Market Pulse: Jos. A. Bank, Apple, Wal-Mart, Yum Brands, CytRx

LadRx

09/10/2013 13:15

(For more market insights, including options activity, click on STXNEWS/US ; for the Day Ahead newsletter http://link.reuters.com/mex49s;) U.S. stock index futures rose on Wednesday, indicating the S&P 500 may rebound from Tuesday's drop - its worst since August - after Janet Yellen was picked as the next chairman of the U.S. Federal Reserve. S&P 500 futures  SPc1  rose 6 points, Dow Jones industrial average futures  DJc1  gained 43 points and Nasdaq 100 futures  NDc1  added 10.5 points.  .N  ** APPLE INC  AAPL.O ,  Tuesday close $480.94, up 1 pct premarket Apple intends to introduce its latest line-up of iPads on Oct. 22, tech blog AllThingsD cited sources familiar with the company's plans as saying, meaning Apple would be updating its tablets in time for holiday shopping.  ID:nL1N0HY239  ** JOS. A. BANK CLOTHIERS INC  JOSB.O , Tuesday close $41.66, up 14 pct premarket ** MEN'S WEARHOUSE INC  MW.N ,  Tuesday close $35.24, up 33 pct premarket  Jos. A. Bank has proposed to buy bigger rival Men's Wearhouse for about $2.3 billion to create a men's apparel heavyweight with more than 1,700 stores.  ID:nL1N0HZ0BE  ** WAL-MART STORES INC  WMT.N , Tuesday close $72.90 Wal-Mart and Bharti Enterprises are breaking up their Indian joint venture, leaving the world's biggest retailer to go it alone in a country where it has struggled to build a bigger presence.  ID:nL4N0HZ107  ** FORD MOTOR CO  F.N , Tuesday close $16.50 Ford is poised to overtake its Japanese rivals on the top seller's list in China as Toyota Motor Corp  7203.T  and Honda Motor Co  7267.T  struggle to regain market share following a flare-up in anti-Japanese sentiment a year ago.  ID:nL4N0HZ0NN  ** YUM BRANDS INC  YUM.N , Tuesday close $71.30, down 7 pct after market The KFC parent on Tuesday warned that it will take longer than expected for its China restaurant sales to rebound, delaying a recovery in the market that accounts for more than half of the company's overall operating profit.  ID:nL1N0HY218  ** BERKSHIRE HATHAWAY INC  BRKa.N , Tuesday close $ ** GOLDMAN SACHS GROUP INC  GS.N , Tuesday close  Warren Buffett's Berkshire Hathaway disclosed a 2.8 percent passive stake in Goldman Sachs as it converted warrants acquired during the financial crisis.  ID:nL4N0HY3TU  ** ALCATEL-LUCENT  ALU.N , Tuesday close $3.49, up 1 pct premarket The French government warned telecoms equipment maker Alcatel-Lucent ALUA.PA on Wednesday it could block any restructuring plans for France unless it negotiates with unions to save as many local jobs as possible.  id:nL6N0HZ12Q  ** TWEETER HOME ENTERTAINMENT GROUP  THEGQ.PK , Tuesday close $0.01 The bankrupt consumer electronics company began trading under a new stock symbol intended to prevent investors from mistaking it for Twitter Inc, the Internet company whose forthcoming IPO is one of Wall Street's most highly-anticipated offerings.  ID:nL1N0HY24B  ** TWENTY-FIRST CENTURY FOX INC  FOXA.O , Tuesday close $32.44 Proxy advisory group ISS has urged Twenty-First Century Fox shareholders to vote against the reelection of Chairman Rupert Murdoch and some other board members at an annual shareholders meeting this month, criticizing the company's adoption of a poison pill.  ID:nL1N0HZ02F  ** ALPHATEC HOLDINGS INC  ATEC.O , Tuesday close $1.93, up 11 pct after market  The medical devices maker on Tuesday said it expects to report third-quarter revenue ahead of analysts' estimates, citing strong growth in all its markets. Jefferies & Co analysts said they continue to rate the stock "buy" as the company makes progress in stabilizing the business and delivering more consistent financial results against a very low valuation.  ID:nGNXUYWMTa  ** J C PENNEY CO INC  JCP.N , Tuesday close $7.77, up 2 pct premarket The struggling retailer said on Wednesday that Stephen Sadove will join its board of directors once he leaves the helm of department store chain Saks Inc  SKS.N .  ID:nL1N0HZ0GD  ** VIVUS INC  VVUS.O , Tuesday close $10.13, up 4 pct premarket The drugmaker, citing results of a study, said high-risk overweight patients with prediabetes and/or metabolic syndrome who were taking Vivus's weight-loss medicine Qsymia over two years experienced reductions of up to 78.7 percent in their annualized incidence rate of type 2 diabetes, in addition to losing weight.  ID:nGNXUYWLCa  ** GLADSTONE INVESTMENT CORP  GAIN.O , Tuesday close $6.80, up 2 pct after market The investment company increased its common stock monthly cash distributions by 20 percent for the quarter ended Sept. 30. ID:nPnPH93862  ** CYTRX CORP  CYTR.O , $2.74, down 17 pct premarket The drug developer said it will offer 10 million of its common stock at $2.25 per share, to raise gross proceeds of $22.5 million. The Los Angeles-based company intends to use net proceeds from the public offering to fund the clinical development of its experimental cancer drug, aldoxorubicin, and for general corporate purposes.  ID:nBw12HY7a  ** CALLIDUS SOFTWARE INC  CALD.O , Tuesday close $8.60, up 14 pct after market The HR management software maker lifted its revenue forecast for 2013 on Tuesday, prompting at least three brokerages to raise their price targets on the company's stock. The company said it expects revenue to be between $108.5 million and $109.5 million, compared with its previous forecast of $106.0 to $109.0 million.  ID:nMKW57341a  The company, which expects revenue in the third quarter to come in above its previous forecast, said it closed two seven-figure annual license deals in the quarter. ** HIMAX TECHNOLOGIES INC  HIMX.O , Tuesday close $10.08, up 3 pct after market CNBC's Jim Cramer, who hosts "Mad Money", said on Tuesday the Taiwanese chipmaker's stock was giving investors something to get excited about in a troubled market, The Street said. (http://link.reuters.com/bez63v) Cramer said the company has $1 per share in cash and also pays a 2.5 percent dividend, which will afford it some protection as the markets continue to fall, the report said.  Cramer had last week said the stock was a buy. ** TEVA PHARMACEUTICALS  TEVA.N , $Tuesday close $38.78 Teva  TEVA.TA  does not expect to see the launch of generic copies of GlaxoSmithKline's  GSK.L  best-selling lung drug Advair that could be sold as a true substitute to U.S. patients before 2018.  ID:nL6N0HY3YO  ** PFIZER INC  PFE.N , Tuesday close $28.24 Nearly three years after a cost-cutting drive that stunned many in the drugs industry, Pfizer's head of research Mikael Dolsten says his scientists are delivering more for less. ID:nL6N0HX32S  ** MEDTRONIC INC  MDT.N , Tuesday close $52.46 A federal advisory panel recommended that Medtronic Inc MDT.N be allowed to sell a line of implantable heart rhythm devices to a larger pool of patients, based on research showing the products lowered the risk of death and hospitalization. ID:nL1N0HY29X  ** BOEING CO  BA.N , Tuesday close $115.44 Stung by the loss of a multi-billion dollar jet order from Japan Airlines  9201.T  to arch-rival Airbus  EAD.PA , Boeing will mount an all-out defence of its position with Japan's other major airline, ANA, a source close to the U.S. planemaker said. ID:nL4N0HY3RQ  ** JPMORGAN CHASE & CO  JPM.N , Tuesday close $50.87 JP Morgan is looking to cut back on lending to businesses it sees as posing risks to its reputation amid a period of heightened regulatory scrutiny, the Wall Street Journal reported, citing people close to the situation.  ID:nL4N0HZ015  ** FAMILY DOLLAR  FDO.N , Tuesday close $69.45 Family Dollar posted a higher quarterly profit on Wednesday, as it worked on keeping its costs down while shoppers' focus on everyday purchases such as food pressured sales, and said it has a cautious approach to 2014.  ID:nL1N0HY21X  ** CHEVRON  CVX.N , Tuesday close $116.73 The second-largest U.S. oil company releases an interim update on the third quarter, which should show a recovery in its refining segment a year after a fire at its Richmond facility reduced output for months. ** HEWLETT-PACKARD CO  HPQ.N , Tuesday close $20.75 The company's CEO Meg Whitman talks to Wall Street analysts and investors about the state of the technology company. Wall Street will be focused on when HP will begin growing its revenues after the company said last quarter that it will not do so next year as previously expected. ** ON SEMICONDUCTOR CORP  ONNN.O , Tuesday close $6.99 The maker of power-management chips said it would cut up to 870 jobs at its Sanyo Semiconductor unit as it looks to reduce costs.  ID:nL4N0HY3VU  ** DYAX CORP  DYAX.O , Tuesday close $6.65, down 4 pct after market  The drugmaker said it would sell shares of its common stock in an underwritten public offering. The company did not say how many shares it would sell or their pricing.  ID:nBw4jzycYa  ** ALCOA INC  AA.N , Tuesday close $7.94, up 2.5 pct after market The aluminum producer reported better-than-expected earnings on Tuesday as strength at the unit that sells auto parts and other complex items helped offset lower metal prices. ID:nL1N0HY1XO  ** PACIFIC SUNWEAR OF CALIFORNIA INC  PSUN.O , Tuesday close $3.00, down 2 pct after market Piper Jaffray & Co on Tuesday downgraded its rating on the retailer's stock to "neutral" from "overweight," according to Streetinsider.com. ** SUNTECH POWER HOLDINGS CO LTD  STP.N , Tuesday close $1.70, up 11 pct premarket Hong Kong-listed Chinese solar panel maker Shunfeng Photovoltaic International Ltd  1165.HK  has submitted a bid for a stake in the main unit of rival Suntech, which is struggling under a mountain of debt.  ID:nL4N0HZ0XB  (Compiled by Chandni Doulatramani; Editing by Maju Samuel) ((chandni.doulatramani@thomsonreuters.com)(within U.S. +1 646 223 8780)(outside U.S. +91 80 6749 1130)(Reuters Messaging: Reuters messaging: chandni.doulatramani.thomsonreuters.com@reuters.net)) Keywords: MARKETS USA STOCKS/PULSE