BUZZ-U.S. Stocks on the Move-Alibaba, Ascena Retail, Salix, ReWalk Robotics
(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 moving lower on Tuesday, putting the S&P on track for a third straight decline, as conflict in the Middle East intensified and after the U.S. Treasury moved to curb "tax inversion" deals.
The Dow Jones industrial average futures were down 0.28 percent at 17,051, S&P 500 futures were down 0.33 percent at 1,979.75 and Nasdaq 100 futures were down 0.35 percent at 4,038.5.
** SALIX PHARMACEUTICALS LTD Monday close $159.83, +8.55 pct premarket
** ALLERGAN INC, Monday close $166.12
** VALEANT PHARMACEUTICALS INC, Monday close $116.28
Allergan has revived discussions to buy Salix, but the exact status of the discussions between the two drugmakers could not be immediately established.
The botox maker is trying to seal a deal with Salix in order to fend off a $53 billion hostile offer from Valeant. Salix said in July it would merge with an Irish subsidiary of Cosmo Pharmaceuticals SpA in a so-called tax inversion.
Cantor Fitzgerald raised its target price on Salix's stock to $181 from $154, saying the company is still attractive to multiple buyers.