October 19, 2015 / 12:01 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-PMC-Sierra, Valeant

3 Min Read

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U.S. stock index futures were slightly down on Monday after data showed that China's economic growth slipped below 7 percent for the first time since the global financial crisis. Dow Jones industrial average futures were down 0.26 percent at 17,070, S&P 500 futures were down 0.27 percent at 2,020 and Nasdaq 100 futures were down 0.24 percent at 4,424.

** MICROSEMI CORP, Friday close $37.36

** PMC-SIERRA INC, Friday close $10.24, +12.50 pct premarket

Chipmaker Microsemi said it had offered to buy chipmaker PMC-Sierra in a deal valued at about $2.4 billion.

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, Friday close $177.56, -3.77 pct premarket

The Canadian drugmaker which is under fire for massive price hikes of its two heart drugs, reported a better-than-expected quarterly profit, boosted mainly by strong performance in its U.S. dermatology business.

** BP PLC, Friday close $35.86, -1.03 pct premarket

The company and China's CNPC will next week unveil a strategic alliance to develop oil resources in Iraq and other regions, industry sources said on Friday, as Britain and China seek to tighten economic ties.

** CAMPUS CREST COMMUNITIES INC, Friday close $5.68

The student housing real estate investment trust said it agreed to be bought by privately held Harrison Street Real Estate Capital LLC for $1.9 billion, including debt.

** SCHLUMBERGER LTD, Friday close $74.51, -0.01 pct premarket

The world's No.1 oilfield services provider said it would cut more jobs and consolidate its manufacturing and distribution network as it did not expect a recovery in demand before 2017.

** JPMORGAN CHASE & CO, Friday close $62.43, -0.80 pct premarket

JPMorgan Chase, Morgan Stanley, and Barclays Plc will pay over half of a more than $1.86 billion settlement resolving investor claims they conspired to fix prices and limit competition in the market for credit default swaps, according to a court filing.

** HASBRO INC, Friday close $77.78, -0.04 pct premarket

The toymaker reported a 15 percent rise in quarterly profit as toys based on "Star Wars" and "Jurassic World" movie series boosted sales of its toys targeted at boys. (Compiled by Manish Parashar in Bengaluru; Editing by Maju Samuel)

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