(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 rose at the open on Monday, following the worst week for the benchmark S&P 500 index in more than two years, with investors focused on crude oil prices which earlier hit a fresh 5-1/2-year low.
The Dow Jones industrial average was up 0.52 percent at 17,370.45, the S&P 500 was up 0.71 percent at 2,016.52 and the Nasdaq Composite was up 0.68 percent at 4,685.421.
** SOPHIRIS BIO INC, $0.7401, -73.76 pct
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, $0.96, -31.43 pct
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, $9.11, +11.37 pct
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).
** TWITTER INC, $37.9, +2.16 pct
JMP Securities started coverage of the stock with a "market outperform" rating and a $49 price target. "We acknowledge there may be some risk in the short-term around 4Q MAU (monthly active users) growth, but we believe this is priced in at current levels and we expect MAUs to rebound in 1Q15 as overall engagement benefits from Twitter's product improvements," the brokerage said.
** SORRENTO THERAPEUTICS INC, $6.58, +13.45 pct
The cancer drugmaker said it partnered with NantWorks founder, and biotechnology entrepreneur Dr Patrick Soon-Shiong, who took a 19.9 percent stake in Sorrento by buying shares at $5.80 each, which was closing price on Friday.
** EXCO RESOURCES INC, $2.13, -4.91 pct
The company suspended it dividend. "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, $20.448, +9.11 pct
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. The firms offered $21 per share in cash, representing a premium of 12 percent to Riverbed's Friday closing price.
** EMERSON ELECTRIC CO, $59.26, +1.42 pct
** REGAL BELOIT CORP, $72.37, +5.84 pct
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, $22.23, +17.99 pct
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.
** HONEYWELL INTERNATIONAL INC, $96.7, +0.86 pct
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, $6.79, -4.50 pct
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, $81.29, +4.66 pct
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, $2.93, -1.01 pct
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, $50.9535, +1.97 pct
** ELECTRONIC ARTS INC, $46.11, +2.71 pct
** LAM RESEARCH CORP $79.71, +1.70 pct
** EXPEDIA INC, $88.46, +1.06 pct
** F5 NETWORKS INC, $129.92, -0.48 pct
** MAXIM INTEGRATED PRODUCTS INC, $31.06, +3.17 pct
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.
** CHEETAH MOBILE INC, $15.38, -1.73 pct
** CHINA FINANCE ONLINE CO LTD, $6.76, -11.29 pct
** JUMEI INTERNATIONAL HOLDING LTD, $13.2, -2.22 pct
** DAQO NEW ENERGY CORP, $25.455, +3.06 pct
** CHINA HGS REAL ESTATE INC, $4.77, +6.47 pct
** LEJU HOLDINGS LTD, $10.76, -0.65 pct
** CHINA INFORMATION TECHNOLOGY INC, $4.03, -6.39 pct
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)