product.


The company said a late-stage trial of its experimental drug for a fungal infection of nails met the main goal of completely curing the infection.

** TESLA MOTORS INC, Monday close $38.03

The electric carmaker’s Chief Executive Elon Musk has offered help to aircraft maker Boeing Co, whose 787 Dreamliner planes have been grounded indefinitely after a string of malfunctions ranging from fuel leaks to battery meltdowns.

** SEAGATE TECHNOLOGY PLC, Monday close $37.41, down 5 pct premarket

** WESTERN DIGITAL CORP, Monday close $48.64, down 3 pct after market

Hard-disk drive maker Seagate forecast third-quarter revenue below analysts’ estimates on muted demand for its hard disk drives as consumers pick smartphones and tablets over PCs.

Rival Western Digital’s stock also fell.

** VMWARE INC, Monday close $98.32, down 15 pct after market

** EMC CORP, Monday close $25.20, down 4 pct after market

VMware, a publicly traded division of data storage equipment maker EMC Corp, plans to cut about 7 percent of its workforce as part of a restructuring. It also gave a cautious outlook for 2013 due to a decline in U.S. federal government spending and the likelihood of more tough economic times in Europe.

** BMC SOFTWARE INC, down 7 pct after market

The business software maker forecast a lower-than-expected profit for the current year after reporting third-quarter results below Wall Street estimates due to lower license bookings at its enterprise services management and mainframe service management businesses.

** PLX Technology Inc, Monday close $4.68, up 6 pct after-market

The chipmaker, whose products are used in digital TVs and video surveillance equipment, on Monday reported better-than-expected quarterly profit and forecast first-quarter revenue above analysts’ estimates on increased market share of its PCI Express products.

** MINDSPEED TECHNOLOGIES INC, Monday close $4.31, up 3 pct after market

The company, which supplies chips for network infrastructure applications, posted a surprise profit as product revenue jumped 13 percent.

** GENERAL GROWTH PROPERTIES INC, $19.53, up 2 pct after market

The No. 2 U.S. mall owner said on Monday it purchased warrants from The Blackstone Group and Fairholme Funds Inc for $633 million, leaving its main investor, Brookfield Asset Management Inc as the only holder of warrants.

** SIERRA WIRELESS INC , Monday close $9.16, up 8 pct after market

The provider of mobile broadband modems and wireless modules said on Monday it sold its assets and operations related to its AirCard business to Netgear Inc for $138 million in cash. The company also reported preliminary full-year revenue slightly above analyst’s estimate. [ID: nBw3sM28Na]

Brokerage firm Jefferies & Co raised its price target to $10 from $8 on the stock.

** CIT GROUP INC, Monday close $40.62

The company’s fourth-quarter profit beat Wall Street estimates by a wide margin as the small-business lender halved the money it spent to cover interest payments on long-term debt.

** WADDELL & REED FINANCIAL INC, Monday close $38.12

The asset manager reported a 33 percent rise in quarterly profit as higher investment management fees helped offset net outflows of client funds.

** LEXMARK INTERNATIONAL INC, Monday close $27.95

The printer maker quarterly profit fell 91 percent due to higher-than-expected taxes.

** D.R. HORTON INC, Monday close $21.31, up 2 pct premarket

The biggest U.S. home builder said net income more than doubled due to higher selling prices, and reported a 39 percent jump in orders.

** HARLEY-DAVIDSON INC, Monday close $53.20, down 2.3 pct premarket

The company reported fourth-quarter net income slightly below Wall Street estimates, as it shipped fewer motorcycles while phasing in new software control systems at its main U.S. factories.

** ELI LILLY AND CO, Monday close $52.64, up 1.6 pct premarket

The U.S. drugmaker said on Tuesday that fourth-quarter earnings fell as competition from generic drugs, particularly for its top-selling schizophrenia drug Zyprexa, drove revenue lower.

** RENT-A-CENTER INC, Monday close $35.43, down 6 pct after market

The company, which lets customers own furniture, electronics and other products they have rented after completing payments over a term, reported a quarterly profit below Wall Street expectations as expenses rose, and it forecast full year earnings that came in below analysts’ view.

** PERVASIVE SOFTWARE INC, Monday close $9.05

The company said it agreed to be acquired by Actian Corp after the privately held big data management company raised its earlier offer by about 8 percent to $161.9 million.

** TIME WARNER CABLE INC, Monday close $100.83

Time Warner Cable’s contract to carry a new Los Angeles Dodgers television channel faces a review by Major League Baseball that could prove crucial to the ability of the team’s new owners to repay backers of its $2.15 billion purchase of the franchise.

** STATE STREET CORP, Monday close $56.39

Trian Fund Management LP, founded by activist investor Nelson Peltz, has partially sold its stake in State Street, the Wall Street Journal reported, citing people familiar with the decision.

** TYCO INTERNATIONAL LTD, Monday close $30.70

The fire safety and security systems maker reported better-than-expected first-quarter results, helped by higher margins at its North America business and an increase in global products revenue.

** DANAHER CORP, Monday close $60.71

The industrial and healthcare conglomerate quarterly profit rose 12 percent, but the company forecast first-quarter earnings below analysts’ estimates.

** PLUM CREEK TIMBER CO, Monday close $47.31

The forest products company’s fourth-quarter profit beat analysts’ estimates by a wide margin, helped by the emerging recovery in residential construction, and the company forecast higher demand and pricing for logs in 2013.

** ZYNGA INC, Monday close $2.84

Zynga Inc’s stock rose 14 percent on Monday as investors grew more confident that the social games developer behind “FarmVille” and “Mafia Wars” will deliver a solid set of quarterly results next week.

** GOOGLE INC, Monday close $750.73

The company will lobby Washington in 2013 to make it harder for law enforcement authorities to gain access to emails and other digital messages.

** ALLERGAN INC, Monday close $106.29

The specialty pharmaceutical company won a round in a patent fight against two generic drug makers on Monday when an appeals court found a key portion of the patent for its glaucoma drug, Lumigan, was valid.

** HOSPIRA INC, Monday close $34.40

The company is recalling one lot of an intravenous electrolyte solution after the discovery of the presence of a substance that was consistent with mold, U.S. health regulators said on Monday.

** SANMINA CORP, Monday close $11.75, down 8 pct after market

The provider of components and logistics to defense, aerospace, and automotive industries reported first-quarter profit below analysts’ expectations late on Monday due to weak demand in most of its businesses.

Sanmina also forecast second-quarter revenue of between $1.40 billion and $1.45 billion, below analysts’ average estimate of $1.49 billion, according to Thomson Reuters I/B/E/S. (Compiled by Neha Dimri in Bangalore)

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