October 28, 2013 / 1:24 PM / 5 years ago

MARKET PULSE-Loews, AMC Networks, Merck, Dendreon, Zogenix, Biogen

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Oct 28 (Reuters) - U.S. stock index futures edged higher, indicating that the rally that took major indexes to record highs would continue with the latest earnings, including Apple’s much-anticipated results. S&P 500 futures were up 0.03 percent. Dow Jones industrial average futures were up 0.06 percent and Nasdaq 100 futures were up 0.08 percent.


The coal miner said it expects full-year profit, revenue and coal output to be near the lower end of its earlier forecast due to unexpected disruption of production at its Onton mine in the Illinois basin.

** CONSOL ENERGY INC, Friday close $38.14, down 3.3 pct premarket

The company, founded during the U.S. Civil War, said it will sell five West Virginia coal mines to privately held Murray Energy Corp amid regulatory uncertainty and as it focuses more on growing its natural gas operations.


** MOSAIC CO, Friday close $45.94, up 1.5 pct premarket

Mosaic said it would buy the phosphate business of the fellow U.S. fertilizer company for $1.2 billion in cash.

** TENNECO INC, Friday close $52.89

The auto parts maker reported third-quarter results above analysts’ expectations as strong vehicle sales in the United States boosted demand for parts.

** TRIMAS CORP, Friday close $41.88

The company, which makes packaging equipment, gaskets and aerospace fasteners, reported third-quarter profit above analysts’ expectations as it got a boost from recent acquisitions and the company raised its sales forecast for 2013.

** DARA BIOSCIENCES INC, Monday close $0.50, up 2 pct premarket

The pharmaceutical company expanded its sales force catering to the U.S. oncology market through an agreement with Alamo Pharma Services, a unit of privately held Mission Pharmacal. Dara said it expects to have the sales force trained and in the field by Jan. 1.

** ANACOR PHARMACEUTICALS INC, Friday close $12.86

The company will get $142.5 million from Canada’s Valeant Pharmaceuticals International Inc after the companies settled intellectual property-related disputes.

** BRISTOL-MYERS SQUIBB CO, Friday close $48.77, up 3 percent premarket

Analysts at Morgan Stanley raised their rating on the drugmaker’s stock to “overweight” from “equal weight,” according to theflyonthewall.com.

** MYRIAD GENETICS INC, Friday close $25.31, up 3 pct premarket

The molecular diagnostics company said validation data demonstrated the company’s lung cancer test significantly predicted patients’ risk of death from early-stage lung adenocarcinoma, a form of lung cancer, within five years of being diagnosed.

** BOARDWALK PIPELINE PARTNERS LP, Friday close $31.25, down 2.3 pct premarket

The midstream master limited partnership reported a lower-than-expected profit for the third quarter, hurt by a fall in revenue for its services due to a reduction in the level of natural gas price spreads over time.

** BIOGEN IDEC, Friday close $252.26, up 2 pct premarket

The company reported $286 million in third-quarter sales of its high-profile new multiple sclerosis drug, Tecfidera, providing fresh evidence that the medicine is off to an impressive launch and exceeding expectations.


The floors and ceilings maker reported a 24 percent fall in third-quarter profit due to higher costs as it ramps up operations to cope with rising demand in a recovering U.S. housing market. Many building products makers shut factories during the economic crisis of 2008 and are now having to spend extra to meet demand.

** JPMORGAN CHASE & CO, Friday close $52.77, up 0.7 pct premarket

The company has agreed to pay $5.1 billion to settle claims that it and firms it bought misled Fannie Mae and Freddie Mac about the quality of mortgage securities and home loans it sold to them during the housing boom. The agencies’ regulator said Friday evening that the settlement was expected to be part of a tentative $13 billion deal that the company is negotiating with federal and state agencies over its mortgage bond liabilities.

** LOEWS CORP, Friday close $48.81, up 4.5 pct premarket

The hotel, energy and financial services conglomerate, controlled by the billionaire Tisch family, reported a 59 percent jump in profit as it booked a smaller impairment charge in its HighMount Exploration & Production unit in the latest reported quarter.

** MERCK & CO INC, Friday close $46.54, down 1.6 pct premarket

The drugmaker reported better-than-expected third-quarter earnings on Monday thanks to cost cutting, but lower sales of its Januvia diabetes treatment added fresh evidence its biggest product was losing ground to newer drugs.

** BURGER KING WORLDWIDE INC, Friday close $19.76, up 0.7 pct premarket

The fast-food chain known for its Whopper hamburgers reported a better-than-expected third-quarter profit as it slashed costs by franchising more outlets and sales grew outside North America.

** AMC NETWORKS INC, Friday close $70.36

** LIBERTY MEDIA CORP, Friday close $151.38

The cable television network said it would buy Chellomedia, the international content unit of John Malone’s Liberty Global Plc, for about $1.04 billion, giving it greater control over the global distribution of its programs.

** LDK SOLAR CO LTD, Friday close $1.52, up 2 pct premarket

The Chinese solar panel maker, which failed to meet a debt payment deadline on Aug. 28, said a deal with a majority of its bondholders would give it a 30-day reprieve. The forbearance arrangement for interest payment on the bond will now expire on Nov. 26.

** NQ Mobile Inc, Friday close $10.63, up 3.5 pct premarket

The Chinese mobile security software company labelled a “massive fraud” by Muddy Waters Research Group, hit back on Friday by releasing details of its bank accounts and threatening legal action.

** ZOGENIX INC, Friday close $3.04, up 7.2 pct premarket

The drugmaker said on Friday that the U.S. Food and Drug Administration approved its drug for treating pain severe enough to require around-the-clock, long-term treatment.

** DENDREON CORP, Friday close $2.53, up 22.5 pct premarket

The drug maker is looking for a suitor after sales for its lead product, prostate cancer drug Provenge, were weaker than expected, according to a Bloomberg report.

** HAEMONETICS CORP, Friday close $41.26

The company, which provides devices, information management and consulting services related to the collection and transfusion of blood, reported better-than-expected adjusted second-quarter earnings of 66 cents per share, fueled by a 14 percent rise in sales of its plasma collection devices in North America

** ROPER INDUSTRIES INC, Friday close $133.04, down 1.5 pct premarket

The company, which makes radio frequency and medical and scientific imaging products, forecast current-quarter profit below analysts’ estimates, saying it expects growth in the energy industry and some other markets to be slower-than-expected.

** EDUCATION REALTY TRUST INC, Friday close $9.30

The student housing operator reported a smaller-than-expected third-quarter loss due to higher occupancy as well as an increase in rental rates. (Compiled by Sampad Patnaik; Editing by Joyjeet Das)

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