October 17, 2012 / 11:57 AM / in 6 years

MARKET PULSE-Intel, IBM, Pepsico, Potash, BofA, Apollo, Fortinet

(For more market insights, including options activity, click on ; for the day ahead newsletter link.reuters.com/mex49s)


S&P 500 futures rose 1.8 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 1 point and Nasdaq 100 futures fell 0.5 point.

** BANK OF NEW YORK MELLON CORP, Tuesday close $23.56, up 1.9 pct premarket

The world’s largest custody bank’s third-quarter earnings rose 11 percent, beating analysts’ expectations, as it got a lift from rising fees for managing money and investment services.

** CYMER INC, Tuesday close $47.83

The world’s leading microchip gear maker ASML Holding NV will buy the U.S. group - its key supplier of a light-based technology crucial to making a new generation of much smaller chips - for 1.95 billion euros ($2.5 billion).

** INTEL CORP, Tuesday close $22.35, down 2.9 pct premarket

The chipmaker’s weak outlook for fourth-quarter revenue and margins dispelled lingering hopes for a revival in PC demand towards the end of the year.

** COMERICA INC, Tuesday close $31.04

The U.S. regional bank reported a third-quarter profit that missed analysts’ expectations, mainly due to a drop in loans to commercial mortgage customers.

** HALLIBURTON COMPANY, Tuesday close $34.56

The world’s second-largest oilfield services company, reported a 12 percent drop in quarterly profit because of a slowdown in U.S. drilling and higher costs.

** BLACKROCK INC, Tuesday close $189.97

The world’s largest money manager, said third-quarter profit rose 8 percent as investors poured cash into its iShares line of exchange-traded funds.

** PEPSICO INC, Tuesday close $70.30

The food-and-drink maker reported lower quarterly earnings, after the stronger U.S. dollar hurt revenue.

** HCP INC, Tuesday close $45.92, down 2 pct premarket

The company said it will buy 133 senior housing communities for $1.73 billion, including debt, from a joint venture between Emeritus Corp and Blackstone Real Estate Partners VI as an aging U.S. population lifts demand for retirement villages.

** INTERNATIONAL BUSINESS MACHINES CORP, Tuesday close $211.00, down 3.8 pct premarket

The tech giant’s quarterly revenue missed analysts’ expectations while earnings was barely a beat as customers put off spending on big-ticket items and a stronger dollar hit the company’s top line.

SocGen cut the company’s stock to “sell” from “hold.”

** FORTINET INC, Tuesday close $24.80, down 12 pct premarket

The network security products maker cut its full-year forecast, hurt by weak demand in southern Europe and slow growth in China.

** APOLLO GROUP INC, Tuesday close $27.49, down 9.8 pct premarket

The owner of the largest for-profit college in the United States said it will cut about 800 jobs and shut down 25 campuses to save costs amid declining profit and lower student enrollments.

** AMERICAN EXPRESS COMPANY, Tuesday close $58.63

The company, which had mixed results expanding beyond its more affluent core of cardholders, will report third-quarter results on Wednesday morning.

** BANK OF AMERICA CORP, Tuesday close $9.46, up 1.5 pct premarket

The No. 2 U.S. bank by assets, reported on Wednesday a $340 million third-quarter profit as a legal settlement and other previously disclosed charges dented its bottom line.

** POTASH CORP , Tuesday close $41.60, down 3.6 pct premarket

The world’s largest fertilizer maker said its earnings for the full year will be below the low end of its previous forecast range due to delays in new contracts with buyers in China and India.

** STANLEY BLACK & DECKER INC, Tuesday close $72.32

The tool maker reported a lower third-quarter profit, hurt by a decline in margins, and cut its full-year earnings outlook.

** PFIZER INC, Tuesday close $25.80, up 0.2 pct premarket

The company said its kidney cancer drug did not meet the main goal of showing a statistically significant improvement in survival in a late-stage trial without the cancer getting worse.

** KNIGHT CAPITAL GROUP INC, Tuesday close $2.58

The company reported a third-quarter net loss of $389.9 million, largely due to a glitch on Aug. 1 that forced the electronic trader to take on additional investors to avoid bankruptcy.

** EBAY INC, Tuesday close $48.24

The company’s third-quarter results later on Wednesday will likely show strong growth for its online marketplace business.

** C.H. ROBINSON WORLDWIDE, Tuesday close $60.90

The company said it would sell its payment processing business unit, T-Chek, to privately held peer Electronic Funds Source LLC for $302.5 million to help fund its planned purchase of freight forwarder Phoenix International.

** EXLSERVICE HOLDINGS INC, Tuesday close $29.87

Robert W. Baird & Co cut the company’s stock to “neutral” rating.

** SONIC CORP, Tuesday close $9.70, up 4.5 pct post-market

The drive-in restaurant chains’ shares rose after the company reported better-than-expected results on Tuesday, helped by a rise in franchise drive-ins at its burger joints coupled with an increase in franchise royalties and fees.

** CREE INC, Tuesday close $26.18, up 8.2 pct premarket

Canaccord Genuity raised its price target on the semiconductor material maker’s stock to $38 from $34, saying it expects the company to expand its gross margins in the near to medium term.

** MURPHY OIL, Tuesday close $63.74, down 0.3 pct premarket

Barclays Capital cut the company’s stock to “equal weight.”

** ANNALY CAPITAL MANAGEMENT INC, Tuesday close $15.72, up 1.5 pct post-market

The company announced a $1.5 billion share repurchase program.

** DOVER CORP, Tuesday close $57.18, down 0.3 pct premarket

The industrial conglomerate’s quarterly revenue missed analysts’ estimates, hurt by lower sales in its handset and electronics businesses.

** PEPSICO INC, Tuesday close $70.30, up 0.6 pct premarket

The maker of Diet Pepsi, Frito-Lay snacks and Tropicana orange juice reported higher-than-expected quarterly earnings on Wednesday, despite weaker revenue caused by the stronger U.S. dollar and the exit of certain businesses. (Compiled by Aditi Shrivastava in Bangalore)

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