December 8, 2015 / 1:36 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Qualcomm, Outerwall, Fairchild Semiconductor

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U.S. stock index e-mini futures fell on Tuesday as oil prices steadied but remained close to a 7-year low and weak economic data out of China reignited fear of a slowdown in the global economy: Dow Jones industrial average futures were down 0.99 percent at 17,580, S&P 500 futures were down 1.02 percent at 2,059.75 and Nasdaq 100 futures were down 1.07 percent at 4,650.5.

** NORFOLK SOUTHERN CORP, Monday close $91.52, -2.75 pct premarket

Canadian Pacific Railway Ltd revised its offer to buy U.S. railroad operator Norfolk, less than a week after its previous $28.4 billion proposal was rejected - and it was promptly rejected again.

** FAIRCHILD SEMICONDUCTOR INTERNATIONAL INC, Monday close $19.53, +8.76 pct premarket

The chipmaker said it received an unsolicited proposal to buy the company for about $2.46 billion. The offer is at a 11.1 percent premium to Fairchild’s Monday close.

** QUALCOMM INC, Monday close $52.43, -3.11 pct premarket

EU antitrust regulators accuse the chipmaker of using its power to thwart rivals, putting the company at risk of paying a hefty fine. Qualcomm also said Taiwan’s Fair Trade Commission had launched an investigation into whether its patent licensing arrangements violate the Taiwan Fair Trade Act.

** CHIPOTLE MEXICAN GRILL, Monday close $551.75, -5.27 pct premarket

Thirty Boston College students got sick after eating at the Chipotle Mexican Grill over the weekend, a school spokesman said, worsening fears of more food poisoning problems at the burrito chain. Chipotle said it had temporarily closed its restaurant in Boston’s Cleveland Circle, where a college spokesman said all the students reported eating, while it works with local health officials to investigate the illnesses.

** OUTERWALL INC, Monday close $58.06, -21.81 pct premarket

JP Morgan Securities, Roth Capital Partners and Wedbush Securities cut their price targets on the Redbox DVD rental kiosks owner’s stock after the company cut its full-year forecast to below analysts’ expectation on Monday.

** STAPLES INC, Monday close $10.66, -1.97 pct premarket

** OFFICE DEPOT INC, Monday close $5.59, -2.68 pct premarket

The U.S. Federal Trade Commission said it had filed a complaint aimed at stopping Staples, the nation’s largest office supply store, from buying its top rival, Office Depot. Canada’s Competition Bureau also said on Monday it would challenge the proposed transaction, which has received the green light from competition authorities in China, Australia and New Zealand.

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, Monday close $92.24, -2.43 pct premarket

The Canadian drugmaker is reaching out to potential buyers for its specialty contact lens manufacturing division, Paragon Vision Sciences, amid scrutiny from the Federal Trade Commission, according to two people familiar with the matter.

** TONIX PHARMACEUTICALS HOLDING CORP, Monday close $6.95, +0.43 pct premarket

The drug developer said it was teaming up with the U.S. Department of Defense to further develop its experimental PTSD drug, which if approved, could be the first treatment for the psychiatric disorder in more than 15 years.

** VERIZON COMMUNICATIONS INC, Monday close $46.06, +0.00 pct premarket

** YAHOO INC, Monday close $34.68, -0.92 pct premarket

Verizon Communications Chief Financial Officer Fran Shammo, said the No. 1 U.S. wireless carrier could look at buying Yahoo’s core business, which includes Mail, its news and sports sites and advertising technology, if it is a good fit.

** PEP BOYS-MANNY, MOE & JACK, Monday close $16.06, -0.37 pct premarket

Carl Icahn offered to buy the U.S. auto parts retailer in a deal valuing the company at about $837 million, trumping Japanese tire maker Bridgestone Corp’s offer of $810 million. Icahn Enterprises offered $15.50 per Pep Boys share in cash, a 1.2 percent discount to Friday’s close, but higher than Bridgestone’s offer of $15 per share, also in cash.

** NEWELL RUBBERMAID INC, Monday close $48.16, +0.19 pct premarket

** JARDEN CORP, Monday close $50.09, +1.82 pct premarket

Newell Rubbermaid, known for its Sharpie markers and Parker pens, is in talks to combine with consumer products company Jarden Corp, according to a person familiar with the matter who requested anonymity because the negotiations are confidential. (Compiled by Sruthi Shankar in Bengaluru; Editing by Kirti Pandey)

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