July 30, 2013 / 11:29 AM / in 4 years

MARKET PULSE-Potash companies, Orthofix, Stereotaxis, Spirit Airlines

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July 30 (Reuters) - Some U.S. stocks to watch on Tuesday:


** MOSAIC CO, Monday close $52.96, down 15 pct premarket

** POTASH CORP, Monday close $37.90, down 13 pct premarket

** CF INDUSTRIES HOLDINGS INC, Monday close $202.3, down 4 pct premarket

Global potash prices are expected to fall by 25 percent after Russia’s Uralkali dismantled one of the world’s largest potash partnerships by pulling out of a venture with Belarus Potash Co.

Uralkali said the decision might lead to a fall in global potash price to below $300 per ton in the second half of 2013 from $400 per ton now.

Mosaic is a U.S. fertilizer producer while CF Industries is the world’s second-largest maker of nitrogen fertilizer.

** STEREOTAXIS INC, Monday close $1.78, up 45.5 pct after market

The device maker said late on Monday it had received U.S. Food and Drug Administration’s approval to market a robotically manipulated catheter used in surgery. The device is already being marketed in Europe since 2011.

** ORTHOFIX INTERNATIONAL N.V., Monday close $27.40, down 11 pct after market

The medical device maker delayed the release of its quarterly results as its audit committee needs additional time to review matters related to revenue recognition for prior periods.

The company does not expect to file the report for the quarter ended June 30 by the Aug. 9 deadline.

** NATIONAL INSTRUMENTS CORP, Monday close $30.52, down 10 pct after market

The company, which provides software and equipment for industrial automation and testing, reported lower-than-expected second-quarter revenue and forecast current-quarter results below analysts’ estimates, citing weak industry conditions.

** PEREGRINE SEMICONDUCTOR CORP, Monday close $9.60, up 9 pct after market

The radio frequency chipmaker reported a surprise second-quarter adjusted profit because of a 20 percent rise in revenue.

** ARRAY BIOPHARMA INC, Monday close $6.26, up 9 pct premarket

The biopharmaceutical company entered a collaboration with biotechnology firm Celgene Corp to develop Array’s inflammation treatment, for an upfront payment of $11 million.

Array is also entitled to milestone payments of up to $376 million and royalties on net sales of all drugs. The agreement gives Celgene an exclusive option to license multiple drug candidates.

** PFIZER INC, Monday close $29.54, up 1 pct after market

Pfizer reported second-quarter earnings slightly ahead of forecasts on Tuesday as the United States’ largest drugmaker lines up a business split that could lead to the spin-off of its generics division.

** SPIRIT AIRLINES INC, Monday close $35.39, down 4.5 pct after market

The airline company said on Monday Chairman William Franke plans to resign in August as funds affiliated with private equity firm Indigo Partners LLC divest their holding of roughly 12.07 million shares of Spirit Airlines’ common stock.

** GIGAMON INC, Monday close $31.62, up 8 pct after market

The maker of traffic management software reported better-than-expected second-quarter results on Monday due to higher revenue.

The company went public last month.

* RR DONNELLEY & SONS CO, Monday close $16.25, up 4 pct after market

The printing services company reported better-than-expected results for the second quarter on Monday due to volume growth in the U.S. print business.

** AMKOR TECHNOLOGY INC, Monday close $4.41, down 3.6 pct after market

The company, which provides packaging and test services to semiconductor companies, reported lower-than-expected second-quarter revenue and also forecast current-quarter revenue below Wall Street estimates. The company said that its customers are adjusting their inventory level due to a slowdown in demand for smartphones.

** CAESARS ENTERTAINMENT CORP, Monday close $15.58, down 2 pct after market

The casino operator reported lower-than-expected quarterly results, hurt by a drop in overall visitations due to higher competition in its Atlantic City and other casinos outside of Las Vegas. “Revenues in the second quarter dropped most significantly in Atlantic City due to continued competitive pressure in the region,” the company said in a statement.

** MERCK & CO INC, Monday close $48.34, up 0.6 pct after market

The second-biggest U.S. drugmaker, is expected to report sharply lower second-quarter earnings, hurt by cheaper generic forms of its Singulair asthma medicine. A handful of the company’s important experimental drugs have been hit with setbacks in the past year, so investors will want reassurance that the company’s drug pipeline can get back on track and help Merck rebound from its Singulair patent cliff.

** AETNA INC, Monday close $63.41, up 0.5 pct after market

The U.S. health insurer on Tuesday reported higher-than-expected second-quarter earnings as medical costs remained low and it closed on its acquisition of Coventry Health Care.

** L&L ENERGY INC, Monday close $3.36

The coal miner reported a 169 percent increase in its full-year profit due to higher production after the acquisition of two mines in China. The company, which now owns three mines in Guizhou in China, expects to produce 1.2 million tons coal in the region by 2015.


The company reports second-quarter results. Investors want some color from Discovery’s management on upfront advertising price and ratings trends that could impact advertising in the second half of the year.

** COACH INC, Monday close $57.85, up 0.4 pct after market

The leather goods maker and retailer reports fourth-quarter results with all eyes on whether it has managed to keep up its momentum in North America last quarter against strong competitors like kate spade and Michael Kors, and on trends in China, still a small market for the New York company.

** OFFICE DEPOT INC, Monday close $4.27, up 1 pct after market

When Office Depot reports its results for the second quarter, investors in the second-largest U.S. office supply retailer will get an update on the progress of its proposed merger with smaller rival OfficeMax Inc. The two companies still await regulatory approval for the deal. Office Depot, which is expected to report a quarterly loss and a drop in sales, could also comment on how the back-to-school season is shaping up.

** NYSE EURONEXT, Monday close $41.42

The company is expected to report higher quarterly earnings, helped by an increase in trading activity, higher technology service revenues, and lower operating costs. The transatlantic exchange operator is being bought by Intercontinentalexchange for $8.2 billion.

** WESTERN UNION CO, Monday close $16.98

The world’s largest money-transfer company will post its quarterly results. It has been cutting the price of its products and investing in new technology to regain market share from smaller rivals such as MoneyGram, Xoom and Boom Financial. Western Union said in June it expects revenue from its digital business to triple to $500 million by 2015.

** CORNING INC, Monday close $15.39, up 0.3 pct after market

The specialty glass maker is expected to beat Wall Street estimates, according to StarMine, due to higher demand for its Gorilla Glass, which is used in smartphones and tablets. It may offer comments on touchscreen PC notebooks, which the company had said was going to be its next phase of growth.

** OCCIDENTAL PETROLEUM CORP, Monday close $90.48, up 0.6 pct after market

The fourth-largest U.S. oil company, posts results and is expected to chart out the year ahead as CEO Steve Chazen looks at how best to split up the company built by deposed chairman Ray Irani.

Compiled by Rohit T.K. in Bangalore; Editing by Sreejiraj Eluvangal

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