8 Min Read
April 29 (Reuters) - Some U.S. stocks on the move on Monday:
U.S. stocks rose at the open on Monday as the formation of a broad coalition government in Italy ended two months of political uncertainty and boosted an appetite for risky assets, while investors braced for major economic data this week. The Dow Jones industrial average rose 0.24 percent, the S&P 500 gained 0.33 percent and the Nasdaq Composite rose 0.42 percent.
** CONCEPTUS INC, $30.96, up 20 pct (0931 ET)
Germany's Bayer AG has agreed to buy the U.S. contraceptive devices maker for $1.1 billion, aiming to underpin its position as the world's largest women's healthcare provider.
** SINA CORP, $59.74, up 19 pct (0932 ET)
** YAHOO INC, $24.72, up 0.3 pct (0932 ET)
China's largest Internet portal and media website Alibaba Group, which has been trying to break into the social networking market, has acquired an 18 percent stake in web portal Sina's microblogging service Weibo for about $586 million.
** GALECTIN THERAPEUTICS, $4.85, up 17 pct (0942 ET)
The drugmaker said its experimental drugs were found to reverse the most advanced stage of liver fibrosis, called cirrhosis, in animals given toxin-induced cirrhosis.
"The experimental design of these studies provided a very high hurdle for any drug to show effectiveness, and yet both GR-MD-02 and GM-CT-01 passed the test," Dr. Friedman, Chief of the division of liver diseases at the Icahn School of Medicine, said in a statement.
** MOODY'S CORP, $58.21, up 6 pct (0931 ET)
** MCGRAW-HILL COS INC, $53.8, up 4 pct (0931 ET)
Moody's Investors Service and Standard & Poor's on Friday said they have settled two long-running lawsuits seeking to hold them responsible for misleading investors about the safety of risky debt vehicles that they had rated. The lawsuits had accused Moody's, a unit of Moody's Corp, and S&P, a unit of McGraw-Hill Cos, of negligent misrepresentation over their activities regarding the Cheyne and Rhinebridge structured investment vehicles (SIVs).
** ACTAVIS INC, $106.93, up 6 pct (0933 ET)
A proposed merger of Valeant Pharmaceuticals International Inc and Actavis was put on hold after the two drugmakers failed to agree on terms of a deal that would have created a healthcare giant with a combined market value of $35 billion, a person familiar with the situation told Reuters on Saturday.
** TENET HEALTHCARE INC, $46.46, up 13 pct (0933 ET)
** HCA HOLDINGS INC, $40.93, up 7 pct (0934 ET)
** HEALTH MANAGEMENT ASSOCIATES INC, $11.84, up 6 pct (0934 ET)
** COMMUNITY HEALTH SYSTEMS INC, $46.02, up 6 pct (1003 ET)
The U.S. government health insurance plan for seniors proposed on Friday a 0.8 percent increase in hospital payments for fiscal 2014 - a level analysts said was within expectations.
Baird said on Monday that the payment increase was better than expected for the hospital operators industry, with Tenet and HCA being "the biggest winners."
** MEDIDATA SOLUTIONS INC, $60.61, up 12 pct (0935 ET)
The company, which provides software to drugmakers for clinical analysis, reported better-than-expected first-quarter results.
** APPLE INC, $424.8, up 2 pct (0956 ET)
The U.S. computer giant has tapped Deutsche Bank and Goldman Sachs to lead meetings with bond investors, a source said on Monday, as it mulls its first-ever sale of debt.
** NII HOLDINGS INC, $9.35, up 6 pct (0935 ET)
Wells Fargo raised its rating on the Latin American telecom service provider's stock to "outperform" from "market perform" as it expects the company to divest its tower assets at a higher price.
"We believe NII will divest of its 4,500 towers in Mexico and Brazil at a price higher than the Street expects," Wells Fargo analyst Jennifer Fritzsche said in a note.
** BIOGEN IDEC INC, $221.5, up 4 pct (0947 ET)
ISI Group analyst Mark Schoenebaum said IMS Health and Wolters Kluwer's latest data on prescriptions of Biogen's oral multiple sclerosis drug, Tecfidera, showed "amazing" growth in the drug's adoption. The analyst said he now predicts Tecfidera sales could exceed $450 million in the United States this year, ahead of consensus estimates of $240 million to $300 million.
** MBIA INC, $9.95, down 4 pct (0947 ET)
The bond insurer is working with law firm Weil Gotshal & Manges as it seeks to avoid possible rehabilitation of its structured finance unit by a New York regulator, a source familiar with the matter said on Friday.
** LAS VEGAS SANDS CORP, $54.61, down 3 pct (0949 ET)
The casino company said on Friday that accounting firm PricewaterhouseCoopers will not stand for re-election as the company's auditor, ending a 25-year relationship with Sands founder and chairman Sheldon Adelson.
** EATON CORP PLC, $60.55, up 3 pct (0948 ET)
The Electrical and hydraulic systems maker reported a better-than-expected 28 percent rise in operating profit as its acquisition of Cooper Industries last year propped up sales in its electrical business.
** J.C. PENNEY CO INC, $17.54, up 3 pct (0933 ET)
The retailer said on Monday it had lined up a five-year, $1.75 billion financing package from Goldman Sachs Group Inc , the latest move by the struggling company to shore up its finances.
** NORTHERN TIER ENERGY LP, $25.86, up 2 pct (0933 ET)
The oil refiner and retailer said late on Friday that adjusted earnings before interest, taxes, depreciation and amortization for January-March quarter is expected to be higher, partly because the company sold more refined products.
** KINROSS GOLD CORP, $5.36, down 2 pct (0953 ET)
The Toronto-based miner is pushing ahead with plans to expand its Tasiast project in Mauritania with a feasibility study for a 38,000-tonne-per-day mill and said it expected the initial capital cost for the project to be about $2.7 billion.
** SOHU.COM INC, $52.06, up 2.5 pct (0936 ET)
The China-based internet portal reported better-than-expected first-quarter results helped by growing advertising revenue, and forecast current-quarter revenue well above analysts' estimates.
** HOMESTREET INC, $20.98, down 3 pct (0953 ET)
The bank holding company posted a smaller-than-expected first-quarter profit as mortgage servicing income fell 61 percent to $3.07 million, and the company incurred higher non-interest expenses.
** LEAP WIRELESS INTERNATIONAL INC, $5.90, down 5 pct (0938ET)
J.P. Morgan cut its rating on the low-cost mobile services provider's stock to "underweight" from "neutral", citing weakening subscriber trends, increasing competition, and challenging cash flow.
** AVEO ONCOLOGY $7.21, down 4 pct (0949 ET)
The company which focuses on cancer drugs reported a bigger-than-expected first-quarter loss, as it did not receive revenue from its collaboration with Johnson & Johnson Inc .
** LIQUIDITY SERVICES INC, $33.04, down 3 percent (0953 ET)
BofA Merrill Lynch downgraded its rating on the online auctioneer's stock to "underperform," Benzinga.com reported.
** CENTRAL EUROPEAN MEDIA ENTERPRISE LTD, $3.95, down 9 pct (0955 ET)
The broadcaster's first-quarter loss widened to $109 million, or $1.22 per share, from $13.8 million, or 21 cents per share, a year earlier. (Compiled by Maria Ajit Thomas in Bangalore; Editing by Roshni Menon)