BUZZ-U.S. STOCKS ON THE MOVE-Vanda Pharma, Chesapeake, China Finance
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U.S. stock index e-mini futures were up on Tuesday: Dow Jones industrial average futures were up 0.16 percent at 17,925, S&P 500 futures were up 0.11 percent at 2,074.75 and Nasdaq 100 futures were up 0.16 percent at 4,298.5.
** VANDA PHARMACEUTICALS INC, Monday close $11.91, +17.55 pct premarket
The drugmaker settled a license dispute with Novartis AG over its schizophrenia drug, Fanapt. Vanda will regain U.S. and Canada rights to Fanapt and get exclusive worldwide license for similar drug, AQW051, from Novartis. Under the settlement, Novartis will buy Vanda shares worth $25 million at $13.82 per share.
** CHESAPEAKE ENERGY CORP, Monday close $18.42, +5.48 pct premarket
The oil and gas company authorized a $1 billion stock buyback program and also closed sale of some of its oil and gas assets in Marcellus and Utica shale fields to Southwestern Energy Co for $4.97 billion.