(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) Wall Street struggled for gains in volatile trading on Monday, weighed down by healthcare stocks and oil prices hitting fresh 12-year lows, ahead of the start of corporate earnings season. The Dow Jones industrial average was down 0.34 percent at 16,290.64, the S&P 500 was down 0.64 percent at 1,909.74 and the Nasdaq Composite was down 0.95 percent at 4,599.426.
** CELGENE CORP, $101.88, -6.52 pct
The biotech company said it expects 2016 sales at between $10.5 billion and $11 billion, below analysts’ average estimate of $11.14 billion. The company also said negative impact of foreign exchange on net product sales was expected to be about $120 million in 2016.
** MCKESSON CORP, $162.84, -10.72 pct
The drug distributor revised its fiscal 2016 adjusted profit forecast to $12.60-$12.90 per share from $12.50-$13.00, citing weak generic drug pricing in the second half of the year.
** GENVEC INC, $0.667, -61.45 pct
The regenerative drug developer said partner Novartis AG would pause enrollments in a trial testing their experimental gene therapy, CGF166, based on recommendation of a safety monitoring board.
** EXACT SCIENCES, $6.94, -13.03 pct
The diagnostic test maker forecasts fourth-quarter and full-year revenues below analysts’ average estimate.
** NATUS MEDICAL INC, $38.5775, -10.70 pct
The medical device maker cut its fourth-quarter revenue forecast to $100 million from $102-$105 million, saying the prior view included $4 million under a Venezuelan Ministry of Health contract, but a prepayment delay held up product shipments.
** ACORN INTERNATIONAL INC, $8.45, +106.10 pct
The Chinese marketing company said it would buy back up to $2 million of its American depositary shares over the next 12 months.
** BAXALTA INTERNATIONAL INC, $38.97, -2.60 pct
** SHIRE PLC, $169.055, -9.11 pct
Drugmaker Shire clinched its six-month pursuit of Baxalta on Monday by agreeing a $32 billion cash and stock offer that will make it one of the world’s leading rare disease specialists.
Baxalta and Coherus Biosciences Inc also said their experimental biosimilar of Amgen Inc’s arthritis drug Enbrel met the main goal in a late-stage study.
** THERMO FISHER SCIENTIFIC INC, $134.24, +0.06 pct
** AFFYMETRIX INC, $13.735, +49.13 pct
Thermo Fisher, the world’s largest maker of scientific instruments, said it agreed to buy Affymetrix for $1.3 billion in cash, beefing up its genetic analysis products business. Thermo Fisher’s offer of $14 per share represents a rich 52 percent premium to Affymetrix’s Friday close of $9.21.
** KOHL‘S CORP, $50.17, +4.78 pct
The beleaguered department store is said to be debating whether to take itself private, according to a source cited by the Wall Street Journal on Sunday.
** MACY‘S INC, $37.82, +5.38 pct
Hedge fund Starboard Value LP urged the department store chain to enter into joint ventures for its stores, including its flagship Herald Square store in New York, to realize greater value from its real estate assets.
** ANAVEX LIFE SCIENCES CORP, $5.0801, +10.44 pct
The drug developer said analysis showed that higher doses of its Alzheimer’s drug achieved a statistically significant improvement compared to the lower doses, when looking at a standard test of cognition.
** AMERICAN APPAREL INC, $0.0345, +18.97 pct
Hagan Capital Group and Silver Creek Capital Partners said they had jointly offered to acquire the bankrupt teen apparel retailer for $300 million.
** UNDER ARMOUR INC, $68.37, -8.84 pct
Brokerage Morgan Stanley downgraded the sports apparel and accessories maker’s stock to “underweight” and cut its price target to $18 from $21. “UA has more exposure to U.S. apparel, which on the margin looks more challenging than footwear,” Morgan Stanley analysts wrote.
** APPLE INC, $97.98, +1.05 pct
Mizuho Securities upgraded the iPhone maker to “buy” from “neutral”, citing healthy demand for Apple products. “Apple continues to command a healthy eco-system with a large number of loyal customers who are likely to upgrade phones over the next few years,” Mizuho analysts wrote in a note.
** KONA GRILL INC, $16.01, +14.68 pct
The grill and sushi restaurant chain reported a 20.6 percent jump in sales to $38.1 million in the fourth quarter ended Dec. 31, helped by restaurant openings.
** VF CORP, $56.06, -3.71 pct
Brokerages Brean Capital, Morgan Stanley and D.A. Davidson cut their price targets on the sports apparel and footwear maker’s stock by as much as $8 to as low as $58. Morgan Stanley also downgraded to “underweight”. Analysts at Brean Capital wrote that warm weather, weak traffic during the holiday season might lead to lower gross margins in the fourth quarter.
** FREEPORT-MCMORAN INC, $4.495, -16.91 pct
** CLIFFS NATURAL RESOURCES INC, $1.42, -11.80 pct
** TECK RESOURCES LTD, $2.9, -8.23 pct
Copper miners’ shares fall as prices plummet to their lowest in 6-1/2 years over concerns of slowing growth and demand in China. Benchmark copper hit a low of $4,381, levels not seen since May 2009.
** ETSY INC, $7.52, -10.26 pct
Insiders at the craft ecommerce company were allowed to sell stock following the IPO in April. An additional 23.7 million shares became eligible for sale on markets on Monday, according to a filing.
** BRAINSTORM CELL THERAPEUTICS, $2.55, -17.21 pct
TheStreet contributor Adam Feuerstein said the drug developer recycled past study data on its experimental stem cell therapy NurOwn. Feuerstein said the results were unchanged from what was reported by Brainstorm in April. (bit.ly/1Rxbnw8)
** APOLLO EDUCATION GROUP INC, $6.51, -1.21 pct
The for-profit education provider said on Monday it would consider selling itself among other options, a move that comes after years of declines in student enrolments. (Compiled by Abhirup Roy in Bengaluru; Editing by Maju Samuel)