(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s)
U.S. stocks were little changed on Monday, pulling back from earlier gains as consumer discretionary stocks fell. The Dow Jones industrial average was down 0.09 percent at 16,993.7 and the S&P 500 was down 0.16 percent at 1,964.68.
** GT ADVANCED TECHNOLOGIES INC, $0.9196, -91.68 pct
The partner of Apple Inc in a sapphire glass plant in Arizona said it had filed for voluntary bankruptcy protection. The company suffered a major setback last month when its scratch-resistant sapphire glass was left out of Apple’s new large-screen iPhones. The stock fell to a record low of 75 cents.
** DURATA THERAPEUTICS, $23.83, +71.69 pct
Drugmaker Actavis PLC said it would acquire Durata Therapeutics in a deal valued at about $675 million. Actavis’ offer of $23 per share represents a premium of 66 percent to Durata stock’s closing price on Friday.
** ALCOBRA LTD, $6.98, -50.53 pct
The company said its drug to treat adult attention deficit disorder, Metadoxine, cleared a late-stage study, but after excluding data from four of 300 patients who reacted positively to a placebo. Company says “extreme placebo responses” inconsistent with reports in previous trials.
Through Friday’s close, stock had fallen 19 pct since Sept. 19 when company said it completed a follow-up on patients in the study. Shares were set to open at a one-and-a-half-year low on Monday.
** UNILIFE CORPORATION, $2.84, +30.88 pct
The company will be the sole supplier of wearable injections to Sanofi for at least 15 years. Unilife expects to receive about $50 million from customization programs on Sanofi molecules and indications.
** CAREFUSION CORP, $56.753, +22.92 pct
** BECTON DICKINSON & CO, $124.05, +7.09 pct
Medical equipment supplier Becton Dickinson agreed to buy CareFusion Corp, a maker of infusion pumps and other medical devices, for $12.2 billion in cash and stock, marking the latest multibillion-dollar healthcare sector deal. Becton said on Sunday it would pay $58.00 a share - $49.00 in cash and 0.0777 of its share - for each share of CareFusion. This would represent a premium of 26 percent to the closing price on Friday.
** CHIMERIX INC, $31.65, +5.29 pct
** NEWLINK GENETICS CORP, $21.965, -6.77 pct
** SAREPTA THERAPEUTICS INC, $22.06, -5.32 pct
** BIOCRYST PHARMACEUTICALS INC, $11.5, -10.16 pct
Chimerix says its experimental ebola drug has been provided for potential use in patients. The drug, brincidofovir, received Emergency Investigational New Drug Applications from the U.S. Food and Drug Administration.
Shares of other ebola drug developers were down.
** TEKMIRA PHARMACEUTICALS CORP, $24.872, -15.77 pct
Analysts at Leerink Partners downgrades Tekmira’s stock to “market perform” from “outperform,” citing valuation and limited visibility on stock-moving catalysts near term.
Analysts said significant profits from the company’s Ebola treatment, TKM-Ebola, is now “baked” into the stock.
** PETROBRAS SA, $15.93, +14.03 pct
** GOL LINHAS, $5.43, +8.38 pct
** GAFISA SA, $2.5, +9.65 pct
** ITAU UNIBANCO HOLDING SA, $15.39, +9.23 pct
** BANCO BRADESCO, $15.91, +12.28 pct
U.S.-listed shares of Brazilian companies rose in premarket trading on Monday, following an unexpectedly competitive runoff campaign for Brazil’s presidency. The election is between incumbent Dilma Rousseff and her pro-business rival Aecio Neves, who rode a late surge in support in the final days before the first round of voting.
Shares of state-run oil company Petrobras and banks Banco Bradesco and Itau Unibanco were among the most heavily traded on the New York Stock Exchange.
** SUNESIS PHARMACEUTICALS Inc, $1.865, -71.91 pct
The drug developer said its experimental cancer treatment did not meet its main goal in a late-stage trial in patients with refractory acute myeloid leukemia, a type of bone marrow cancer. The company’s shares were the most heavily traded on the Nasdaq.
** MAGNUM HUNTER RESOURCES CORP, $5.41, +4.85 pct
The oil and gas producer said it plans to obtain two new credit facilities, partly to fund operations in Marcellus and Utica Shale fields of West Virginia and Ohio. Expects to increase liquidity by about $115 million. To use proceeds to repay debt of $265 million too.
** H&R BLOCK INC, $29.61, -6.48 pct
** BOFI HOLDING INC, $72.05, -3.08 pct
The tax preparer said its deal to sell its bank to BofI Federal Bank will not be approved by regulators before next year’s tax season. Company aborted a previous attempt to sell the bank after failing to get regulatory approval
** PTC THERAPEUTICS INC, $40.93, -10.69 pc
Cowen and company cut its rating on the stock citing the company’s ongoing end-stage study of Ataluren, to treat certain genetic disorders, may not support U.S. regulatory approval.
Analysts cut rating to “market perform”, becoming the only brokerage out of seven tracking the stock not to rate it “buy” or higher.
** RADIOSHACK CORP, $0.93, -6.06 pct
Trading in the shares of cash-strapped electronics retailer resumed early on Monday after being halted on Friday at 9:15 a.m. Company said on Friday a group of investors led by Standard General LP replaced GE Capital as lead lender of its asset-based credit facility. Investors are also providing $120 million to be used to cash collateralize letters of credit. RadioShack said it would seek to convert the $120 million into equity “in the coming months”.
** HEWLETT-PACKARD CO, $37.02, +5.17 pct
Hewlett-Packard Co said it would split into two listed companies, separating its computer and printer businesses from its faster-growing corporate hardware and services operations. HP said its shareholders would own a stake in both businesses through a tax-free transaction next year.
** MICRON TECHNOLOGY, $32.195, -5.14 pct
The company’s larger rival Samsung Electronics Co Ltd will invest $14.7 bln in a new chip facility
Samsung expects its production capacity to rise by a “low double-digit percentage”
** CONN’S INC, $33.92, +2.98 pct
Electronics and home appliance retailer Conn’s Inc said it would consider selling itself as part of a review of strategic options. Conn’s also adopted a poison pill takeover defense but said it was not in response to any specific takeover bid or other proposal to acquire the company.
** MAZOR ROBOTICS LTD, $12.24, +8.80 pct
The Israeli surgical equipment maker said it sold five Renaissance systems, robotic-assisted spine surgery equipment, in third quarter ended Sept. 30. Company had earlier reported orders for four renaissance systems
** GOPRO INC, $89.582, +3.00 pct
The wearable camera maker’s shares up 2.5 pct at $89.19 after JMP Securities set highest price target on Street, hiking it to $105 from $60. Analysts raised company’s profit estimate and the stock’s price target after nationwide store checks around the launch of the new HERO4 device. (Compiled by Amrutha Penumudi in Bangalore; Edited by Don Sebastian)