BUZZ-U.S. Stocks on the Move-Durata, Alcobra, Unilife, Brazil stocks
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U.S. stocks rose on Monday, extending a rally from the previous session as investors grew more confident in the economy's strength and Federal Reserve policy. The Dow Jones industrial average was rising 76.01 points, or 0.45 percent, to 17,085.7, the S&P 500 was gaining 8.18 points, or 0.42 percent, to 1,976.08 and the Nasdaq Composite was adding 13.42 points, or 0.3 percent, to 4,489.05.
** DURATA THERAPEUTICS, $23.53, +69.52 pct
Drugmaker Actavis PLC said it would acquire Durata Therapeutics in a deal valued at about $675 million. Actavis' offer of $23 per share represents a premium of 66 percent to Durata stock's closing price on Friday.
** ALCOBRA LTD, $7.298, -48.28 pct
The company said its drug to treat adult attention deficit disorder, Metadoxine, cleared a late-stage study, but after excluding data from four of 300 patients who reacted positively to a placebo. Company says "extreme placebo responses" inconsistent with reports in previous trials.
Through Friday's close, stock had fallen 19 pct since Sept. 19 when company said it completed a follow-up on patients in the study. Shares were set to open at a one-and-a-half-year low on Monday.
** UNILIFE CORPORATION, $2.829, +30.37 pct Continued...