MARKET PULSE- Stanley Black & Decker, Receptos, Emcore, Isis Pharma

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U.S. stocks opened higher on Wednesday on optimism that U.S. politicians would strike a last-minute deal to prevent the country from defaulting on its debt, an event that could roil markets and economies worldwide.

The Dow Jones industrial average rose 0.58 percent, the S&P 500 gained 0.6 percent and the Nasdaq Composite added 0.63 percent.

** BANK OF AMERICA CORP, $14.49, up 2 pct (9:58 a.m. ET)

The bank reported a third-quarter profit of $2.22 billion compared with a loss a year earlier, as provisions for credit losses and expenses fell.

** STANLEY BLACK & DECKER INC (NYSE: SWJ - news) , $77.28, down 14 pct (9:58 a.m. ET)

The power tool maker cut its 2013 profit forecast due to the U.S. government spending cuts and shutdown and slower-than-expected margin expansion in its security business.

** MATTEL INC (NasdaqGS: MAT - news) , $43.30, up 4 pct (9:57 a.m. ET)

** HASBRO INC (NasdaqGS: HAS - news) , $47.28, up 3 pct

Toy maker Mattel topped Wall Street's profit estimates for the third quarter, benefiting from strong demand for its chubby-faced American Girl dolls and its Monster High line depicting the teen descendants of famous monsters.

Rival Hasbro is scheduled to report its quarterly results next week.

** ST. JUDE MEDICAL, $54.75, up 1 pct (9:57 a.m. ET)

The company posted a 49 percent jump in third-quarter profit as increased sales of devices to treat abnormal heart rhythms offset a decline in sales of pacemakers.

** MGIC INVESTMENT CORP, $8.08, up 11 pct (9:57 a.m. ET)

The mortgage insurer posted its second straight quarterly profit, after six years of losses, as a recovery in the U.S. housing market lowered the number of defaulters.

** BNY MELLON CORP, $31.11, up 1 pct (9:56 a.m. ET)

The bank reported a higher-than-expected quarterly profit due to rising fees from managing money, increased mutual fund balances and strength in foreign currency trading.

** ISIS PHARMACEUTICALS INC (Stuttgart: 881866 - news) , $32.25, up 3 pct (10:11 a.m. ET)

The drugmaker said it received $10 million in milestone payments from biotechnology company Biogen Idec Inc (NasdaqGS: BIIB - news) related to the clinical development of its experimental drug to treat myotonic dystrophy type I.

The drug, ISIS-DMPKRxDM1, is undergoing testing to treat the rare genetic neuromuscular disease characterized by progressive muscle atrophy, weakness and spasms.

** PORTOLA PHARMACEUTICALS INC (NasdaqGM: PTLA - news) , $21.88, down 4 pct (10:04 a.m. ET)

The California-based drug developer said it would offer 4.8 million common shares, expecting to raise about $95 million in net proceeds to fund the clinical development of three of its experimental drugs and for general corporate purposes.

** BLACKROCK INC (NYSE: BLK - news) , $285.53, up 1 pct (9:55 a.m. ET)

The world's largest money manager said its third-quarter profit rose 15 percent due to market growth and strong global demand from its retail and institutional clients.

** PEPSICO INC (NYSE: PEP - news) , $81.94, up 2 pct (9:55 a.m. ET)

The company reported higher quarterly earnings and said it was on track to meet its financial goals for the year, despite a sluggish economy. The maker of Pepsi-Cola, Frito-Lay snacks and Tropicana juice said net income was $1.91 billion, or $1.23 per share, in the third quarter, up less than 1 percent from $1.90 billion, or $1.21 per share, a year earlier.

** ABBOTT LABORATORIES (Xetra: 850103 - news) , $35.46, up 5 pct (9:53 a.m. ET)

The drugmaker reported better-than-expected quarterly earnings despite disrupted sales of its infant formulas in China, mainly due to cost cuts and lower taxes.

** JPMORGAN CHASE & CO (NYSE: JPM - news) , $53.43, up 2 pct (9:53 a.m. ET)

The bank has reached an agreement with the Commodity Futures Trading Commission to pay $100 million to settle charges related to the bank's "London Whale" trading scandal, according to media reports.

** YAHOO INC (NasdaqGS: YHOO - news) , $34.04, up 2 pct (9:53 a.m. ET)

Investors cheered the internet company's plans to keep a larger-than-expected stake in Chinese e-commerce giant Alibaba Group Holding Ltd, overlooking continuing softness in its core online advertising business. Yahoo said it would sell fewer shares than originally agreed from its 24 percent stake when Alibaba goes public.

At least seven brokerages raised their price targets on Yahoo's stock.

** ADVANCE AUTO PARTS INC (NYSE: AAP - news) , $96.25, up 14 pct (9:52 a.m. ET)

** O'REILLY AUTOMOTIVE INC, $131.06, up 1.5 pct

Advance Auto Parts said it would buy General Parts International Inc for just over $2 billion, creating the largest North American retailer of auto parts, as strong new car sales hit demand for repair and replacement.

Credit Suisse (NYSE: CS - news) analysts said they viewed the deal as a positive for Advance Auto's competitors, such as O'Reilly Automotive, as it would remove a competitor from the commercial repair market.

** RTI SURGICAL INC (NasdaqGS: RTIX - news) , $3.83, down 2 pct (9:51 a.m. ET)

The surgical implant company cut its revenue forecast for the third quarter, citing several factors including uncertainties related to a warning letter from the U.S. health regulator received in October last year.

The letter pertained to environmental monitoring activities in certain areas of RTI's processing facility in Alachua, Florida. The company now expects to report revenue of about $54.7 million, lower than the $59 million to $61 million forecast earlier.

** FORD MOTOR CO (NYSE: F - news) , $17.07, up 0.6 pct (9:50 a.m. ET)

** GENERAL MOTORS CO, $34.93, up 0.7 pct

Barclays (LSE: BARC.L - news) raised its price targets on the stocks of the car makers, saying it prefers Ford and GM (NYSE: GM - news) over auto parts suppliers. "Ford offers potential for continued international improvements, while GM is underappreciated and may see less selling pressure as the U.S. Treasury winds down its stake," analysts wrote in a note.

** RECEPTOS INC (NasdaqGM: RCPT - news) , $32.08, up 19 pct (9:50 a.m. ET)

Credit Suisse raised its price target on the drugmaker's stock to $31 from $21, maintaining its "outperform" rating, in an earnings preview research note issued on Wednesday.

** BERKSHIRE HATHAWAY (NYSE: BRK-A - news) , $115.16, up 0.5 pct (9:49 a.m. ET)

Marmon Group, which is owned by the company, will buy engineering company IMI Plc (LSE: IMI.L - news) 's beverage dispense and merchandising businesses for 690 million pounds ($1.10 billion).

** APPLE INC (NasdaqGS: AAPL - news) , $500.55, up 0.5 pct (9:46 a.m. ET)

Investors are looking to strong sales for the company's flagship iPhone 5S, shrugging off signs of less-than-stellar orders for the cheaper 5C model. Apple has told manufacturers of the 5C that it would cut orders of the smartphone for the final three months of the year, a source familiar with the supply chain situation said.

** WAL-MART STORES INC, $74.79, up 0.6 pct (9:46 a.m. ET)

The retailer expects slightly stronger sales growth next year as it makes changes such as opening more smaller U.S. stores and shutting 50 poorly performing stores in Brazil and China, executives said on Tuesday.

** CANADIAN SOLAR INC (NasdaqGS: CSIQ - news) , $21.46, up 3 pct (10:06 a.m. ET)

The solar panel maker said its unit has begun construction of a 100 megawatt solar power plant in Ontario, expected to be operational in 2015. The project is expected to generate revenue of about C$310 million ($301.1 million), the company said.

** REGENERON PHARMACEUTICALS INC (NasdaqGS: REGN - news) , $298.51, up 3 pct (9:45 a.m. ET)

** AMGEN INC (Xetra: 867900 - news) , $112.45, up 1 pct

A new type of cholesterol drug being developed by Regeneron Pharmaceuticals and Sanofi SA, when used by itself, cut levels of "bad" LDL cholesterol almost in half in the first of a dozen late-stage trials of the injectable medicine. The experimental drug, called alirocumab, is from a promising new class of injectable cholesterol fighters also being developed by Amgen Inc and other drugmakers.

Roth Capital analysts raised their price target on Regeneron's stock to $345 from $319. The company's focus has been the growth of its big-selling eye drug, Eylea, but is quickly moving to the broad pipeline, led by potential blockbuster candidate alirocumab, the analysts wrote in a note.

** TEVA PHARMACEUTICAL INDUSTRIES, $39.74, up 0.6 pct (9:45 a.m. ET)

The Israel-based company and the Israeli government will set up a joint team to examine ways to implement cost cutting measures that preserve most of the company's workforce in that country.

* WET SEAL INC (NasdaqGS: WTSL - news) , $3.64, down 5 pct (9:42 a.m. ET)

The California-based specialty apparel retailer forecast a wider loss for the current quarter as slower mall traffic forced it to discount more than planned.

"Following our strong start to the quarter, mall traffic softened considerably during September and has continued into October, resulting in an increasingly promotional competitive environment in recent weeks," Chief Executive John Goodman said.

** LINEAR TECHNOLOGY CORP, $38.63, down 2 pct (9:42 a.m. ET)

The semiconductor company posted first-quarter profit below Wall Street estimates and said it expected second-quarter revenue to be flat to down 4 percent from the first quarter as the U.S. government shutdown might affect its business.

On Wednesday, brokerages B.Riley & Co and Piper Jaffray cut their price targets on the company's stock following the results.

** J.C. PENNEY CO INC, $7.26, up 0.4 pct (9:42 a.m. ET)

A spokeswoman of the company denied a market rumor on Tuesday that the department store chain had hired bankruptcy counsel. Penney spokeswoman Kristin Kays said there was "no truth to the rumor," origins of which were unclear.

** FIRST SOLAR INC (Xetra: A0LEKM - news) , $44.46, up 2 pct (9:42 a.m. ET)

The solar company said it had entered into an agreement to construct a 250-megawatt solar power plant in California for a unit of NextEra Energy Resources LLC. The construction of the project will begin in late 2014.

** VIVUS INC (NasdaqGS: VVUS - news) , $9.73, down 3 pct (9:41 a.m. ET)

Leerink Swann slashed its price target on the drugmaker's stock to $17 from $20, citing softer-than-expected prescriptions of the obesity drug Qsymia reported by Vivus on Tuesday. JP Morgan (Other OTC: MGHL - news) also cut its price target on the stock to $18 from $22. Both Leerink and JP Morgan (Other OTC: JPYYL - news) maintained their "outperform" ratings on the stock.

** STR HOLDINGS INC (NYSE: STRI - news) , $2.22, up 2.6 pct (9:41 a.m. ET)

In a cost-saving move, the solar components maker eliminated positions of chief operating officer, vice president of human resources, chief technology officer and vice president of finance. Chief Operating Officer Barry Morris will stay on until Nov. 15, the company said. (http://r.reuters.com/fyj83v)

** EMCORE CORP, $5.06, up 5.4 pct (9:41 a.m. ET)

Activist investment firm Becker Drapkin Management L.P. said on Tuesday that it took a stake in the company, terming its shares "undervalued". Becker Drapkin said it intended to nominate three directors to the company's board at its annual shareholder meeting.

Becker Drapkin took a 7.1 percent stake in the maker of chip-based parts for broadband, fiber optic and satellite markets on Oct (KOSDAQ: 039200.KQ - news) . 2 and said it intends to discuss "ways in which the undervaluation of the common stock can be rectified" with the company. The stake makes Becker Drapkin the second-largest shareholder in Emcore.

** PNC FINANCIAL SERVICES (NYSE: PNC-WT - news) , $73.15, up 0.9 pct (9:40 a.m. ET)

The regional bank's quarterly results beat analysts' estimates as it set aside less money to cover credit losses. PNC earned $1.79 per share for the third quarter. Analysts on average were expecting $1.62, according to Thomson Reuters I/B/E/S.

** KEYCORP (NYSE: KEY - news) , $11.95, up 0.8 pct (9:40 a.m. ET)

The bank's quarterly results beat estimates, helped by lower provision for loan losses.

** EDWARDS LIFESCIENCES CORP (NYSE: EW - news) , $76.82, up 2.4 pct (9:39 a.m. ET)

Citigroup (NYSE: C - news) raised its rating on the medical device maker's stock to "buy" from "neutral," according to Theflyonthewall.com.

** ARCH COAL INC (NYSE: ACI - news) , $4.06, down 1.5 pct (9:39 a.m. ET)

Analysts at Morgan Stanley (Xetra: 885836 - news) cut their rating on the U.S. coal producer's stock to "underweight" from "equal weight," according to Theflyonthewall.com.

** IDENIX PHARMACEUTICALS INC (NasdaqGS: IDIX - news) , $3.80, up 3 pct (10:02 a.m. ET)

Credit Suisse analysts raised the Massachussett-based company's stock to "neutral" from "underperform," citing valuation. (Compiled by Sneha Banerjee in Bangalore; Editing by Kirti Pandey)