April 12 (Reuters) - Some U.S. stocks to watch on Friday:
U.S. stock index futures fell on Friday, a day after Wall Street scaled new heights, as investors awaited a round of economic data and quarterly results from major banks.
S&P 500 futures fell 3.5 points, the Dow Jones industrial average futures were down 38 points, and Nasdaq 100 futures lost 6.75 points.
** JPMORGAN CHASE & CO, Thursday close $49.31, down 0.7 pct premarket
JPMorgan Chase posted an increase in first-quarter profit on Friday as the biggest U.S. bank benefited from lower expenses.
** WELLS FARGO & CO, Thursday close $37.51, down 0.3 pct premarket
The No. 4 U.S. bank by assets, is expected to post increased quarterly profit, and investors will be closely watching for an update on the mortgage business as a harbinger of what to expect in the rest of the industry.
** INFOSYS LTD, Thursday close $54.34, down 23 pct premarket
** COGNIZANT TECHNOLOGY SOLUTIONS CORP, Thursday close $77.66, down 5 pct premarket
** WIPRO LTD, Thursday close $9.15
The company forecast full-year sales growth that missed analysts’ expectations by a margin of up to 50 percent, dimming investor hopes that India’s No.2 software services company will soon start reaping the benefits of its strategic revamp.
** ASHLAND INC, Thursday close $78.83, up 6 pct after market
Activist hedge fund Jana Partners LLC picked up a 7.4 percent stake in Ashland, saying the chemicals maker’s stock was “undervalued.” Jana Partners said Ashland’s current value represents “an attractive investment opportunity,” according to a regulatory filing.
** HARRIS CORP, Thursday close $46.56, down 7 pct aftermarket
The satellite operator estimated third-quarter results below analysts’ expectations and cut its forecast for the year ended June 29 on government budget uncertainty and the likelihood of “key international tactical radio orders” being delayed. Harris is scheduled to report third-quarter results on April 30.
The company also said it is restructuring its operations such as workforce reduction, facility consolidation, and prepayment of debt mainly in the fourth quarter, resulting in pre-tax charges of between $65 million and $115 million.
** IXIA INC, Thursday $18.68, down 5 pct aftermarket
The company, which makes telecom network testing products, estimated first-quarter revenue below its previous forecast, as $4.15 million that the company expected to recognize in the first quarter has now been recognized in prior periods that were restated. The company now expects first-quarter revenue of $121 million to $123 million.
** NETFLIX INC, Thursday close $173.01, up 3 pct premarket
The company’s Chief Executive Reed Hastings quickly took advantage of new federal rules on using social media to disclose information, posting on Facebook Thursday that members of the subscription service watched 4 billion hours of video in the past three months.
Earlier on Thursday, the company announced a multi-year agreement with toy maker Hasbro for children’s programming.
** HOME DEPOT INC, Thursday close $71.90, up 1 percent premarket
Jefferies & Co upgraded the home-improvement chain’s stock to “buy” from “hold,” saying it has a bullish view on sales for the near and intermediate terms. “Our recent checks continue to come back favorable, so while it may be chilly outside, we think weather will not impede Home Depot’s ability to post strong comparable-store sales in Q1,” Jefferies analyst Daniel Binder wrote in a note.
** BANK OF AMERICA CORP, Thursday close $12.27
** CITIGROUP INC, Thursday close $44.87
** GOLDMAN SACHS GROUP INC, Thursday close $149.07
** MORGAN STANLEY, Thursday close $22.27
At least three Wall Street analysts this week have written reports about the possibility of the biggest banks breaking themselves up to boost profitability, signaling that investors may be more willing to embrace an idea that is still toxic to some lawmakers in Washington.
** J.B. HUNT TRANSPORT SERVICES INC, Thursday close $74.22, down 3 pct aftermarket
The U.S. trucker’s first-quarter profit missed analysts’ estimates, hurt by higher costs at two of its businesses that contribute about 30 percent of the company’s total revenue.
** FORD MOTOR CO, Thursday close $13.55
The company announced on Thursday that it will introduce this month a 1.5-liter version of its turbo-charged “EcoBoost” engine. Ford in 2009 introduced EcoBoost, which allows smaller engines to have the power of larger ones while cutting fuel use through turbocharging, direct fuel injection and variable valve timing.
** AT&T INC, Thursday close $38.54
AT&T is expected to begin sales of the first smartphones preloaded with Facebook’s new family of “Home” applications.
** J.C. PENNEY CO INC, Thursday close $14.86, down 4.4 pct premarket
** BLACKSTONE GROUP LP, Thursday close $21.10
Troubled Penny has hired Blackstone’s financial advisory arm to explore how best to position the firm financially, three sources said on Thursday, while key investor William Ackman said shareholders were willing to put up more capital.
** WALTER ENERGY INC , Thursday close $24.12, up 5 pct premarket
The coal miner, which is locked in a proxy fight with an activist hedge fund, said on Thursday that its first-quarter performance had improved from that of the fourth quarter of 2012.