(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 recouped some of their losses in afternoon trading on Monday after a sharp fall on worries about Greece's debt, but the Dow Jones Industrial Average remained in negative territory for the year. The Dow Jones industrial average was down 0.72 percent at 17,769.92 and the S&P 500 was down 0.54 percent at 2,082.75.
** AXION POWER INTERNATIONAL INC, $0.1051, +218.48 pct
The lead-carbon battery maker signed a technology development and licensing deal with LCB International Inc, under which LCB will exclusively sell Axion products in China, Taiwan, Macau and Hong Kong.
** NISKA GAS STORAGE PARTNERS LLC, $3.77, +187.79 pct
The natural gas storage company has agreed to be bought by Brookfield Infrastructure and Institutional Partners for about $911.9 million including debt. Brookfield will acquire all of Niska’s outstanding common units for $4.225 per common unit in cash, a premium of 222.5 percent to Niska’s Friday close.
** DEALERTRACK TECHNOLOGIES INC, $62.715, +57.38 pct
Cox Automotive Inc, the owner of Autotrader platform and Kelley Blue Book car valuation service, said it would buy Dealertrack in a deal valued at $4 billion. The $63.25-per-share offer represents a 59 percent premium to Dealertrack’s Friday closing price.
** BIO BLAST PHARMA LTD, $7.22, +25.35 pct
Roth Capital raised price target to $25 from $18, encouraged by the company’s initiation of the late-stage study of its experimental drug in muscular dystrophy. Analysts say Bio Blast’s decision signals the management’s confidence in the drug.
** STANDARD PACIFIC CORP, $8.913, +6.61 pct
** RYLAND GROUP INC, $45.49, +6.31 pct
Standard Pacific and Ryland said they would merge to become the fourth-largest homebuilder in the United States. The merged company would have a market capitalization of about $5.2 billion and an enterprise value of about $8.2 billion and would own or control about 74,000 homesites, the companies said in a statement on Sunday.
** REDHILL BIOPHARMA, $18.848, +14.51 pct
RedHill’s drug, RHB-105, to treat bacterial infection meets main goal in late-stage study and was significantly better than historical standard of care treatment. RHB-105 is one of the most advanced compounds in RedHill’s pipeline to treat H. pylori infection, a major cause of gastric diseases, gastric cancer and a form of blood cancer.
** CIGNA CORP, $153.76, +11.98 pct
** ANTHEM INC, $164.06, +2.08 pct
Health insurer Cigna has rebuffed a takeover offer from larger rival Anthem that valued the company at about $45 billion, the Wall Street Journal reported.
** TRIVASCULAR TECHNOLOGIES INC, $7.35, +6.37 pct
The device maker says the U.S. FDA has approved its Ovation iX stent graft, a device to treat abdominal aortic aneurysms. Aneurysms are balloon-like bulges in wall of blood vessels that could eventually rupture, leading to internal bleeding.
** TWITTER INC, $34.84, -2.95 pct
The company’s next chief executive faces a crucial challenge as the company seeks to appease Wall Street after its management shakeup - helping disaffected advertisers connect with users.
** IDREAMSKY TECHNOLOGY LTD, $13.02, -10.58 pct
The Chinese mobile game distributor gets a preliminary non-binding proposal letter from CEO Michael Xiangyu Chen to buy all outstanding shares.
** IDERA PHARMACEUTICALS INC, $3.72, +4.20 pct
J.P Morgan Securities starts coverage of the stock with an “overweight” rating and $6 price target, and said Idera has “prudently” re-focused its strategic priorities on immuno-oncology products that targets forms of blood cancer.
** AGIOS PHARMACEUTICALS, $100.55, -8.70 pct
Canaccord Genuity cuts its price target to $93 from $103 and keeps “hold” rating on the drug developer’s stock. It expects negative data from tests of the company’s cancer drug, AG-120. Canaccord also removed revenue related to the drug from its estimate.
** ALAMOS GOLD INC, $6.2, +4.73 pct
** AURICO GOLD INC, $3.16, +3.61 pct
** NEWMONT MINING CORP, $24.19, +2.72 pct
** BARRICK GOLD CORP, $11.47, +1.77 pct
** FIRST MAJESTIC SILVER CORP, $5.055, +6.20 pct
Gold miners up amid uncertainty over Greek debt talks. Analysts at Desjardins raise ratings on Alamos, First Majestic and Aurico to “buy” from “hold”.
** MICRON TECHNOLOGY INC, $23.975, -4.60 pct
Morgan Stanley downgrades the chipmaker’s stock to “underweight”, saying the sharp rebound it expected in Micron’s third-quarter earnings is delayed at least until the fourth quarter due to excessive customer inventories, which will also weigh on prices.
** SELECT COMFORT CORP, $29.42, -5.00 pct
** MATTRESS FIRM HOLDING CORP, $57.08, -2.34 pct
Wedbush downgrades the mattress makers’ stocks to “neutral” from “outperform”. The brokerage also cuts Mattress Firm’s price target to $60 from $71.
** TERADATA CORP, $37.33, -3.21 pct
JMP Securities cuts its rating on the data analytics firm’s stock to “market underperform” from “market perform”. The shares touched a near 5-year low of $36.53. (Compiled by Yashaswini Swamynathan in Bengaluru; Edited by Maju Samuel)