(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 its worst week since June 2012, with investors focused on corporate earnings from big names like Caterpillar (NYSE: CAT - news) and Apple (NasdaqGS: AAPL - news) . S&P 500 e-mini futures rose 6.8 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 50 points and Nasdaq 100 futures added 5.75 points.
** PFIZER INC, Friday close $30.09, +0.03 pct premarket
Pfizer said its experimental lung cancer drug failed to meet its goals in two late-stage studies in patients who received prior treatment for advanced non-small cell lung cancer.
Analysts at BofA Merrill Lynch raised their rating on the U.S. coal miner to "neutral" from "underperform", according to Theflyonthewall.com
Brokerage Cantor Fitzgerald raised its price target on the social network's stock to $65 from $63 and said it expects Facebook 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 pct premarket
The world's second-largest cruise operator reported a fourth-quarter profit, compared to a year-earlier loss, buoyed by increased bookings in most markets.
Carnival Corp shares were also up on the news.
** GERON CORP, Friday close $5.62, -12.63 pct premarket
The company said about 20 patients enrolled in a trial testing its cancer drug, imetelstat, dropped out of the study. The company said the investigator-sponsored trial had enrolled 79 patients since it started. The study was testing imetelstat in patients with myelofibrosis and other myeloid malignancies, a group of blood cancers.
** YINGLI GREEN ENERGY HOLDING COMPANY LTD, Friday close $5.86, -2.05 pct premarket
** TRINA SOLAR LTD, Friday close $13.62, -0.95 pct premarket
** 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 pct premarket
** SUNPOWER CORP, Friday close $31.14, +0.19 pct premarket
Analysts at Roth Capital said confusion regarding China's targeted demand for solar consumption in 2014, along with the ongoing U.S.-China trade war and U.S. suspension of Chinese units of four accounting firms weighed on the solar companies' stocks. Analysts said the U.S. trade officials' investigation into imports of certain solar products from China and Taiwan, and the SEC suspension of accounting firms represent potential near-term industry headwinds.
The investigation could bar import of modules assembled in China into the U.S. market, resulting in higher prices and lower demand. "Not only could this adversely impact Chinese module manufacturers and Taiwanese cell manufacturers, but it could also negatively impact downstream companies in the US and the US market overall," analysts said in a note.
** SHANDA GAMES LTD, Friday close $5.65, +5.13 pct premarket
The Chinese online game developer said it received a $1.9 billion buyout offer from a consortium led by its controlling shareholder.
Barclays Capital cut its rating on the chip-component maker's stock to "underweight" from "equal weight," saying the stock was reflecting insufficient concern for revenue headwinds after 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 the stock to "market perform" from "outperform," saying the company's current valuation reflected potential revenue from its influenza injection and the promise of its experimental drug to treat hereditary angioedema, a rare disease characterized by swelling of the body.
Teamsters union members have approved YRC Worldwide's revised labor contract, clearing the way for the struggling trucking 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 pct premarket
** 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's takeover panel following months of speculation.
The airplane maker said on Friday it is producing its 787 Dreamliner at the highest ever rate of 10 per month, a milestone the company had hoped to achieve by the end of 2013.
** CATERPILLAR INC, Friday close $86.17, +6.06 pct premarket
Caterpillar posted a stronger-than-expected quarterly profit on Monday as the world's largest mining and construction equipment aggressively cut costs to offset continued sluggish sales of its earth-moving equipment.
JPMorgan cut its rating on Cisco's stock to "underweight" from "neutral," citing weakness in emerging markets service providers and delayed spending in the switching market driven by software-defined networking. The brokerage cut its price target on the stock to $17 from $21.
** PROCTER & GAMBLE CO Friday close $79.18, -0.16 pct premarket
** KIMBERLY-CLARK CORP Friday close $107.4, +0.34 pct premarket
The companies, two of the world's biggest household products makers, forecast strong sales gains in emerging markets on Friday, quelling investor fears that slowing growth in some countries would hurt their prospects. P&G, the maker of Pampers diapers and Tide (Oslo: TIDE.OL - news) detergent, said revenue rose 8 percent in developing countries in its fiscal second quarter, but barely edged up in mature markets like the United States and Europe. It stuck to its 2014 sales and profit forecasts. Kimberly-Clark reported similar gains in emerging markets, helped by strong growth in China, and gave an upbeat 2014 forecast.
** WAL-MART STORES INC, Friday close $74.42, -0.55 pct 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 on Friday, its biggest round of layoffs since 2010.
Google and Samsung Electronics Co Ltd, which are frequently involved in patent infringement lawsuits but not against each other, announced on Sunday that they have reached a global 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 animal studies showing a higher occurrence of cancers after long-term exposure 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 56 percent to 25 cents per share and said it would pay the amount in cash and stock. The company will pay a cash dividend of 12 cents per share and the rest in shares of Nordic American Offshore Ltd.
** AU OPTRONICS CORP, Friday close $1.5, -0.67 pct premarket
Taiwan's AU Optronics, the world's fourth biggest LCD maker, posted on Monday its third consecutive quarterly profit that beat market expectations, boosted by robust shipments and low inventory. (Compiled by Sruthi Ramakrishnan in Bangalore,)