November 19, 2013 / 1:57 PM / 4 years ago

MARKET PULSE- Tesla Motors, Trina Solar, Campbell Soup, Home Depot

(For more market insights, including options activity, click on ; for the Day Ahead newsletter; for the Morning News Call newsletter, U.S. stock index futures edged lower on Tuesday after the Dow and S&P 500 hit record highs the previous session, with a few earnings reports expected to dominate trading amid a lack of broad market catalysts. S&P 500 futures fell 3 points, Dow Jones industrial average futures 4 points and Nasdaq 100 futures 4 points.

** TESLA MOTORS INC, Monday close $121.58, down 3.2 pct premarket

U.S. regulators have launched an investigation into the luxury electric sports car maker’s Model S sedan after three car fires in six weeks. The U.S. National Highway Traffic Safety Administration has opened a preliminary evaluation of the risks associated with undercarriage strikes on 2013 vehicles, the agency said on its website on Tuesday.

The company’s shares have fallen 37 percent since reports of the first fire on Oct. 2. They had jumped almost five times in the seven months to their Oct. 1 close.

** HORIZON PHARMA INC, Monday close $4.47, up 23 percent premarket

** POZEN INC, Monday close $5.83, up 7.2 percent premarket

Horizon said it would buy the right to market AstraZeneca Plc’s arthritis drug Vimovo in the United States for an upfront payment of $35 million. Horizon will also pay 10 percent royalty on net sales of the drug to Pozen, which licensed the drug to AstraZeneca in 2010.

** QIWI PLC, Monday close $42.04, up 10.5 pct premarket

The Russian payment transfer company reported third-quarter results that beat estimates due to higher payment volumes in its Visa QIWI Wallet business.

** TRINA SOLAR LTD, Monday close $16.19, up 9.6 pct premarket

The solar company swung to a profit after eight straight quarters of losses as solar panel prices held steady after a four-year decline and the company cut manufacturing costs.

** CAMPBELL SOUP CO, Monday close $41.81, down 8.5 pct premarket

The company reported quarterly earnings that missed analysts’ estimates by a wide margin as slowing demand hurt the world’s largest soup maker’s U.S. business.

** BEST BUY CO INC, Monday close $43.56, down 6 pct premarket

The company warned of an increasingly promotional environment heading into the holidays and promised to be competitive on price in the biggest selling season of the year, raising concerns about margins in the fourth quarter.

** MEMORIAL PRODUCTION PARTNERS LP, Monday close $20.44, down 4 pct premarket

The company, formed to acquire and develop oil and natural gas properties, said late on Monday that it would offer about 7.1 million of common units representing limited partner interests.

** OILTANKING PARTNERS LP, Monday close $64.45, down 4 pct premarket

The pipeline and storage company late on Monday said it would offer 2.6 million units representing limited partner interests in an underwritten public offering. The proceeds would be used to buy additional units, pay down debt and fund ongoing projects, the company said.

** URBAN OUTFITTERS INC, Monday close $39.64, down 3.5 pct premarket

The teen apparel retailer joined rival Abercrombie & Fitch Co in warning of a squeeze on current-quarter margins as a tough holiday season could force it to discount more.

** HOME DEPOT INC, Monday close $79.67, up 2.4 pct premarket

A recovery in the U.S. housing market helped the company to top profit and sales estimates for the third quarter, prompting the No. 1 home improvement chain to raise its fiscal-year outlook for the third time this year.

** SALESFORCE.COM INC, Monday close $55.51, up 0.5 pct premarket

The San Francisco-based cloud computing company forecast fourth-quarter revenue to come in slightly better than analysts’ projections, helped by a strong performance by newly acquired email marketing firm ExactTarget.

** NOKIA CORP, Monday close $8.06

** Microsoft Corp, Monday close $37.20

Nokia shareholders are expected to approve the sale of its mobile phone business to Microsoft on Tuesday, with the deal’s financial benefits likely to outweigh resistance from a minority of investors upset over the sale of a Finnish national icon.

** EXXON MOBIL CORP, Monday close $95.45

The world’s biggest oil firm by market value has agreed to sell its 60 percent stake in a Hong Kong utility and a power storage firm for a combined $3.4 billion.

** JPMORGAN CHASE & CO, Monday close $55.74

The bank and U.S. government officials have agreed on terms of a $4 billion consumer relief package that is to be part of a $13 billion deal to settle the bank’s liability to government agencies over mortgage securities, according to a person familiar with the matter.

The biggest U.S. bank by assets has withdrawn from a syndicate of banks working on a $2 billion Hong Kong listing by China Everbright Bank Co, a person familiar with the matter told Reuters.

** MEDTRONIC INC, Monday close $58.31

The company reported higher quarterly earnings that were slightly above analysts’ expectations on stronger sales of its implantable devices to treat abnormal heart rhythms.

** SEARS HOLDINGS CORP, Monday close $63.01

Sears Canada Inc, 51 percent-owned by Sears Holdings, reported a larger quarterly loss as it took one-time charges related to restructuring and asset impairment.

** NOAH HOLDINGS LTD, Monday close $22.56, down 9.1 pct after market

The Chinese wealth management service provider’s operating expenses for the third quarter rose nearly 50 percent to $24.5 million even as quarterly profit almost doubled to $13.9 million.

** TJX COS INC, Monday close $62.49

The company’s adjusted profit beat analysts’ estimates for the second straight quarter as more value-conscious shoppers visited its stores for low-priced apparels.

** CHINACACHE INTERNATIONAL HOLDINGS LTD, Monday close $8.63, down 8 percent after market

The content delivery network and cloud computing provider reported an adjusted loss of 16 million yuan ($2.6 million) in the third quarter, compared with a profit of 12.6 million yuan a year earlier.

** ALTERA CORP, Monday close $32.47, up 6.2 pct after market

At least two brokerages raised their price targets on the programmable chipmaker’s stock after the company said at its analyst day on Monday that it expects to expand at double the growth rate of the semiconductor industry.

Altera should focus on reversing its share loss and winning in the China 4G wireless upgrade, RBC Capital Markets analyst Doug Freedman said, adding that its longer-term operating margin target of 33-34 percent could prove aggressive. He raised the price target on the stock by $2 to $34.

** EQUAL ENERGY LTD, Monday close $4.43, up 5 percent after market

The Oklahoma-based oil and gas producer said it found a suitable option to consider from its strategic alternatives process. Equal Energy neither disclosed the option nor named the company it was negotiating with. The exclusive negotiation will continue until early December, the company said.

** SEMTECH CORP, Monday close $31.36, up 4.4 pct after market

The supplier of analog and mixed-signal semiconductor products reported third-quarter results above analysts’ expectations, helped by design wins and product releases.

** TESORO LOGISTICS LP, Monday close $53.01, down 4 pct after market

The pipeline and storage company late on Monday said it would offer 6.3 million units representing limited partner interests in an underwritten public offering.

** VISIONCHINA MEDIA INC, Monday close $10.10, down 3 pct after market

The China-based outdoor digital advertising company reported a 14 percent fall in revenue on an annualized basis due to a fall in average advertising revenue per broadcasting hour.

** NEWCASTLE INVESTMENT CORP, Monday close $5.41, down 2.4 pct after market

The REIT said it would buy a 52-property portfolio of senior housing properties for about $1.01 billion from Holiday Acquisition Holdings LLC.

** LEVEL 3 COMMUNICATIONS INC, Monday close $30.33, up 2 pct after market

UBS raised its target price on the telecommunication network services provider’s stock to $30 from $22.

** XINYUAN REAL ESTATE CO LTD, Monday close $5.85, down 6.3 pct aftermarket

The Chinese real estate company said it had registered to resell 18.63 million American Depository Shares by selling shareholders. The company said it would not receive any proceeds from the sale of the shares.

** EURONEXT, Monday close $203.17

** NASDAQ OMX GROUP, Monday close $37.60

German stock exchange operator Deutsche Boerse has no interest in buying European exchange group Euronext , sources close to Deutsche Boerse told Reuters on Tuesday. The Wall Street Journal on Tuesday cited people familiar with the discussions as saying that Deutsche Boerse, London Stock Exchange Group and Nasdaq OMX Group were considering individual bids for Euronext.

** MTS, Monday close $21.88

Russia’s top mobile phone operator cut its 2013 sales growth forecast on Tuesday due to weakening economic conditions in its main markets.

** APOLLO GLOBAL MANAGEMENT LLC, Monday close $30.27

MidCap Financial LLC, a commercial finance firm with nearly $2 billion in assets that lends to mid-size healthcare companies, said on Monday it had been acquired by an entity managed by the alternative asset manager. MidCap did not disclose the value of the deal or the Apollo entity involved.


The parent company of United Airlines said its costs will fall by $2 billion every year and that it may issue dividends by 2015, as the airline cuts fuel consumption and sourcing costs and increases productivity. (Compiled by Natalie Grover; Editing by Sriraj Kalluvila)

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