October 13, 2014 / 2:16 PM / in 4 years

BUZZ-U.S. Stocks on the Move-Fiat Chrysler, Alco Stores, Doral Financial

(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 see-sawed around the unchanged mark in early trade on Monday after the S&P 500 suffered its worst weekly drop since May 2012 and the Dow moved into negative territory for the year on global growth concerns. The Dow Jones industrial average was down 0.18 percent at 16,514.21, the S&P 500 was down 0.30 percent at 1,900.38 and the Nasdaq Composite was down 18.28 points at 4,257.96.

** CSX CORP, $33.74, +12.69 pct

** CANADIAN PACIFIC RAILWAY LTD, $194.17, +2.53 pct

** UNION PACIFIC CORP, $101.19, -0.15 pct

** NORFOLK SOUTHERN CORP, $107.46, +4.98 pct

** KANSAS CITY SOUTHERN, $117.36, +4.26 pct

Canadian Pacific Railway Ltd has approached the U.S. rail road operator CSX about merging the two North American railroad operators to create a transcontinental carrier worth more than $60 billion, according to the Wall Street Journal.

Shares of Union Pacific, Norfolk Southern and Kansas City were also up.

** TEKMIRA PHARMACEUTICALS CORP, $23.1463, +1.52 pct

** LAKELAND INDUSTRIES INC, $21.36, +8.81 pct

** ALPHA PRO TECH LTD, $8.39, +12.92 pct

A Texas health worker contracted Ebola after treating a Liberian, Thomas Eric Duncan, who died of the disease in Dallas last week.

Shares of Ebola drugmaker Tekmira Pharma, hazmat suits maker Lakeland Industries and face mask maker Alpha Pro Tech Ltd were up on the news.

** FIAT CHRYSLER AUTOMOBILES , $9.12, +4.83 pct

The company began trading on the New York Stock Exchange under the symbol. The shares opened Monday at $9.00, up from Friday’s close of $8.70 for the predecessor company Fiat SpA.

The U.S. listing caps a five-year odyssey for FCA Chief Executive Sergio Marchionne, who spearheaded the rescue of U.S.-based Chrysler after its 2009 bankruptcy.

** ALCO STORES INC, $0.5005, -69.67 pct

The discount retail chain filed for bankruptcy protection late on Sunday, becoming the latest retail victim to seek protection from creditors.

** DORAL FINANCIAL CORP, $7.05, +33.27 pct

A Puerto Rico judge rules in favor of the Puerto Rican bank in $229 million tax dispute with Puerto Rico Treasury Department

** LITHIA MOTORS INC, $69.5, -14.05 pct

The car seller estimated its quarterly profit missed its forecast as used car prices fell, driving down the company’s shares nearly 11 percent in premarket trading.

** DANAHER CORP, $72.09, +0.32 pct

** NETSCOUT SYSTEMS INC, $41.99, +0.19 pct

U.S. healthcare technology group Danaher said it would become majority shareholder in network monitoring company NetScout Systems through a stock deal that involves the merger of Danaher’s communications business with NetScout.

** TARGA RESOURCES CORP, $115.01, -5.46 pct

** TARGA RESOURCES PARTNERS LP, $60.7, -5.13 pct

** ATLAS ENERGY LP, $38.5, +18.79 pct

** ATLAS PIPELINE PARTNERS LP, $34.96, +3.99 pct

Pipeline company Targa Resources and its unit Targa Resources Partners said they would buy Atlas Energy LP and Atlas Pipeline Partners for $5.9 billion, excluding debt.

** ARCELORMITTAL SA, $12.58, +4.66 pct

** BHP BILLITON LTD, $57.75, +3.62 pct

** RIO TINTO PLC, $49.95, +4.61 pct

** VALE SA SHARES, $11.48, +5.32 pct


Chinese steel and iron ore futures surged 4 percent to reach their upside limits on Monday as investors covered short positions on expectations prices may have hit bottom after sliding to record lows over the past two weeks. China’s iron ore imports rose 13 pct from August to 84.69 million tonnes in September, the second highest monthly volume on record, customs data showed.

** ALNYLAM PHARMACEUTICALS INC, $84.22, +15.61 pct

The biotechnology company announced 6-month data from an ongoing mid-stage study evaluating its experimental drug to treat Transthyretin (TTR)-mediated amyloidosis - an inherited, often fatal, disease caused by mutations in the TTR gene. “In this open-label study with patisiran, we are very encouraged to see what we believe to be evidence for possible stabilization of neuropathy progression after the first six months of treatment,” Chief Medical Officer Akshay Vaishnaw said on Monday.

** J.C. PENNEY CO INC, $7.23, +1.54 pct

The department store operator ended a year long search for a chief executive, naming retail industry veteran Marvin Ellison to replace interim CEO Myron Ullman in August 2015.

** SEADRILL LTD, $23.495, +2.91 pct

Brokerage Pareto upgraded the world’s biggest offshore driller’s Oslo-listed shares to “buy” from “hold”. Seadrill has fallen sharply along with peers in recent months as oil firms reduce exploration plans and oil prices tumble. Oil prices dipped to $88.30 per barrel on Monday, hitting their lowest point since November 2010.

** LUXOTTICA GROUP SPA, $47.32, -8.47 pct

The maker of Ray Ban and Oakley said on Sunday Co-Chief Executive Enrico Cavatorta planned to resign, barely two months after assuming the role

** RANDGOLD RESOURCES, $70.21, +5.90 pct

The gold miner’s U.S.-listed shares rise after UBS raises rating on company’s London-listed stock to “buy” from “neutral”.

** TWITTER INC, $50.65, +0.50 pct

One of France’s largest banks is teaming up with the social network this week to allow its customers to transfer money via tweets.

** FOAMIX PHARMA, $5.6, +10.24 pct

Three brokerages start coverage on the drug developer’s stock with their highest rating. Cowen and Co, Oppenheimer & Co started covering the stock with an “outperform” rating, while Barclays Capital starts with “overweight”. Cowen and Oppenheimer cite positive data from the mid-stage trial of the company’s foam-based treatment for acne-related lesions.

** ARCH COAL INC, $1.49, -0.67 pct

** ALPHA NATURAL RESOURCES INC, $1.72, +1.18 pct

** PEABODY ENERGY CORP, $10.41, +2.97 pct

** WALTER ENERGY INC, $1.56, +2.63 pct

Arch Coal said it expected adjusted EBITDA profit of $70 million-$74 million in Q3, higher than the average analyst estimate of $69.94 million

Shares of other coal miners also rise.

** SHUTTERFLY INC, $42.33, -9.86 pct

Private equity firm Silver Lake failed to reach a deal to acquire and combine photo-sharing sites Shutterfly Inc and Snapfish by a deadline on Friday, Bloomberg reported, citing people familiar with the matter.

** STERIS CORP, $56.46, +0.14 pct

The medical technology provider said it offered to buy British sterilization services provider Synergy Health for about $1.9 billion in cash and stock to expand its footprint in Europe.

** GENERAL DYNAMICS CORP, $121.88, +0.54 pct

The maker of Gulfstream jets is expected to unveil a new business jet on Tuesday, the Wall Street Journal reported, citing people familiar with the company’s plans. (Compiled by Ankit Ajmera in Bangalore; Editing by Sriraj Kalluvila)

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