BUZZ-U.S. STOCKS ON THE MOVE-Allergan, Marvell, Valeant
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Wall Street was lower on Tuesday, led by a slide in financial stocks, as the outlook for interest rates remained cloudy and oil hovered near one-month lows. The Dow Jones industrial average was down 0.33 percent at 17,678.28, the S&P 500 was down 0.65 percent at 2,052.73 and the Nasdaq Composite was down 0.43 percent at 4,870.58.
** ALLERGAN PLC, $232.41, -16.26 pct
** PFIZER INC, $30.785, +0.21 pct
The U.S. Treasury Department took new steps to curb tax-avoiding corporate "inversions," with the pending $160 billion merger of Pfizer and Allergan seen as a potential casualty.
** MARVELL TECHNOLOGY GROUP LTD, $10.665, +10.86 pct
The chipmaker's chief executive and president are stepping down, two months after activist investor Starboard Value LP disclosed a stake in the chipmaker and said its shares were undervalued. Continued...