BUZZ-U.S. STOCKS ON THE MOVE-Brainstorm, Harley-Davidson, Mylan
(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. stock index futures rose on Tuesday after earnings results by companies including IBM helped ease fears of a disappointing earnings quarter: Dow Jones industrial average futures were up 0.38 percent at 18,011, S&P 500 futures were up 0.41 percent at 2,099.5 and Nasdaq 100 futures were up 0.44 percent at 4,427.
** MYLAN NV, Monday close $68.045, +7.28 pct premarket
** PERRIGO CO PLC, Monday close $198.08, -2.90 pct premarket
** TEVA PHARMACEUTICAL INDUSTRIES, Monday close $63.29, +2.72 pct premarket
Israel's Teva could make a public, unsolicited offer for rival Mylan as soon as Tuesday, Bloomberg reported, citing people with knowledge of the matter. (bloom.bg/1QdnUlB) Mylan offered to buy Perrigo for about $29 billion earlier this month. Many see this as a trigger for Teva to act before Mylan becomes an even larger target, Bloomberg reported.
** BRISTOL-MYERS SQUIBB CO, Monday close $65.86, +2.16 pct premarket
Morgan Stanley analysts upgraded the drugmaker's stock to "overweight" from "equal-weight" and raised its price target to $80 from $60. The company's lung cancer drug, Opdivo, proved effective against a second type of lung cancer on Friday. Continued...