December 8, 2014 / 12:57 PM / 3 years ago

BUZZ-U.S. Stocks on the Move-Bristol-Meyers, Cubist Pharma, CBS

Dec 8 - (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. stock index futures dipped on Monday, indicating the S&P 500 may retreat from a record high, as soft data in China and Japan stoked global growth concerns. Dow Jones industrial average futures were down 0.27 percent at 17,904, S&P 500 futures were down 0.30 percent at 2,069.75 and Nasdaq 100 futures were down 0.30 percent at 4,300.25.

** BRISTOL-MYERS SQUIBB CO, Friday close $60.65, +0.97 pct premarket

Eighty-seven percent of Hodgkin lymphoma patients responded to a Bristol-Myers Squibb drug that helps the immune system fight the blood cancer, according to data from a small, early stage trial released on Saturday.

** MERCK & CO INC, Friday close $61.49, -0.05 pct premarket

** CUBIST PHARMACEUTICALS INC, Friday close $74.36, +35.97 pct premarket

Merck said on Monday it would buy Cubist Pharmaceuticals in a deal valued at $9.5 billion, giving the major drugmaker an entry into the market for drugs that target so-called superbugs.

** PRECISION DRILLING CORP ; Friday close $5.98

Canada’s largest drilling contractor said it expected 2015 capital spending to be 44 percent lower than this year’s already lowered budget as a steep fall in oil prices threaten to render exploration and development project uneconomic.

** HANWHA SOLARONE CO LTD, Friday close $1.62

The solar power company said it would merge two of its solar units, creating a combined company with an enterprise value of about $2 billion. The company said its unit, Hanwha SolarOne Co Ltd, will buy another unit, Q Cells Investment Co Ltd, in an all-stock transaction valued at about $1.2 billion.

** CBS CORP, Friday close $55.09

** DISH NETWORK CORP, Friday close $73.2

U.S. broadcasting companies CBS Corp and Dish Network Corp reached a multi-year deal on Saturday, with CBS agreeing to continue to deliver its programs to Dish’s 14 million subscribers.

** WELLS FARGO & CO, Friday close $55.03, -0.42 pct premarket

The largest U.S. mortgage lender is set to go to trial on Monday as homeowners seek to recoup about $629 million for alleged overcharges by a company once owned by Wachovia Corp.

** INFOSYS LTD, Friday close $67.33

Some of the founders of Infosys Ltd sold shares worth $1.1 billion in India’s second-largest IT services exporter on Monday, cashing in on a more than 20 percent gain in the stock since the company picked its first outsider as chief executive.

The shares were sold by N.R. Narayana Murthy, Nandan Nilekani, S.D. Shibulal and K. Dinesh, members a group of seven engineers who founded Infosys in 1981 by pooling together $250, stock market filings showed.

** CANADIAN SOLAR INC, Friday close $24.925

Japan’s Sharp Corp said on Monday it was considering selling its U.S.-based solar energy development unit Recurrent Energy to solar panel maker Canadian Solar, but had yet to make a final decision on any deal.

** RIO TINTO PLC, Friday close $45.29, +0.11 pct premarket

Rio Tinto declined to comment on Monday on whether it would be willing to settle a lawsuit it brought against Brazil’s Vale SA over valuable iron ore concessions in Guinea.

** AMGEN INC, Friday close $169.24, -0.24 pct premarket

Novartis said its copycat version of Amgen’s Neupogen for patients with low white blood cell counts works as well as the original drug in a late-stage trial.

Separately, the top U.S. patent appeals court has upheld the dismissal of a lawsuit brought by Sandoz Inc that sought to shield its planned version of Amgen’s psoriasis and arthritis drug Enbrel from patent lawsuits.

** BLACKBERRY LTD, Friday close $10.68, +1.59 pct premarket

The Canadian smartphone maker and NantHealth, a healthcare-focused data provider, launched a secure cancer genome browser on Sunday, giving doctors the ability to access patients’ genetic data on the BlackBerry Passport smartphone. (Compiled by Sneha Banerjee in Bengaluru; Editing by Simon Jennings)

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