October 26, 2015 / 3:36 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-AK Steel, LendingTree, Kinder Morgan

(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 in trading on Monday ahead of this week's Federal Reserve policy meeting and as Apple shares fell a day before it reports quarterly results. The Dow Jones industrial average was down 0.18 percent at 17,614.56, the S&P 500 was down 0.28 percent at 2,069.34 and the Nasdaq Composite was up 0.02 percent at 5,033.086.


The Canadian drugmaker laid out a detailed defense of its relationship with a little-known specialty pharmacy, but its arguments failed to calm all investors’ concerns.

Toronto-listed stock down 1.74 pct at C$150.41.

TAKE A LOOK-Valeant’s rough week in the markets

** KINDER MORGAN INC, $28.045, -4.05 pct

The pipeline operator commenced an underwritten convertible offering scheduled to price after markets close.


The exchange operator said it would buy financial data firm Interactive Data Corp from investment firms Silver Lake and Warburg Pincus LLC in a deal valued at about $5.2 billion.

** CTRIP.COM INTERNATIONAL LTD, $90.43, +21.64 pct

** QUNAR CAYMAN ISLANDS LTD, $44.75, +13.23 pct

** BAIDU INC, $168.2, +6.73 pct

Chinese online travel company Ctrip.com International announced a tie-up with rival Qunar Cayman Islands and its backer Baidu through a share swap.

** LENDINGTREE INC, $121.17, +23.64 pct

The online lender’s revenue jumped a better-than-expected 69 percent and raised its revenue, profit forecast for full-year 2015 and 2016.

** PEP BOYS - MANNY, MOE & JACK, $14.98, +23.29 pct

Japanese tire maker Bridgestone Corp said it would buy the auto parts retailer for $835 million in cash to expand its presence in the United States.

The $15-per-share deal represents a premium of 23.5 percent to Pep Boys’ Friday closing price of $12.15.


The company said the U.S. Food and Drug Administration had approved its opioid treatment for chronic pain. Endo International Plc licensed the worldwide manufacturing and marketing rights to the treatment, Belbuca, from BioDelivery in 2012.

** CANADIAN SOLAR INC, $22.229, +7.49 pct

The solar company said it now expects total revenue of $805 million-$815 million for the third quarter, up from $570 million -$620 million it forecast earlier.

** NORTHERN TIER ENERGY LP, $26.27, +8.42 pct

** WESTERN REFINING INC, $41.86, -0.95 pct

Oil refiner Western Refining offered to buy the shares of Northern Tier Energy it did not already own in a deal that values the refiner at about $2.52 billion. Western Refining has offered $17.50 in cash and 0.2266 of its share for each Northern Tier unit.

** PIEDMONT NATURAL GAS CO, $58.31, +38.11 pct

** DUKE ENERGY CORP, $71.86, -2.55 pct

Duke Energy, the largest U.S. power company by generation capacity, said it would buy natural gas distributor Piedmont Natural Gas Co for $4.9 billion in cash.

** TYSON FOODS, $45.18, -4.76 pct

JP Morgan chops the biggest U.S. meat processor’s stock off its ‘analyst focus list’.

** AK STEEL HOLDING, $2.39, -10.15 pct

Analysts at BofA Merrill Lynch downgrades to “underperform” from “neutral”, less than two months after lowering to “neutral” from “buy”.

** WHOLE FOODS MARKET INC, $30.82, -4.52 pct

Analysts at Cowen & Co cut price target to $35 from $40, saying they remained concerned about the impact of competitive pressure and produce-deflation on results.

** JAKKS PACIFIC INC, $8.18, -6.19 pct

The maker of Dragon Ball Z and Pokemon toys’ third-quarter sales missed analysts’ estimate, hurt by lower sales in its role-play, novelty and seasonal toys business.

Reporting by Rosmi Shaji in Bengaluru; Editing by Sriraj Kalluvila

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