December 16, 2013 / 6:38 PM / 4 years ago

MARKET PULSE-USEC, LSI, Solta, Agenus, AerCap, Violin Memory

(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 0.83 percent at 15,886.11, the S&P 500 was up 0.62 percent at 1,786.4 and the Nasdaq Composite was up 0.68 percent at 4,028.088.

** USEC Inc, $3.77, -57.21 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, $3.24, +40.87 pct

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

** LSI CORP, $10.965, +38.62 pct

** AVAGO TECHNOLOGIES LTD, $50.11, +9.77 pct

The mobile chipmaker said it would buy LSI for $6.6 billion as it turns to the fast-growing storage chip market to counter volatility in its main wireless business.

** VIOLIN MEMORY INC, $3.31, +23.05 pct

The flash storage provider board fired its CEO in the wake of a sour IPO and deeper-than-expected quarterly losses, sending its shares sharply higher.

** SOLTA MEDICAL INC, $2.93, +40.19 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, $2.9, +18.85 pct

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

** AERCAP HOLDINGS NV, $32.57, +30.65 pct


AIG said it would sell its aircraft-leasing business to AerCap Holdings in a deal valued at about $5.4 billion excluding debt, ending a four-year effort to sell its biggest non-insurance business.

** APPLE INC, $559.936, +0.99 pct

Jefferies & Co raised its target price on the iPhone maker’s stock, saying Apple’s first-quarter build plans have ticked up due to a deal with China Mobile Ltd expected this week. A deal would give Apple 759 million new customers, generating $3 billion in 2014 revenue, or nearly one-quarter of Apple’s projected revenue growth in its current fiscal year.

** BIOLINERX, $2.86, +12.16 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, $9.62, +17.32 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.

** HIMAX TECHNOLOGIES, $12.0115, +9.59 pct

Brokerage Northland Capital raised its price target on the Taiwanese chipmaker's stock, citing momentum in the company's small and medium display business as well as new customers in November, according to a report by (

** PRIMERO MINING CORP, $4.57, -6.92 pct

** BRIGUS GOLD CORP, $0.79, +32 pct

Canadian gold and silver producer Primero said it would acquire smaller rival Brigus for about C$220 million, which is about C$74.55 million more than the company’s market value as of Friday.

** YOUKU TUDUO INC, $28.93, -6.31 pct

The Chinese internet television company has signed a deal with communications equipment company Shenzhen Coship Electronics Co Ltd to develop Over-The-Top (OTT) TV and Internet applications.

OTT is a service that provides a product over the Internet and bypasses traditional distribution.

** ANWORTH MORTGAGE ASSET CORP, $4.14, -2.36 pct

The mortgage real estate investment trust on Friday declared a 33 percent reduction in its quarterly dividend. Anworth said it would pay a dividend of 8 cents per share for the current quarter, compared with the 12 cents it paid last quarter.

** ADVANCED MICRO DEVICES INC, $3.55, -3.79 pct

Brokerage Oppenheimer lowered its rating on the chipmaker’s stock to “underperform” from “perform,” according to

** YRC WORLDWIDE, $13.489, +8.00 pct

Solus Alternative Asset Management increased its stake in the trucking company to 14.56 percent, regulatory filings late on Friday showed. Solus had a 9.57 percent stake earlier. (


The company said it had been selected by the U.S. Navy to supply certain ships with 17,000 LED tube lamps.

** CUBIST PHARMACEUTICALS INC, $67.015, +6.75 pct

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, $8.38, -0.59 pct

** T-MOBILE US INC, $26.48, -4.20 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, $97.73, +2.54 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, $36.29, +1.43 pct

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

** HALCON RESOURCES CORP, $3.76, -0.79 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, $19.27, -1.63 pct

Oppenheimer cut its rating on the chipmaker’s stock to “underperform” from “perform”, according to

** CBEYOND INC, $6.74, +1.66 pct

Brokerage D.A. Davidon and Co raised its rating on the communications services provider’s stock to “buy” from “neutral,” saying the company could be bought by a rival, saving up to $80 million in operating expenses and shared offices.


Goldman Sachs raised its rating on the stock of the hardwood flooring retailer to “buy” from “neutral”, according to

** ALCOBRA LTD, $17.88, +4.32 pct

The company said its experimental drug for treating cognitive dysfunctions significantly improved patients’ attention levels, as compared to a placebo. A mid-stage trial tested Alcobra’s drug, MG01CI, in 36 adult patients with predominantly inattentive attention deficit hyperactivity disorder (PI-ADHD).


Robert W. Baird & Co cut its rating on the struggling truckmaker to “neutral” from “outperform,” saying the stock price has doubled over the past year and North American truck markets were weak.

** ECOPETROL SA, $40.19, -5.92 pct

Citigroup cut its rating on Colombia’s state-run oil company to sell from neutral, according to The company on Friday said it would invest $10.6 billion in 2014, an 11 percent increase in investment over 2013, and that two-thirds of the budget would be spent on exploration and production next year. (Compiled by Neha Dimri in Bangalore; Edited by Don Sebastian)

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