(Corrects Friday close and premarket move in Pfizer (NYSE: PFE - news) item)(For more market insights, including options activity, click on ; for the Day Ahead newsletter http://link.reuters.com/mex49s; for the Morning News Call newsletter, http://link.reuters.com/nex49s)
Wall Street was set for a modest rebound on Monday after itsworst week since June 2012, with investors focused on corporateearnings from big names like Caterpillar (NYSE: CAT - news) and Apple (NasdaqGS: AAPL - news) . S&P 500e-mini futures rose 6.8 points and were above fair value,a formula that evaluates pricing by taking into account interestrates, dividends and time to expiration on the contract. DowJones industrial average futures rose 50 points andNasdaq 100 futures added 5.75 points.
** PFIZER INC, Friday close $30.09, +0.03 pctpremarket
Pfizer said its experimental lung cancer drug failed to meetits goals in two late-stage studies in patients who receivedprior treatment for advanced non-small cell lung cancer.
Analysts at BofA Merrill Lynch raised their rating on theU.S. coal miner to "neutral" from "underperform", according toTheflyonthewall.com
Brokerage Cantor Fitzgerald raised its price target on thesocial network's stock to $65 from $63 and said it expectsFacebook to report solid fourth-quarter results on Wednesday,driven mainly by higher mobile ad revenue.
** ROYAL CARIBBEAN, Friday close $47.13, +3.53 pct
** CARNIVAL CORP, Friday close $1.5, -0.67 pctpremarket
The world's second-largest cruise operator reported afourth-quarter profit, compared to a year-earlier loss, buoyedby increased bookings in most markets.
Carnival Corp shares were also up on the news.
** GERON CORP, Friday close $5.62, -12.63 pctpremarket
The company said about 20 patients enrolled in a trialtesting its cancer drug, imetelstat, dropped out of the study.The company said the investigator-sponsored trial had enrolled79 patients since it started. The study was testing imetelstatin patients with myelofibrosis and other myeloid malignancies, agroup of blood cancers.
** YINGLI GREEN ENERGY HOLDING COMPANY LTD, Fridayclose $5.86, -2.05 pct premarket
** TRINA SOLAR LTD, Friday close $13.62, -0.95 pctpremarket
** JINKOSOLAR HOLDING CO LTD, Friday close$29.7, -4.28 pct premarket
** JA SOLAR HOLDINGS CO LTD, Friday close$8.79, -2.05 pct premarket
** SOLARCITY CORP, Friday close $70.48, +0.38 pctpremarket
** SUNPOWER CORP, Friday close $31.14, +0.19 pctpremarket
Analysts at Roth Capital said confusion regarding China'stargeted demand for solar consumption in 2014, along with theongoing U.S.-China trade war and U.S. suspension of Chineseunits of four accounting firms weighed on the solar companies'stocks. Analysts said the U.S. trade officials' investigationinto imports of certain solar products from China and Taiwan,and the SEC suspension of accounting firms represent potentialnear-term industry headwinds.
The investigation could bar import of modules assembled inChina into the U.S. market, resulting in higher prices and lowerdemand. "Not only could this adversely impact Chinese modulemanufacturers and Taiwanese cell manufacturers, but it couldalso negatively impact downstream companies in the US and the USmarket overall," analysts said in a note.
** SHANDA GAMES LTD, Friday close $5.65, +5.13 pctpremarket
The Chinese online game developer said it received a $1.9billion buyout offer from a consortium led by its controllingshareholder.
Barclays Capital cut its rating on the chip-componentmaker's stock to "underweight" from "equal weight," saying thestock was reflecting insufficient concern for revenue headwindsafter its cost-cutting efforts.
** BIOCRYST PHARMACEUTICALS INC Monday close$11.6, -5.78 pct premarket
Wells Fargo (Berlin: NWT.BE - news) analyst Brian Abrahams cut his rating on thestock to "market perform" from "outperform," saying thecompany's current valuation reflected potential revenue from itsinfluenza injection and the promise of its experimental drug totreat hereditary angioedema, a rare disease characterized byswelling of the body.
Teamsters union members have approved YRC Worldwide'srevised labor contract, clearing the way for the strugglingtrucking company to proceed with its refinancing plans.
** AT&T Friday close $33.42, +0.30 pct premarket
** VODAFONE GROUP PLC, Friday close $1.5, -0.67 pctpremarket
** SPRINT CORP, Friday close $1.5, -0.67 pct premarket
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.
** CATERPILLAR INC, Friday close $86.17, +6.06 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.
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.
** PROCTER & GAMBLE CO Friday close $79.18, -0.16pct premarket
** KIMBERLY-CLARK CORP Friday close $107.4, +0.34pct premarket
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, -0.55pct 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.
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.
** TEVA PHARMACEUTICAL INDUSTRIES, Friday close$42.93, +0.86 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,-0.63 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 $1.5, -0.67 pctpremarket
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. (Compiled by Sruthi Ramakrishnan in Bangalore,)
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