September 16, 2014 / 11:39 AM / 4 years ago

BUZZ-U.S. Stocks on the Move-Siga Technologies, Yahoo, Allergan

(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,; for the Morning News Call newsletter, U.S. stock index e-mini futures fell slightly on Tuesday: Dow Jones industrial average futures were down 0.09 percent at 17,012, S&P 500 futures were down 0.08 percent at 1,982.75 and Nasdaq 100 futures were down 0.13 percent at 4,028.25.

** YAHOO INC, Monday close $42.55, +0.52 pct premarket

Alibaba Group Holding Ltd IPO-BABA.N, in which Yahoo holds 23 percent stake, raised the price range on its initial public offering to $66-$68 per share on Monday, reflecting strong demand from investors for the year’s most anticipated debut and potentially the world’s largest-ever IPO.

** ALLERGAN INC, Monday close $168.56

** VALEANT PHARMACEUTICALS INC, Monday close $121.43

Botox-maker Allergan and its suitors Pershing Square Capital Management and Valeant settled their pending litigation before the Delaware Court of Chancery and agreed to hold a special shareholder meeting on the originally scheduled date, Dec. 18.

** SIGA TECHNOLOGIES INC, Monday close $1.44, -51.39 pct premarket

The drugmaker filed for voluntary bankruptcy protection on Tuesday and said the filing was to preserve its ability to supply its antiviral smallpox drug to the U.S. Strategic National Stockpile.

** GENERAL MOTORS, Monday close $33.63

The company’s Opel division will cut production in Russia and take steps to shrink its workforce as the carmaker reorganizes business in the country due to falling demand. Opel said on Tuesday it would scale back operations at its plant in Saint Petersburg to a total of 16 days during the three-month period August to October.

** MCDONALD’S CORP, Monday close $93.47

Fast-food giant McDonald’s said on Tuesday that it was making its McCafe ground coffee available in Canadian grocery stores this month as part of its broader campaign to win market share in a country long dominated by rivals like Tim Hortons Inc and Starbucks Corp.

** TESLA MOTORS, Monday close $253.86, +0.61 pct premarket

Massachusetts’ highest court on Monday threw out a lawsuit seeking to block the company from selling its luxury electric cars directly to consumers in the state, enabling it to bypass traditional dealerships.

** UNITED AIRLINES, Monday close $49.56

United Airlines and union officials said on Monday that eligible flight attendants would be paid up to $100,000 to leave the company through a voluntary buyout, in a deal that aims to end furloughs at the over-staffed airline. The agreement comes six years after United, which employs more than 23,000 stewards, retired a number of its planes, leaving the company 2,000-plus flight attendants above capacity.

** ASTRAZENECA PLC, Monday close $73.78, -1.48 pct premarket

** ELI LILLY AND CO, Monday close $65.19

UK-based drugmaker AstraZeneca has signed a partnership deal with U.S. rival Eli Lilly that could earn it up to $500 million if a promising - but risky - experimental Alzheimer’s drug proves successful.


The company said India’s drug regulator had approved its copy of a top-selling arthritis treatment, paving the way for its launch in the country early next year. The company’s Indian partner, Ranbaxy Laboratories Ltd, will sell a copycat version of Johnson & Johnson’s and Merck & Co Inc’s infliximab, an anti-inflammatory drug with annual sales of about $6 billion.

** BOEING CO, Monday close $126.31, +0.07 pct premarket

** LOCKHEED MARTIN CORP, Monday close $175.6

A joint venture of Boeing and Lockheed Martin plans to announce on Wednesday that it will team up with Blue Origin, a company run by Inc founder Jeff Bezos, to develop a new rocket engine, a source familiar with the plans said.

** SOTHEBY’S, Monday close $38.52

The auction house said on Tuesday it had opened its first Asian retail wine store in Hong Kong in a bid to tap strong demand for high-quality and readily available vintages.

** DARDEN RESTAURANTS INC, Monday close $49.94

The company shot back with a presentation of its own after a large shareholder offered up pasta recipes to help it revive a slump in sales and blamed unlimited salad and breadsticks at its restaurants for high food wastage. The parent of the Italian-themed Olive Garden said in response to Starboard Value LP’s nearly 300 slides of advice that the endless salad and breadsticks conveyed “Italian generosity”.

** NOVO NORDISK, Monday close $47.77

The company’s new long-acting insulin Tresiba has been shown to be effective and safe for long-term use in children and young adults with type 1 diabetes, according to new data from a late-stage trial presented on Tuesday. Long-acting Tresiba is an important product for future growth at the company, which is the world’s top insulin maker.

** NII HOLDINGS INC, Monday close $0.083

The parent of Nextel operators in Latin America filed for U.S. bankruptcy protection on Monday after struggling for years with debt, fierce competition in Brazil and Mexico, and a dispute with a U.S. hedge fund.

** AMERICA MOVIL, Monday close $26.15

Telecommunications company America Movil has contacted AT&T and SoftBank Corp as it tries to sell a chunk of assets that could be worth up to $17.5 billion, Bloomberg reported on Monday, citing people with knowledge of the matter.

** VIMPELCOM LTD, Monday close $8.38

The mobile operator company and Egypt’s Global Telecom will sell their stakes in Wind Canada for 135 million Canadian dollars ($122 million), the two companies said in a statement on Tuesday. [ID: nL6N0RH0HH]

** BLACKSTONE GROUP LP, Monday close $32.16

The company is aiming to raise about $16 billion for its latest buyout fund, the Wall Street Journal reported, citing sources familiar with the matter. [ID: nL3N0RH1N9]

** ACTAVIS PLC, Monday close $234.84

The attorney general of New York filed a lawsuit against the generic drugmaker and its subsidiary, Forest Laboratories, to stop the companies from discontinuing its Alzheimer’s drug, alleging that they were trying to maintain a monopoly position illegally.

In February, Forest Laboratories announced plans to withdraw its Alzheimer’s drug Namenda from the market, to focus on its new drug, Namenda XR, which is taken once instead of twice daily. The move, also called a “forced switch,” asks doctors to transition patients to Namenda XR, which has additional patent protection and is unlikely to go generic for years.

Compiled by Amrutha Penumudi in Bangalore; Editing by Kirti Pandey

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