February 23, 2016 / 12:46 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Western Digital, Valeant, Fitbit

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U.S. stock index futures turned lower on Tuesday as a rally in oil and other commodities ended, dashing hopes of a sustained recovery from this year’s brutal selloff: Dow Jones industrial average futures were up 0.05 percent at 16,547, S&P 500 futures were down 0.04 percent at 1,935.5 and Nasdaq 100 futures were down 0.16 percent at 4,208.

WESTERN DIGITAL CORP, Monday close $46.1, -6.62 pct premarket

The hard-disk maker said a unit of China’s Unisplendour Corp Ltd terminated a deal to take a 15 percent stake in the company after a decision by the Committee on Foreign Investment in the United States (CFIUS) to conduct an investigation.

** UNITED TECHNOLOGIES CORP, Monday close $92.37, -0.94 pct premarket

** HONEYWELL INTERNATIONAL INC, Monday close $105.17, +0.08 pct premarket

United Technologies on Monday disclosed merger talks with fellow aerospace component supplier Honeywell but said a deal would “face insurmountable regulatory obstacles.”

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, Monday close $75.92, +4.49 pct premarket

The Canadian drugmaker said it would restate its financial results for 2014 and 2015 after identifying some sales to Philidor that should have been recognized when products were dispensed to patients.

** HOME DEPOT INC, Monday close $122.85, +3.05 pct premarket

The No. 1 U.S. home improvement chain reported a 9.5 percent rise in quarterly sales, helped by a recovery in the housing market.

** FITBIT INC, Monday close $16.52, -14.95 pct premarket

The company’s current-quarter profit forecast missed Wall Street estimates by a wide margin, as the wearable fitness device maker aggressively invests in new products, sending its shares down more than 16 percent in after-hours trading.

** TOLL BROTHERS INC, Monday close $26.03

The largest U.S. luxury homebuilder reported a higher-than-expected 8.8 percent rise in quarterly revenue, as it sold homes at higher prices, and said it was optimistic about the spring selling season.

** ORACLE CORP, Monday close $37.11

The business software maker, which is seeking to expand its cloud business, has agreed to buy Israeli cloud software company Ravello Systems, the two firms said on their websites on Tuesday. (Compiled by Anya George Tharakan in Bengaluru; Editing by Anil D’Silva)

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