January 13, 2014 / 3:18 PM / 4 years ago

MARKET PULSE-Alnylam, Beam, NII Holdings, Rosetta Genomics, BlackBerry

(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stock indexes were little changed on Monday. The Dow Jones industrial average was unchanged at 16,437.5, the S&P 500 was down 0.01 percent at 1,842.18 and the Nasdaq Composite was up 0.04 percent at 4176.15.

** ALNYLAM PHARMACEUTICALS INC, $107.66, +62.60 pct

French drugmaker Sanofi will buy a 12 percent stake in Alnylam Pharmaceuticals for $700 million and deepen their partnership to develop drugs for rare genetic diseases.

** BEAM INC, $83.1, +24.09 pct

Suntory Holdings Ltd said it plans to buy Beam for $16 billion, including debt, making the Japanese company the world’s third-largest maker of distilled drinks. Beam’s brands include Jim Beam, Maker’s Mark, Sauza, Canadian Club and Courvoisier.


The Israeli company, which manufactures soda makers, estimated full-year revenue below analyst’s expectations, hurt by a challenging holiday season selling in the United States. The company said it expected 2013 revenue of about $562.0 million, compared with analysts’ estimates of $563.8 million.

** ENPRO INDUSTRIES INC, $74.064, +25.09 pct

The maker of sealing products will not have to set aside more money than it had expected to meet current and future claims related to a form of cancer caused by exposure to asbestos, according to a court ruling. A bankruptcy court in North Carolina said on Friday $125 million would be enough to meet the claims against the company.

KeyBanc Capital Markets on Monday raised the target price on the stock to $85 from $65.

** NII HOLDINGS, $2.692, +20.45 pct

The company, which provides telecom services under the Nextel brand in Latin America, said it would use Telefonica SA’s 3G wireless network to provide voice and data services. “This agreement will make this coverage seemingly all the greater to NIHD’s current (and future) 3G subscribers,” Wells Fargo analyst Jennifer Fritzsche wrote in a note.

** LULULEMON ATHLETICA INC, $49.25, -17.37 pct

The upscale yogawear retailer cut its forecast for the fourth quarter due to weak sales in January. The company expects net revenue to range between $513 million and $518 million for the quarter ending Feb. 2, down from $535 million to $540 million earlier.

** ROSETTA GENOMICS LTD, $4.1, +28.53 pct

The molecular diagnostics company said it signed a master service provider agreement with an undisclosed major global biopharmaceutical company to provide microRNA profiling and other services.

** PLY GEM HOLDINGS INC, $14.21, -16.36 pct

The maker of residential exterior products said late on Saturday that it expects fourth-quarter revenue of $330 million to $335 million, lower than analysts’ average expectation of $343.60 million.

J.P. Morgan Securities downgraded the company’s stock to “neutral” from “overweight” and cut its price target to $17 from $19. BB&T Capital Markets cut its price target to $20 from $23.

** JUNIPER NETWORKS INC, $25.5, +8.33 pct

Shareholder Elliott Management Corp urged the network equipment maker to buy back shares, streamline its product line and cut costs to boost shareholder value.

** PROSENSA HOLDING NV, $4.54, -19.07 pct

The Dutch biotech firm will now hold all rights to an experimental drug for Duchenne muscular dystrophy as GlaxoSmithKline has handed back the rights after the drug failed in a critical clinical trial. Hopes for the drug, drisapersen, slumped last September when it did not show a statistically significant improvement.

** GALENA BIOPHARMA, $7.2699, +14.49 pct

The company said it bought Mills Pharmaceuticals, accessing the privately owned company’s experimental drug for the treatment of a disease of the bone marrow. Galena said it expected to begin mid-stage studies of the drug for the treatment for essential thrombocythemia in mid-2014.

Roth Capital Partners raised its price target on Galena’s stock to $11 from $7, saying it expects “a 2017-launch” for the drug, which would represent the second revenue generating product after its pain drug Abstral.

** DENDREON CORP, $3.47, +16.05 pct

The biotechnology company forecast fourth-quarter revenue above analyst estimates, driven by strong growth in its oncology business. Dendreon expects quarterly revenue at about $74.8 million, while analysts were expecting $72.9 million according to Thomson Reuters I/B/E/S.

** THE WENDY‘S CO, $9.135, +8.23 pct

The second-largest U.S. hamburger chain estimated adjusted quarterly earnings above analysts’ expectations, as expenses fell due to franchising many company-owned outlets.

** TEKMIRA PHARMACEUTICALS CORP, $12.5983, +27.51 pctpremarket

The Canadian biopharmaceutical company said it struck a deal with Monsanto Co, allowing the world’s largest seed company to use its technology for agricultural applications. Tekmira said the potential value of the deal could reach up to $86.2 million and expects to receive a near-term payment of $16.5 million.

** TWITTER INC, $59.25, +3.95 pct

Goldman Sachs raised its price target on the microblogging website’s stock to $65 from $46, citing a “significant acceleration in the pace of Twitter’s product innovation” that could help convert website traffic into revenue.

** BLACKBERRY LTD, $8.3099, -5.14 pct

Analysts at Oppenheimer downgraded the struggling Canadian smartphone maker’s stock to “underperform” from “perform”, according to Theflyonthewall.com.

** QUALITY SYSTEMS INC, $19.55, -6.64 pct

Baird cut its price target on the stock to $24 from $28 after the healthcare IT company said it expects to report quarterly results below analysts’ estimates.

B Riley also cut its target price on the stock to $25.

** CHINA HYDROELECTRIC CORP, $3.35, +22.71 pct

The Chinese hydroelectric power company said it would be taken private in a $189.6 million deal. The $3.51 per American Depository Share offer from equity firm CPT Wyndham Holdings Ltd represents a 28 percent premium to China Hydroelectric’s Friday close.

** CELL THERAPEUTICS INC, $2.93, +10.15 pct

The company said it ended an agreement with Novartis that had given the Swiss company an option to buy developing rights to two of its cancer drugs. Cell Therapeutics’ Chief Executive James Bianco said the company now had the flexibility to manage the development of the drugs, Opaxio and Pixuvri.

** BON-TON STORES INC, $12.86, -17.03 pct

The department store operator said on Friday it could report a loss for the full year as extreme cold weather in parts of the United States led to a slowdown in sales in December.

** CITIGROUP INC, $54.38, -0.62 pct

** JPMORGAN CHASE & CO, $58.4, -0.15 pct

** WELLS FARGO & CO, $45.76, -0.39 pct

** BANK OF AMERICA CORP, $16.7, -0.42 pct

Global banking regulators agreed on Sunday to ease the way a new rule, meant to rein in risky balance sheets from 2018, is compiled to try to avoid crimping financing for the world’s economy.

** UBS AG, $20.74, +2.27 pct

UBS is not considering spinning off its investment bank, its chief executive Sergio Ermotti said on Monday, rebuffing speculation last week it may consider such a move to quieten demands for it to put aside more capital.

** GENERAL MOTORS CO, $40.49, +1.15 pct

The U.S. automaker’s chief financial officer said on Sunday that the company is close to reintroducing a common stock dividend, but declined to provide any details on timing. GM last paid a dividend on its common stock in May 2008.

** FOSTER WHEELER AG, $31.82, +1.14 pct

British engineering firm Amec said it had provisionally agreed to buy Foster Wheeler in a cash and share deal that values the Swiss-based engineer at 1.9 billion pounds ($3.13 billion).


The drug maker said its Chief Executive would leave and it would cut its workforce by about 45 percent, as it moves its focus away from drug discovery to completing the studies of its drugs in late-stage development.

** JINKOSOLAR HOLDING CO LTD, $35.72, +0.88 pct

The Chinese solar company said it would explore options for its solar power plant business, including a spinoff or a deal. JinkoSolar’s project business is expected to exceed 500 megawatt of installed capacity by the end of 2014.

** MERCK & CO INC, $52.27, +4.79 pct

The drug maker’s experimental blood clot-preventing drug vorapaxar should be approved based on “robustly positive” clinical trial results, according to a preliminary review of the data by the U.S. Food and Drug Administration.

** LEGG MASON INC, $44.32, +1.07 pct

Legg Mason estimated third-quarter earnings above analysts’ expectations as assets under management grew by about $30 billion from the same quarter the year before.



Discovery Communications and Scripps Networks abandoned talks for a merger last week, the Wall Street Journal reported, quoting people familiar with the matter. The discussions did not go beyond the early, exploratory stage and Discovery had not made a formal offer for Scripps, the newspaper reported.

** RED HAT INC, $59.04, +3.93 pct

Brokerage Morgan Stanley raised the stock of the world’s largest commercial distributor of the Linux operating system to “overweight” from “equal weight”, according to Theflyonthewall.com.

** MEN‘S WEARHOUSE INC, $51.1, +0.04 pct

** JOS. A. BANK CLOTHIERS INC, $55.95, -0.11 pct

Men’s Wearhouse’s largest shareholder, Eminence Capital LLC, plans to support the retailer’s $1.61 billion offer for rival Jos. A. Bank, the Wall Street Journal reported, quoting people familiar with the matter.

** TARGET CORP, $62.09, -0.85 pct

The retailer plans to make “significant changes” in light of the data breach over the holiday shopping season when hackers stole personal information of millions of customers, the U.S. retailer’s chief executive said in an interview to CNBC.

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