July 27, 2015 / 1:46 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Chinese ADRs, Allergan, Bellerophon

(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 opened lower on Monday after an increased selloff in Shanghai shares sparked concerns over China's slowing growth. The Dow Jones industrial average was down 0.90 percent at 17,411.26, the S&P 500 was down 0.72 percent at 2,064.59 and the Nasdaq Composite was down 1.00 percent at 5,037.774.

** ALIBABA GROUP HOLDING LTD, $79.72, -3.97 pct

** BAOZUN INC, $7.75, -4.67 pct

** SOHU.COM INC, $43.77, -2.04 pct

** BAIDU INC, $198.24, -3.88 pct

** JD.COM INC, $32.89, -5.05 pct

** YY INC, $58.18, -2.87 pct

Chinese shares tumbled more than 8 percent on Monday as an unprecedented government rescue plan to prop up valuations abruptly ran out of steam, throwing the viability of Beijing’s efforts to stave off a deeper crash into doubt.

The China Securities Financial Corporation (CSFC) has returned ahead of schedule some of the funds it borrowed from commercial banks to stabilise the stock market, three people in the banking industry with direct knowledge told Reuters.

** BELLEROPHON THERAPEUTICS INC, $2.8801, -62.35 pct

** BIOLINERX LTD, $1.58, -25.47 pct

The implantable heart device Bioline licensed to Bellerophon failed to prevent heart failure in patients in a large study, casting doubts over the device getting European approval.


** ALLERGAN PLC, $325.51, +5.61 pct

** MYLAN NV, $56.835, -13.81 pct

Teva Pharmaceutical Industries has agreed to buy Allergan’s generic drugs business for $40.5 billion in a deal that will turn Teva into one of the top 10 pharmaceutical companies.

Teva dropped its $40 billion bid for Mylan, which hit a snag when a Dutch foundation linked to Mylan bought temporary control of half the company in an attempt to block the takeover.

** WABTEC CORP, $97, +6.20 pct

The company which makes components for the transport industry said it plans to buy France-based Faiveley Transport S.A. in a cash-and-stock deal valued at $1.8 billion, including debt.

** BEACON ROOFING SUPPLY INC, $33.705, +12.05 pct

The roofing products maker will buy roofing products distributor Roofing Supply Group in a deal valued at about $1.1 billion, to expand in key housing markets of California, Florida and Texas.


The company formed out of Burger King’s takeover of Canadian coffee and doughnut chain Tim Hortons last year reported a better-than-expected quarterly profit on strong sales of its newly launched menu items.


The U.S. auto safety watchdog, toughening its stance against manufacturer defects, announced on Sunday a record $105 million in fines against Fiat Chrysler Automobiles NV over lapses in safety recalls involving millions of vehicles.

** FACEBOOK INC, $95.18, -1.83 pct

The social networking website plans to scale up its service to offer free basic Internet on mobile phones, an executive said, after introducing the application in 17 developing countries over the past year.

** BRASKEM SA, $6.55, -7.62 pct

** PETROLEO BRASILEIRO SA, $6.45, -3.01 pct

Shares of the Brazilian chemical maker Braskem SA plunged on Monday after executives at controlling shareholder Odebrecht SA were charged with corruption on Friday, including for conspiring to defraud state-run oil producer Petroleo Brasileiro SA in a scheme to secure naphtha supplies at favorable rates.

** GOLDMAN SACHS GROUP INC, $204.34, -1.45 pct

Symphony Communication Services LLC, an instant messaging software company backed by Goldman Sachs Group Inc and other finiancial institutions, is seeking additional funding that could value the startup at up to $1 billion, the Wall Street Journal reported on Sunday. (Compiled by Ankit Ajmera in Bengaluru; Edited by Don Sebastian)

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