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Sept 18 Some U.S. stocks to watch on Wednesday:
FUTURES INCH HIGHER AHEAD OF FED STIMULUS DECISION
U.S. stock index futures edged slightly higher on Wednesday
ahead of an announcement by the Federal Reserve on the future of
its economic stimulus program. S&P 500 futures gained 1.4
points, Dow Jones industrial average futures gained 7
points, and Nasdaq 100 futures added 8.5 points.
** APPLE INC, Tuesday close $455.32, up 1 pct
The fingerprint reader on Apple's top-end iPhone 5S received
an early thumbs up for ease of use from two influential
reviewers, helping dispel concerns about the scanning technology
which has been notoriously unreliable in other cellphones.
** BLACKBERRY LTD , Tuesday close $10.55, up
1 pct premarket
BlackBerry launched its new Z30 flagship smartphone on
Wednesday, as it battles to win back market share despite
uncertainty around its future.
** COGNIZANT TECHNOLOGY SOLUTIONS CORP, Tuesday
close $81.10, up 2 pct premarket
Brokerage Barclays Capital upgraded the IT services
provider's stock to "overweight" from "equal weight" as it sees
growth in the company's business in consulting and outsourcing
in Europe. It also expects strong growth in its health care
business. Barclays raised its price target on the company's
stock to $97 from $80. Brokerage Evercore Partners also raised
its price target late on Tuesday.
** FEDEX CORP, Tuesday close $110.68, up 2.2 pct
FedEx posted a bigger quarterly profit as the courier
company cut costs and its lower-priced ground shipping business
** ADOBE SYSTEMS INC, Tuesday close $48.14, up 6
The company, known for its Photoshop and Acrobat software,
expects subscriber growth to top the 331,000 it added in the
third quarter due to strong demand from corporate customers.
** PULTEGROUP INC, Tuesday close $17.00
** KB HOME, Tuesday close $17.27
** D.R. HORTON INC, Tuesday close $19.95
** LENNAR CORP, Tuesday close $35.04
U.S. housing starts rose less than expected in August as
multi-family activity slowed sharply, but a surge in permits to
build single-family homes pointed to a sustained strengthening
in the housing market recovery. (link.reuters.com/gyh24t)
** SANGAMO BIOSCIENCES INC, Tuesday close $10.58,
up 3 pct premarket
The drugmaker said its common stock offering of 6.1 million
shares is priced at $10.58 per share, the closing price of its
stock on Tuesday, and which will fetch $65 million in gross
** CRACKER BARREL OLD COUNTRY STORE INC, Tuesday
close $107, down 3 pct premarket
The restaurant operator forecast current-quarter profit
below analysts' estimates due to higher commodity costs and
** ARUBA NETWORKS INC, Tuesday close $17.51, up 1.2
Brokerage Piper Jaffray on Tuesday initiated coverage on the
network-equipment maker's stock with an "overweight" rating,
saying the company was well-positioned to gain share within the
wireless local area netowrk (WLAN) market.
"Aruba's broad portfolio of both controller and
controller-less technology, coupled with leading software
solutions, will translate to further share gains in 2014,"
analyst Troy Jensen said in a note. He set a price target of $26
on the stock.
** TOWER GROUP INTERNATIONAL LTD, Tuesday close
$13.86, down 4 pct premarket
FBR cut its rating on the property and casualty insurer's
stock to "market perform" from "outperform," saying that higher
reserves in the second quarter could put the company in a weaker
** CHEMOCENTRYX INC, Tuesday close $6.42, down 2.5
Chemocentryx said that GlaxoSmithKline Plc returned
the rights to its most advanced drug in development for
inflammatory bowel disease.
** DOLLAR TREE INC, Tuesday close $55.83, up 3.5
pct after market
The value retailer on Tuesday announced a $2 billion share
repurchase program. The company also said it had entered into
agreements to repurchase $1 billion of its common shares under a
variable maturity accelerated share repurchase program.
** FIVE BELOW INC, Tuesday close $48.5, down 2 pct
The specialty value retailer on Tuesday announced a
secondary offering by its shareholders. The company said
shareholders have agreed to sell 7.1 million shares of its
common stock, of which 7 million shares would be sold by funds
affiliated with Advent International and 100,000 shares will be
sold by Five Below's executive chairman.
** NATIONSTAR MORTGAGE HOLDINGS INC, Tuesday close
Jefferies raised its rating on the residential mortgage
servicer's stock to "buy" from "hold", saying that higher
mortgage rates will lead to improved profitability and it
expects "another round of bulk servicing sales" in late 2013 or
early 2014. It also raised its target price on the stock to $64
** AON PLC, Tuesday close $70.01, up 2.2 pct after
Walgreen Co is moving 120,000 employees to the Aon
Hewitt Corporate Health Exchange as part of a growing movement
to offer employees cash to purchase their own plans on such
exchanges, the company will announce Wednesday.
** VANTIV INC, Tuesday close $27.25, up 1.1 pct
Evercore raised its price target on the payment processor's
stock to $38 from $33 saying that it expects its net revenue in
fiscal year 2015 to grow by 12 percent due to higher revenue per
** L&L ENERGY INC, Tuesday close $2.23
The U.S. coal miner with operations in China said it was
looking for acquisition opportunities in Northern China to add
at least 1 million tons of coal production every year.
** AT&T INC, Tuesday close $34.75
AT&T is planning to announce on Wednesday that it will
expand its Latin American reach for business customers through a
collaboration with Mexican billionaire Carlos Slim's America
Movil. AT&T will be able to do business in 15
countries, including Argentina, Chile and Colombia, through
connections with America Movil networks, according to a
representative for AT&T.
** SMITHFIELD FOODS INC, Tuesday close $34.15
China's Shuanghui International is close to securing
shareholder approval for its $4.7 billion offer for Smithfield
Foods, which would be the biggest purchase of a U.S. company by
a Chinese firm, ahead of the vote next week, three people
familiar with the matter said.
** GLAXOSMITHKLINE PLC , Tuesday close $51.13
A crackdown on corruption in China's pharmaceutical sector
has hurt sales at international and local firms, with many
doctors at Chinese hospitals refusing to see drug
representatives for fear of being caught up in the widening
scandal. Britain's GlaxoSmithKline, the group at the centre of
the furore, has suffered the most. Industry insiders expect its
China drug sales growth to slow sharply or even reverse in the
third quarter after a 14 percent year-on-year rise in the three
months to end-June.
** HONEYWELL INTERNATIONAL INC, Tuesday close $85.45
U.S. regulators on Tuesday ordered airlines to inspect more
than 3,800 planes to ensure that emergency locator beacons sold
by Honeywell International do not have battery problems that
could cause a fire.
** TESLA MOTORS INC, Tuesday close $166.23
Electric car company Tesla Motors is working to produce a
car capable of running on "auto-pilot" within the next three
years, CEO Elon Musk said, joining tech giant Google
and rival carmakers in the race to roll a driverless car into
** PANDORA MEDIA INC, Tuesday close $25.19
The Internet radio company has won a Manhattan federal court
decision rejecting efforts by some music publishers to narrow a
license that enables the largest U.S. Internet radio service to
play their music.
(Compiled by Varun Aggarwal)