March 25, 2014 / 12:27 PM / 4 years ago

MARKET PULSE-Sonic, Exelixis, G-III Apparel, Google, Walt Disney

(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 higher on Tuesday, implying a modest rebound off the previous session's decline, though investors continued to watch global issues with caution. Dow Jones industrial average futures were up 0.14 percent at 16,224, S&P 500 futures were up 0.35 percent at 1,855.9 and Nasdaq 100 futures were up 0.33 percent at 3,622.75.

** SONIC CORP, Monday close $20.92, +7.13 pct after market

The drive-in restaurant operator, on Monday, reported a better-than-expected second-quarter profit, helped by a 1.4 percent rise in its same-store sales.

At least four brokerages increased their price targets on the restaurant chain’s stock.

** EXELIXIS INC, Monday close $6.27, +13.06 pct premarket

The drug developer said the European Commission granted conditional approval to its cancer drug, Cometriq, as a treatment for patients with medullary thyroid cancer.

The company said its partner, Swedish Orphan Biovitrum , would support marketing of the drug in the European Union through the end of 2015.

Cometriq was granted approval by the U.S. Food and Drug Administration in November 2012 as a treatment for progressive, metastatic medullary thyroid cancer.

** G-III APPAREL GROUP LTD, Monday close $74.46, -7.33 pct premarket

The women’s sportswear apparel company said it could report a loss in the current quarter and forecast full-year 2015 results largely below the average analyst estimate.

The company said its first-quarter results would be negatively impacted by the acquisition of G.H. Bass & Co.

** ARLINGTON ASSET INVESTMENT CORP, Monday close $28.38, -3.88 pct premarket

The asset manager said it had commenced an offering of 2.8 million shares of class A common stock. The company plans to use the proceeds for the acquisition of assets, including residential mortgage-backed securities, and for general working capital purposes.

** THE WALT DISNEY CO, Monday close $79.49

** GOOGLE INC, Monday close $1,157.93, +0.61 pct premarket

The Walt Disney Co has agreed to buy Maker Studios, one of YouTube’s largest networks, for $500 million, in a deal that will make Disney a major online video distributor and should help draw more teens into the Disney entertainment empire.

** COMMSCOPE HOLDING COMPANY INC, Monday close $24.43, -1.96 pct after market

The telecommunications equipment maker said it had begun a secondary offering to sell 17.5 million shares by an affiliate of the Carlyle Group LP.

CommScope said it would not receive any proceeds from the offering.

** GOOGLE INC, Monday close $1,157.93, +0.61 pct premarket

Luxottica, the maker of Ray-Ban sunglasses, has struck a deal to design, develop and distribute glasses based on Google’s Internet-connected Glass eyewear, potentially bringing the new technology to a wider market.

** WALGREEN CO, Monday close $64.31, +0.30 pct premarket

The operator of the largest U.S. drugstore chain, on Tuesday reported a rise in quarterly sales, but said a slowdown in the introduction of higher-profit generic medicines cut into its gross profit margin.

** ARCELORMITTAL SA, Monday close $15.64, -0.32 pct premarket

Analysts at Kepler Cheuvreux downgraded their rating on the steelmaker’s stock to “reduce” from “hold” on Tuesday.

** NPS PHARMACEUTICALS INC, Wednesday close $27.55, +4.86 pct premarket

Analysts at Goldman Sachs began covering the company’s stock with a “buy” rating, saying they expected sales of its short bowel syndrome drug outside the United States to be higher than the average analyst estimate.

The analysts also said Wall Street estimates assigned limited value to the company’s experimental thyroid disorder drug, which they expected to be approved by the U.S. health regulator by its October review date.

** THE WENDY‘S CO,, Monday close $9, +1.10 pct after market

The quick-service hamburger chain operator said on Monday it had completed the sale of 104 restaurants to franchisees as part of its ‘System Optimization’ initiative. The company also said it expected to generate a higher operating margin and stronger free cash flow as a result of the initiative.


The renewable energy provider said it would acquire the wind energy assets of Ireland-based Bord Gáis Energy for about 700 million euros ($964.8 million), in a move that will allow Brookfield to enter the European markets.

** DUCOMMUN INC, Monday close $23.7

The maker of aerospace structural and electro-mechanical components said it received contracts valued at $5.6 million from Bell Helicopter, a subsidiary of Textron Inc, to make electronic assemblies and wiring harnesses for the V-22 Osprey tiltrotor military aircraft through January 2015. The V-22 Osprey uses tiltrotor technology which allows it to take off, land, and hover like a helicopter.

** ROYAL BANK OF SCOTLAND GROUP PLC, Monday close $10.09, +1.19 pct premarket

Royal Bank of Scotland has had contact regarding the possible sale of its U.S. retail business Citizens with Sumitomo Mitsui Financial Group, while Mitsubishi UFJ Financial Group has also considered a bid, people with knowledge of the matter said.

** HALCON RESOURCES CORP, Monday close $3.83

More work needs to be done to develop Halcón Resources Corp’s oil and natural gas assets before the company can be sold, Chief Executive Floyd Wilson said on Monday.

** NETFLIX INC, Monday close $378.9, -0.56 pct premarket

** APPLE INC, Monday close $539.19, +0.24 pct premarket

Netflix shares slumped more than 7 percent on Monday after a report about a new television streaming product that Comcast and Apple are working on together. (Reporting By Shuhankar Chakravorty in Bangalore; Editing by Simon Jennings)

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