January 12, 2015 / 2:53 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Tiffany, Tekmira, Lululemon, SanDisk

(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. stock indexes fell on Monday. The Dow Jones industrial average was down 0.51 percent at 17,646.66, the S&P 500 was down 0.56 percent at 2,033.36 and the Nasdaq Composite was down 0.37 percent at 4,686.524.

** FOUNDATION MEDICINE INC, $50.945, +112.89 pct

Swiss drugmaker Roche Holding AG will acquire a majority stake in molecular and genomic analysis firm Foundation Medicine for up to $1.18 billion, it said on Monday, in a move to bolster its personalized cancer treatments.

** ARROWHEAD RESEARCH CORP, $6.79, -25.06 pct

The drug developer said the U.S. Food and Drug Administration asked it to reduce the dosage of its experimental Hepatitis B treatment and requested additional data from the drug’s mid-stage trial.

** AMERISOURCEBERGEN CORP, $93.59, +0.63 pct

** MWI VETERINARY SUPPLY INC, $189.8, +8.06 pct

Pharmaceutical products distributor AmerisourceBergen said it would buy MWI, an animal health products distributor, for about $2.5 billion. AmerisourceBergen said it would pay $190 per MWI share, representing a premium of about 8 percent over the stock’s Friday close.

** LULULEMON ATHLETICA INC, $61.64, +5.13 pct

The yogawear chain raised its revenue and profit forecasts for the fourth quarter above the average analyst estimate, citing strong holiday season sale.

** TIFFANY & CO, $92.23, -10.85 pct

The upscale jeweler cut its adjusted earnings forecast for the year ending Jan. 31 and said it anticipated “significant headwinds” from a stronger U.S. dollar in the coming year.

** SANDISK CORP, $85.78, -11.60 pct

The chipmaker estimated fourth-quarter revenue below its forecast, citing lower revenue primarily due to weaker-than-expected sales of its retail products and NAND storage chips.


The Canadian drugmaker agreed to buy Pennsylvania-based OnCore Biopharma Inc to focus on developing hepatitis B virus treatment by combining multiple therapeutic methods. The implied market value of the merged company is about $750 million, based on Tekmira stock’s closing price of $15.70 on the Nasdaq on Jan. 9, the companies said in a statement.

** AGENUS INC, $6.3, +19.09 pct

** INCYTE CORP, $73.45, +1.97 pct

Two brokerages raised their price targets on Agenus’ stock after the company signed a drug development deal with Incyte for novel immuno-oncology antibodies.

** EXPRESS INC, $14.79, +4.75 pct

The apparel retailer raised its fourth-quarter and full-year profit forecast due to strong holiday season sales. The company said it expected fourth-quarter comparable sales to fall by 3-4 percent from a prior forecast of mid- to high-single digit decline.

** AFFYMETRIX INC, $10.8, +3.95 pct

The drug developer estimated fourth-quarter revenue of about $93 million, above the average analyst estimate of $89.94 million, and the company forecast full-year revenue to rise 9 percent to $348 million, above analysts’ estimate of $346 million.

** NPS PHARMACEUTICALS INC, $45.43, +8.40 pct

British drugmaker Shire Plc has agreed to buy U.S. group NPS Pharmaceuticals for $5.2 billion, its biggest acquisition yet as it seeks to strengthen its position in the lucrative field of medicines for rare diseases. Shire will pay $46 per NPS share, representing a premium of nearly 10 percent to NPS’s Friday close, the two companies said on Sunday.

** BRISTOL-MYERS SQUIBB CO, $62.91, +4.29 pct

The pharmaceutical company said the independent data monitoring committee concluded that a late-stage study evaluating Opdivo versus docetaxel in previously treated patients with advanced, squamous cell non-small cell lung cancer met its endpoint.

** BIOGEN IDEC INC, $347.38, +1.47 pct

The biotech company said on Sunday it would buy small, privately held Convergence Pharmaceuticals to acquire the U.K.-based company’s portfolio of experimental drugs for chronic nerve pain.

** BP PLC, $35.74, -2.30 pct

** ANADARKO PETROLEUM CORP, $75.5, -4.60 pct

BP and Anadarko narrowly failed to persuade a U.S. appeals court to reconsider its 2014 ruling that they could face civil fines under federal pollution laws over the 2010 Gulf of Mexico oil spill.

** ROYAL DUTCH SHELL PLC, $62.58, -2.55 pct

The oil and gas producer will cut 5-10 percent of the just over 3,000 jobs at its Albian Sands mining project in northern Alberta, a company spokesman said on Friday, although he refrained from connecting the move to plunging oil prices.

** ASTRAZENECA PLC, $70.36, +1.32 pct

The drugmaker said on Monday its MedImmune biotech unit had struck a deal with unlisted U.S. company Omnis Pharmaceuticals on the development of cancer-fighting oncolytic viruses.

** DOLLAR GENERAL CORP, $66.48, -2.41 pct

** DOLLAR TREE INC, $69.18, -0.40 pct

** FAMILY DOLLAR STORES INC, $77.1, -1.14 pct

Discount store chain Dollar Tree said it expected to divest fewer than 300 stores to buy larger rival Family Dollar, and had already identified potential buyers. Dollar Tree, which had 5,282 stores in the United States and Canada as of Nov. 1, said it would likely sign an agreement by the end of the month with the U.S. Federal Trade Commission (FTC) on the number of stores it would have to divest.

Some 20 state attorneys general have joined the federal antitrust investigation of competing bids by Dollar General and Dollar Tree to buy Family Dollar, a development that potentially complicates the companies’ efforts to win U.S. approval for a deal. (Compiled by Yashaswini Swamynathan in Bengaluru; Editing by Kirti Pandey)

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