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MARKET PULSE-McDonald's, Crocs, Amicus, Urban Outfitters, Pep Boys
September 10, 2013 / 1:16 PM / in 4 years

MARKET PULSE-McDonald's, Crocs, Amicus, Urban Outfitters, Pep Boys

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Sept. 10 (Reuters) - Some U.S. stocks to watch on Tuesday:


U.S. stock index futures rose, putting the S&P 500 on track for a sixth day of gains, following another batch of rosy economic data out of China and as expectations eased about a Western military strike against Syria. S&P 500 futures rose 10.4 points, Dow Jones industrial average futures gained 88 points, and Nasdaq 100 futures added 21 points.

** APPLE INC, Monday close $506.17, up 0.5 pct premarket

Apple is expected to introduce a cheaper version of the iPhone on Tuesday, bringing one of the industry’s costliest smartphones within reach of the masses in poorer emerging markets.

** MCDONALD‘S CORP, Monday close $96.45, up 1 pct premarket

The fast food chain reported a better-than-expected 1.9 percent increase in global sales at established restaurants in August, helped by stronger sales in Europe.

** GOLDMAN SACHS GROUP INC, Monday close $159.49, up 2.7 pct premarket

** VISA INC, Monday close $178.55, up 2.5 pct premarket

** NIKE INC, Monday close $65.40, up 2.3 pct premarket

** ALCOA INC, Monday close $8.08, down 1.2 pct premarket

** BANK OF AMERICA CORP, Monday close $14.48

** HEWLETT-PACKARD CO, Monday close $22.36, down 1.3 pct premarket

Goldman Sachs, Visa and Nike will replace Alcoa, Bank of America and Hewlett-Packard as components of the Dow Jones Industrial Average, effective Sept. 23.

** AMICUS THERAPEUTICS, Monday close $2.55, up 20 pct premarket

The biotechnology company said it has entered into a collaboration with Biogen Idec to develop and commercialize novel small molecules for the treatment of Parkinson’s disease. The collaboration includes funding by Biogen.

** CHEMOCENTRYX INC, Monday close $8.26, down 19 pct premarket

The biopharmaceutical company said its experimental drug for treating a diabetic kidney disease reduced the level of protein in the urine, a sign of kidney damage. Interim data from a mid-stage trial of the drug, CCX140, showed patients getting 5 mg doses for two weeks had a 12 percent reduction in urine protein levels.

Investment website said investors might have been expecting a reduction of 20 percent or more.

** URBAN OUTFITTERS INC, Monday close $42.71, down 8 pct after market

The teen apparel chain said in a regulatory filing on Monday that percentage growth in its same-store net sales, including online sales, was trending in the mid-single digit in the current quarter. This forecast missed analysts’ estimates. Janney Capital Markets analyst Adrienne Tennant cut the price target on the stock to $46 from $52, saying she expected the 9 percent growth of the second quarter to continue into this quarter.

** CYTORI THERAPEUTICS INC, Monday close $2.39, up 7 pct premarket

Roth Capital Partners reinstated its “buy” rating on the medical device maker’s stock with a $10 price target, saying positive data from the trials on Cytori’s cell therapy for chronic ischemic heart failure would boost its U.S. profile.

** CROCS INC, Monday close $13.61, down 5 pct premarket

The maker of colorful clogs cut its revenue and profit forecasts for the quarter ending Sept. 30, citing weakness in its Americas business.

** PEP BOYS-MANNY MOE AND JACK, Monday close $11.52, down 4 pct premarket

The auto repair chain reported a lower-than-expected profit for the second quarter as tire sales fell.

** MODEL N INC, Monday close $14.73, down 38 pct premarket

The revenue management software maker forecast revenue for the year ending September 2014 below analysts’ estimates on Monday. Raymond James, Stifel Nicolaus and JP Morgan cut their ratings on the stock on Tuesday.

Analysts at Stifel said the company did not clearly articulate a plan to cut expenses. Raymond James analysts said a return to revenue growth could be delayed well into 2015 unless the company quickly improved sales execution.

** NEUROCRINE BIOSCIENCES INC, Monday close $16.70, down 28 pct premarket

The company said on Monday that a lower dose of its experimental drug to treat a rare movement disorder did not meet the main goal of a mid-stage clinical study. Cowen and Co cut its price target on the stock to $19 from $20 while MKM Partners cut its target to $13.50 from $17.00 and Oppenheimer to $15 from $19.

** MARVELL TECHNOLOGY GROUP LTD, Monday close $12.57, up 3 pct premarket

J.P. Morgan Securities upgraded the chipmaker’s stock to “overweight” from “neutral”, saying the company’s product development and execution over the last 18 months has spurred growth in its mobile/wireless and storage markets. The brokerage, expecting the company to control costs, raised its price target on the stock to $16 from $14.

** PALO ALTO NETWORKS INC, Monday close $46.84, up 3.3 pct premarket

The security software maker on Monday reported better-than-expected revenue for the fourth quarter, citing a rise in demand for its appliances and contributions from more recurring subscription and maintenance services. At least four brokerages raised their price targets on the stock.

** HD SUPPLY HOLDINGS INC, Monday close $24.74, down 9.5 pct premarket

The construction products supplier reported a wider quarterly loss for the second quarter due to expenses associated with debt restructuring. The company also forecast fiscal 2013 results below analysts’ estimates.

** STARWOOD PROPERTY TRUST INC, Monday close $25.04, down 4 pct premarket

The company, which finances and manages commercial mortgage loans, said it was offering 25 million shares in an underwritten public offering.

** L&L ENERGY INC, Monday close $2.89, up 15 pct after market

The coal miner’s first-quarter profit more than doubled as production was boosted by the acquisition of two mines in China in November. Production rose 54 percent to 228,000 tons in the quarter.

** FIVE BELOW INC, Monday close $41.04, up 14 pct after market

The specialty value retailer reported better-than-expected results for the second quarter due to a 6.6 percent increase in same-store sales. The company also raised its full-year earnings and revenue forecast.

** PVH CORP, Monday close $132.11, down 4.4 pct after market

The maker of Calvin Klein and Tommy Hilfiger clothes gave a third-quarter sales and profit forecast that was below analysts’ estimates. The company characterized the global environment as “challenging”.

** BLACKBERRY LTD, Monday close $11.53, down 4 pct premarket

The Canadian company’s biggest shareholder has approached several large Canadian investment funds about forging a deal to take the smartphone maker private, but the proposal is still “an airy-fairy, ‘what if’ kind of thing,” according to a source with direct knowledge of the situation.

** GLAXOSMITHKLINE PLC, Monday close $50.46, down 1 pct premarket

The threat of generic copies of the company’s best-selling lung drug Advair finally making it to the market in the United States hit confidence in the drugmaker.

** MICROSOFT CORP, Monday close $31.65, up 1 pct premarket

At least three of the top 20 investors in the company want a turnaround expert to succeed Steve Ballmer as chief executive. They have urged the technology giant’s board to consider Ford Motor Co Chief Executive Alan Mulally and Computer Sciences Corp Chief Executive Mike Lawrie for the job, several sources familiar with the matter said.

** VODAFONE PLC , Monday close $33.34, down 1.5 pct premarket

The company is facing pressure from Kabel Deutschland’s largest shareholder to raise its 7.7 billion euro ($10.1 billion) offer for Germany’s largest cable company, two sources familiar with the situation told Reuters on Monday. Activist investor Paul E. Singer, founder of U.S. hedge fund Elliott Asset Management, more than doubled his stake to 10.9 percent on Sept. 6, Kabel Deutschland said on Monday two days before shareholders have to decide whether to accept Vodafone’s offer.

** ADVANCED MICRO DEVICES INC, Monday close $3.69, up 2 pct premarket

The chipmaker, targeting new markets as personal computer sales decline, unveiled chips designed to run slot machines, factory robots, airport signs, medical equipment and other devices. (Compiled by Varun Aggarwal; Editing by Kirti Pandey)

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