4 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 were set to open little changed on Monday as investors paused ahead of a Federal Reserve policy meeting and key earnings reports later this week. Dow Jones industrial average e-mini futures were up 0.10 percent at 17,564, S&P 500 e-mini futures were up 0.04 percent at 2,066.75 and Nasdaq 100 e-mini futures were up 0.09 percent at 4,615.5.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, Friday close $116.16, -9.07 pct premarket
The Canadian drugmaker said it has asked U.S. securities regulators to investigate a short-seller's "completely untrue" allegation that the company used its ties with a specialty pharmacy to inflate revenue, and said it would conduct a review of its pharmacy network.
The U.S.-listed shares fell as much as 14 percent earlier.
TAKE A LOOK-Valeant's rough week in the markets
** CTRIP.COM INTERNATIONAL LTD, Friday close $74.34, +18.64 pct premarket
** QUNAR CAYMAN ISLANDS LTD, Friday close $39.52, +26.52 pct premarket
** BAIDU INC, Friday close $157.6, +7.71 pct premarket
Chinese online travel company Ctrip.com International announced a tie-up with rival Qunar Cayman Islands and its backer Baidu Inc through a share swap.
** PEP BOYS - MANNY, MOE & JACK, Friday close $12.15, +22.72 pct premarket
Japanese tire maker Bridgestone Corp said it would buy the auto parts retailer for $835 million in cash to expand its presence in the United States.
The $15-per-share deal represents a premium of 23.5 percent to Pep Boys' Friday closing price of $12.15.
** BIODELIVERY SCIENCES INTERNATIONAL INC, Friday close $5.28, +15.15 pct premarket
The company said the U.S. Food and Drug Administration had approved its opioid treatment for chronic pain. Endo International Plc licensed the worldwide manufacturing and marketing rights to the treatment, Belbuca, from BioDelivery in 2012.
** NORTHERN TIER ENERGY LP, Friday close $24.23, +8.09 pct premarket
** WESTERN REFINING INC, Friday close $42.26
Oil refiner Western Refining offered to buy the shares of Northern Tier Energy it did not already own in a deal that values the refiner at about $2.52 billion. Western Refining has offered $17.50 in cash and 0.2266 of its share for each Northern Tier unit.
** FEDEX CORP, Friday close $159.52, +0.24 pct premarket
The package delivery company said it expects to see a record number of shipments during this year's busy holiday season, driven by rising retail sales and a jump in ecommerce.
** XEROX CORP, Friday close $10.34, +1.06 pct premarket
The company, best known as a maker of printers and copiers, reported quarterly revenue below analysts' average estimate and said it would undertake a "comprehensive review of structural options".
** PIEDMONT NATURAL GAS CO, Friday close $42.22, +35.13 pct premarket
** DUKE ENERGY CORP, Friday close $73.74
Duke Energy, the largest U.S. power company by generation capacity, said it would buy natural gas distributor Piedmont Natural Gas Co for $4.9 billion in cash.
** NEWS CORP, Friday close $15, +1.47 pct premarket
Australian broadcaster Ten Network Holdings Ltd plans to raise A$154 million ($111 million) by selling shares to the company's Australian pay TV unit and other shareholders, after a licence writedown led to its third straight annual loss.
** ENTERGY CORP, Friday close $68.65, -0.09 pct premarket
The company said it shut unit 3 at its Waterford nuclear power plant in Louisiana for scheduled refueling and planned maintenance.
Reporting by Rosmi Shaji in Bengaluru; Editing by Sriraj Kalluvila