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U.S. stock index e-mini futures rose slightly on Monday: Dow Jones industrial average futures were up 0.11 percent at 17,520, S&P 500 futures were up 0.09 percent at 2,027.75 and Nasdaq 100 futures were up 0.23 percent at 4,160.5.
** J.C. PENNEY CO INC, Friday close $7.82, -2.30 pct premarket
A shortfall in projected sales growth for the century-old retailer could drive the stock down 35 percent, according to the Nov. 10 edition of Barron‘s, which notes the company’s chances of reaching its long-term financial goals look slim.
** DENDREON CORP, Friday close $0.9421, -71.34 pct premarket
The biotechnology company filed for chapter 11 bankruptcy protection on Monday and said it had reached agreements on the terms of a financial restructuring with certain bond holders.
** TOLL BROTHERS INC, Friday close $32.22, +2.05 pct premarket
The largest U.S. luxury homebuilder reported a 29 percent jump in quarterly revenue as it sold more homes at higher prices. The number of homes finished rose 22 percent to 1,807 in the fourth quarter ended Oct. 31, while the average selling price rose 6.3 percent to $747,000, the company said.
** DEAN FOODS CO, Friday close $14.42, +11.10 pct premarket
The largest U.S. milk processor forecast a surprise current-quarter profit and reported a smaller-than-expected loss for the third quarter.
** ACHILLION PHAMACEUTICALS INC, Friday close $10.11, +7.22 pct premarket
** GILEAD SCIENCES INC, Friday close $106.45, +2.08 pct premarket
** MERCK & CO INC, Friday close $59.34, -2.71 pct premarket
Interim data from Achillion’s ongoing mid-stage study testing its drug ACH-3102 along with Gilead’s Sovaldi showed 100 percent cure rate in 12 hepatitis-C patients after eight weeks of treatment.
However, Merck’s attempt to shorten hepatitis-C treatment to just four weeks by adding Gilead’s Sovaldi to its own oral two-drug combination did not show the desired efficacy due to a high rate of relapse, according to interim data from a mid-stage study.
** PORTUGAL TELECOM, Friday close $1.52, +10.53 pct premarket
Isabel dos Santos, the daughter of Angola’s president, launched a takeover bid for the company at 1.35 euros per share on Sunday in an attempt to thwart a 7-billion-euro bid for the Portuguese company’s assets.
** TRANSOCEAN LTD, Friday close $29.71, +1.82 pct premarket
The rig contractor’s adjusted profit beat market estimates for the sixth straight quarter as costs fell roughly 4 percent.
** GOPRO INC, Friday close $79.06, -6.17 pct premarket
The wearable camera maker filed for a follow-on offering of up to $800 million of Class A common stock. GoPro did not specify how many shares it will sell and how many shares will be offered by selling stockholders.
** GOGO INC, Friday close $16.64, -6.85 pct premarket
The in-flight wireless Internet service provider reported a third-quarter net loss of 29 cents per share, bigger than the 26 cents analysts had expected on average.
** AMERICAN AIRLINES GROUP INC, Friday close $43.2, -0.72 pct premarket
The airlines’ flight attendants narrowly rejected a joint labor contract on Sunday, in a defeat following the merger of American and the former US Airways last year that brought together a combined workforce of some 24,500 U.S.-based stewards.
** CHEETAH MOBILE INC, Friday close $20.2, +5.35 pct premarket
The Chinese security software maker reported better-than-expected revenue and profit for the third quarter. Cheetah Mobile’s revenue from online marketing services, its biggest division, more than doubled in the quarter and revenue from its internet value-added services business, its second biggest, rose four-fold. The company also forecast fourth-quarter revenue above the average analyst estimate.
** ARQULE INC, Friday close $1.06, +14.15 pct premarket
The drug developer’s data showed its prostate cancer drug, tivantinib, improved survival among patients, without the disease getting worse.
** BLACKBERRY, Friday close $10.53, +1.23 pct premarket
The company, which has completed the first phase of its two-year turnaround plan, is now focused on profitability and will not spread itself thin by attempting to launch too many new devices, Chief Executive John Chen said.
** GENERAL MOTORS CO, Friday close $31.59, -0.92 pct premarket
The automaker ordered half a million replacement ignition switches almost two months before it alerted federal safety regulators of the issues that prompted a recall of millions of vehicles, the Wall Street Journal reported, citing email exchanges between the automaker and its supplier Delphi Automotive Plc.
** AT&T INC, Friday close $34.91, +0.63 pct premarket
The company agreed to pay $1.7 billion to acquire Mexico’s third-largest wireless operator, Iusacell, as it seeks to grab a slice of a market with lower cellular penetration than the United States and faster potential growth. (Compiled by Avik Das in Bangalore; Editing by Kirti Pandey)