BUZZ-U.S. Stocks on the Move-Annie's, Threshold Pharma, Netflix
(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. stocks dipped at the open on Tuesday, continuing a streak of modest moves, as investors find few reasons to push equities higher in the wake of a rally that has sent the benchmark S&P index to repeated records. The Dow Jones industrial average was down 0.38 percent at 17,045.59, the S&P 500 was down 0.34 percent at 1,994.66 and the Nasdaq Composite was down 0.37 percent at 4,575.472.
** GENERAL MILLS INC, $53.5, -0.02 pct
** ANNIE'S INC, $46.01, +37.30 pct
General Mills Inc, the maker of Cheerios cereal and Betty Crocker cake mixes, said it would acquire organic food producer Annie's for about $820 million to expand its presence in the fast-growing U.S. natural foods market.
** THRESHOLD PHARMACEUTICALS INC, $5.173, +12.21 pct
Cantor Fitzgerald initiated coverage on the drug developer's stock with a "buy" rating and a $14 price target, based on the potential of its experimental cancer drug, code named TH-302. The brokerage expects peak revenue of $2 billion in 2025 for the drug in pancreatic cancer and soft tissue sarcoma indications. TH-302 is currently in late-stage trials.