May 12, 2015 / 12:43 PM / in 3 years

BUZZ-U.S. STOCKS ON THE MOVE-AOL, Pall, Gap, NewLink Genetics

(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 index e-mini futures fell sharply on Tuesday as a global bond sell-off and continuing worries on Greece's perilous financial situation weighed on the market: Dow Jones industrial average futures were down 0.70 percent at 17,915, S&P 500 futures were down 0.63 percent at 2,084.5 and Nasdaq 100 futures were down 0.81 percent at 4,395.5.

** AOL INC, Monday close $42.59, +18.06 pct premarket

** VERIZON COMMUNICATIONS INC, Monday close $49.8, -0.94 pct premarket

Verizon said it would buy AOL in a $4.4 billion deal that gives the biggest U.S. wireless carrier access to AOL’s successful digital advertising service and content including the Huffington Post news website.

** PALL CORP, Monday close $99.31, +20.83 pct premarket

The water and air filter maker is in the final stages of an auction that could value the company at more than $10 billion, the Wall Street Journal reported on Monday.

** RACKSPACE HOSTING INC, Monday close $53.13, -14.57 pct premarket

The Web hosting company forecast current-quarter revenue below analysts’ expectations and said a strong dollar hurt its revenue growth in the first quarter.

CLSA cut its rating on the company’s stock to “outperform” from “buy”. Morgan Stanley cut its rating to “equal-weight”, according to Benzinga.com. At least four brokerages cut their price targets on the stock by as much as $5 to as low as $50.

** THRESHOLD PHARMACEUTICALS INC, Monday close $3.76, +16.49 pct premarket

The U.S. Food and Drug Administration granted fast-track status to an experimental pancreatic cancer drug developed by the company and Merck KGaA. Merck licensed the drug, evofosfamide, from Threshold in 2012.

** NEWLINK GENETICS CORP, Monday close $52.14, -20.58 pct premarket

The drug developer said it would continue a late-stage study on a pancreatic cancer drug as planned, but the company did not disclose data on the main goal of the study.

NewLink had said in February that it could file for a marketing approval if interim data showed an improvement in overall survival rate. As the trial was not stopped at the interim level, investors would assume it as a failed one, Cantor Fitzgerald said, adding that the main goal of overall survival is still achievable.

** STMICROELECTRONICS NV, Monday close $7.76, +5.28 pct premarket

The European semiconductor maker said on Tuesday that it expected second-quarter revenue to grow about 3.5 percent, squarely in the middle of the guidance the company issued two weeks ago.

** APPLE INC, Monday close $126.32, -0.51 pct premarket

** MICROSOFT CORP, Monday close $47.37, -0.99 pct premarket

Australia has proposed new legislation to tighten tax loopholes that the conservative government says have allowed around 30 of the world’s largest multinational companies to avoid paying taxes. With the new measures, Australia will join Britain in leading a crackdown on companies such as Google Inc , Apple and Microsoft, focusing on their alleged shifting of profits from high-tax countries to low or no tax regimes.

Separately, Apple is in talks with Chinese banks and Alibaba Group Holding Ltd on launching the firm’s mobile payments system in China, Chief Executive Tim Cook told the official Xinhua news agency in an interview published on Tuesday.

** GOOGLE INC, Monday close $545.78, -0.53 pct premarket

The internet search company’s self-driving cars have been involved in 11 accidents, but have not been the cause of any, over the last six years since the project began, the program’s director said on Monday.

** EXXONMOBIL CORP, Monday close $86.78, -0.05 pct premarket

The oil producer has begun ramping up production at a new Indonesian oilfield, targeting peak output later this year of more than 200,000 barrels per day that will add to an already oversupplied crude market.

** GENERAL ELECTRIC CO, Monday close $26.92, -0.56 pct premarket

European Union antitrust regulators have resumed their investigation into General Electric’s 12.4-billion-euro ($13.97 billion) bid for Alstom’s energy unit after receiving requested data from the U.S. conglomerate.

** GAP INC, Monday close $39.87, -3.44 pct premarket

The apparel retailer’s first-quarter net sales fell 3 percent as a stronger dollar reduced the value of sales from markets outside the United States.

** PLASMATECH BIOPHARMACEUTICALS INC, Monday close $9.8, -6.53 pct premarket

The drug developer said it raised $10 million through equity financing to develop rare disease programs.

** BHP BILLITON LTD, Monday close $51.09, +0.80 pct premarket

The world’s largest mining company said on Tuesday that it would slash its iron ore production cost further and cut spending to better withstand a downturn in commodity prices.

** DUPONT, Monday close $75.4

Nelson Peltz, activist investor and principal of hedge fund Trian Fund Management, told CNBC on Monday that the prospects for a last-minute settlement with DuPont in a proxy battle were “dim”.

** METLIFE INC, Monday close $53.3

The U.S. government said on Monday that MetLife’s lawsuit fighting its designation as being systemically important to the economy, often referred to as “too big to fail”, should be dismissed.

** ENCANA CORP, Monday close $13.87, -0.36 pct premarket

The Canadian largest natural gas producer reported a 98 percent drop in quarterly operating profit, hurt mainly by a steep drop in oil and natural gas prices. (Compiled by Anet Josline Pinto in Bengaluru; Editing by Kirti Pandey)

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