April 23, 2013 / 1:17 PM / in 5 years

MARKET PULSE-Memsic, DuPont, RadioShack, Netflix, Coach

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

April 23 (Reuters) - Some U.S. stocks on the move on Tuesday:


index futures pointed to a higher open on Tuesday, indicating stocks could notch a third straight day of gains as strong earnings improved sentiment. S&P 500 futures were up 0.37 percent. Dow Jones industrial average futures were up 0.48 percent and Nasdaq 100 futures were up 0.69 percent.

** MEMSIC INC, Monday close $2.71, up 51 pct premarket

The chip component maker said it will be acquired by IDG-Accel China Capital II for about $88.5 million, or $4.225 per share. IDG’s affiliates currently own about 19.5 percent of Memsic’s shares.

** RADIOSHACK CORP, Monday close $3.14, down 30 pct premarket

The electronics chain on Tuesday reported a bigger-than-expected quarterly loss on weak sales of wireless phone contracts, highlighting the challenge facing its new chief executive officer as he tries to turn the retailer around.

** NETFLIX INC, Monday close $174.37, up 24 pct premarket

The video subscription service impressed investors on Monday with solid subscriber growth and better-than-expected profits in the first quarter.

At least two brokerages raised their price target on the stock on Tuesday.

** DUPONT, Monday close $50.41, up 0.6 pct premarket

The chemicals maker’s quarterly profit more than doubled as the worst dry spell in decades encouraged U.S. farmers to buy its drought-hardy seeds and crop-protection products to boost yields.

** BANK OF AMERICA CORP, Monday close $11.72, up 1.5 pct premarket

Morgan Stanley raised its rating on the stock to "overweight" from "equalweight," according to StreetIndsider.com. (link.reuters.com/cyw57t)

** CATERPILLAR INC, Monday close $82.71, up 1.1 pct premarket

JP Morgan raised its rating on the stock of the world’s largest maker of construction and mining equipment to “overweight” from “neutral”, and raised its price target by $7 to $100.

** TRAVELERS COMPANIES INC, Monday close $84.58, up 1.7 pct premarket

The U.S. insurer posted a record quarterly operating profit that easily surpassed Wall Street estimates as catastrophe losses declined and the insurer charged higher premiums from businesses and individual customers.

** UNITED TECHNOLOGIES CORP, Monday close $93.63, up 1.4 pct premarket

The diversified U.S. manufacturer reported a better-than-expected profit on Tuesday, helped in part by its 2012 buyout of aircraft components maker Goodrich.

** CELSION CORP, Monday close $0.77, up 14 pct premarket

The cancer therapy developer said it would cut about one-third of its workforce to cut costs and conserve capital, and engaged Cantor Fitzgerald & Co to conduct a review of strategic options including a sale of the company and acquiring other firms with promising drug candidates.

The announcement comes after Celsion said in January that its experimental liver cancer treatment ThermoDox failed to meet the main goal of increasing patients’ survival without worsening their cancer.

** COACH INC, Monday close $50.59, up 15 pct premarket

The upscale leather goods maker and retailer reported better-than-expected third-quarter results and raised its annual dividend.

** VEECO INSTRUMENTS INC, Monday close $32.23, up 14.5 pct premarket

The company, which makes equipment critical for LED production, said it was booking rush orders from some of its LED customers that would help reduce excess supply.

** TEXAS INSTRUMENTS INC, Monday close $34.81, up 0.6 pct premarket

The chipmaker posted first-quarter results slightly ahead of Wall Street expectations on Monday and it forecast growth for the current quarter on improving demand for its chips.

Three brokerages raised their price targets on the stock on Tuesday.

** ARM HOLDINGS , Monday close $40.24, up 8 pct premarket

The British chip designer easily beat first-quarter profit forecasts, helped by the strength of the dollar and buoyant demand for smartphones and tablets that use its processor technology.

** XEROX CORP, Monday close $8.60, down 1.3 pct premarket

The printer maker reported first-quarter earnings on Tuesday that beat expectations and reiterated its full-year targets.


** LENNAR CORP, Monday close $38.79

** MERITAGE HOMES CORP, Monday close $42.58

** PULTEGROUP INC, Monday close $18.31, up 1 pct premarket

** TOLL BROTHERS INC, Monday close $31.22, up 3 pct premarket

** RYLAND GROUP INC, Monday close $38.56

Barclays Capital upgraded U.S. homebuilders Lennar, Meritage Homes, PulteGroup and Toll Brothers to “overweight” and Ryland Group to “equal weight,” saying it expects home prices to overshoot equilibrium levels in the near term, before a likely correction by 2015.

** JA SOLAR HOLDINGS CO LTD, Monday close $4.16

The Chinese solar company said it has begun mass production of metal wrap-through (MWT) solar cells with increased conversion efficiency. The cells, which require no welding, lose less power and suffer lower cell-breakage rate while being assembled into modules. “MWT is at the core of the next generation of module technology, and represents a significant breakthrough in terms of power output and conversion efficiency,” JA Solar Chief Technology Officer Yong Liu.

** RENT-A-CENTER INC, Monday close $35.90, down 7 percent after market

The rent-to-own operator of furniture and electronic items reported quarterly results that widely missed Wall Street forecasts, as demand dropped due to delayed issuance of federal income tax refunds, rising fuel prices and higher payroll taxes.

** ILLUMINA INC, Monday close $55.12, up 4.3 pct after market

The gene sequencing products maker’s first-quarter adjusted profit beat analysts’ expectations on Monday as its product sales rose 21 percent.

Credit Suisse raised its price target on the stock.

** XOOM CORP, Monday’s close $19.59, up 3.9 pct after market

The online money transfer provider posted a surprise profit as more people transferred money using its digital platform. The company which, went public in February, said active customers grew by 46 percent to about 841,819 for the quarter ended March 31,2013. Revenue rose 43 percent to $24.3 million

** YINGLI GREEN ENERGY HOLDING CO LTD, Monday close $2.01, down 1.5 pct after market

The company, one of China’s largest solar equipment makers, said it has signed two loan agreements with China Development Bank (CDB) with an aggregate of $165 million. CDB will provide the company with a one-year loan of $110 million and a three-year loan of $55 million.

** TECK RESOURCES LTD , Monday close $25.35

Canada’s largest diversified miner reported a 40 percent fall in first-quarter adjusted profit due to lower coal prices, and said economic uncertainty may affect prices and shipments.

** CIT GROUP INC, Monday close $41.45

The small-business lender operating under Federal Reserve supervision since emerging from bankruptcy, reported a lower-than-expected quarterly profit due to a 17 percent drop in its interest income.

** CENTENE CORP, Monday close $45.35

The health insurer reported a better-than-expected quarterly profit as new contracts and expansion of existing contracts boosted revenue by 53 percent.

** ENCANA CORP , Monday close $18.79

Canada’s No.1 natural gas producer, reported a 25 percent fall in first-quarter operating profit due to hedging losses.


The printer maker forecast current-quarter adjusted profit largely below analysts’ estimates as it grapples with lower demand for its printers and printing services.

** CIT GROUP INC, Monday close $41.45

The small-business lender, which is operating under Federal Reserve supervision since emerging from bankruptcy, reported a lower-than-expected quarterly profit due to a 17 percent drop in its interest income.

** CELESTICA INC , Monday close $7.65

The contract electronics manufacturer reported a 76 percent fall in first-quarter profit, hit by the loss of contracts from its once-biggest customer, Blackberry .


Chili’s reported a 16 percent rise in quarterly profit, helped by improved restaurant operating margins.

** TRANSALTA CORP , Monday close $13.69

Canadian power generation company reported a first-quarter loss, hurt in part by a one-time charge related to pension funding obligations. L3N0DAGNS

** ILLINOIS TOOL WORKS, Monday close $60.78

The diversified manufacturer lowered its full-year sales forecast on Tuesday, citing “softer-than-anticipated demand” for many of its products.

** AK STEEL, Monday close $2.92, up 3.4 pct premarket

The steelmaker reported a smaller first-quarter loss, helped in part by lower raw material costs. Net loss narrowed to $9.9 million, or 7 cents per share, in the first quarter, from $11.8 million, or 11 cents per share, a year earlier. Revenue fell 10 percent to $1.37 billion.

** LOCKHEED MARTIN CORP, Monday close $95.85, up 2.1 pct premarket

The largest U.S. defense contractor expects across-the-board U.S. budget cuts to have a bigger impact on the company’s results in the second and third quarters of 2013, Chief Financial Officer Bruce Tanner told reporters on Tuesday. [ID;nL2N0DA0MC]

** INGERSOLL-RAND PLC, Monday close $54, down 0.4 pct premarket

The maker of Trane air conditioners, Schlage locks and Thermo King mobile refrigeration units, reported a 7 percent decline in earnings due to weak demand for its commercial heating and cooling systems and industrial products.

** ARCH COAL INC, Monday close $4.89, up 0.6 pct premarket

The company forecast a stronger second half, driven by improving domestic coal market, a recovering metallurgical market and starting of its Leer mine in Appalachia.

** Janus Capital Group, Monday close $8.70

The asset manager reported a 24 percent higher first-quarter profit as fees from investment management rose and customers continued to invest in its funds.

** DELTA AIR LINES INC, Monday close $15.14, down 1.2 pct premarket

Delta on Tuesday reported a lower first-quarter profit on Tuesday, as operating expenses rose. Net income was $7 million, or 1 cent a share, for the quarter, compared with $124 million, or 15 cents a share, a year earlier.

** U.S. AIRWAYS GROUP, Monday close $15.52, up 1.5 pct premarket

US Airways Group Inc LCC.N reported a lower quarterly profit on Tuesday as expenses for salaries went up.

Net income came to $44 million, or 26 cents a share, compared with $48 million, or 28 cents a share, a year earlier.

** REGIONS FINANCIAL CORP, Monday close $7.73, up 4 pct premarket

The southeastern U.S. bank reported a better-than-expected quarterly profit on lowered expenses and as it set aside lesser money to cover soured loans. The bank reported earnings of 23 cents per share for the quarter, above analyst expectations of 20 cents per share, according to Thomson Reuters I/B/E/S.

** NXP SEMICONDUCTORS NV, Monday close $25.77, up 3 pct premarket

The company reported second-quarter results above expectations, helped mainly by higher sales of the company’s chips used in smart-cards and contact-less security products and forecast current-quarter results above Street.

** Rogers Communications Inc , Monday close $50.73

Canada’s largest wireless telecommunications company posted a 15 percent rise in quarterly profit on Monday as new smartphone subscribers pushed up wireless revenue.

** MORGAN STANLEY, Monday close $20.71, up 1.1 pct premarket

Suntrust raised its rating on the stock to “buy” from “neutral”, according to theflyonthewall.com.

** WELLS FARGO & CO, Monday close $36.73, up 0.2 pct premarket

The fourth-largest U.S. bank by assets will hold its annual shareholder meeting. Last year’s gathering was disrupted by demonstrators angered over foreclosure practices and other issues. (Compiled by Sruthi Ramakrishnan in Bangalore,)

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