6 Min Read
(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for more market insights, including options activity, ; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s)
U.S. stock index futures were modestly higher on Monday, indicating the S&P 500 would open near record levels, amid corporate merger activity and as hopes grew for more monetary stimulus in European markets. Dow Jones industrial average futures were up 0.31 percent at 17,046, S&P 500 futures were up 0.34 percent at 1,994.5 and Nasdaq 100 futures were up 0.39 percent at 4,070.75.
** BURGER KING WORLDWIDE INC, Friday close $27.11, +16.01 pct premarket
** TIM HORTONS INC, Friday close $62.84, +16.88 pct premarket
Burger King is in talks to acquire Canadian coffee and doughnut chain Tim Hortons Inc in a deal that would create a fast food powerhouse with a market capitalization of roughly $18 billion.
** INTERMUNE INC, Friday close $53.8, +36.08 pct premarket
Roche Holding AG has agreed to buy U.S. biotech company InterMune for $8.3 billion in cash, helping the world's leading maker of cancer drugs expand into the treatment of rare or incurable diseases.
** REGADO BIOSCIENCES INC, Friday close $2.84, -40.49 pct premarket
Regado Biosciences said it stopped enrollment in a late-stage trial of its lead drug after an independent safety panel raised serious concerns of allergic reactions.
** ADVAXIS INC, Friday close $3.25
Advaxis on Monday said it will test an experimental immuno-oncology drug in combination with a high-profile immunotherapy from Merck & Co Inc as a treatment for patients with advanced prostate cancer.
** ANN INC, Friday close $37.52
An activist investor urged women's apparel retailer to sell itself, saying it could fetch as much as $2.52 billion, failing which each of the company's board members should buy back stock as a "sign of confidence".
** SONOCO PRODUCTS CO, Friday close $40.3
Sonoco Products on Monday said it agreed to buy Germany's privately held Weidenhammer Packaging Group for about $383 million in cash, which would give a boost to its packaging business.
The deal is expected to increase Sonoco's global consumer-related packaging and services business to about $2.8 billion in annual sales, the company said in a statement.
** AMAZON.COM INC, Friday close $331.59
The company is planning to develop its own software for placing advertisements online, The Wall Street Journal reported, citing people with knowledge of the matter.
While the in-house platform is initially planned to replace ads supplied by Google Inc on Amazon's own website, the new system could challenge Google and Microsoft Corp's advertising business in the future, the newspaper cited the people as saying.
** SONY CORP, Friday close $18.86
The company's PlayStation Network was back online on Monday following a cyber attack that took it down over the weekend, which coincided with a bomb scare on a commercial flight carrying a top Sony executive in the United States.
** ALLERGAN INC, Friday close $165.56
Investors owning 31 percent of shares of Allergan have asked the company to call a special shareholder meeting, activist shareholder William Ackman said on Friday, giving the hedge fund manager a victory in his fight to acquire the Botox maker.
** WALGREEN CO, Friday close $61.05
The pharmacy chain suffered a system outage for several hours on Friday, taking all of its 8,200 pharmacy outlets offline and delaying prescription orders. The company faced a "technical issue" during a system update and had to bring the entire system offline to resolve it, spokesman Michael Polzin said.
** BOEING CO, Friday close $127.46, +0.32 pct premarket
BOC Aviation, the leasing subsidiary of Bank of China , said it has placed an order for a total of 80 Boeing 737 series aircraft for delivery from 2016 to 2021. Monday's order comprises 50 737 Max 8 and 30 Next Generation 737-800 aircraft.
** LAYNE CHRISTENSEN CO, Friday close $11.29
Layne Christensen's largest shareholder said it had asked the water management company to reorganize and consider selling a division to repay debt.
Investment manager Van Den Berg Management I Inc, which said it presented its proposals to the company on Aug. 13, said it held a 16.2 percent stake in the Woodlands, Texas-based company.
** MICROSOFT CORP, Friday close $45.15
** GOOGLE INC, Friday close $592.54
** APPLE INC, Friday close $101.32, +0.60 pct premarket
China could have a new homegrown operating system by October to take on imported rivals such as Microsoft, Google and Apple, Xinhua news agency said on Sunday.
Computer technology became an area of tension between China and the United States after a number of run-ins over cyber security. China is now looking to help its domestic industry catch up with imported systems such as Microsoft's Windows and Google's mobile operating system Android.
** FREEPORT-MCMORAN INC, Friday close $36.44
As negotiations to resolve an increasingly bitter dispute over Indonesian mining rules teetered on the brink of collapse, the chairman of Freeport-McMoRan James "Jim Bob" Moffett flew to Jakarta for last-ditch talks. (Compiled by Lehar Maan in Bangalore; Edited by Maju Samuel)