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10 Stocks to Watch: Alcoa, BP

NEW YORK ( TheStreet) -- Aluminum producer Alcoa (AA - Get Report) was falling 2.8% to $17.27 in premarket trading Tuesday after reporting first-quarter earnings that squeaked past Wall Street expectations by a penny, but its top line missed analysts' estimates.

Oil giant BP (BP - Get Report) was falling 1.8% to $45.83 amid reports that it may be facing a lawsuit of around $10 billion from the management of joint venture TNK-BP over a violation of their shareholder contract.

Mobile device maker Nokia (NOK - Get Report) revealed two new smartphone products operating on the updated Symbian software. Nokia was down 0.7% to $8.97.

Consumer giant Procter & Gamble (PG - Get Report) announced a 9% quarterly dividend increase. P&G was down 0.1% to $62.10.

Teva Pharmaceutical (TEVA - Get Report) was rising 0.1% to $49.05 as Reuters reported that its experimental oral multiple sclerosis drug reduced the disease's relapse rate by 23% over a placebo in a late stage study.

Santa Clara, Calif.-based mobile networking equipment maker Extreme Networks (EXTR - Get Report) warned of a revenue shortfall in its fiscal third quarter.

Drug company Durect ( DRRX) said a Phase II clinical trial for its shingles-related, chronic lower back pain treatment Eladur didn't demonstrate a significant improvement for patients compared to a placebo.

Computer hardware company Hewlett-Packard ( HPQ) considered buying Tibco Software ( TIBX) until two weeks ago when the talks petered out, Reuters reported, citing two sources familiar with the matter.

Marine dry bulk transportation services provider Safe Bulkers (SB - Get Report) said it plans to offer 5 million common shares, proceeds of which will be used for vessel acquisitions, capital expenditures and other general corporate purposes, including debt repayment.

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-- Written by Andrea Tse in New York.

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Copyright 2011 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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TIBX $24.03 0.00%
AA $11.32 1.50%
BP $33.47 -0.06%
DRRX $1.41 0.71%
EXTR $3.36 0.60%


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