(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 nearly flat in early afternoon trading on Monday but were off the lows of the session following the S&P 500's break below 1,900 and another key technical support level. The Dow Jones industrial average was down 0.02 percent at 16,540.31, the S&P 500 was down 0.13 percent at 1,903.72 and the Nasdaq Composite was down 0.07 percent at 4,273.36.
** ALCO STORES INC, $0.4502, -72.72 pct
The Texas-based discounter filed for bankruptcy, joining the list of smaller U.S. retailers seeking protection from creditors. The company said it entered into debtor-in-possession credit agreement of $110 million and senior secured-term loan of $12.7 million.
** GT ADVANCED TECHNOLOGIES INC, $0.3926, -51.53 pct
Solar and LED equipment maker said on Friday it would cut 890 jobs and close an Arizona plant expected to make scratch-resistant screens for Apple Inc
GT Advanced filed for Chapter 11 bankruptcy with little warning last week, sending its shares plummeting 90 percent to below $1
** DORAL FINANCIAL CORP, $7, +32.33 pct
A Puerto Rico judge ruled in favor of the Puerto Rican bank in $229 million tax dispute with the Puerto Rico Treasury Department
** LITHIA MOTORS INC, $66.01, -18.37 pct
** AUTONATION INC, $66.01, -18.37 pct
** ASBURY AUTOMOTIVE GROUP INC, $63.3, -5.69 pct
** PENSKE AUTOMOTIVE GROUP INC, $37.91, -8.52 pct
** CARMAX INC, $44.58, -2.24 pct
Lithia Motors estimated its quarterly profit missed its forecast as used-car prices fell. The said it now expected $1.30-$1.32 per share in adjusted earnings from continuing operations for the third quarter ended Sept. 30 - below its forecast of $1.36-$1.38.
Shares of other car retailers were also down.
** AEROHIVE NETWORKS, $4.79, -27.75 pct
The developer of cloud-based mobile networking technology estimated a bigger-than-expected loss for third-quarter. Aerohive said it expects revenue for third-quarter to be about $34.5 million-$35.5 million, below previous guidance of $38 million-$40 million.
** DRYSHIPS, $1.525, -18.01 pct
The drybulk shipper withdrew its offering of $700 million of senior notes, citing market conditions.
** ALNYLAM PHARMACEUTICALS INC, $87.88, +20.63 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.
** SUPERCOM LTD, $10.3306, +10.25 pct
The Israeli digital identification products maker said it will implement a contract to provide biometric visa, electronic passport, identification cards and border control systems for a “country with a fast-growing economy”.
** COMPUWARE CORP, $10.325, -0.63 pct
** COVISINT CORP, $3.01, -22.82 pct
Business software maker Compuware, which has an 83 pct stake in cloud-based supply chain software provider Covisint, said on Friday that it would spin off the company.
Compuware, been under pressure from investors for more than a year over its poor performance and agreed to be taken private by investment firm Thoma Bravo LLC in September in a deal valued at about $2.5 billion.
** FOAMIX PHARMA, $5.7, +12.20 pct
Three brokerages started 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.
** GOPRO INC, $77.56, -8.81 pct
The wearable camera maker’s shares tumbled after French journalist Jean-Louis Moncet suggested over the weekend that a GoPro camera was responsible for the head injuries suffered by retired Formula 1 racing legend Michael Schumacher during a skiing accident last December, according to SeekingAlpha.
** CSX CORP, $32.38, +8.15 pct
** CANADIAN PACIFIC RAILWAY LTD, $191.66, +1.21 pct
** UNION PACIFIC CORP, $100.45, -0.88 pct
** NORFOLK SOUTHERN CORP, $105.21, +2.78 pct
** KANSAS CITY SOUTHERN, $113.9, +1.18 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.
However, analysts said any such deal would face significant regulatory and other hurdles.
Shares of Norfolk Southern and Kansas City were also up.
** GOODRICH PETROLEUM CORP, $8.06, -25.58 pct
** MAGNUM HUNTER RESOURCES CORP, $4.12, -7.62 pct
** LRR ENERGY LP, $14.22, -7.60 pct
** SWIFT ENERGY CO, $7.36, -4.17 pct
** RESOLUTE ENERGY CORP, $4.22, -6.43 pct
Brent crude oil fell below $88 a barrel on Monday, its lowest in almost four years, after key Middle East producers signaled they would keep output high even if that meant lower prices. U.S. crude was down 1.5 pct at $84.83 at 12:02 hrs ET.
** BANCO BRADESCO, $16.51, +9.85 pct
** ITAU UNIBANCO HOLDING SA, $16, +10.12 pct
** COMPANHIA SIDERURGICA NACIONAL, $3.58, +3.77 pct
** COSAN LTD, $11.7, +8.13 pct
** COMPANHIA ENERGETICA DE MINAS GERAIS CEMIG, $7.19, +6.52 pct
** CENTRAIS ELETRICAS BRASILEIRAS SA, $3.07, +9.25 pct
** PETROLEO BRASILEIRO PETROBRAS SA, $18.61, +12.45 pct
Shares of Brazilian companies rose as investors saw higher likelihood of challenger Aecio Neves defeating President Dilma Rousseff in this month’s election.
** IBIO INC, $2.32, +57.82 pct
** TEKMIRA PHARMACEUTICALS CORP, $23.719, +4.03 pct
** LAKELAND INDUSTRIES INC, $21.63, +10.19 pct
** ALPHA PRO TECH LTD, $8.51, +14.54 pct
** SHARPS COMPLIANCE CORP, $5.415, +11.88 pct
** CHEMBIO DIAGNOSTICS INC, $4.5094, +14.16 pct
- Little-known medical equipment and biotech companies jumped on Wall Street on Monday, following news that a nurse had become the first person to contract the deadly Ebola virus in the United States.
** TARGA RESOURCES CORP, $114.5, -5.88 pct
** TARGA RESOURCES PARTNERS LP, $61.42, -4.00 pct
** ATLAS ENERGY LP, $38.04, +17.37 pct
** ATLAS PIPELINE PARTNERS LP, $35.33, +5.09 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, $12.51, +4.08 pct
** BHP BILLITON LTD, $57.99, +4.06 pct
** RIO TINTO PLC, $50.25, +5.24 pct
** VALE SA SHARES, $11.77, +7.98 pct
** CLIFFS NATURAL RESOURCES INC, $8.36, +14.21 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.
** J.C. PENNEY CO INC, $7.25, +1.83 pct
The department store operator named Marvin Ellison, credited with resurrecting Home Depot Inc’s U.S. business, as its next chief executive as it looks to push on since stemming a two-year long sales decline.
** LUXOTTICA GROUP SPA, $47.21, -8.68 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, $70.56, +6.43 pct
The gold miner’s U.S.-listed shares rise after UBS raises rating on company’s London-listed stock to “buy” from “neutral”.
** FIAT CHRYSLER AUTOMOBILES, $9, +3.45 pct
Fiat Chrysler Automobiles made its Wall Street debut to great fanfare on Monday, shifting the carmaker’s centre of gravity away from Italy and capping a decade of canny dealmaking and tough restructuring by CEO Sergio Marchionne.
FCA shares opened at $9.00 in New York, up from a Friday close for the predecessor company Fiat of $8.7, and rose to as much as $9.55 in early trading. In Milan, where the company will keep a secondary listing, shares rose more than 4 percent during the session and were up 0.9 percent at 1440 GMT.
** SHUTTERFLY INC, $42.37, -9.77 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.
** CYTOKINETICS INC, $3.36, +9.45 pct
The drug developer said its experimental therapy for muscle weakness was found safe and well tolerated in five early-stage trials. The company said the drug’s oral tablet formulation was found appropriate for mid-stage trial.
** PRANA BIOTECHNOLOGY LTD, $1.95, +4.28 pct
The Australian biotechnology company’s founding scientist and chief scientific adviser, Rudy Tanzi, co-authored paper on Alzheimer’s disease, published in Nature journal on Sunday. Brain cells grown by Tanzi and his colleague in petri dish developed signs of Alzheimer’s disease. Report could play important role in developing future treatments for Alzheimer‘s.
** MARLIN MIDSTREAM, $18.984, +3.57 pct
Oil and gas transportation and storage company said its sponsor company, NuDevco Midstream Development LLC, bought land in Enuice, New Mexico, to develop crude oil terminal.
** INFOSYS LTD, $64.35, +2.44 pct
Jefferies & Co raised its price target to $60 from $59. Deutsche Bank upgraded the company’s India-listed shares to “buy” from “hold” and raised price target to 4,400 Rupees from 3,400 rupees. (Compiled by Ankit Ajmera in Bangalore; Editing by Sriraj Kalluvila)