This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Feb. 18 Premarket Briefing: 10 Things You Should Know

Updated from 6:45 a.m. EST.

Here are 10 things you should know for Tuesday, Feb. 18:   

1.-- U.S. stock futures were flat on Tuesday ahead of data on manufacturing and housing.

European stocks fell on Tuesday and Asian indices finished mixed as China's central bank mopped up liquidity from the market and a German index of investor confidence fell sharply.

2.-- The economic calendar in the U.S. on Tuesday includes the Empire State Manufacturing Index for February at 8:30 a.m. EST, and the NAHB Housing Market Index for February at 10 a.m.

3.-- U.S. stocks on Friday booked their second-straight week of gains on Friday after consumer sentiment beat expectations.

The S&P 500 rose Friday by 0.48% to close at 1,838.63, while the Dow Jones Industrial Average gained 0.79% to 16,154.39. The Nasdaq gained 0.08% to 4,244.02. The S&P, Dow and Nasdaq gained 2.3%, 2.3% and 2.9%, respectively, for the week.

Markets in the U.S. were closed Monday for President's Day.

Must Read: Cash Dividend On The Way From PartnerRe Series D Cumulative Redeemable Preferred Shares

4.-- Actavis agreed to acquire rival drug maker Forest Laboratories (FRX) in a cash-and-stock worth about $25 billion.

The deal would create a combined company spanning both generic and branded drugs, including Forest's Alzheimer's treatment Namenda and the antidepressant Lexapro.

Dublin-based Actavis will pay Forest shareholders $26.04 in cash and a portion of an Actavis share for each Forest share. The price of $89.48 is a premium of about 25% over Forest's closing price on Friday.

Forest shares were surging in premarket trading, up 34.8% to $96.26. 

5.-- Beverage giant Coca-Cola (KO - Get Report) reported fourth-quarter earnings of $1.71 billion, or 38 cents a share, down from $1.87 billion, or 41 cents, a year earlier. 

Adjusted earnings in the fourth quarter were 46 cents a share.

Revenue fell to $11.04 billion from $11.46 billion a year earlier.

Wall Street expected Coca-Cola to report fourth-quarter earnings of 46 cents a share on revenue of $11.31 billion.

In premarket trading, Coke shares fell 1.1% to $38.51.

6.-- BHP Billiton (BHP), the world's biggest miner, reported on Tuesday a better-than-expected half year profit of $8.1 billion as cost cuts offset lower commodity prices.

BHP's net profit for the July-December half year jumped 83% to $8.1 billion from $4.4 billion a year earlier.

The stock rose 3% in premarket trading.

7.-- Duke Energy (DUK) said Tuesday that fourth-quarter earnings rose to 97 cents a share from year-earlier profit of 62 cents.

Analysts expected earnings of 95 cents a share.

The stock slipped 0.1% in premarket trading.

8.-- Nutrition supplements company Herbalife (HLF) is expected by Wall Street on Tuesday to report fourth-quarter earnings of $1.25 a share on sales of $1.25 billion.

9.-- Barry Sternlicht, chairman and CEO of Starwood Capital Group, has spoken to banks as he prepares to sell shares of the property-investment firm to investors, a person familiar with the matter told Bloomberg.

Starwood probably will sell a minority stake in an initial public offering, said the person. Sternlicht told Bloomberg Television in December 2012 he was considering a stake sale to raise cash and finance new businesses. In November, he said he may consider IPOs of some of Starwood's holdings.

10.-- Chindex (CHDX), a U.S. health care provider in China, reached an agreement to be acquired by a group led by private-equity firm TPG Capital for $369 million, or $19.50 a share.

Chindex shares closed Friday at $17.15.

-- Written by Joseph Woelfel

To contact the writer of this article, click here:Joseph Woelfel

To submit a news tip, send an email to:tips@thestreet.com.

Follow @josephwoe58

 

Actavis  will pay Forest shareholders $26.04 in cash and a portion of an  Actavis  share for each Forest share. The total, per-share price of $89.48 represents a premium of about 25 percent over Friday's closing price.
Copyright 2014 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
FRX $99.00 -0.77%
KO $39.49 0.00%
AAPL $125.30 -1.00%
FB $87.28 0.00%
GOOG $523.40 0.00%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs