March 20 (Reuters) - Some U.S. stocks to watch on Wednesday:
U.S. stock index futures pointed to a higher open on Wall Street on Wednesday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 rising 0.3 to 0.6 percent.
** SUNTECH POWER HOLDINGS, Tuesday close $0.5860, down 21 pct premarket
The China-based solar panel maker declared bankruptcy on Wednesday, state news agency Xinhua said. [ID: nB9N0BW016]
** GEVO INC, Tuesday close $2.06, up 19 pct premarket
A U.S. district court’s ruling strengthened the biofuel company’s case that it does not infringe Butamax Advanced Biofuels LLC’s patents, analysts at Robert W Baird & Co wrote in a note. The two biofuel producers have been in a court battle over a patent for a method to commercially produce isobutanol.
The U.S. District Court of Delaware gave Gevo partial summary judgment on non-infringement on Tuesday. “The decision by the court gives us increased confidence in Gevo’s position,” said the analysts.
** ADOBE SYSTEMS INC, Tuesday close $40.75, up 6 pct premarket
The maker of Photoshop and Acrobat software raised its full-year adjusted earnings forecast after reporting first-quarter results above Wall Street estimates as more customers chose its subscription-based model.
** ZYNGA INC, Tuesday close $3.47, down 3 pct premarket
BofA Merril Lynch downgraded the online game maker’s stock to “neutral” from “buy”, theflyonthewall.com reported.
** ANADARKO PETROLEUM CORP, Tuesday close, up 2 pct premarket
The U.S. oil and gas company said on Tuesday it has discovered a large amount of oil at its Shenandoah-2 well in the deepwater Gulf of Mexico.
Anadarko has a large and active portfolio of deepwater oil and gas prospects in places including the Gulf of Mexico and Africa.
** JPMORGAN CHASE & CO, Tuesday close $49.20, up 1 pct premarket
The bank has reached a $546 million settlement with the trustee liquidating the failed broker-dealer unit of MF Global Holdings, a court filing showed, an amount that will help repay the brokerage’s customers.
As part of a settlement reached with James Giddens, the trustee who is tasked with liquidating MF Global Inc, JPMorgan will pay $100 million that will be made available for distribution to former MF Global customers.
** STAR SCIENTIFIC INC, Tuesday close $1.64, down 17 pct after market
The United States Attorney’s Office for the Eastern District of Virginia sent subpoenas to Star Scientific, its directors and others between this January and February, the maker of dietary supplements disclosed in a regulatory filing on Tuesday. ()
The company, which stopped selling smokeless tobacco products last year, said the subpoenas sought information on its securities, including private placement and related transactions since 2006.
** WILLIAMS-SONOMA INC, Tuesday close $45.21, up 6 pct after market
The U.S. home goods chain reported a higher-than-expected quarterly profit, aided by fewer discounts and strong online sales in the holiday season.
** MAXWELL TECHNOLOGIES INC, Tuesday close $7.44, down 6 pct after market
The maker of energy storage devices said its independent auditor McGladrey LLP resigned, citing “material weakness” in the company’s internal control over revenue recognition.
** FUEL TECH INC, Tuesday close $4.47, down 9 pct after market
The maker of air pollution control products posted a surprise quarterly loss, hurt by charges from an income tax settlement, impairment and reserves for bed debt.
** COBALT INTERNATIONAL ENERGY INC, Tuesday close $25.79, up 5 pct after market
Analysts at RBC Capital Markets raised the price target on the oil explorer’s stock to $36 from $34 based on the company’s successful exploration in West Africa and increased opportunities in the North Platte discovery well and the Shenandoah appraisal well in the Gulf of Mexico.
** FRANCESCA‘S HOLDINGS CORP, Tuesday close $26.98, up 4 pct after market
The women’s clothing retailer reported quarterly results that beat Wall Street estimates, helped by margin improvement and strong demand for its affordable clothing and jewelry.
** NEW MOUNTAIN FINANCE CORP, Tuesday close $14.64, down 3.5 pct after market
The private equity firm estimated its quarterly investment income per share largely below analysts’ estimates. It said it expected first-quarter net investment income of between 33 and 35 cents, while analysts were looking for 35 cents on average, according to Thomson Reuters I/B/E/S.