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U.S. stock index futures were lower on Monday, on the heels of a fourth week of losses for the benchmark S&P 500, as quarterly results from IBM disappointed: Dow Jones industrial average futures were down 0.45 percent at 16,235, S&P 500 futures were down 0.05 percent at 1,880 and Nasdaq 100 futures were up 0.09 percent at 3,807.5.
** IBM CORP, Friday close $182.05, -6.87 pct premarket
IBM’s third-quarter profit and revenue misses analysts’ average estimate. The company said it expects an erosion in gross profit margin, after a slowdown in September in “client buying behavior.”
The company also said it would pay contract-chipmaker Globalfoundries Inc $1.5 billion in cash over the next three years to take its loss-making semiconductor unit off its hands.
** NEWLINK GENETICS CORP, Friday close $29.35, +30.32 pct premarket
The Ebola vaccine developer said it entered into a licensing agreement with Roche Holding AG to develop NewLink’s cancer immunotherapy, making the company eligible to receive over $1 billion in milestone payments.
** HALLIBURTON CO, Friday close $52.6, +3.23 pct premarket
The world’s No.2 oilfield services provider reported a better-than-expected quarterly profit, helped by buoyant shale drilling activity in North America.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, Friday close $120.21, +3.07 pct premarket
** ALLERGAN INC, Friday close $177.49, +1.98 pct premarket
Canada’s Valeant embroiled in a bitter fight to take over the Botox maker, posted a better-than-expected quarterly profit, driven by demand for its skin, neuro and eye drugs. The company also raised its full-year adjusted earnings forecast.
** CSX CORP, Friday close $33.86, -3.72 pct premarket
** CANADIAN PACIFIC RAILWAY LTD, Friday close $199.5
Canadian Pacific Railway said on Monday it had ended talks to buy No.3 U.S. railroad operator CSX.
The Wall Street Journal reported last week that Canadian Pacific had approached CSX about merging the two North American railroad operators, but that the offer had been rebuffed.
** EBAY INC, Friday close $47.95, +0.50 pct premarket
The online retailer said venture capitalist Marc Andreessen would quit its board, after it announced last month that it was spinning off its electronic payment unit, PayPal.
Andreessen has been involved in a public war of words with activist investor Carl Icahn, eBay’s sixth-largest shareholder, who successfully convinced the company to spin off PayPal.
** HASBRO INC, Friday close $53.85
The second-largest U.S. toymaker reported a 43 percent jump in quarterly profit, helped by higher international sales, particularly in Latin America and the Asia Pacific region.
** YAHOO INC, Friday close $38.45, +0.52 pct premarket
The Internet company is expected on Tuesday to outline cost-cutting efforts and give details of how it is evaluating possible acquisitions as it faces pressure from an activist investor, the Wall Street Journal reported, citing a person briefed on the plan.
Yahoo is considering acquiring one or more large technology startups with some of the $5.8 billion it made from the initial public offering of Alibaba Group Holding Ltd, the newspaper said.
** PHILIPS NV, Friday close $28.07, -3.88 pct premarket
The Dutch healthcare and lighting company swung to a net loss in the third quarter after weak demand in key markets such as Russia and China was compounded by a patent lawsuit ruling against the company and inventory writedowns.
** SANOFI SA, Friday close $51.8
** REGENERON, Friday close $369.64, -0.17 pct premarket
The French drugmaker and its U.S. partner Regeneron said on Monday they had started a Phase III clinical study of their experimental drug dupilumab in patients with atopic dermatitis.
In a mid-stage trial, the injectable drug, which is also being tested against asthma and chronic sinusitis, had significantly reduced skin lesions and itching in adult patients suffering from atopic dermatitis, a chronic form of eczema that is poorly controlled by standard drugs
** SEARS HOLDINGS CORP, Friday close $28.41, +1.83 pct premarket
The struggling retailer said it would raise up to $625 million through a rights offering of 8 percent senior notes and attached warrants, in another effort to boost liquidity ahead of the crucial holiday shopping season.
** CLECO CORP, Friday close $48.27, +11.77 pct premarket
An investor group led by Macquarie Infrastructure and Real Assets has agreed to buy the Louisiana electricity supplier in a deal valued at about $4.7 billion, including about $1.3 billion of assumed debt.
The $55.37 per share offer represents a premium of about 15 percent to Cleco stock’s Friday close.
** MEAD JOHNSON NUTRITION CO, Friday close $100.23, -5.22 pct premarket
French foods group Danone SA said on Sunday it was not conducting a strategic review of assets and had not decided on any priority in terms of possible external growth possibilities.
The maker of Activia yoghurt and Evian water made the comments after sources familiar with the matter told Reuters on Friday Danone had decided it wants to pursue a takeover of U.S. infant formula maker Mead Johnson.
** SUNOCO LOGISTICS PARTNERS LP, Friday close $45.62, +2.59 pct premarket
The 280,000 barrel-per-day Mid-Valley pipeline segment from Longview, Texas to Mayersville, Mississippi, continues to remain shut following a crude oil spill last week, the pipeline operator said on Sunday.
** WILLIAMS COMPANIES INC, Friday close $52.1
** QEP RESOURCES INC, Friday close $23.18, +7.20 pct premarket
Williams is said to be one of the bidders for QEP’s natural gas pipeline unit, Bloomberg reported, citing people familiar with the matter. (Compiled by Shailaja Sharma in Bangalore; Editing by Joyjeet Das)