BUZZ-U.S. STOCKS ON THE MOVE-Aurinia Pharma, Post Properties, Twitter

Mon Aug 15, 2016 10:03am EDT
 
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(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)

The Dow Jones Industrial Average was up 0.40 percent at 18,651.29, the S&P 500 was up 0.29 percent at 2,190.49 and the Nasdaq Composite was up 0.44 percent at 5,256.028.

** MID-AMERICA APARTMENT COMMUNITIES INC, $96.99, -5.05 pct

** POST PROPERTIES INC, $67.75, +8.89 pct

Mid-America Apartment said it would buy Post Properties for about $3.88 billion to create the largest publicly traded multifamily apartment real estate investment trust by units.

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $26.33, +5.66 pct

Mizuho Securities raised its rating on the Canadian drugmaker's stock to "neutral" from "underperform", saying that "because Valeant can relax its interest coverage covenants, we just don't think it will matter as much if the company misses its guidance in future quarters." Valeant is offering to pay lenders higher interest rates to obtain an amendment to its debt agreement that would loosen one of its covenants, Reuters reported on Tuesday.   Continued...