October 24, 2012 / 11:44 AM / 6 years ago

MARKET PULSE-Facebook, Wells Fargo, Netflix, United Therapeutics

Oct 24 (Reuters) - Some U.S. stocks to watch on Wednesday:

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


Index futures edged higher, indicating indexes may bounce from declines a day earlier when the Dow suffered its biggest drop in four months, following data from China that eased concerns about sluggish global growth.

S&P 500 futures rose 4.2 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 added 17 points, and Nasdaq 100 futures added 2.5 points.

** FACEBOOK INC, Tuesday close $19.50, up 12.8 pct premarket

The world’s No. 1 social network said on Tuesday that it now gets 14 percent of its advertising revenue from mobile ads, helping to reassure investors that the social network is beginning to figure out how to earn money off smartphone and tablet users.

** DOW CHEMICAL CO, Tuesday close $28.55, up 0.8 pct premarket

The largest chemical maker in the United States said on Tuesday that it plans to cut 5 percent of its workforce and shutter 20 plants as part of a restructuring program aimed at countering a slowing global economy.

** REGENERON PHARMACEUTICALS INC, Tuesday close $152.99, up 4.6 pct premarket

The company’s third-quarter profit beat analysts’ expectations on strong sales of its eye drug, Eylea.

** WELLS FARGO, Tuesday close $33.87, up 0.8 pct premarket

Berkshire Hathaway bought more shares of Wells Fargo bank over the last week amid broad market weakness, Chief Executive Warren Buffett said in a CNBC interview on Wednesday.

** NETFLIX INC, Tuesday close $68.22, down 17.1 pct premarket

The company added fewer U.S. customers than Wall Street expected in the third quarter, forcing it to roll back its year-end subscriber forecast and sending shares plunging 15 percent.

At least three brokerages cut their price targets on the stock.

** NEW YORK TIMES CO, Tuesday close $10.56

The newspaper’s public editor has questioned whether its chief executive, the former BBC head Mark Thompson, is fit to serve as the company’s top official as a scandal shakes Britain’s most prestigious broadcaster.

** APPLE INC, Tuesday close $613.35, up 0.6 pct premarket

Apple will begin to sell an 8-inch version of the iPad on Friday to compete with Amazon.com Inc’s Kindle and other smaller tablets, but it set a higher-than-expected price tag of $329 that Wall Street fears could curb demand.

** MICROSOFT CORP, Tuesday close $28.04

European Union antitrust regulators are to charge Microsoft on Wednesday for breaching a 2009 order to offer a choice of web browsers to consumers, a step to a possible hefty fine in the long-running dispute with the software giant, a source familiar with the matter said.

** NORFOLK SOUTHERN CORP, Tuesday close $66.01, down 2.3 pct premarket

The third-largest U.S. public railroad company said on Tuesday that its quarterly profit fell on lower shipments of coal and merchandise.

BB&T Capital Markets and Citigroup downgraded the stock.

** THERMO FISHER SCIENTIFIC INC, Tuesday close $57.61

The world’s largest laboratory equipment maker’s third-quarter profit beat Wall Street estimates as sales of its specialty diagnostic equipment rose, prompting the company to raise its full-year forecast for the second time this year.

** BLACKSTONE GROUP LP, Tuesday close $15.26

Blackstone is preparing to launch a multibillion-dollar fund that will buy stakes in hedge fund managers in the secondary market, as traditional buyers such as banks pull back amid disappointing fund performance and regulation.

** ATMEL CORP, Tuesday close $4.72

Nomura Equity Research0 cut the chipmaker to “neutral” from “buy” and reduced its price target on the stock to $5 from $8.

** CELESTICA INC , Tuesday close $7.02, down 0.3 pct post-market

The contract electronics manufacturer reported a 13 percent lower third-quarter profit on weaker demand across its segments and said it expects margins to come under pressure in the first half of 2013.

Canaccord Genuity cut the stock to “hold” from “buy.”


BofA Merrill Lynch raised the computer security provider to “buy” from “neutral.”

** VMWARE INC, Tuesday close $83.72, down 1.5 pct premarket

The software maker’s third-quarter profit beat estimates on stronger-than-expected sales to the U.S. government, but it forecast current-quarter revenue in a range largely below expectations.

** PANERA BREAD CO, Tuesday close $160.34

The restaurant chain - among the top performing in the United States - reported better-than-expected quarterly earnings and issued profit forecasts above Wall Street’s view.

** GILEAD SCIENCES INC, Tuesday close $64.91, up 3.1 pct premarket

The company posted a better-than-expected quarterly profit and raised its outlook for full-year sales on strong demand for its antiviral drugs.

** AMAZON.COM INC, Tuesday close $234.31

The online retailer will make Japanese language Kindle e-readers and tablets available next month, as the U.S. online seller joins a slew of e-book makers in trying to win market share in the world’s second-biggest publishing market.

** MONSTER BEVERAGE CORP, Tuesday close $41.08, up 3.1 pct premarket

Investors expressed concern on Tuesday over potential legal and regulatory fallout from a lawsuit and investigations into five deaths to see if they are linked to the company’s namesake energy drink.

** BARNES & NOBLE, Tuesday close $15.32

The largest U.S. bookstore chain said customers who have shopped as recently as last month at any of its 63 stores in the country may have their credit card information stolen, and has informed federal law enforcement authorities about the breach.

** RF MICRO DEVICES INC, Tuesday close $3.93, up 11.2 pct post-market

The chipmaker reported a quarterly profit that topped analysts’ estimates and forecast a strong third quarter, as demand for high-speed mobile devices continue to surge.

** TEMPUR-PEDIC INTERNATIONAL INC, Tuesday close $31.87, down 18 pct premarket

The specialty mattress maker reported its first quarterly loss and cut its full-year forecast as it struggles to maintain market share against fast-growing rivals in the burgeoning market for foam mattresses.

** SIRIUS XM RADIO INC, Tuesday close $2.87, down 2.4 pct post-market

Chief Executive Mel Karmazin will step down in February, a move that comes at a time when media mogul John Malone’s Liberty Media Corp is trying to wrest full control of the satellite radio broadcaster.

** BROADCOM CORP, Tuesday close $33.36

Broadcom on Tuesday forecast a decline in revenue for the fourth quarter due to challenging market conditions including weakness in its infrastructure chip business.

** UNITED THERAPEUTICS CORP, Tuesday close $53.28, down 10.8 pct premarket

United Therapeutics said U.S. health regulators rejected its oral drug to treat high blood pressure.

** AMGEN INC, Tuesday close $87.32

The world’s largest biotechnology company on Tuesday reported higher-than-expected third-quarter profit in its first full quarter under Chief Executive Robert Bradway and it raised its full-year earnings and revenue forecasts.

** BUFFALO WILD WINGS INC, Tuesday close $83.46, down 11.3 pct post-market

The company, which operates more than 850 restaurants in the United States and Canada, reported a profit that missed analysts’ estimates as high costs pinched, and the casual dining chain disclosed slowing comparable sales in the beginning of the fourth quarter.

** INVENSENSE INC Tuesday close $12.49, down 16.1 pct premarket

The chipmaker’s founder and chief executive Steven Nasiri said he will be resigning immediately and the company forecast third-quarter revenue below analysts estimates on a conference call on Tuesday.

** AFLAC INC Tuesday close $49.66, down 2.7 pct post-market

The largest seller of supplemental health insurance reported quarterly results that best estimates driven by investment gains from sale of Japanese government bonds. The insurer also raised its 2012 outlook for operating earnings per share.

** IROBOT CORP, Tuesday close $22.64, down 21.4 pct post-market

The company posted a third-quarter profit that beat market expectations as home robot sales improved, but slashed its full-year outlook and forecast a loss for the fourth quarter.

** STMICROELECTRONICS , Tuesday close $6.03, up 2 pct premarket

The world’s seventh-biggest chipmaker announced fresh cost savings when posting a quarterly loss.

** XOMA CORP, Tuesday close $3.22, down 6.8 pct premarket

Xoma filed for an offering of an undisclosed amount of shares on Tuesday as a part of a mixed shelf offering that the drugmaker filed for in August to raise up to $100 million.

** USANA HEALTH SCIENCES INC, Tuesday close $46.97, up 4.3 pct post-market

Better-than-expected sales in the Asia Pacific region pushed USANA Health Sciences’ third quarter profit above analysts estimates. The company, which makes personal care and weight-management products also raised its full year forecast. (Compiled by Ranjita Ganesan in Bangalore)

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