(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/nex49s) U.S. stocks opened flat at the open 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. The Dow Jones industrial average rose 0.12 percent, while the S&P 500 lost 0.02 percent and the Nasdaq Composite dropped 0.02 percent.
** CAMPBELL SOUP CO, $39.48, down 6 pct (9:32 a.m. ET)
The world’s largest soup maker cut its full-year profit forecast after a drop in demand for its soups and drinks resulted in first-quarter earnings that fell far short of analyst estimates.
** INTELLIPHARMACEUTICS INTERNATIONAL INC, $3.45, up 84 pct (9:33 a.m. ET)
The Canadian company said late on Monday that it received approval from the U.S. Food and Drug Administration to sell the generic version of Novartis Pharmaceuticals Corp’s drug, Focalin XR. Commercial sale of Focalin, used to treat attention deficit hyperactivity disorder, will be launched by Intellipharmaceutical’s U.S. partner Par Pharmaceutical Inc.
** SPHERIX INC, $10.88, up 45 pct (9:33 a.m. ET)
The lifesciences company said it settled a patent dispute with a technology company it did not name. Spherix said it would license the patent, which accepts refill requests for online prescriptions.
** HORIZON PHARMA INC, $5.74, up 28 pct (9:34 a.m. ET)
** POZEN INC, $6.20, up 7.5 pct
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.
** BEST BUY CO INC, $39.99, down 8 pct (9:38 a.m. ET)
The world’s largest consumer electronics chain said it would be competitive on prices during the holiday season as promotional activity by rivals grows fierce, but warned it could hurt margins in the fourth quarter.
For a graphic on earnings, (link.reuters.com/jet74v)
** QIWI PLC, $45.57, up 8.5 pct (9:35 a.m. ET)
The Russian payment transfer company reported third-quarter results that beat estimates due to higher payment volumes in its Visa QIWI Wallet business.
** DAKTRONICS INC, $13.87, up 10 pct (9:35 a.m. ET)
The supplier of electronic displays and scoreboards reported better-than-expected quarterly results, helped by strong growth in orders.
** OMEROS CORP, $7.68, up 2 pct (9:35 a.m. ET)
The drugmaker said analyses of a late-stage trial of its experimental eye drug showed the treatment reduced the occurrence of intraoperative pupil constriction - an important risk factor during surgeries.
The drug, OMS302, is being developed for use during lens replacement surgeries including cataract surgery and refractive lens exchange.
** TRINA SOLAR LTD, $17.16, up 5.89 pct (9:36 a.m. ET)
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.
** BROCADE COMMUNICATIONS SYSTEMS INC, $8.59, up 6.2 pct (9:39 a.m. ET)
The network equipment maker reported better-than-expected fourth-quarter results due to higher gross margins and lower costs.
At least two brokerages raised their price targets on the company’s stock. While BMO Capital Markets analyst Keith Bachman was skeptical about Brocade’s revenue growth, he said the company “can manage opex and drive margins higher”.
Bachman raised his price target on the stock to $9.25 from $8.75, with a “market perform” rating.
** UNITED CONTINENTAL HOLDINGS, $38.23, up 5.2 pct (9:52 a.m. ET)
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.
** TESORO LOGISTICS LP, $50.50, down 4.6 pct (9:39 a.m. ET)
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.
** MEMORIAL PRODUCTION PARTNERS LP, $19.61, down 4 pct (9:40 a.m. ET)
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, $60.75, down 5 pct (9:41 a.m. ET)
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, $38.35, down 3.1 pct (9:41 a.m. ET)
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, $81.79, up 2.6 pct (9:42 a.m. ET)
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, $53.26, down 4.2 pct (9:42 a.m. ET)
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.
** MEDTRONIC INC, $57.37, down 1.6 pct (9:44 a.m. ET)
The company reported higher quarterly earnings that were slightly above analysts’ expectations on stronger sales of its implantable devices to treat abnormal heart rhythms.
** NOAH HOLDINGS LTD, $19.75, down 12.5 pct (9:45 a.m. ET)
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.
** CHINACACHE INTERNATIONAL HOLDINGS LTD, $7.17, down 17 pct (9:46 a.m. ET)
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.
** EQUAL ENERGY LTD, $4.72, up 6.5 pct (9:48 a.m. ET)
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, $31.85, up 1.5 pct (9:48 a.m. ET)
The supplier of analog and mixed-signal semiconductor products reported third-quarter results above analysts’ expectations, helped by design wins and product releases.
** VISIONCHINA MEDIA INC, $9.16, down 9 pct (9:49 a.m. ET)
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.
** XINYUAN REAL ESTATE CO LTD, $5.64, down 3.5 pct (9:50 a.m. ET)
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.
Compiled by Natalie Grover; Editing by Sriraj Kalluvila