BUZZ-U.S. STOCKS ON THE MOVE-Quintiles, GrubHub, Encana, On Deck
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Wall Street opened lower on Tuesday as weak Chinese economic data and a surprise rate cut by the Australian central bank fanned worries about the health of the global economy. The Dow Jones industrial average was down 1.09 percent at 17,695.52, the S&P 500 was down 1.16 percent at 2,057.29 and the Nasdaq Composite was down 1.32 percent at 4,753.845.
** QUINTILES TRANSNATIONAL HOLDINGS INC, $63.19, -8.55 pct
** IMS HEALTH HOLDINGS INC, $24.77, -7.82 pct
Contract medical research provider Quintiles and healthcare information company IMS Health said they would merge in a deal valued at $9 billion.
** GRUBHUB INC, $24.3, -8.44 pct
The online food order and delivery company reported a better-than-expected 27 percent rise in quarterly revenue as more diners used its services to order meals online.