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10 Stocks to Watch: Harbin Electric, Nabors

NEW YORK ( TheStreet) -- Electric motor company Harbin Electric (HRBN) reached a deal to be bought by $24 a share by Cayman Islands-based Tech Full Electric , a group led by Harbin's CEO. Harbin shares were surging 84.2% to $15.45 in premarket trading Monday.

Land drilling contractor Nabors Industries (NBR - Get Report) expects its second-quarter operating income to be in the range of $165 million to $170 million. This is primarily due to lower-than-expected results from its pressure pumping, U.S. offshore and international businesses. Nabors shares were tumbling 4.2% to $23.03.

Financial firm ING (ING - Get Report) has confirmed that it is in talks to sell its European car-leasing unit for what media reports estimate to be €4 billion ($5.7 billion). Shares were falling 2.4% to $11.44.

Troubled mobile phone maker Nokia (NOK - Get Report) kicks off its annual Nokia Connection 2011 event on Tuesday in Singapore, where it will showcase it newest products. Shares were falling 2% to $5.90.

BlackBerry maker Research In Motion (RIMM) has been cut to underperform from market perform by Sanford Bernstein. Shares were falling 1.8% to $27.25.

PNC Financial Services (PNC - Get Report) has agreed to purchase the U.S. retail banking unit of Royal Bank of Canada (RY - Get Report) for $3.45 billion. PNC shares were down 0.9% to $57.30.

Conglomerate General Electric (GE - Get Report) and its two largest unions have reached a tentative, four-year labor deal affecting more than 15,000 GE workers. GE shares were down 0.7% to $18.37.

Although analysts expect that Airbus, on its home turf, will win the Paris Air Show order battle, it's anticipated that Boeing (BA - Get Report) will head into the show with more orders year to date, particularly on the widebodies. The show kicks off on Monday. Boeing shares were lower by 0.5% to $73.80.

Japanese electrical giant Panasonic (PC) said Monday it expects fiscal 2012 earnings of 30 billion yen ($373.7 million), a decrease of almost 60% from a year earlier because of the impact of the March 11 earthquake and tsunami.

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-- Written by Andrea Tse in New York.

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BA $153.80 1.96%
GE $26.11 0.46%
ING $14.98 1.01%
NOK $8.08 0.87%
NBR $12.54 -2.11%


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S&P 500 2,117.39 +12.89 0.61%
NASDAQ 5,008.0960 +44.5690 0.90%

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