July 9, 2013 / 1:28 PM / in 4 years

MARKET PULSE-Tesla Motors, BlackBerry, Barnes & Noble, Kroger, Ixia

(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/guf59t)

July 9 (Reuters) - Some U.S. stocks to watch on Tuesday:


U.S. stocks were set for a higher open, putting the S&P 500 on pace for a fourth straight advance, after Alcoa’s earnings caused moderate optimism at the start of the earnings season. S&P 500 futures rose 8.7 points, Dow Jones industrial average futures gained 58 points and Nasdaq 100 futures added 15.25 points.

** BARNES & NOBLE INC, Monday close $17.66, down 4 pct premarket

The company’s CEO William Lynch resigned on Monday, an acknowledgement that its digital division Nook has failed to compete successfully in the e-reader and tablet markets and possibly presaging a further shake-up in the company.

** TESLA MOTORS INC, Monday close $121.61, up 3.5 pct premarket

The U.S. electric car maker will replace Oracle Corp on the Nasdaq 100 stock index, Nasdaq OMX Group Inc said on Monday. Oracle said in June that it was moving its stock listing to the New York Stock Exchange from the Nasdaq.

** KROGER CO, Monday close $36.19, up 1.5 pct premarket

** HARRIS TEETER SUPERMARKETS INC, Monday close $48.52, up 1 pct premarket

Kroger, the biggest U.S. supermarket operator, said it would acquire Harris Teeter Supermarkets in a deal valued at $2.5 billion to expand in the south east and mid-Atlantic regions.

** ALCOA INC, Monday close $7.92, up 1.39 pct premarket

The largest U.S. aluminum producer still sees global demand for aluminum products growing 7 percent this year. Excluding the impact of restructuring costs and costs tied to a racketeering and fraud probe, the company reported second-quarter earnings of $76 million, or 7 cents per share. Analysts had expected earnings of 6 cents, according to Thomson Reuters I/B/E/S.

Quarterly revenue fell 2 percent to $5.85 billion, but still topped analysts’ expectations of $5.83 billion.

** BLACKBERRY, Monday close $9.55, up 1 pct premarket

The Canadian smartphone maker will likely face tough questions about its future at its annual meeting today after dismal quarterly results triggered a 28 percent plunge in the company’s share price.

** HEWLETT-PACKARD CO, Monday close $25.17, up 1 pct premarket

Analysts at Brean Capital upgraded the company to ”buy,“ saying that HP ”can continue to move higher through 2H13 given strengthened cash flow, cost-saving benefits and product mix.

** INTERNATIONAL BUSINESS MACHINES, $192.50, down 1.2 pct premarket

Analysts at Goldman Sachs cut their rating on the technology services company’s stock to “neutral” from “buy”, according to Theflyonthewall.com.

** DELL INC, Monday close $13.43

Dell shareholder Yacktman Asset Management threw its support behind Carl Icahn and Southeastern Asset Management’s buyout proposal for the PC maker. Yacktman, which holds 14.8 million shares of Dell, said it believes Dell founder and Chief Executive Michael Dell’s $24.4 billion buyout offer is depressing the stock.


The company received Indonesian government permission on Tuesday to resume underground operations at the world’s second-biggest copper mine, nearly two months after a tunnel cave-in that killed 28 people.

** WD-40 CO, Monday close $57.65, up 15 pct premarket

The lubricant maker reported third-quarter results that beat analysts’ expectations as demand for its multi-purpose maintenance products, including 3-In-One, Blue Works and its namesake brands, rose.

The company also raised its full-year profit outlook to between $2.40 and $2.48 per share from its earlier forecast of $2.32 to $2.42 per share.

** INTUITIVE SURGICAL INC, Monday close $500.08, down 13 pct premarket

The maker of the da Vinci surgical robot said on Monday it expects second-quarter revenue below analysts’ expectations.

At least three brokerages cut their ratings on Intuitive’s stock on Tuesday.

** IXIA, Monday close $17.74, down 12 pct premarket

The provider of testing products to telecom operators estimated second-quarter revenue below Wall Street expectations due to lower demand from network equipment manufacturers and some service providers. The company also said some large deals were pushed into future quarters.

Ixia estimated second-quarter revenue of $114 million to $116 million, below the $120.1 million analysts were expecting, according to Thomson Reuters I/B/E/S.

Brokerage Deutsche Bank downgraded the company’s stock to ”hold“ from buy” on Tuesday, according to Theflyonthewall.com.

** CHELSEA THERAPEUTICS INTERNATIONAL LTD, Monday close $2.65, up 9 pct premarket

The biopharmaceutical company resubmitted its once-rejected hypotension drug Northera for marketing approval by U.S. health regulators. [ID: nGNXUYEDAa]

Northera is being tested for symptomatic neurogenic orthostatic hypotension, or a chronic drop in blood pressure on standing up most often associated with Parkinson’s disease. The U.S. FDA determined in February that Chelsea could use its original data for the resubmission.

** WOLVERINE WORLD WIDE INC, Monday close $55.27, up 9 pct premarket

The shoemaker reported second-quarter profit that beat market estimates as it benefited from the recently acquired Sperry Top-Sider, Saucony, Stride Rite and Keds brands. The company raised its full-year adjusted profit outlook to between $2.60 and $2.75 per share from $2.50 to $2.65 per share.

** AMARIN CORPORATION PLC, Monday close $6.17, down 9 pct premarket

The drugmaker said on Monday that it is offering 21.7 American Depositary Shares in an underwritten public offering.

Oppenheimer & Co analyst Akiva Felt said he expects the company to use the money to market its heart drug, Vascepa, to a wider population, if approved for an additional indication.

** INTERNATIONAL RECTIFIER, Monday close $21.28, up 8 pct premarket

Analysts at Raymond James upgraded the power management products maker to “strong buy” from “market perform,” saying they expect improvement in the company’s earnings per share over the next eighteen months to come from “margin leverage from better fab utilization”.

The analysts said the company has been seeing decent orders and expects steady orders to drive greater-than-expected margin leverage.

** HI-TECH PHARMACAL CO INC, Monday close $33.53, down 7 pct premarket

The specialty pharmaceutical company reported fourth-quarter results that missed analysts estimates due to declining prices of its Fluticasone nasal spray.

** AMERIGAS PARTNERS LP, Monday close $49.79, down 5 pct premarket

The propane gas distributor said late on Monday that an affiliate of Energy Transfer Partners LP has begun a public offering of 6 million AmeriGas shares it owns.

AmeriGas bought Energy Transfer Partners’s propane business for $2.8 billion in October 2011.

** DANAHER CORP, Monday’s close $64.44, up 3 pct premarket

The industrial and healthcare conglomerate said it expects second-quarter profit to be slightly above its previous forecast of between 80 and 85 cents per share. Analysts on average were expecting earnings of 84 cents per share, according to Thomson Reuters I/B/E/S. Danaher will report second-quarter results on July 18.

** SIRIUS XM RADIO INC, Monday close $3.48, up 2.5 pct premarket

The company said the number of people paying for its radio service rose to 25 million in the second quarter, helped by strong auto sales, and it raised its subscriber expectations for the year. For the year, Sirius increased its forecast of net subscriber additions by 100,000 to 1.5 million.

** APPLIED MATERIALS, Monday close $15.14, up 2 pct premarket

The maker of equipment used to manufacture chips said on Monday said it expects adjusted earnings per share of $1.50 to $2.15 by fiscal 2016.

The company earned 75 cents per share, excluding items, in 2012.

** ZIONS BANCORPORATION, Monday close $31.16, down 1.5 pct premarket

Analysts at RBC Capital Markets downgraded the lender’s stock to “sector perform” from “outperform,” saying loan growth and net interest income are likely to be hurt by increased pricing pressure and elevated pay-downs.

** AT&T INC, Monday close $35.58

** DirecTV, Monday close $63.46

** KKR & CO LLP, Monday close $19.94, up 1.5 pct aftermarket

A partnership of AT&T and Chernin Group is among the three suitors who have bid over $1 billion for streaming video site Hulu, the Wall Street Journal reported, citing people familiar with the matter. (link.reuters.com/pyb59t)

The three highest bidders also include DirecTV and Guggenheim Digital Media which is jointly bidding with private equity firm KKR, the Journal said.

** RAYTHEON CO, Monday close $66.84

** NORTHROP GRUMMAN CORP, Monday close $85.09 Raytheon on Monday beat out incumbent Northrop Grumman and others to win a $279 million deal to develop a new electronic jammer for the U.S. Navy, a deal analysts said could eventually be worth billions of dollars. (Compiled by Lehar Maan; Editing by Sriraj Kalluvila)

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