(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for more market insights, including options activity, ; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) The S&P 500 vaulted above 2,000 for the first time on Monday, with financials and biotechnology stocks lifting the benchmark index to a new record as investors bet on equities as a preferred asset over bonds. The Dow Jones industrial average was up 0.50 percent at 17,086.21 and the S&P 500 was up 0.48 percent at 1,997.92.
** REGADO BIOSCIENCES INC, $1.14, -59.86 pct
The company’s shares lost nearly half of their value in premarket trading, after the company stopped enrollment in a late-stage trial of its lead drug following concerns of allergic reactions.
** BURGER KING WORLDWIDE INC, $33.539, +23.71 pct
** TIM HORTONS INC, $77.29, +22.99 pct
Burger King is in talks to acquire Canadian coffee and doughnut chain Tim Hortons Inc in a deal that would create a fast food powerhouse with a market capitalization of roughly $18 billion.
** DIGITAL ALLY INC, $12.55, +58.06 pct
** TASER INTERNATIONAL INC, $16.01, +1.91 pct
Stocks of the two companies gained due to a spike in interest for wearable video cameras after the Ferguson, Missouri shooting on Aug. 9.
** INTERMUNE INC, $72.96, +35.61 pct
Roche Holding AG has agreed to buy U.S. biotech company InterMune for $8.3 billion in cash, helping the world’s leading maker of cancer drugs expand into the treatment of rare or incurable diseases.
** J.C. PENNY CO INC, $10.7, +5.00 pct
J.P. Morgan Securities analysts said they expected the department stores’ operator to shut more stores, which will add to savings. The stock “sets up well for a long trade through year-end,” said the analysts, who have a “neutral” rating on the stock. Up to Friday’s close, the stock’s 11.4 pct rise this year is more than the 1.4 pct rise in the Dow Jones U.S. retailers index.
** GREIF INC, $47.6, -5.37 pct
The industrial packaging products maker cut its full-year earnings forecast to $1.98-$2.08 per Class A share, from $2.48-$2.80. The company said it expected $15.4 million in asset impairment charges and $33 million in non-cash allocations of goodwill for divestitures. \
** XG TECHNOLOGY INC, $2.0699, +6.70 pct
Roth Capital Partners started coverage of the radio technology developer’s stock with a “buy” rating and a $5 price target.
** EXACT SCIENCES CORP, $21.09, +4.30 pct
The molecular diagnostics company said its colon cancer screening test will be launched at the Mayo Clinic and made available to patients through primary care physicians. Cologuard test analyzes DNA from stool samples.
** EBIX INC, $14.58, +3.85 pct
The insurance software maker said it plans to repurchase up to $80 million of shares over the next 12 months.
** ADVANCED DRAINAGE SYSTEMS, $17.88, +4.20 pct
The maker of corrugated polyethylene pipes said late on Friday that certain stockholders sold an additional 600,000 shares of common stock to underwriters, as part of its initial public offering.
** MORGAN STANLEY, $34.49, +3.05 pct
** GOLDMAN SACHS GROUP INC, $178.59, +1.78 pct
Morgan Stanley and Goldman are in preliminary discussions with U.S. Department of Justice to settle allegations that they sold bad mortgage-backed securities, The Financial Times reported on Friday. Goldman agreed last week to settlement of $1.2 billion to resolve U.S. housing finance regulator’s claims that it sold Fannie Mae and Freddie Mac faulty mortgage bonds.
** LIFE TIME FITNESS INC, $46.02, +10.63 pct
The fitness center operator said it was exploring conversion of its real estate assets into a real estate investment trust (REIT). The company’s stock was among the biggest percentage gainers on the New York Stock Exchange.
** CBOE HOLDINGS INC, $53.26, +4.31 pct
Raymond James raised its rating on the exchange operator’s stock to “outperform” from “market perform”, citing strong trading volume in August. Nine of the 14 analysts covering the stock have a “hold” rating, three have a “buy” rating, according to Thomson Reuters StarMine data.
** NETLIST INC, $1.23, +19.42 pct
The memory subsystem maker says U.S. Patent and Trademark Office denied semiconductor company Inphi Corp’s request for a rehearing on its earlier ruling in favor of Netlist. Inphi filed lawsuit in late 2009, saying Netlist infringed on two memory interface patents used in storage applications.
** ADVAXIS INC, $3.765, +15.85 pct
** MERCK & CO INC, $59.77, +1.01 pct
Advaxis said it would test an experimental immuno-oncology drug in combination with a high-profile immunotherapy from Merck as a treatment for patients with advanced prostate cancer.
** ANN INC, $39.44, +5.12 pct
An activist investor urged women’s apparel retailer to sell itself, saying it could fetch as much as $2.52 billion, failing which each of the company’s board members should buy back stock as a “sign of confidence”.
** UNITED STATES STEEL CORP, $38.71, +2.38 pct
Credit Suisse raised its rating on the steel producer’s stock to “outperform” from “underperform” and target price to $50 from $25. Analysts at Credit Suisse expect higher steel prices, raw material cost advantages to position the company as one of the world’s most profitable steel makers. (Compiled by Lehar Maan in Bangalore; Edited by Maju Samuel)