September 18, 2013 / 10:43 AM / in 4 years

CORRECTED-MARKET PULSE- Tesla, Dollar Tree, Five Below, Adobe

(Corrects Aon item to change the date of announcement to Wednesday from Friday)

Sept 18 (Reuters) - Some U.S. stocks to watch on Wednesday:

** ADOBE SYSTEMS INC, Tuesday close $48.14, up 6 pct after market

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.

** 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 after market

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.


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 from $40.

** AON PLC, Tuesday close $70.01, up 2.2 pct after market

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 after market

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 transaction.

** 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 the market.

** 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)

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