May 3, 2016 / 1:07 PM / a year ago

BUZZ-U.S. STOCKS ON THE MOVE-Quintiles, UBS, AIG, On Deck

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U.S. stock index futures were sharply lower on Tuesday after weak Chinese economic data raised concerns about the health of the global economy: Dow Jones industrial average futures were down 0.66 percent at 17,682, S&P 500 futures were down 0.69 percent at 2,060 and Nasdaq 100 futures were down 0.69 percent at 4,339.

** QUINTILES TRANSNATIONAL HOLDINGS INC, Monday close $69.1, -6.08 pct premarket

** HEALTH HOLDINGS INC, Monday close $26.87, -3.28 pct premarket

Contract medical research provider Quintiles and healthcare information company IMS said they would merge in a deal valued at $9 billion.

** MYLAN NV, Monday close $42.71, +3.37 pct premarket

Drugmaker Mylan posted a 17 percent rise in quarterly revenue, helped by higher generic drug sales, and stood by its full-year revenue and adjusted profit forecast.

** AMERICAN INTERNATIONAL GROUP INC, Monday close $56.59, -2.42 pct premarket

The biggest U.S. commercial insurer by premiums reported a lower-than-expected quarterly operating profit as income from underwriting and returns on investments declined.

** UBS Group AG , Monday close $17.23, -6.27 pct premarket

The Swiss bank plans job cuts to help save hundreds of millions of dollars in its wealth management business, after its first-quarter net profit fell by nearly two-thirds due to wary clients investing less.

** ON DECK CAPITAL INC, Monday close $8.3, -36.75 pct premarket

The online lender forecast 2016 revenue below average analysts’ estimates and said it expects to sell fewer loans through its OnDeck Marketplace platform, over short term, resulting in lower sales, higher expense provision and lower adjusted EBITDA than planned.

** FABRINET, Monday close $32.29, +12.26 pct premarket

The laser product maker reported better-than-expected third-quarter profit and revenue, helped by higher demand for its optical packaging and precision optical products.

** YELP INC, Monday close $21.51, +4.97 pct premarket

Hedge fund manager David Einhorn on Monday told investors he had made new investments in business review website Yelp.

** ENCANA CORP , Monday close $7.43, -2.42 pct premarket

The Canadian oil and gas producer posted a bigger-than-expected quarterly loss due to lower production amid a steep fall in oil prices.

** PFIZER INC, Monday close $32.8, +2.59 pct premarket

U.S. drugmaker Pfizer reported first-quarter revenue that blew past analysts’ average estimate, boosted by sales of its new treatments for cancer and its Hospira acquisition.

** VALERO ENERGY CORP, Monday close $59.82, -2.32 pct premarket

The U.S. refiner reported a 49 percent fall in profit, hurt by weak margins and higher inventories.

** ESTEE LAUDER COS INC, Monday close $97.13, -2.71 pct premarket

The cosmetics maker reported a better-than-expected quarterly profit, helped by strong demand for M.A.C. and Smashbox makeup brands in its international markets.

** BIOGEN INC, Monday close $273.69, -0.24 pct premarket

The drugmaker said it would spin off its hemophilia drug business as a publicly traded company in a tax-free transaction, leaving it to focus on developing drugs for neurodegenerative diseases.

** SPRINT CORP, Monday close $3.49, +3.15 pct premarket

The No.4 U.S. wireless carrier forecast a jump in full-year operating income as it continues to slash costs to offset the heavy discounts it had offered to attract customers.

** ANADARKO PETROLEUM CORP, Monday close $51.95, -3.77 pct premarket

The oil and gas producer posted a smaller-than-expected first-quarter loss as it successfully slashed costs to offset the plunge in crude oil prices.

** CVS HEALTH CORP, Monday close $101.45, +1.28 pct premarket

The No. 2 U.S. drugstore chain by store count reported better-than-expected quarterly revenue and profit, helped by strong demand for its pharmacy benefit management (PBM) services.

** COTY INC, Monday close $31.06, -3.41 pct premarket

The perfume maker reported its first profit miss in seven quarters, hurt by higher costs and weak demand for products such as Sally Hansen nail polishes in the United States.

** ARCHER DANIELS MIDLAND CO, Monday close $40.26, -3.63 pct premarket

The U.S. agribusiness company reported a 53.3 percent decline in quarterly profit, weighed down by slumping energy prices and lower U.S. grain exports.

** EXXON MOBIL CORP, Monday close $89.13, -0.93 pct premarket

** CHEVRON CORP, Monday close $103.31, -0.78 pct premarket

Norway’s $872 billion sovereign wealth fund, the world’s largest, will back shareholder proposals aimed at changing corporate governance and climate policies at U.S. oil majors Exxon Mobil and Chevron, it said on Tuesday.

** ENERGY TRANSFER EQUITY LP, Monday close $12.12, -0.99 pct premarket

** WILLIAMS COMPANIES INC, Monday close $18.81, +0.27 pct premarket

Energy Transfer and Williams Cos amended the terms of their $20 billion-deal agreement on Tuesday to reduce the number of days specified for completing some administrative requirements. (Compiled by Ankit Ajmera in Bengaluru; Editing by Anil D‘Silva)

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