MARKET PULSE- Tesco, Regeneron, GSK, Cooper Tire
Sept 16 (Reuters) - Some U.S. stocks to watch on Monday:
FUTURES HIGHER AS SUMMERS WITHDRAWS FROM FED RACE
U.S. stock index futures rose on Monday as investors bet that the exit of Lawrence Summers as a candidate for chairman of the Federal Reserve could mean a slower tapering of monetary stimulus by the U.S. central bank. S&P 500 futures rose 17.6 points, Dow Jones industrial average futures rose 167 points, and Nasdaq 100 futures added 35 points.
** MICRON TECHNOLOGY INC, Friday close $16.20, up 2.3 pct premarket
The chipmaker has seen nearly 30 percent of its PC-use DRAM production capacity booked up by large clients, and its supply available for other clients in September-December 2013 will decrease significantly, the website digitimes.com reported citing the Taiwan-based memory supply chain makers. (r.reuters.com/wak23v)
** COOPER TIRE AND RUBBER CO, Friday close $33.22, down 4 pct premarket
A U.S arbitrator said Cooper Tire and Rubber Co cannot sell two of its factories in the country to India's Apollo Tyres until a collective bargaining agreement is reached between Apollo and members of the plants' union.
The decision could delay Apollo's plan to buy Cooper in a debt-funded $2.5 billion deal, which is already facing opposition at a factory in China.
** SPLUNK INC, Friday close $59.54, up 4 pct premarket
CNBC's Mad Money host, Jim Cramer, on Friday said the datacenter company's technology was "disruptive". "Splunk has become the leader in the unstructured data business," he said.
Cramer added that Splunk has already partnered with major tech companies such as Cisco Systems Inc, F5 Networks Inc and VMware Inc, and the company has been increasing its sales force, which would boost the company's revenue and allow them to beat estimates from the Wall Street. (link.reuters.com/kek23v)
** SOHU.COM INC, Friday close $64.75, up 7 pct premarket
Tencent Holdings Ltd said on Monday that it will buy a 36.5 percent stake in Sohu.com Inc's Sogou search engine, China's third-largest, to lift its presence in the fast-growing China market for search and Internet services.
** BOISE INC, Friday close $9.96, up 26 pct premarket
** PACKAGING CORP OF AMERICA, Friday close $54.55, up 10 pct premarket
Packaging Corp of America said it would acquire smaller rival Boise for about $1.28 billion to increase its container board capacity. Packaging Corp's offer of $12.55 per share represents a premium of 26 percent to Boise's Friday close.
** PLURISTEM THERAPEUTICS INC, Friday close $3.22, up 8.7 pct premarket
The Israel-based company said the U.S. Food and Drug Administration lifted its clinical hold on a mid-stage trial of the company's experimental drug for muscle pain. Pluristem said the FDA allowed it to go ahead with the study, saying that Pluristem had addressed all issues related to the hold.
** HUNTSMAN CORP, Friday close $19.27, up 1.2 pct after market
Brokerage KeyBanc Capital Markets raised its rating on the chemical maker's stock to "buy" from "hold" on Friday, according to theflyonthewall.com. Jefferies on Monday also upgraded Huntsman to "buy", citing gains in 2014-2015 from its propylene oxide-making joint venture with China's refiner Sinopec Corp , which is expected to be completed by the end of next year and its presence in Europe, among other things.
** BOEING CO, Friday close $111.33
Top decision makers in South Korea's 8.3 trillion won ($7.64 billion) fighter jet tender have briefed the president on the outcome of an assessment process and told her that Boeing Co's F-15 Silent Eagle was the sole eligible bid, a source with knowledge of the process told Reuters.
** GLAXOSMITHKLINE PLC, Friday close $51.41
A combination treatment from the drugmaker for melanoma, the deadliest form of skin cancer, has won priority review from U.S. regulators. The move means the Food and Drug Administration will now decide whether to approve the dual use of Tafinlar, also known as dabrafenib, and Mekinist, or trametinib, by early January.
** REGENERON PHARMACEUTICALS, Friday close $289.96
Sanofi chief executive Chris Viehbacher told an investor conference the group had the resources to do "opportunistic" share buybacks, as well as making bolt-on acquisitions and potentially increasing its stake in U.S. biotech firm Regeneron Pharmaceuticals.
** TESCO CORP, Friday close $16.33
Britain's biggest retailer said the pork it sold as from a British farm probably came from a Dutch one, the latest public relations blow for the company. The firm is attempting to revive its fortunes in its home market after losing share to rivals, but has suffered a series of setbacks this year, including the discovery across Europe of horsemeat in products labelled as beef. (Compiled by Varun Aggarwal)
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