May 10, 2012 / 12:08 PM / 6 years ago

MARKET PULSE-US stocks to watch: Micron, Cisco, Apple

MICRON TECHNOLOGY, Wednesday close $6.36, up 2 pct premarket

The company is in talks to acquire Elpida Memory Inc’s business, the companies said on Thursday, as the Japanese chipmaker tries to restructure after tough market conditions and stiff global competition drove it into bankruptcy protection.

CISCO SYSTEMS, Wednesday close $18.78, down 6 pct premarket

Shares of the network equipment maker fell in premarket trading after it forecast weaker-than-expected quarterly results on growing worries about the European economy and enterprise IT spending.

APPLE INC, Wednesday close $569.18, up 1 pct premarket

The company and its key supplier Foxconn Technology will share the initial costs of improving labor conditions at the Chinese factories that assemble iPhones and iPads, Foxconn’s top executive said on Thursday.

YAHOO INC, Wednesday close $15.30

The Internet company’s largest outside shareholder said it should make its finance chief or head of media the interim chief executive because of the controversy surrounding CEO Scott Thompson’s educational background.

GREEN MOUNTAIN COFFEE ROASTERS, Wednesday close $26.27, up 1 pct premarket

The founder of the embattled company said he felt it treated him unfairly by ousting him as chairman after a share sale that broke company rules but defended its commitment to doing the right thing.

BANK OF AMERICA CORP, Wednesday close $7.73, up 1 pct premarket

Hundreds of demonstrators converged on the bank’s annual shareholder meeting on Wednesday to press its executives on issues ranging from home foreclosures to financing for the coal industry.

KOHL’S CORP, Wednesday close $50.86, down 4 pct premarket

The mid-tier department store chain reported a 23 percent drop in first-quarter profit as its gross margin was hit by price cuts designed to lure back shoppers.

CANADIAN SOLAR INC, Wednesday close $3.21

The company posted a smaller-than-expected loss as it cut costs, and it said shipments and margins were improving in the current quarter due to a pick-up in demand.

APPLIED MATERIALS INC, Wednesday close $11.08

The company will restructure its environmental solutions business as it grapples with lower demand for equipment used for making solar cells.

AUXILIUM PHARMACEUTICALS INC, Wednesday close $17.45, up 3 pct premarket

The specialty biopharmaceutical company posted a much narrower-than-expected quarterly loss as sales of its two key drugs soared. (Compiled by Sagarika Jaisinghani in Bangalore)

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