(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) The slide in U.S. stock index futures intensified on Tuesday as a fall in the Russian rouble and crude oil prices sent traders fleeing risky assets.
The Dow Jones industrial average futures were down 0.49 percent at 17,105, S&P 500 futures were down 0.58 percent at 1,978.5 and Nasdaq 100 futures were down 0.74 percent at 4,132.75.
** TALISMAN ENERGY INC, Monday close $5.12, +48.83 pct premarket
Spanish oil company Repsol said it had reached a deal to buy Talisman, Canada’s fifth-largest independent oil producer, for $13 billion. Repsol’s offer valued Talisman at $8.00 per share in cash.
Breakingviews article on the deal
** BIOLINERX LTD, Monday close $1.63, +19.63 pct premarket
Swiss drugmaker Novartis AG bought a 12.8 percent stake in the Israeli biopharmaceutical company as part of a multi-year collaboration deal. Novartis acquired an initial 5 million BioLineRx American depositary shares at $2.00 a share.
** YANDEX NV, Monday close $17.68, -6.67 pct premarket
** VIMPELCOM, Monday close $3.37, -5.64 pct premarket
** MOBILE TELESYSTEMS, Monday close $6.92, -9.54 pct premarket
** QIWI, Monday close $21.51, -7.02 pct premarket
** CTC MEDIA INC, Monday close $4.55, -12.09 pct premarket
The slump in the rouble, down 50 percent against the dollar this year, forced Russia’s central bank raised its key interest rate to 17 percent from 10.5 percent on Tuesday. The rouble plunged around 10 percent against the dollar on Monday, its sharpest fall since 1998.
Breakingviews article on the rouble
** BOEING CO, Monday close $122.08, +1.16 pct premarket
The world’s biggest planemaker raised its share repurchase authorization to $12 billion from $10 billion and said it would increase its quarterly dividend by 25 percent, a sign of confidence in its cash outlook for the year. The company had $4.8 billion remaining in its previous stock buyback plan and raised the dividend to 91 cents per share from 73 cents.
** ORANGE, Monday close $15.95, +5.20 pct premarket
Britain’s BT has entered into exclusive talks with Orange and Deutsche Telekom to buy EE for 12.5 billion pounds ($19.6 billion), opting for the country’s biggest mobile operator over rival suitor, Telefonica’s O2.
** PETROBRAS, Monday close $6.26, +0.80 pct premarket
Brazilian prosecutors said on Monday they had filed criminal charges against another former executive at Petrobras and three other people for alleged involvement in a massive kickback scheme at the state-run oil company.
SocGen more than halves its price target on the stock to $7.50 from $18.00, and maintains its “hold” rating.
** FIAT CHRYSLER, Monday close $11.41, +0.44 pct premarket
In Europe, Fiat got its sole break from buoyant sales of Jeep’s new Renegade compact SUV as the brand expands in Europe, with deliveries up a healthy 57 percent to almost 35,000 vehicles so far this year.
Fiat has resumed exports from Brazil to Mexico after a more than three-year hiatus due to weak Brazilian demand and a more favorable exchange rate.
** SUNPOWER CORP, Monday close $23.26, +3.18 pct premarket
** FIRST SOLAR INC, Monday close $41.66, +0.8 pct premarket
Morgan Stanley said it assigned a 75 percent probability to SunPower launching a Yield Co and a 50 percent probability to First Solar, based on recent commentary from each company’s management team.
Based on this, the brokerage upgraded SunPower to “overweight” and introduced a price target of $35. It maintained its “equal-weight” rating on First Solar and introduced a $47 target.
** HEALTHCARE TRUST OF AMERICA INC, Monday close $12.67
The healthcare REIT said its board approved a 1-for-2 reverse stock split, effective 5:00 p.m. ET on Dec. 15.
The move is aimed at “increasing earnings visibility” by reducing the number of shares outstanding as well as lowering trading volatility and investor’s trading costs, CEO Scott Peters said.
** INTERCONTINENTAL HOTELS GROUP, Monday close $37.63, +1.14 pct premarket
InterContinental Hotels, one of the world’s largest hoteliers, has agreed to buy U.S.-focused Kimpton Hotels & Restaurants for $430 million to boost its exposure to the faster-growing boutique hotel sector.
** MCDONALD‘S CORP, Monday close $88.46, -0.41 pct premarket
McDonald’s Holdings Co (Japan) Ltd has embarked on the emergency measure of only offering small-sized french fries to customers as a protracted labour dispute at U.S. West Coast ports has contributed to long delays in imports.
** VODAFONE GROUP PLC, Monday close $33.3, +0.75 pct premarket
** BLACKBERRY LTD, Monday close $9.43
British mobile phone operator Vodafone will get C$850 million ($726 million) in Canadian trade financing to help it buy enterprise services from BlackBerry, Ottawa said. Export Development Canada (EDC) said that C$750 million would go to BlackBerry, while the remaining C$100 million was for future procurement from Canadian suppliers. (Compiled by Anannya Pramanick in Bangalore; Editing by Savio D‘Souza)