From MARKET TALK:
0848 GMT [Dow Jones] US stocks are set for a weaker start
Tuesday after the S&P 500 recorded a new all-time closing high
in the previous session, says Matt Basi, head of UK sales trading
at CMC Markets. Calls the DJIA down 10 points at 14,809 and the
S&P 500 two points lower at 1592. Says investors are likely to
await the next catalyst to propel stocks higher. At 1300 GMT,
S&P/Case-Shiller home price index, at 1345 GMT Chicago PMI data
and at 1400 GMT consumer confidence data. Earnings from Pfizer and
NYSE Euronext will also garner attention. The DJIA front month
futures contract is currently flat at 14752.00 and S&P 500
futures contract is down 0.1% at 1587.00.
(nina.bains@dowjones.com)
Contact us in London. +44-20-7842-9464
Markettalk.eu@dowjones.com
HOT STOCKS TO WATCH
Among the companies with shares expected to actively trade in
Tuesday's session are Riverbed Technology Inc. (RVBD), HeartWare
International Inc. (HTWR) and Neostem Inc. (NBS).
Riverbed Technology swung to a first-quarter loss as acquisition
costs and feeble government spending hurt the network-equipment
maker's performance. The San Francisco company also surprised
investors with lower-than-expected sales of its main wide-area
network optimization product, which helps large organizations
shuttle data between head offices and smaller branch offices.
Shares were down 6.8% to $13.84 after hours.
HeartWare's first-quarter loss narrowed on U.S. sales of its
implantable heart pumps. The latest period marks the first
full-quarter of U.S. commercial sales of its HeartWare Ventricular
Assist System, which is a bridge-to-transplant therapy for patients
with advanced stage heart failure. Shares rose 7.2% to $91.60 after
hours as per-share earnings results topped consensus estimates.
Biotechnology services company Neostem revealed plans to offer
stock, but didn't say how many shares it plans to sell. Shares fell
11% after hours to 56 cents.
Datalink Corp.'s (DTLK) first-quarter earnings fell 49% as
operating expenses at the provider of data-center infrastructure
and services increased, offsetting stronger revenue that was helped
by an acquisition, although core earnings improved. Shares jumped
8.3% to $11.20 in after-hours trading Monday, as the company
offered second-quarter revenue guidance above analyst
expectations.
Northern Tier Energy LP (NTI) said Northern Tier Holdings LLC is
offering 10 million units, decreasing its stake to 55.4% from
66.3%. The energy company's units were off 2.4% to $25.42 in
after-hours trading.
Texas Roadhouse Inc.'s (TXRH) first-quarter earnings rose 39% as
the casual steakhouse operator opened new restaurants, and sales
increased at its existing locations. Shares climbed 6.9% to $22.80
after hours.
Watch List:
Standard & Poor's Ratings Services lowered its rating on
Allscripts Healthcare Solutions Inc. (MDRX) by one notch, citing
product-integrations issues and declining sales at the electric
health-records company.
Arch Capital Group Ltd.'s (ACGL) first-quarter earnings rose 56%
as the insurance and reinsurance company saw its premiums and its
foreign-exchange gains rise.
A New York State judge denied summary judgment Monday to Bank of
America Corp.(BAC) and MBIA Insurance Corp. (MBI) in a longstanding
battle over who is liable for losses racked up after the collapse
of the housing market.
Cablevision Systems Corp. (CVC) has agreed to sell the bulk of
its Clearview Cinemas movie theaters to privately held Bow Tie
Cinemas as it continues to shed non-core businesses. Terms of the
deal weren't disclosed.
Community Health Systems Inc.'s (CYH) first-quarter earnings
rose 4.9% as the hospital operator benefited from slightly stronger
revenue despite weaker admissions.
Express Scripts Holding Co. (ESRX) said Monday its first-quarter
earnings rose 39%, fueled by last year's Medco Health Solutions
deal, and the company slightly increased its full-year earnings
outlook.
General Growth Properties Inc.'s (GGP) first-quarter loss
narrowed as the mall landlord posted lower warrant liability
adjustments and a gain on the extinguishment of debt, while revenue
rose.
Hartford Financial Services Group Inc. (HIG) swung to a
first-quarter loss as the insurer booked charges tied to its
transformation into a more-focused company.
Helen of Troy Corp.'s (HELE) fiscal fourth-quarter earnings rose
7.5% as the personal-care and household-products maker posted sales
growth across its segments.
Herbalife Ltd.'s (HLF) first-quarter earnings rose 9.9% as the
nutritional-supplements maker posted double-digit sales growth.
Per-share earnings topped Herbalife's expectations and the company
again raised its full-year earnings view.
Hertz Global Holdings Inc. (HTZ) swung to a first-quarter
profit, as the car-rental company's sales were boosted by the
recent purchase of Dollar Thrifty Automotive Group. Results easily
exceeded Wall Street's expectations, as both the car and equipment
rental segments benefited from stronger volumes and better
pricing.
Hydrogenics Corp. (HYGS, HYG.T) said it intends to offer an
undisclosed number of shares, using the proceeds for general
purposes.
Macquarie Infrastructure Co. LLC (MIC) said it is offering 3.04
million shares, while Macquarie Investment Management, which owns a
12% stake in the company, is offering 2.49 million shares. The
energy infrastructure owner, which recently had around 37.6 million
shares outstanding, expects to use its portion of the proceeds to
pay down debt.
Masco Corp.'s (MAS) first-quarter profit rose 42% as the
building-products manufacturer benefited from robust new-home
construction in North America. However, results missed analyst
expectations.
Meritor Inc. (MTOR) has agreed to sell its 50% ownership stake
in a Brazilian joint venture to its joint-venture partner Randon SA
Implementos e Participacoes for $195 million, and plans to use
proceeds to strengthen its balance sheet.
Newmont Mining Corp.'s (NEM) first-quarter profit fell 36% as
the gold-mining company reported that its gold production
declined.
New York hedge fund Jana Partners LLC disclosed a 9.1% stake in
Oil States International Inc. (OIS), calling the diversified
oilfield services company's shares undervalued.
PartnerRe Ltd.'s (PRE) first-quarter earnings fell 35% as the
reinsurer posted sharply lower realized and unrealized investment
gains. However, excluding those impacts, operating profit was up
more than expected.
Plum Creek Timber Co.'s (PCL) first-quarter earnings almost
doubled as the real-estate investment trust posted wider
margins.
Post Properties Inc.'s (PPS) first-quarter earnings slipped 7%
as a gain from the sale of real-estate assets boosted the
real-estate investment trust's year-earlier results, though revenue
and funds from operation improved in the latest period.
Qiagen NV's (QGEN) first-quarter earnings fell 30% mostly on
higher business integration expenses and other items as the
medical-testing technologies company also said it acquired
privately held software company Ingenuity Systems Inc. for $105
million, expanding its capabilities in genetic data analysis and
interpretation--a key growth area in the sector.
Safeway Inc. (SWY) has named President Robert L. Edwards to
succeed Steven A. Burd as chief executive when Mr. Burd retires
next month.
Time Warner Cable Inc. (TWC) named Arthur T. Minson Jr. as its
new chief financial officer, effective May 2, replacing Irene M.
Esteves.
Write to Nathalie Tadena at nathalie.tadena@dowjones.com
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