July 24, 2013 / 12:54 PM / 4 years ago

MARKET PULSE-Apple, Dell, Sarepta, Broadcom, Transition Therapeutics

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July 24 (Reuters) - Some U.S. stocks to watch on Wednesday:


U.S. stock index futures rose as Apple shares gained a day after the tech company reported stronger-than-expected results, while solid euro-zone economic data boosted market sentiment.

S&P 500 futures rose 6.3 points, Dow Jones industrial average futures rose 35 points and Nasdaq 100 futures added 30.5 points.

** APPLE INC, Tuesday close $418.99, up 4.6 pct premarket

A sharp drop in Apple’s China revenue in April-June underscores the challenges it faces in its second-largest market as the technology gap with cheaper local rivals narrows and as Samsung Electronics keeps up a steady stream of new models across all price ranges.

** DELL INC, Tuesday close $12.88, up 3 pct premarket

The company said founder Michael Dell and private equity partner Silver Lake raised their buyout offer for the PC maker by 10 cents per share and were seeking to ease the voting requirements.

** HANESBRANDS INC, Tuesday close $53.36, up 3 pct premarket

** MAIDENFORM BRANDS INC, Tuesday close $19.09, up 22 pct premarket

Hanesbrands, whose labels include the Wonderbra, said it will buy lingerie company Maidenform Brands Inc for $547 million to boost its product line up.

** BROADCOM CORP, Tuesday close $31.83, down 10 pct premarket

At least four brokerages cut their rating and about 10 brokerages lowered their price targets on the chipmaker’s stock, after the company forecast lower-than-expected third-quarter revenue on Tuesday, underscoring concerns on Wall Street that smartphone growth might be waning.

** BOEING CO, Tuesday close $107.79, up 2 pct premarket

Boeing posted a better-than-expected 13 percent jump in quarterly profit after delivering more commercial jets, shrugging off concerns about the 787 Dreamliner

** VMWARE INC, Tuesday close $71.28, up 14 pct premarket

The cloud software maker raised the high end of its full-year revenue forecast range after reporting a stronger-than-expected second-quarter profit, saying federal government demand and enterprise deals were likely to pick up in the second half.

** T. ROWE PRICE GROUP INC, Tuesday close $79.59, down 6 pct premarket

The asset manager posted a 20 percent rise in its second-quarter profit but reported a net outflow of investor cash.

** NORTHROP GRUMMAN CORP, Tuesday close $88.76, up 5 pct premarket

Northrop Grumman, one of the largest U.S. weapons makers, reported higher second-quarter earnings on Wednesday and raised its forecast for the full year, despite Pentagon budget cuts.

** TRANSITION THERAPEUTICS INC, Tuesday close $3.97, up 21 pct premarket

The Canadian biopharmaceutical company said it acquired development and marketing rights for Eli Lilly’s experimental drug for arthritis pain.

** AT&T INC, Tuesday close $35.81, down 1 pct premarket

The company posted a quarterly profit on Tuesday that missed Wall Street expectations as it was hit by rising costs, and its shares fell 1 percent in late trade.

** PANERA BREAD CO, Tuesday close $182.01, down 7 pct premarket

The company on Tuesday reported quarterly profit that missed analysts’ views and cut its full-year forecast after sales growth at company-owned bakery-cafes fell short of expectations, sending shares tumbling more than 5 percent in after-hours trade.

** SAREPTA THERAPEUTICS INC, Tuesday close $46.43, up 6.8 pct premarket

The company said it plans to apply for U.S. regulatory approval for its rare disease drug in the first half of 2014 after the Food and Drug Administration told the drugmaker it was open to consider an application.

** EMC CORP, Tuesday close $25.33, up 4 pct premarket

The world’s largest data storage equipment maker reported a quarterly profit that met analysts’ expectations, helped by growth at its cloud software unit, VMware Inc.

** FORD MOTOR CO, Tuesday close $16.94, up 4 pct premarket

The maker of the top-selling F-150 pickup truck reported a better-than-expected second-quarter profit, buoyed by strong truck sales, higher vehicle prices and narrower losses in Europe.

** WELLPOINT INC, Tuesday close $87.51, up 2 pct premarket

The company reported a much higher-than-expected quarterly profit on Wednesday, helped by lower than forecast medical costs in its employer-based insurance business and improvements in Medicaid operations after the purchase of Amerigroup in December.

** ELI LILLY & CO, Tuesday close $50.99, up 4 pct premarket

The company reported higher-than-expected quarterly earnings, helped by cost cuts and strong sales growth of Cymbalta, a depression treatment that will soon lose patent protection, and the drugmaker raised its full-year profit forecast.

** CATERPILLAR INC, Tuesday close $85.52, down 2 pct premarket

Caterpillar reported a lower quarterly profit on Wednesday and cut its outlook for the year, saying its independent dealers were focused on reducing machine inventories.

** ELECTRONIC ARTS INC, Tuesday close $23.82, up 8 pct premarket

The video game publisher said its first quarter loss was narrower than Wall Street expectations because of strong cost controls and digital sales that offset weak revenue from packaged games.

** POLYCOM INC, Tuesday close $11.18, down 13 pct premarket

Brokerages BMO Capital Markets and UBS Investment Research cut their price target on the videoconferencing company’s stock after it said on Tuesday that Chief Executive Andrew Miller has stepped down after irregularities were found in his expense submissions.

The company posted second-quarter results that beat analysts’ estimates due to higher demand for its products.

** EVERCORE PARTNERS INC, Tuesday close $44.18, up 7 pct premarket

The boutique investment bank posted higher-than-expected second-quarter profit due to higher revenue from investment banking and management.

Investment banking revenue rose 19 percent to $180.03 million on an adjusted pro forma basis.

** DELTA AIR LINES INC, Tuesday close $20.45

Delta Air reported a quarterly profit against a year-earlier loss as fuel costs fell.

** ILLUMINA INC, Tuesday close $73.77, up 8 pct premarket

The life sciences tools maker on Tuesday reported second-quarter results that beat analysts’ estimates as product sales rose. The company also raised its full-year earnings and revenue forecast.

Illumina said it bought Advanced Liquid Logic, a provider of liquid handling solutions, but did not disclose any deal value.

Credit Suisse, ISI Group and Mizuho raised their price targets on the company’s stock.

** HATTERAS FINANCIAL CORP, Tuesday close $22.71, down 3 pct after market

The mortgage real estate investment trust reported a 27 percent fall in its second-quarter profit as the company earned lower interest income on mortgage-backed securities and incurred higher interest expenses.

Net interest income fell 23 percent to $63.4 million while interest expenses rose 13 percent to $52.08 million.

** SEAGATE TECHNOLOGY PLC, Tuesday close $45.31, down 5 pct premarket

The hard disk drive maker reported slightly better-than-expected quarterly results, but shipments dropped 18 percent from a year earlier.

** RADIAN GROUP INC, Tuesday close $13.83, up 0.14 pct premarket

The biggest private U.S. mortgage insurer posted a surprise quarterly adjusted profit, helped by a rise in premium income, and said new business it wrote after the housing bust accounted for more than half of its portfolio.

** NASDAQ OMX GROUP, Tuesday close $33.84

The transatlantic exchange operator reported a lower second-quarter profit, mainly due to acquisition costs.

** ARROW ELECTRONICS INC, Tuesday close $43.25

The technology products distributor posted a higher quarterly revenue due to a strong growth in sales of high-margin computing products to businesses. [ID;nL4N0FS36S]

** MOTOROLA SOLUTIONS INC, Tuesday close $59.98, down 2.5 pct premarket

The communications gear maker cut its full-year sales forecast for the second time as it struggled with a slowdown in sales to businesses, and posted quarterly revenue below analysts’ estimates.

** MGIC INVESTMENT CORP, Tuesday close $7.35, up 7 pct premarket

The mortgage insurer on Tuesday posted its first quarterly profit in almost three years as fewer people defaulted on their home loans.

Susquehanna Financial Group analysts upgraded the company’s stock to “positive” from “neutral” and raised their price target to $12 from $5 as MGIC returned to profitability sooner than expected. (Compiled by Rohit T.K. in Bangalore; Editing by Maju Samuel)

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