BUZZ-U.S. STOCKS ON THE MOVE-Tribune, Perrigo, Xerox, Depomed
(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 opened lower on Monday as corporate earnings continued to underwhelm and investors stayed away from risky assets a day before the start of the Federal Reserve's two-day policy meeting. The Dow Jones industrial average was down 0.48 percent at 17,916.43, the S&P 500 was down 0.38 percent at 2,083.56 and the Nasdaq Composite was down 0.21 percent at 4,895.916.
** TRIBUNE PUBLISHING CO, $11.76, +56.38 pct
** GANNETT CO, $15.95, +1.14 pct
The Company is to be bought by Gannett, the publisher of USA Today, for $815 million, including the assumption of debt.
** PERRIGO CO PLC, $109.52, -9.75 pct
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $37.3, +3.67 pct
Perrigo lowers full year 2016 adjused profit forecast to $8.20-$8.60, from $9.50-$9.80. Valeant Pharmaceuticals International Inc names Perrigo's CEO, Papa, as its new CEO; Papa expected to join the company by early May. Perrigo also says it has identified indicators of impairment related to its Branded Consumer Healthcare business.
** XEROX CORP, $9.95, -10.92 pct Continued...