BUZZ-U.S. Stocks on the Move-Annie's, Threshold Pharma, Rocket Fuel
(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 were lower in early trading on Tuesday, as investors found 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 0.50 percent at 17,026.3, the S&P 500 was down 0.40 percent at 1,993.6 and the Nasdaq Composite was down 0.31 percent at 4,577.984.
** GENERAL MILLS INC, $53.31, -0.37 pct
** ANNIE'S INC, $46.06, +37.45 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, $4.9099, +6.51 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.