(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 edged higher on Monday following strong gains in major indexes the previous week, as investors assessed gyrations in the dollar and crude prices and their impact on equities. The Dow Jones industrial average was up 0.40 percent at 18,199.92 and the S&P 500 was up 0.23 percent at 2,113.01.
** RADA ELECTRONIC INDUSTRIES INC, $2.9, +71.60 pct
The Israel-based defense electronics contractor’s radar selected by Lockheed Martin Corp’s space systems unit to support high-energy laser weapon system prototype testing.
The stock, the top percentage gainer on the Nasdaq, on track to post best day in six months.
** MEI PHARMA INC, $2.16, -65.71 pct
The drug developer lost more than two-thirds of its market value on Monday after the company’s cancer drug failed to meet the main goal in a mid-stage study.
** IMMUNOGEN INC, $8.72, +17.20 pct
The drug developer granted license to Japan-based Takeda Pharmaceutical Co Ltd to use its antibody drug conjugate technology to develop and commercialize anticancer therapies
** MOLYCORP INC, $0.4838, +34.39 pct
Shares of the only rare earth metal miner in the United States rose after CBS News' "60 minutes" show, which aired on March 22, focused on the importance of rare earth elements in modern life. (cbsn.ws/1COArIu)
** CAPNIA INC, $7.05, +31.28 pct
Maxim starts coverage on the company with a “buy” rating and $9 price target, citing potential in the company’s device, CoSense, which is the only device in the market that predicts onset of jaundice in newborns.
** VERTEX PHARMACEUTICALS INC, $125.04, +7.51 pct
The drugmaker reported mixed results from 12-week study of its drug for cystic fibrosis in combination with approved drug, ivacaftor. The company said the drug met the main goal of achieving safety levels.
** PAPA MURPHY’S HOLDINGS INC, $17.96, +8.91 pct
CNBC Mad Money show host Jim Cramer said late on Friday that he was "excited" about the pizza chain operator's growth opportunity. "Papa Murphy's expects to triple its locations to 4,500 stores in the U.S. alone. Money managers will be salivating over this thing," said Cramer. (cnb.cx/1FtX31k)
** DYNAVAX TECHNOLOGIES CORP, $24.9, +10.08 pct
J.P. Morgan upgrades the stock to “overweight” from “neutral”. J.P. Morgan analysts said they expect a smooth regulatory path for the company’s Heplisav vaccine for hepatitis B, pending positive data from its late-stage study expected at the year end or early next year.
** CALLON PETROLEUM CO, $7.46, +8.27 pct
Oil and gas producer said it entered into an agreement with shareholder Lone Star Value Management LLC, following which company agrees to expand board from seven to eight directors.
** NAVIOS MARITIME PARTNERS LP, $10.6, +8.72 pct
Deutsche Bank upgrades the dry bulk shipper’s stock to “buy” from “hold”. “Last week’s 17 percent decline in the stock took us off the sidelines and into the ‘Buy’ camp”, analysts wrote in a note.
** IDREAMSKY TECHNOLOGY LTD, $7.5472, +7.51 pct
The Chinese mobile game distributor said fourth-quarter revenue more than doubled to 328.4 million yuan ($52.9 million) from a year earlier and average monthly active users increased 21.5 percent to 110.6 million
** TENET HEALTHCARE CORP, $51.96, +4.72 pct
The hospital said it would create the largest provider of ambulatory surgery services in the United States through a joint venture with United Surgical Partners International (USPI), with the option to buy USPI over five years.
** HERBALIFE LTD, $44.81, +6.44 pct
The weight loss and nutritional products maker’s shares rose on short squeeze, traders said, following recent positive news on the company.
** CYBERARK SOFTWARE LTD, $54.4901, +11.91 pct
BofA Merrill Lynch starts with a “buy” rating on the stock, becoming the third of 10 brokerages to rate the stock “buy” or higher. “We believe revenue growth potential is under appreciated given the growing total addressable market and cross sell/license expansion opportunity within the company’s existing install base,” BofA analysts wrote in a note.
** SONUS NETWORKS INC, $13.42, -7.03 pct
Wunderlich cuts price target on the stock to $17 from $22; well below the median price target of $23. Much of the demand for the company’s 7000 session border controller, which is expected to be the main driver of revenue growth, is expected only in late 2015, analyst wrote in a note.
** GRAY TELEVISION INC, $13.7, -4.99 pct
The broadcaster announced a public offering of 12 million shares, which represents about 23 percent of company’s total outstanding shares.
** Digital Ally Inc, $12.4324, +5.45 pct
The wearable camera maker’s laser detection and ranging (LIDAR) technology granted a patent. The company said its LIDAR technology allows police vehicles to accurately measure speeds of multiple vehicles at the same time.
** RUBY TUESDAY INC, $6.19, -4.92 pct
Longbow Research LLC downgrades stock to “neutral” from “buy”. Latest checks indicate that the company continues to struggle, mainly with lack of new product success over the last 12 months, analysts wrote in a note.
** NVIDIA CORP, $22.8738, -2.54 pct
Goldman Sachs downgrades stock to “sell” from “neutral”, citing complacency in the market about the risks of Intel revenue going away if license not renewed. Intel’s final payment to Nvidia is scheduled for January 2016.
** GENWORTH FINANCIAL INC, $7.93, +7.45 pct
Brokerage Raymond James raised rating on the life and mortgage insurer’s stock to “strong buy” from “outperform”. “We believe there are a number of avenues open to the company to recognize value, including a breakup of the company,” analyst wrote in a note.
** GILEAD SCIENCES INC, $100.45, -1.80 pct
The biotech company said nine patients taking its hepatitis C drugs along with heart treatment amiodarone developed abnormally slow heartbeats and one died of cardiac arrest, Bloomberg reported on Saturday. Harvoni generated $2.11 billion in sales in the fourth quarter of last year, and Sovaldi brought in $1.73 billion, together contributing more than half of Gilead's revenue of $7.31 billion. (bloom.bg/1Ftj00n)
** KANSAS CITY SOUTHERN, $106.95, -7.55 pct
The company cut its full-year revenue forecast to “low-single digit” percentage growth from “mid-single digit” due to lower carload growth, primarily from the energy sector.
** KAMADA LTD, $4.51, +6.12 pct
The Israel-based drugmaker’s treatment for Graft-versus-host disease gets orphan drug status from European Medicines Agency. The disease is a complication of high dose cancer treatment and may occur after a stem cell or a bone marrow transplant
** OCWEN FINANCIAL CORP, $8.88, +4.23 pct
The mortgage servicer rejected allegations of poor mortgage servicing practices and said on Monday that it had sent a letter to trustees of 119 mortgage pools, arguing that it should not be removed as a servicer.
** CLIFFS NATURAL RESOURCES INC, $4.67, +4.23 pct
The coal and iron ore miner said it would sell its chromite assets in Canada to Norton Resources Ltd for about $20 million.
** STAPLES INC, $16.87, +3.82 pct
UBS raises rating on the office supplies retailer’s stock to “buy” from “neutral,” and raises price target to $20 from $18. “The market is only assigning a 35 percent likelihood to the deal’s success. Based on our discussions with FTC experts and large enterprise office supplies customers, we think a more realistic probability is about 65 pct,” analyst Michael Lasser wrote in a note.
** CARNIVAL CORP, $46.09, -1.69 pct
Deutsche Bank cuts rating on the cruise operator’s stock to “hold” from “buy”. “... Recent significant moves in Euro and GBP (pound) foreign exchange could result in FY15 EPS guidance being reduced about 8 percent ...,” analysts wrote in a note.
** LULULEMON ATHLETICA INC, $63.4626, -3.46 pct
Canaccord Genuity cuts price target on the company’s stock to $55 from $58, saying a weak start to the year will lead to “cautious orders and subsequently cautious guidance” by the company.
** MONSANTO CO, $112.54, -2.77 pct
The WHO’s cancer arm, the International Agency for Research on Cancer, said glyphosate, the active ingredient in the company’s herbicide Roundup, was “classified as probably carcinogenic to humans”.
** DRDGOLD LTD, $1.71, +8.23 pct
** ALAMOS GOLD INC, $6.69, +7.04 pct
** PRIMERO MINING CORP, $3.68, +5.75 pct
** BARRICK GOLD CORP, $11.31, +1.89 pct
** FIRST MAJESTIC SILVER CORP, $6.06, +7.64 pct
** ENDEAVOUR SILVER CORP, $2.215, +7.52 pct
** FORTUNA SILVER MINES INC, $4.09, +8.78 pct
Shares of gold and silver miners up after gold firmed on Monday, following a three-day rally that pushed it to its highest in two weeks. (Compiled By Manya Venkatesh in Bengaluru; Edited by Don Sebastian)