Jan 27 - U.S. stock index futures inched higher on Monday,setting Wall Street up for a modest rebound after its worst weeksince June 2012 with investors focused on corporate earningsfrom big names like Caterpillar (NYSE: CAT - news) and Apple (NasdaqGS: AAPL - news) . S&P 500 e-minifutures rose 9.1 points and were above fair value, aformula that evaluates pricing by taking into account interestrates, dividends and time to expiration on the contract. DowJones industrial average futures rose 60 points andNasdaq 100 futures added 10.75 points.
JPMorgan cut its rating on Cisco's stock to "underweight"from "neutral," citing weakness in emerging markets serviceproviders and delayed spending in the switching market driven bysoftware-defined networking. The brokerage cut its price targeton the stock to $17 from $21.
** CATERPILLAR INC, Friday close $86.17, +6.59 pctpremarket
Caterpillar posted a stronger-than-expected quarterly profiton Monday as the world's largest mining and constructionequipment aggressively cut costs to offset continued sluggishsales of its earth-moving equipment.
** AT&T Friday close $33.42, +0.57 pct premarket
** VODAFONE GROUP PLC, Friday close $1.5-100.00 The U.S. mobile operator on Monday ruled out buying Vodafone for the next six months after an enquiry by Britain'stakeover panel following months of speculation.
The airplane maker said on Friday it is producing its 787Dreamliner at the highest ever rate of 10 per month, a milestonethe company had hoped to achieve by the end of 2013.
** PROCTER & GAMBLE CO Friday close $79.18, +0.36pct premarket
** KIMBERLY-CLARK CORP Friday close $107.4+0.00 The companies, two of the world's biggest household productsmakers, forecast strong sales gains in emerging markets onFriday, quelling investor fears that slowing growth in somecountries would hurt their prospects. P&G, the maker of Pampersdiapers and Tide (Oslo: TIDE.OL - news) detergent, said revenue rose 8 percent indeveloping countries in its fiscal second quarter, but barelyedged up in mature markets like the United States and Europe. Itstuck to its 2014 sales and profit forecasts. Kimberly-Clarkreported similar gains in emerging markets, helped by stronggrowth in China, and gave an upbeat 2014 forecast.
** WAL-MART STORES INC, Friday close $74.42, -0.52pct premarket
Wal-Mart said it cut roughly 2 percent of total employees,or about 2,300 jobs, at its Sam (Paris: FR0011660836 - news) 's Club retail warehouse chain onFriday, its biggest round of layoffs since 2010.
Workers represented by the Teamsters union at the truckingcompany approved a revised agreement, allowing YRC to beginrefinancing more than $1 billion of its debt. The agreement aimsat saving 30,000 jobs, the company said on Sunday night.
Google and Samsung Electronics Co Ltd, which arefrequently involved in patent infringement lawsuits but notagainst each other, announced on Sunday that they have reached aglobal patent cross-licensing agreement.
** ROYAL CARIBBEAN, Friday close $47.13, +1.11 pct
More than 300 passengers and crew members fell ill aboard aRoyal Caribbean cruise ship, many with vomiting and diarrhea,the Centers for Disease Control said on Sunday.
Royal Caribbean will report results before markets open onMonday.
** TEVA PHARMACEUTICAL INDUSTRIES, Friday close$42.93, +0.12 pct premarket
An EMA committee on Friday said it had concerns about animalstudies showing a higher occurrence of cancers after long-termexposure to Teva's multiple sclerosis (MS) drug laquinimod.
** NORDIC AMERICAN TANKERS LTD, Friday close $11.07,-0.54 pct premarket
The tanker company raised its quarterly dividend by about 56percent to 25 cents per share and said it would pay the amountin cash and stock. The company will pay a cash dividend of 12cents per share and the rest in shares of Nordic AmericanOffshore Ltd.
** AU OPTRONICS CORP, Friday close $2.91
Taiwan's AU Optronics, the world's fourth biggest LCD maker,posted on Monday its third consecutive quarterly profit thatbeat market expectations, boosted by robust shipments and lowinventory.
The solar panel maker said it would sell 57 megawatts ofpanels for three solar projects in United Kingdom. The panelswill be installed at projects in Cornwall, Dorset and Norfolk.The company said they began delivery in December and theprojects are expected to connect to the grid in March.
The solar company said it would sell a 10-megawatt solarpower plant in Ontario to a fund managed by BlackRock Inc (NYSE: BLK - news) . The company said the construction of the plant isunderway and operations are expected to begin in the secondquarter this year. (Compiled by Sruthi Ramakrishnan in Bangalore,)
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