November 17, 2014 / 4:23 PM / 3 years ago

BUZZ-U.S. Stocks on the Move-Valley Financial, Baker Hughes, Exterran

6 Min Read

(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 dipped on Monday, following four consecutive weeks of gains on Wall Street, as energy shares fell alongside crude futures after Japan slipped into recession. The Dow Jones industrial average was up 0.04 percent at 17,642.45, the S&P 500 was down 0.07 percent at 2,038.37 and the Nasdaq Composite was down 0.47 percent at 4,666.333.

** HALLIBURTON CO, $50.28, -8.71 pct

** BAKER HUGHES INC, $66.39, +10.85 pct

** SCHLUMBERGER NV, $95.74, +0.44 pct

Halliburton, the world's second-largest oilfield services provider, will buy smaller rival Baker Hughes for about $35 billion in cash and stock, creating an oilfield services behemoth to take on market leader Schlumberger as falling oil prices threaten to erode demand.

** ALLERGAN INC, $210.62, +6.03 pct

** ACTAVIS PLC, $248.18, +1.81 pct

Allergan agreed to be bought by Actavis for $66 billion, putting an end to a hostile bid by activist investor William Ackman and Valeant Pharmaceuticals International Inc.

** VALLEY FINANCIAL CORP, $19.8, +48.75 pct

** BNC BANCORP, $16.94, +0.89 pct

Lender Valley Financial will be bought by BNC Bancorp for about $101 million, or $20.50 per share, in an all-stock deal.

** CELLDEX THERAPEUTICS INC, $18.1201, +27.97 pct

Interim data showed the drug maker's brain tumor drug shrunk tumor, improved survival in patients without the disease worsening.

"Based on these data and when final medians are achieved, CLDX will look to the FDA to define a potential accelerated path to approval," Roth Capital analysts said.

Roth raised its price target on the stock to $43 from $40, while Cowen and Co raised to $26 from $22.

** AMICUS THERAPEUTICS INC, $6.55, +15.11 pct

The drug developer said experimental drug migalastat showed statistically significant decrease in cardiac risks in patients with Fabry disease in a late-stage study.

** ABENGOA SA, $11.57, +26.59 pct

Close to half of Abengoa's market value was wiped out on Friday when comments made on the company's latest results call on the structure of its debt triggered a sell-off

** ASCENA RETAIL GROUP INC, $12.29, -6.58 pct

Avondale Partners downgraded the apparel and footwear retailer's stock to "market perform" from "outperform", according to Theflyonthewall.com.

** DREAMWORKS ANIMATION SKG INC, $22.3, -14.30 pct

** HASBRO INC, $56.49, +4.57 pct

Negotiations between toy and board game company Hasbro and the American animation studio DreamWorks Animation have been hampered by issues regarding the structure of the combined company, according to a person familiar with the matter.

** PARAGON OFFSHORE PLC, $5.08, +6.50 pct

The offshore drilling contractor said it had acquired 93.5 percent stake in Luxembourg-based jack-up drilling contractor Prospector Offshore Drilling SA.

** INOVIO PHARMACEUTICALS INC, $10.1699, -7.55 pct

The drug developer and Roche terminated a 2013 collaboration agreement to co-develop a prostate cancer drug. All of Roche's rights to the drug, including the right to license the product to other parties, would be returned to Inovio.

** EVERYWARE GLOBAL INC, $1.2999, +20.36 pct

The bakerware marketer's second-largest shareholder, Clinton Group Inc, asked greeting cards maker CSS Industries Inc to combine with EveryWare.

** EXTERRAN HOLDINGS INC, $36.46, +7.97 pct

The natural gas-compression and oilfield equipment services provider said it plans to separate international contract operations, international aftermarket services and global fabrication businesses into a standalone company.

** TYSON FOODS INC, $42.59, +4.75 pct

The largest U.S. meat processor reported a better-than-expected quarterly profit.

The company expects fed cattle supplies to be down about 4 percent in 2015, Chief Executive Donnie Smith said during a conference call with analysts on Monday.

** MGIC INVESTMENT CORP, $9.1, +2.48 pct

Susquehanna Financial Group raised its price target on the mortgage insurer's stock by $1 to $14, the highest on Wall Street, citing potential expansion of mortgage lending and continued credit recovery of legacy portfolios in 2015.

** DENBURY RESOURCES INC, $9.87, -11.88 pct

Credit Suisse cut its rating and price target on the oil and natural gas company's stock.

"We are downgrading DNR shares to 'neutral' from 'outperform' to reflect the realization that our investment thesis (mid-single-digit oil production growth and sustained dividend growth) appears no longer valid largely due to lower oil prices," the brokerage said. It cut its price target on the stock by $3 to $16.

Denbury said on Friday it planned to cut its 2015 capital spending by 50 percent.

** NOKIA OYJ, $7.69, -2.16 pct

Raymond James downgraded U.S.-listed shares of the Finnish network equipment maker to "underperform" from "market perform". Natixis cut its rating on the Helsiniki-listed stock of the company to "reduce" from "neutral". (Compiled by Ankit Ajmera in Bangalore; Editing by Maju Samuel)

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