(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. stocks edged lower on Monday, falling from record levels as a weaker-than-expected read on manufacturing gave traders an excuse to sell. The losses were slight but broad. The Dow Jones industrial average fell 20.19 points, or 0.12 percent, to 16,696.98, the S&P 500 lost 5.17 points, or 0.27 percent, to 1,918.4 and the Nasdaq Composite dropped 24.38 points, or 0.57 percent, to 4,218.24.
** ALLERGAN INC, $170.71, +1.94 pct
** VALEANT PHARMACEUTICALS INC , $132.12, +0.69 pct
Valeant Pharmaceuticals Inc on Monday prepared to take its $53.8 billion takeover bid for Allergan directly to the Botox maker’s shareholders, and ally Pershing Square called for a meeting to turn over the target company’s board.
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** AMERICAN REALTY CAPITAL HEALTHCARE TRUST INC, $10.8, +8.54 pct
** VENTAS INC, $64.56, -3.35 pct
Ventas, one of the largest U.S. healthcare real estate investment trusts, said it would buy American Realty Capital Healthcare Trust in a cash-and-stock deal valued at about $2.6 billion.
** CLOVIS ONCOLOGY, <CLVS.O;$LAST}, -10.78 pct
The company reported positive data from an early stage study testing its experimental lung cancer drug on Friday, but said 22 percent of patients experienced high-blood sugar severe enough to warrant treatment.
The drug - similar to AstraZeneca Plc’s AZD9291 - is designed to target non-small cell lung cancer containing a genetic mutation.
** BROADCOM CORP, $34.91, +9.54 pct
The chipmaker said it was looking to sell or wind down its cost-intensive cellular baseband business that is hurting its operating income due to high research and development costs.
** MASTEC INC, $32, -11.11 pct
The infrastructure construction company said on Sunday that it now estimates second-quarter revenue of about $1.1 billion, below its previous forecast of $1.15 billion to $1.2 billion. The company cited lower than previously expected revenue from wireless projects and the oil and gas segment for the revision.
Stifel Nicolaus cut its price target on the stock to $45 from $49 on Monday.
** GOOGLE INC, $561.54, -1.77 pct
Google services are being disrupted in China ahead of this week’s 25th anniversary of the 1989 crackdown on pro-democracy demonstrators around Beijing’s Tiananmen Square, a censorship watchdog said on Monday.
** NPS PHARMACEUTICALS INC, $35.2, +13.07 pct
London-listed drugmaker Shire Plc has secured a $5 billion credit facility for a takeover offer for New-Jersey-based NPS Pharmaceuticals, The Times of London reported on Sunday. Insiders told The Times that an initial approach to NPS by Shire has been rebuffed.
** WALTER ENERGY INC, $4.73, -3.07 pct
** ARCH COAL INC, $3.507, -1.49 pct
** ALPHA NATURAL RESOURCES INC, $3.35, -0.89 pct
** PEABODY ENERGY CORP, $16.11, -0.31 pct
The United States on Monday formally announced a plan to slash carbon emissions from the power sector by 30 percent nationwide below 2005 levels by 2030, a key element of President Barack Obama’s plan to tackle global warming.
** OMEROS CORP , $11.48, -1.80 pct
The biopharmaceutical company said the U.S. Food and Drug Administration had approved its drug for use in cataract and lens replacement surgeries, making it the company’s first drug to be approved by the regulator.
** EVERYWARE GLOBAL INC, $1.64, +49.09 pct
The company, which sells dinnerware and kitchen gadgets, said on Saturday that its asset-backed loan lenders agreed not to exercise their rights and remedies till June 30 following a default on certain covenants.
Everyware said it also intends to partially reopen its Monaca, Pennsylvania facility.
** PROTECTIVE LIFE CORP, $58.32, +11.51 pct
Japanese insurer Dai-ichi Life Co is in advanced talks to buy U.S. peer Protective Life in a deal that could be worth over $5 billion, extending a drive to buy assets abroad as an antidote to a weak domestic outlook.
** EXPRESS INC, $12.3, -2.46 pct
** AEROPOSTALE INC, $3.72, -4.86 pct
Nomura Equity Research cut its price targets on the apparel retailers’ stocks. The brokerage cut its price target on Express’s shares to $16 from $20, and on Aeropostale’s stock to $5 from $6.
** ADVANTAGE OIL AND GAS LTD , $6.21, +3.33 pct
Analysts at RBC Capital Markets upgraded the oil and gas explorer to “outperform” from “sector perform”, citing improved operations and better capital efficiency.
** MEADWESTVACO CORP, $42.38, +4.44 pct
Activist investor Starboard Value LP reported a 5.6 percent stake in MeadWestvaco and said the packaging materials maker’s stock was “deeply undervalued”.
** RICE ENERGY INC, $32.17, +1.39 pct
** ANTERO RESOURCES CORP, $61.99, +0.80 pct
** CHESAPEAKE ENERGY CORP, $29.385, +2.32 pct
** GULFPORT ENERGY CORP, $62, +0.76 pct
** RANGE RESOURCES CORP, $92.98, +0.03 pct
** STONE ENERGY CORP, $43.94, -1.01 pct
Natural gas producer Rice Energy, which went public earlier this year, said it had successfully tested its first Utica Shale well in Ohio.
The well, the Bigfoot 9H, had a stabilized production rate of 41.69 million cubic feet per day (mmcf/d) of gas, the company said. The market estimate was at about 30 mmcf/d, analysts at Tudor, Pickering, Holt & Co said in a note.
The high production rate was a positive for other exploration and production companies with exposure to the dry gas window of the Utica, analysts said.
** CONN’S INC, $49.69, +6.54 pct
The electronics and home appliance retailer reported a better-than-expected profit for the first quarter as furniture and mattress sales jumped about 65 percent.
** JOHNSON & JOHNSON, $101.82, +0.35 pct
** PHARMACYCLICS INC, $90.4, +1.77 pct
A new drug for the most common form of leukemia in adults improves survival for patients whose disease has worsened despite standard treatment, according to late-stage study findings released on Saturday. Ibrutinib, sold by Pharmacyclics and Johnson & Johnson under the brand name Imbruvica, was approved by U.S. regulators for treatment of chronic lymphocytic leukemia in February.
** ARIAD PHARMACEUTICALS INC, $6.95, +7.59 pct
The company said longer-term data from two studies of its leukemia drug, Iclusig, showed that the drug continues to be effective in patients who have already received treatment.
Iclusig was allowed a restricted return to the U.S. market in December, after sales were suspended due to safety concerns.
** BRISTOL-MYERS SQUIBB CO, $48.66, -2.17 pct
U.S. researchers are finalizing plans to test two immunotherapy drugs made by Bristol-Myers Squibb Co BMY.N on patients newly diagnosed with the most common form of deadly brain tumors in adults.
** B/E AEROSPACE INC, $95.95, -0.83 pct
The maker of aircraft interior products, said it would buy aircraft lighting systems maker EMTEQ Inc and helicopter seat manufacturer F+E Fischer + Entwicklungen GmbH & Co KG for a total of about $470 million.
** ELI LILLY AND CO, $59.24, -1.04 pct
Eli Lilly’s cancer drug ramucirumab modestly extended survival in a large, late-stage study of patients with advanced, nonsmall cell lung cancer who had relapsed following initial treatment, according to data presented on Saturday.
** AMTRUST FINANCIAL SERVICES INC, $40.92, -4.17 pct
An article on Barron's weekly said the property and casualty insurer could be under-reserved due to certain accounting disparities. (r.reuters.com/kaq79v)
** KINROSS GOLD CORP, $3.76, -0.53 pct
** ANGLOGOLD ASHANTI LTD, $15.77, -0.13 pct
** GOLDCORP INC, $22.88, -2.10 pct
** IAMGOLD CORP, $3.04, -0.33 pct
** ELDORADO GOLD, $5.76, +0.17 pct
Gold fell for a fifth session on Monday, its longest losing streak in seven months, as rallying stock markets diverted interest from bullion, and ahead of the latest European Central Bank policy meeting and key U.S. data this week.
Spot gold was down 0.5 percent at $1,244.20 an ounce at 0939 GMT, while U.S. gold futures GCv1 for August delivery were down $1.30 an ounce at $1,244.70. Among other precious metals, silver was up 0.2 percent at $18.72 an ounce, recovering from Friday’s 11-month low at $18.60.
** CENTURY ALUMINUM CO, $14.115, +3.41 pct
Analysts at BofA Merrill Lynch upgraded the company’s stock to “neutral”, according to StreetInsider.com.
Compiled by Shubhankar Chakravorty in Bangalore; Editing by Sriraj Kalluvila