December 16, 2013 / 2:53 PM / in 4 years

MARKET PULSE-USEC, Nupathe, LSI, Solta, Agenus, AerCap, Sprint

(For more market insights, including options activity, click on ; for the Day Ahead newsletter; for the Morning News Call newsletter, U.S. stock indexes rose on Monday as large deals boosted optimism after a steep decline last week, although investors remained heavily focused on an upcoming Federal Reserve policy meeting. The Dow Jones industrial average was up 1.03 percent at 15,918.37, the S&P 500 was up 0.86 percent at 1,790.53 and the Nasdaq Composite was up 0.92 percent at 4,037.86.

** USEC Inc, $4.65, -47.22 pct

The supplier of enriched uranium for commercial nuclear power plants, said it expects to file for bankruptcy protection as part of a deal with its bondholders.

** NUPATHE INC, $3.38, +46.96 pct

Endo Health Solutions Inc said it would buy NuPathe for about $105 million to gain access to migraine treatment Zecuity.

** LSI CORP, $10.97, +38.69 pct

** AVAGO TECHNOLOGIES LTD, $49.79, +9.07 pct

Avago, whose chips are used in Apple Inc’s products, will buy LSI for $6.6 billion in cash to enter the fast-growing storage chip market.

** SOLTA MEDICAL INC, $2.92, +39.71 pct

Valeant Pharmaceuticals International said it would acquire Solta Medical for about $236 million in cash, giving it access to products used in procedures such as skin rejuvenation, skin tightening and body contouring.

** AGENUS INC, $3.07, +25.82 pct

The biotechnology company said more than 90 percent of patients with a deadly form of brain cancer treated with its experimental cancer vaccine were alive, six months after undergoing surgery to remove the tumors.

** AERCAP HOLDINGS NV, $33.31, +33.61 pct


The U.S. insurer said it would sell its aircraft-leasing business to AerCap Holdings in a deal valued at about $5.4 billion, marking the insurer’s exit from its last non-core business.

** BIOLINERX, $3.16, +23.92 pct

The Israel-based drug developer said initial data from a mid-stage trial of its experimental blood cancer drug showed the medicine was safe and made cancer cells more vulnerable to chemotherapy. Eight patients have already been enrolled in the study, out of a total expected 50, at eight sites in the United States and Israel.

** ACELRX PHARMACEUTICALS INC, $9.526, +16.17 pct

The company said it has sold the European marketing rights for its experimental pain treatment, Zalviso, to German drugmaker Grunenthal GmbH for an upfront payment of $30 million. The deal will cover the European Union, certain other European countries and Australia.

AcelRx is also eligible to receive about $220 million in additional milestone payments and will retain all rights to the drug in the rest of the world, including the United States and Asia.


The company said its experimental antibiotic for treating abdominal infections was found as effective as a widely used antibiotic in a late-stage trial.

** SPRINT CORP, $8.62, +2.25 pct

** T-MOBILE US INC, $26.8, -3.04 pct

Sprint Corp is mulling a takeover of smaller rival T-Mobile US and could make a bid in the first half of 2014, according to a report in The Wall Street Journal.

** EXXON MOBIL CORP, $98.1, +2.93 pct

Goldman Sachs raised its rating on the world’s largest publicly traded oil company’s stock to “buy” from “neutral,” saying the company was nearing a turning point in terms of production growth and capital intensity.

The brokerage said the stock has the potential of rising 17 percent over its raised price target of $109. The previous target was $96.

** URBAN OUTFITTERS INC, $36.44, +1.84 pct

Goldman Sachs upgraded the teen apparel retailer’s stock to “buy” from “neutral,” according to

** HALCON RESOURCES CORP, $3.91, +3.17 pct

The oil and gas producer reduced its drilling and completions budget outlook for 2014 by 14 percent to about $950 million but reaffirmed its 2014 production outlook of 38,000 to 42,000 barrels of oil equivalent per day.


The solar panel maker said a consortium comprising its subsidiary Yingli Energy (China) Co Ltd, Sinohydro Corp Ltd and Hydrochina Corp won 233 megawatts of solar panel projects in Algeria. The construction will start in January and end in eight months, the company said.

** CIRRUS LOGIC, $19.13, -2.35 pct

Oppenheimer cut its rating on the chipmaker’s stock to “underperform” from “perform”, according to (Compiled by Neha Dimri in Bangalore; Edited by Don Sebastian)

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