(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks fell on Monday to continue their recent decline, with the S&P 500 dropping to its lowest level since May on global growth concerns. The Dow Jones industrial average was down 0.19 percent at 16,513.34, the S&P 500 was down 0.36 percent at 1,899.18 and the Nasdaq Composite was down 0.28 percent at 4,264.41.
** ALCO STORES INC, $0.5, -69.70 pct
The Texas-based discounter filed for bankruptcy, joining the list of smaller U.S. retailers seeking protection from creditors. The company said it entered into debtor-in-possession credit agreement of $110 million and senior secured-term loan of $12.7 million.
** DORAL FINANCIAL CORP, $6.94, +31.19 pct
A Puerto Rico judge ruled in favor of the Puerto Rican bank in $229 million tax dispute with Puerto Rico Treasury Department
** LITHIA MOTORS INC, $67.16, -16.94 pct
The car seller estimated its quarterly profit missed its forecast as used car prices fell. The said it now expected $1.30-$1.32 per share in adjusted earnings from continuing operations for the third quarter ended Sept. 30 - below its forecast of $1.36-$1.38.
** DRYSHIPS, $1.581, -15.00 pct
The drybulk shipper withdrew its offering of $700 million of senior notes, citing market conditions.
** CSX CORP, $32.9, +9.89 pct
** CANADIAN PACIFIC RAILWAY LTD, $189.22, -0.08 pct
** UNION PACIFIC CORP, $100.63, -0.70 pct
** NORFOLK SOUTHERN CORP, $105.85, +3.41 pct
** KANSAS CITY SOUTHERN, $116.55, +3.54 pct
Canadian Pacific Railway Ltd has approached the U.S. rail road operator CSX about merging the two North American railroad operators to create a transcontinental carrier worth more than $60 billion, according to the Wall Street Journal.
Shares of Union Pacific, Norfolk Southern and Kansas City were also up.
** FIAT CHRYSLER AUTOMOBILES, $8.92, +2.53 pct
Fiat Chrysler Automobiles made its Wall Street debut to great fanfare on Monday, shifting the carmaker’s centre of gravity away from Italy and capping a decade of canny dealmaking and tough restructuring by CEO Sergio Marchionne.
FCA shares opened at $9.00 in New York, up from a Friday close for the predecessor company Fiat of $8.7, and rose to as much as $9.55 in early trading. In Milan, where the company will keep a secondary listing, shares rose more than 4 percent during the session and were up 0.9 percent at 1440 GMT.
** IBIO INC, $2.47, +68.03 pct
** TEKMIRA PHARMACEUTICALS CORP, $23.6, +3.51 pct
** LAKELAND INDUSTRIES INC, $21.71, +10.60 pct
** ALPHA PRO TECH LTD, $8.65, +16.42 pct
A Texas health worker contracted Ebola after treating a Liberian, Thomas Eric Duncan, who died of the disease in Dallas last week.
Shares of biotechnology company Ibio, Ebola drugmaker Tekmira Pharma, hazmat suits maker Lakeland Industries and face mask maker Alpha Pro Tech Ltd were up on the news.
** TARGA RESOURCES CORP, $115.62, -4.96 pct
** TARGA RESOURCES PARTNERS LP, $60.31, -5.74 pct
** ATLAS ENERGY LP, $38.31, +18.20 pct
** ATLAS PIPELINE PARTNERS LP, $35.64, +6.01 pct
Pipeline company Targa Resources and its unit Targa Resources Partners said they would buy Atlas Energy LP and Atlas Pipeline Partners for $5.9 billion, excluding debt.
** ARCELORMITTAL SA, $12.49, +3.91 pct
** BHP BILLITON LTD, $57.66, +3.46 pct
** RIO TINTO PLC, $49.85, +4.40 pct
** VALE SA SHARES, $11.48, +5.32 pct
** CLIFFS NATURAL RESOURCES INC, $8.27, +12.98 pct
Chinese steel and iron ore futures surged 4 percent to reach their upside limits on Monday as investors covered short positions on expectations prices may have hit bottom after sliding to record lows over the past two weeks. China’s iron ore imports rose 13 pct from August to 84.69 million tonnes in September, the second highest monthly volume on record, customs data showed.
** ALNYLAM PHARMACEUTICALS INC, $85.69, +17.63 pct
The biotechnology company announced 6-month data from an ongoing mid-stage study evaluating its experimental drug to treat Transthyretin (TTR)-mediated amyloidosis - an inherited, often fatal, disease caused by mutations in the TTR gene. “In this open-label study with patisiran, we are very encouraged to see what we believe to be evidence for possible stabilization of neuropathy progression after the first six months of treatment,” Chief Medical Officer Akshay Vaishnaw said on Monday.
** J.C. PENNEY CO INC, $7.36, +3.37 pct
The department store operator named Marvin Ellison, credited with resurrecting Home Depot Inc’s U.S. business, as its next chief executive as it looks to push on since stemming a two-year long sales decline.
** LUXOTTICA GROUP SPA, $47.33, -8.45 pct
The maker of Ray Ban and Oakley said on Sunday Co-Chief Executive Enrico Cavatorta planned to resign, barely two months after assuming the role
** RANDGOLD RESOURCES, $70.435, +6.24 pct
The gold miner’s U.S.-listed shares rise after UBS raises rating on company’s London-listed stock to “buy” from “neutral”.
** FOAMIX PHARMA, $5.66, +11.42 pct
Three brokerages start coverage on the drug developer’s stock with their highest rating. Cowen and Co, Oppenheimer & Co started covering the stock with an “outperform” rating, while Barclays Capital starts with “overweight”. Cowen and Oppenheimer cite positive data from the mid-stage trial of the company’s foam-based treatment for acne-related lesions.
** SHUTTERFLY INC, $42.342, -9.83 pct
Private equity firm Silver Lake failed to reach a deal to acquire and combine photo-sharing sites Shutterfly Inc and Snapfish by a deadline on Friday, Bloomberg reported, citing people familiar with the matter.
** CYTOKINETICS INC, $3.14, +2.28 pct
The drug developer said its experimental therapy for muscle weakness was found safe and well tolerated in five early-stage trials. The company said the drug’s oral tablet formulation was found appropriate for mid-stage trial.
Compiled by Ankit Ajmera in Bangalore; Editing by Sriraj Kalluvila