(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 were lower on Monday after an increased selloff in Shanghai shares sparked concerns over China's slowing growth. The Dow Jones industrial average was down 0.85 percent at 17,419.34, the S&P 500 was down 0.60 percent at 2,067.07 and the Nasdaq Composite was down 0.97 percent at 5,039.439.
** ALIBABA GROUP HOLDING LTD, $81.3, -2.07 pct
** SOHU.COM INC, $42.8, -4.21 pct
** BAIDU INC, $197.28, -4.35 pct
** JD.COM INC, $32.1599, -7.16 pct
** YY INC, $57.84, -3.44 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.
** TEVA PHARMACEUTICAL INDUSTRIES LTD, $69.15, +11.80 pct
** ALLERGAN PLC, $330.04, +7.08 pct
** MYLAN NV, $56.28, -14.65 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.
Allergan CEO Brent Saunders said on Monday the company will use the $36 billion it nets from the sale of its generics business to Teva for more deals, including large, “transformational” merger opportunities.
** BELLEROPHON THERAPEUTICS INC, $2.982, -61.02 pct
** BIOLINERX LTD, $1.6701, -21.22 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.
** REPUBLIC AIRWAYS HOLDINGS INC, $3.63, -57.29 pct
Company rescinded previously issued financial and operational forecast for 2015, as it continues to suffer from ongoing labour dispute and a pilot shortage. The company also said it is anticipating fleet reductions in the future.
** MAGNETEK INC, $49.5, +53.49 pct
Rigging tools and crane maker Columbus McKinnon Corp agreed to buy the digital power and motion control systems provider for $188.9 million.
** AEGERION PHARMACEUTICALS INC, $18.45, +5.43 pct
The biopharmaceutical company announced the resignation of chief executive Marc Beer and chief operating officer Craig Fraser, effective immediately. The company also reported better-than-expected sales for the second quarter.
** WHITE MOUNTAINS INSURANCE GROUP LTD, $697.5, +3.29 pct
The Bermuda-based insurer is selling property and casualty reinsurer Sirius International Insurance Group Ltd to a Singapore-based unit of China Minsheng Investment Corp Ltd for about $2.24 billion in cash.
** XUEDA EDUCATION GROUP, $4.83, +50.47 pct
Xiamen Insight Investment Co Ltd offered to take the Chinese tutoring services provider private for $5.50 per share.
** SFX ENTERTAINMENT INC, $3.4, -11.92 pct
The rave promoter said its “go-shop” period, set with affiliate of Chief Executive Robert Sillerman, expired on Friday. The company said no third party contacted by its financial advisor Moelis & Co made any alternate offer.
** A.M. CASTLE & CO, $3.41, -13.01 pct
Barnes & Noble Education Inc will replace the specialty plastics distributor in the S&P SmallCap 600 index.
** NYMOX PHARMACEUTICAL CORP, $2.76, +117.32 pct
The drugmaker said its experimental drug to treat prostate enlargement had hit main goals of extended late-stage studies.
** CELATOR PHARMACEUTICALS INC, $2.4365, +13.33 pct
Roth Capital raises price target on the drug developer’s stock to $18 from $15. Analysts said company’s experimental cancer treatment, Vyxeos, represented “the first potential meaningful improvement to treating AML in decades”.
** ENANTA PHARMA INC, $48.024, +6.27 pct
The FDA on Friday cleared AbbVie Inc’s Technivie, which targets infections from hepatitis C virus (HCV) genotype 4 and contains the drug developer Enanta’s lead protease inhibitor, paritaprevir
** MEDICINOVA INC, $4.05, +15.38 pct
The drug developer said U.S. FDA had approved a second protocol for a clinical study to test its drug that treats fatty liver disease, or Nonalcoholic Steatohepatitis (NASH).
** TEREX CORP, $20.78, -3.30 pct
** NAVISTAR INTERNATIONAL CORP, $17.14, -2.94 pct
** MANITOWOC CO INC, $16.53, -3.33 pct
Goldman Sachs cut its rating on the U.S. machinery makers to “cautious” from “neutral”, citing an extended machinery downturn across commodity exporting countries, where capital stock is high and infrastructure investment is slowing off peak
** STERLING CONSTRUCTION CO INC, $4.57, +7.91 pct
The onstruction material supplier won a $26.3 million project to replace conventional toll collection facilities with automated “toll tag” facilities in Houston.
** ROPER TECHNOLOGIES INC, $163.68, -4.90 pct
The IT services provider cut its 2015 profit forecast to $6.61-$6.75 per share from $6.75-$6.95 due to difficult conditions in energy-related markets.
** GRUBHUB, $30.55, -9.59 pct
Cowen’s cut its rating on the the online food delivery service company. Analyst Kevin Kopelman said GrubHub’s first mover advantage was eroding as startups raised “unprecedented” capital.
** OFG BANCORP, $8.86, +3.50 pct
** FIRST BANCORP, $4.52, +1.35 pct
** POPULAR INC, $31.015, -0.02 pct
Guggenheim Securities LLC upgraded its rating on the the Puerto Rico-focused lenders’ stocks to “buy” from “neutral”. Analysts said, “We are upgrading all three because we believe the sell-off presents an attractive risk/reward profile for bank investors”.
** CLEAN HARBORS INC, $45.95, -8.79 pct
Raymond James cut its rating on the waste management company’s shares to “market perform” from “outperform”, citing lower oil prices and the strong dollar
** FIRST MAJESTIC SILVER CORP, $3.19, -11.14 pct
The Canadian silver producer said it would buy SilverCrest Mines for C$1.30 per share. First Majestic’s offer represents a permium of 35.4 percent to SilverCrest’s Friday close of C$0.96.
** WABTEC CORP, $97.64, +6.90 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, $32.33, +7.48 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.
** RESTAURANT BRANDS INTERNATIONAL INC, $41.02, +2.32 pct
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.
** FIAT CHRYSLER AUTOMOBILES NV, $14.305, -5.58 pct
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, $94.4381, -2.59 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, $6.46, -8.89 pct
** PETROLEO BRASILEIRO SA, $6.33, -4.81 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.
** CREDIT SUISSE GROUP AG, $30, -2.02 pct
New York Attorney General Eric Schneiderman’s office is preparing a civil case against Credit Suisse Group AG, the operator of the Crossfinder dark pool, that could be announced in the coming weeks, the Fox Business network reported.
** GOLDMAN SACHS GROUP INC, $204.29, -1.48 pct
A Goldman Sachs Group Inc unit must pay $1.8 million for not reporting “substantial” details about its alternative trading system orders to a system that tracks that information, and also for other lapses, Wall Street’s industry-funded watchdog said. (Compiled by Ankit Ajmera in Bengaluru; Edited by Don Sebastian)