September 29, 2014 / 3:13 PM / 3 years ago

BUZZ-U.S. Stocks on the Move-Ambit, Tonix, Brazilian companies

6 Min Read

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U.S. stocks were sharply lower on Monday, extending the previous week's decline on heavy volume as investors monitored the continued civil unrest in Hong Kong for any potential impact on Chinese growth. The Dow Jones industrial average was down 0.45 percent at 17,036.09 and the S&P 500 was down 0.35 percent at 1,975.85.

** AMBIT BIOSCIENCES CORP, $15.27, +86.22 pct

The drugmaker said Daiichi Sankyo Co Ltd will buy the company for $410 million, or $15 per share in cash. The company said the deal includes Ambit's lead blood cancer drug, quizartinib, which is currently in late-stage studies.

** TONIX PHARMACEUTICALS HOLDING CORP, $7.3042, -47.68 pct

The company said its lead pain drug had failed the main goal of a mid-stage study testing if it reduced pain experienced by patients by the 12th week of the trial.

** EINSTEIN NOAH RESTAURANT GROUP INC, $20.14, +50.41 pct

Noah's New York Bagels chain owner said it would be taken private for about $374 million, or $20.25 per share, by an affiliate of Joh Benckiser, the investment vehicle of Germany's billionaire Reimann family.

** CIVEO CORP, $13.9, -45.43 pct

The workforce accommodation provider said it expects fourth-quarter results to be lower than the third quarter and gave a weaker-than-expected 2014 revenue forecast. The company also said it would not pursue a REIT structure while re-domiciling to Canada. Susquehanna cut its rating on the stock to "neutral" from "positive" and nearly halved its price target to $16.

** TIBCO SOFTWARE INC, $23.555, +20.73 pct

The business software maker said buyout firm Vista Equity Partners had agreed to take it private for $4.3 billion.

** ATHLON ENERGY INC, $58.22, +24.59 pct

** ENCANA CORP, $21.624, +2.34 pct

Encana, Canada's largest natural gas producer, said it would buy Athlon Energy for $5.93 billion in cash, excluding debt, as it accelerates its plan to focus on more-lucrative oil and natural-gas liquids (NGLs).

** DREAMWORKS ANIMATION SKG INC, $26.195, +17.15 pct

Japan's SoftBank Corp is in talks to acquire DreamWorks, the Hollywood studio behind the "Shrek" and "Madagascar" movie hits, a person with knowledge of the situation said.

** ALIMERA SCIENCES INC, $5.67, +15.13 pct

** PSIVIDA CORP, $4.45, +3.73 pct

The U.S. Food and Drug Administration approved the companies' vision-loss treatment Iluvien after three rejections. PSivida said the approval entitles it to get a milestone payment of $25 million.

** EXELIXIS INC, $1.665, +6.73 pct

The cancer drug developer's skin cancer drug cobimetinib combined with Genentech's Zelboraf doubled the time before the disease worsened, compared to only Zelboraf. Exelixis is entitled to royalties from sales of the drug and as well as half the profits and losses.

** PETROLEO BRASILEIRO PETROBRAS SA, $14.75, -10.39 pct

** VALE SA, $10.97, -1.97 pct

** GOL LINHAS AEREAS INTELIGENTES SA, $5.11, -3.95 pct

** AMBEV SA, $6.515, -4.05 pct

An election poll released on Friday showed Brazilian President Dilma Rousseff gaining on challenger Marina Silva ahead of Sunday's election. Brazilian investors have been heavily critical of Rousseff's government for enacting policies that have gone against minority shareholder interests in state-run companies and a tendency to enact one-off stimulus measures rather than structural reforms.

** NXT-ID INC, $2.4642, -11.04 pct

The biometric authentication company said on Friday production of some components for its Wocket smart wallet had been delayed due to vendor issues. The company said the production of other components on schedule and it was gearing up for full-scale production in early 2015.

** VIGGLE INC, $4.2893, +31.17 pct

The entertainment services provider reported a 15 percent rise in quarterly revenue. The company said its net registered users jumped about 75 percent to 5.4 million at the end of the fourth quarter.

** AMAG PHARMACEUTICALS INC, $26.7, +15.19 pct

Amag said it would buy privately held women's healthcare company Lumara Health Inc for $675 million in cash and stock, gaining access to the only approved product designed to reduce the risk of preterm birth.

** NISOURCE INC, $40.42, +4.77 pct

The energy company said it would split into publicly traded companies, separating its utilities and pipeline businesses. Under the plan, NiSource will list its natural gas pipeline division as Columbia Pipeline Group, which is expected to trade on the New York Stock Exchange under the ticker "COLP." NiSource will remain a natural gas and electric utilities business, and its listing will not change.

** APPLE INC, $100.13, -0.62 pct

The European Commission will publish on Tuesday its reasons for opening an in-depth inquiry into the Irish government's tax treatment of Apple, a Commission spokesman said.

** ENDOCYTE INC, $7.32, -0.27 pct

The cancer drug developer said the combination of its experimental lung cancer drug vintafolide with chemotherapy agent, docetaxel, cuts risk of disease worsening or death by 27 percent, compared to docetaxel alone. (Compiled by Anannya Pramanick; Edited by Maju Samuel)

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