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U.S. stocks opened lower on Monday, extending the previous week’s decline as investors monitored the continued civil unrest in Hong Kong for any potential impact on Chinese growth. The Dow Jones industrial average was down 0.88 percent at 16,962.29 and the S&P 500 was down 0.85 percent at 1,965.94.
** AMBIT BIOSCIENCES CORP, $15.305, +86.65 pct
The drugmaker said Daiichi Sankyo Co Ltd will buy the company for $410 million, or $15 per share in cash. The company said the deal includes Ambit’s lead blood cancer drug, quizartinib, which is currently in late-stage studies.
** TIBCO SOFTWARE INC, $23.585, +20.89 pct
The business software maker said buyout firm Vista Equity Partners had agreed to take it private for $4.3 billion.
** ATHLON ENERGY INC, $58.26, +24.67 pct
** ENCANA CORP, $21.69, +2.65 pct}
Encana, Canada’s largest natural gas producer, said it would buy Athlon Energy for $5.93 billion in cash, excluding debt, as it accelerates its plan to focus on more-lucrative oil and natural-gas liquids (NGLs).
** TONIX PHARMACEUTICALS HOLDING CORP, $6.14, -56.02 pct
The company said its lead pain drug had failed the main goal of a mid-stage study testing if it reduced pain experienced by patients by the 12th week of the trial.
** DREAMWORKS ANIMATION SKG INC, $26.158, +16.99 pct
Japan’s SoftBank Corp is in talks to acquire DreamWorks, the Hollywood studio behind the “Shrek” and “Madagascar” movie hits, a person with knowledge of the situation said.
** ALIMERA SCIENCES INC, $5.5202, +12.09 pct
** PSIVIDA CORP, $4.375, +1.98 pct
The U.S. Food and Drug Administration approved the companies’ vision-loss treatment Iluvien after three rejections. PSivida said the approval entitles it to get a milestone payment of $25 million.
** EXELIXIS INC, $1.6399, +5.12 pct
The cancer drug developer’s skin cancer drug cobimetinib combined with Genentech’s Zelboraf doubled the time before the disease worsened, compared to only Zelboraf. Exelixis is entitled to royalties from sales of the drug and as well as half the profits and losses.
** NXT-ID INC, $2.55, -7.94 pct
The biometric authentication company said on Friday production of some components for its Wocket smart wallet had been delayed due to vendor issues. The company said the production of other components on schedule and it was gearing up for full-scale production in early 2015.
** AMAG PHARMACEUTICALS INC, $27.14, +17.08 pct
Amag said it would buy privately held women’s healthcare company Lumara Health Inc for $675 million in cash and stock, gaining access to the only approved product designed to reduce the risk of preterm birth.
** APPLE INC, $99.0544, -1.68 pct
The European Commission will publish on Tuesday its reasons for opening an in-depth inquiry into the Irish government’s tax treatment of Apple, a Commission spokesman said.
** FACEBOOK INC, $78.441, -0.44 pct
Instagram, the popular photo-sharing service owned by Facebook, has been blocked in China, according to numerous reports, including from Hong Kong-based reporters with the New York Times.
** YAHOO INC, $40.3656, -0.72 pct
** AOL INC, $44.42, -0.29 pct
Activist investor Starboard Value LP said on Friday it has acquired a “significant” stake in Yahoo and urged the internet company to explore a merger with AOL.
** CYTRX CORP, $2.8001, +0.72 pct
The drug developer said the U.S. Food and Drug Administration has granted orphan drug status to its lead experimental drug to treat small cell lung cancer, ovarian cancer and brain cancer. The drug, Aldoxorubicin, is currently in late-stage trials under a Special Protocol Assessment with the FDA as a second-line treatment to evaluate safety and effectiveness in patients with cancerous tumors.
** LOCKHEED MARTIN CORP, $180.86, -0.40 pct
The defense supplier said it will buy a European-built military communications satellite for South Korea as part of a $7 billion deal to supply Seoul with 40 F-35 fighter jets, in what industry observers call among the most unusual “offset” agreements ever to accompany a major arms sale.
** CISCO SYSTEMS INC, $24.94, -0.24 pct
The network equipment maker will invest $1 billion over two years to expand its cloud offerings, the company said on Monday, linking hundreds of data centers and cloud providers around the world in a network with more than 30 partners.
** PUMA BIOTECHNOLOGY INC, $235.33, -4.36 pct
The biopharmaceutical company said its experimental lung cancer drug was safe to be administered with an already approved treatment for the disease in a mid-stage study.
** AMERICAN APPAREL INC, $0.7956, +2.00 pct
The retailer said it hired Scott Brubaker, a managing director at turnaround firm Alvarez & Marsal, as interim chief executive, three months after ousting its CEO and founder Dov Charney.
** COTY INC, $16.79, -0.77 pct
The perfume and cosmetics maker said Chief Executive Michele Scannavini stepped down for personal reasons. The company, whose competitors include Estee Lauder Cos Inc, L‘Oreal SA and Elizabeth Arden Inc, named Chairman Bart Becht as interim CEO.
** EXXONMOBIL CORP, $93.915, -1.59 pct
The U.S. oil company is suspending cooperation with Russia’s state-owned company Rosneft on offshore drilling in the Arctic due to sanctions, the daily Kommersant reported on Monday, citing unnamed sources.
** UBS AG, $17.48, -0.96 pct
UBS, Switzerland’s largest bank, warned it faced new fines after confirming it was holding talks to settle allegations it was involved in rigging foreign exchange rates. (Compiled by Anannya Pramanick; Edited by Maju Samuel)