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U.S. stocks were set to open lower on Monday after weak results from Morgan Stanley added to investor concerns about U.S. corporate health. Dow Jones industrial average futures were down 0.40 percent at 17,046, S&P 500 futures were down 0.43 percent at 2,016.75 and Nasdaq 100 futures were down 0.42 percent at 4,416.
** MORGAN STANLEY, Friday close $33.95, -5.68 pct premarket
The Wall Street bank’s profit slumped for the second straight quarter as investors fled the bond, currency and commodity markets amid uncertainty about the timing of a U.S. interest rate hike and concerns about China’s cooling economy.
** WEIGHT WATCHERS INTERNATIONAL INC, Friday close $6.79, +88.81 pct premarket
Actress and media magnate Oprah Winfrey would buy 10 percent stakwe in the weight management company, join its board and advise the company on programs and products. Winfrey would buy nearly 6.4 million shares for $43.2 million and would also have options to acquire an additional 5 percent stake.
** GENOCEA BIOSCIENCES INC, Friday close $7.23, -27.39 pct premarket
The immunotherapy developer said it would suspend clinical trial after its experimental pneumonia vaccine failed to meet main goal in a mid-stage study.
** MICROSEMI CORP, Friday close $37.36, -3.35 pct premarket
** PMC-SIERRA INC, Friday close $10.24, +13.28 pct premarket
Microsemi offered to buy PMC-Sierra in deal valued at about $2.2 billion, trumping Skyworks Solutions Inc’s offer of $2 billion.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, Friday close $177.56, -2.62 pct premarket
The Canadian drugmaker which is under fire for massive price hikes of its two heart drugs, reported a better-than-expected quarterly profit, boosted mainly by strong performance in its U.S. dermatology business.
** BP PLC, Friday close $35.86, -1.76 pct premarket
The company and China’s CNPC will next week unveil a strategic alliance to develop oil resources in Iraq and other regions, industry sources said on Friday, as Britain and China seek to tighten economic ties.
** ZAFGEN INC, Friday close $10.36, +3.09 pct premarket
U.S. FDA placed partial hold on development of the drug developer’s obesity treatment and confirmed that the patient who died during a late-stage study had been taking the drug, beloranib.
** CAMPUS CREST COMMUNITIES INC, Friday close $5.68, +17.96 pct premarket
The student housing real estate investment trust said it agreed to be bought by privately held Harrison Street Real Estate Capital LLC for $1.9 billion, including debt.
** SCHLUMBERGER LTD, Friday close $74.51, -0.82 pct premarket
The world’s No.1 oilfield services provider said it would cut more jobs and consolidate its manufacturing and distribution network as it did not expect a recovery in demand before 2017.
** JPMORGAN CHASE & CO, Friday close $62.43, -0.50 pct premarket
JPMorgan Chase, Morgan Stanley, and Barclays Plc will pay over half of a more than $1.86 billion settlement resolving investor claims they conspired to fix prices and limit competition in the market for credit default swaps, according to a court filing.
** HASBRO INC, Friday close $77.78, -0.99 pct premarket
The toymaker reported a 15 percent rise in quarterly profit as toys based on “Star Wars” and “Jurassic World” movie series boosted sales of its toys targeted at boys. (Compiled by Manish Parashar in Bengaluru; Editing by Maju Samuel)