(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 set to rise at the open on Monday, following the worst week for the S&P 500 in more than two years, with investors focused on crude oil prices which earlier hit a fresh 5-1/2-year low.
Dow Jones industrial average futures were up 0.65 percent at 17,368, S&P 500 futures were up 0.80 percent at 2,013.25 and Nasdaq 100 futures were up 0.84 percent at 4,224.5.
** SOPHIRIS BIO INC, Friday close $2.82, -67.66 pct premarket
The drug developer said interim data showed that its only pipeline compound did not meet a predetermined threshold for efficacy in treating lower urinary tract symptoms of enlarged prostate.
** UNWIRED PLANET INC, Friday close $1.4, -21.43 pct premarket
The intellectual property and technology licensing company said the claim construction order in their pending case against Google Inc “are disappointingly negative and will materially impact our case”.
** OPKO HEALTH INC, Friday close $8.18, +13.08 pct premarket
The drug developer licensed its hormone therapy to Pfizer Inc for an upfront payment of $295 million. The therapy, hGH-CTP, is used to treat patients with growth hormone deficiency (GHD).
** EXCO RESOURCES INC, Friday close $2.24, -12.95 pct premarket
The company suspended paying cash dividend to save funds. “In view of the recent decline in oil prices and oil and natural gas companies` securities, the Board believes that EXCO’s shareholders will be better served by reinvesting in our business rather than paying a dividend at this time,” Chairman Jeff Benjamin said.
** RIVERBED TECHNOLOGY INC, Friday close $18.74, +9.55 pct premarket
Thoma Bravo LLC and Ontario Teachers’ Pension Plan said they would buy the network equipment maker in a deal that valued the company at about $3.6 billion.
** EMERSON ELECTRIC CO, Friday close $58.43, +2.46 pct premarket
** REGAL BELOIT CORP, Friday close $68.38, +6.79 pct premarket
Emerson said it would sell its power transmission unit to Regal Beloit, a maker of electric motors, for $1.44 billion as it streamlines its business.
** CIRRUS LOGIC INC, Friday close $18.84, +7.64 pct premarket
Barclays raised its price target on the audio chipmaker’s stock to “overweight” from “underweight” and hiked its price target to $28. Barclays analysts expect Cirrus will supply more audio chips for Apple Inc’s iPhone 6S and that the company would get a contract for Samsung Electronics Co Ltd’s upcoming Galaxy S6 device.
** KINGOLD JEWELRY INC, Friday close $0.9165, +6.93 pct premarket
The Chinese gold jewelry designer terminated with immediate effect an “at market issuance” agreement to sell up to $10 million in stock, without selling any shares under the facility.
** HONEYWELL INTERNATIONAL INC, Friday close $95.88, +0.45 pct premarket
The diversified manufacturer of aircraft parts and electronic equipment forecast lower-than-expected sales for the next year, citing slow global economic growth. The company also cut its fourth-quarter revenue forecast.
** PETROLEO BRASILEIRO SA, Friday close $7.11, -2.11 pct premarket
The Brazilian state-run oil company delayed the release of its third-quarter financial results for a second time on Friday as a result of new developments in a widening corruption probe.
** PETSMART INC, Friday close $77.67, +4.61 pct premarket
The pet supply retailer succumbed to calls from some shareholders for a sale on Sunday with an agreement to be bought by a private equity consortium led by BC Partners Ltd for $8.7 billion, in the largest leveraged buyout of the year. The offer price is $83.00 per share in cash.
** KINROSS GOLD CORP, Friday close $2.96, -2.70 pct premarket
The gold miner’s Toronto-listed stock will be removed from the S&P/TSX composite index, effective after the market closes on Dec 19.
** AMERICAN AIRLINES GROUP INC, Friday close $49.97, +1.08 pct premarket
** ELECTRONIC ARTS INC, Friday close $44.895, +1.01 pct premarket
** LAM RESEARCH CORP, Friday close $78.375, +0.77 pct premarket
** EXPEDIA INC, Friday close $87.53
** F5 NETWORKS INC, Friday close $130.545
** MAXIM INTEGRATED PRODUCTS INC, Friday close $30.625, -0.41 pct premarket
Nasdaq OMX Group announced the results of its annual re-ranking of the Nasdaq 100 index, which comprises the 100 largest non-financial companies listed on the exchange.
American Airlines, Electronic Arts and Lam Research will be added to the index, while Expedia, F5 Networks and Maxim Integrated will be removed effective Dec. 22.
Deutsche Bank raised its price target on American Airlines stock to $67 from $54.
** CHINA HGS REAL ESTATE INC, Friday close $4.48, +11.61 pct premarket
** CHINA FINANCE ONLINE CO LTD, Friday close $7.62, +1.57 pct premarket
** JUMEI INTERNATIONAL HOLDING LTD, Friday close $13.5, +5.19 pct premarket
** CHEETAH MOBILE INC, Friday close $15.65
** DAQO NEW ENERGY CORP, Friday close $24.7
** LEJU HOLDINGS LTD, Friday close $10.83
** CHINA INFORMATION TECHNOLOGY INC, Friday close $4.305
Nasdaq OMX Group announced the results of the quarterly re-ranking of the Golden Dragon China Index.
Cheetah Mobile, DAQO, China HGS, Jumei, China Finance and Leju Holdings will be added to the index, effective before the market opens on Dec. 22. China Information Technology will be removed from the index. (Compiled by Anannya Pramanick in Bangalore; Editing by Savio D’Souza)