March 15, 2016 / 1:18 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Valeant, Alere, Apple, Mead Johnson, Linn

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter,; for the Morning News Call newsletter, U.S. stock index futures were lower on Tuesday as the Bank of Japan's gloomy view about the Japanese economy troubled investors ahead of the U.S. Federal Reserve's two-day policy meeting. Dow Jones industrial average futures were down 0.46 percent at 17,142, S&P 500 futures were down 0.52 percent at 2,008.25 and Nasdaq 100 futures were down 0.32 percent at 4,352.

** APPLE INC, Monday close $102.52, +1.75 pct premarket

Morgan Stanley raised its estimate for the company’s first-quarter iPhone unit sales to 56.5 million from previous estimate of 49 million. The iPhone maker said China delivering strongest growth.

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, Monday close $69.04, -19.18 pct premarket

The Canadian drugmaker cut its revenue forecast for the year by about 12 percent, or $1.5 billion, citing slower growth in its U.S. dermatology, gastrointestinal and women’s health businesses.

** ALERE INC, Monday close $53.46, -6.10 pct premarket

The diagnostics company, which has agreed to be acquired by Abbott Laboratories, said it had received a grand jury subpoena from the U.S. Department of Justice seeking documents relating to its sales practices in Africa, Asia and Latin America.

** OUTERWALL INC, Monday close $34.39, +12.68 pct premarket

The Redbox DVD rental kiosk owner is to explore strategic and financial alternatives, nearly a month after its second-largest shareholder, Engaged Capital LlC, urged the company to explore strategic options, including taking it private.

** DSW INC, Monday close $27.49, +8.77 pct premarket

The footwear and accessories retailer reported its fourth-quarter revenue above analysts’ average estimate, helped by increased promotions.

** MEAD JOHNSON NUTRITUION CO, Monday close $75.44, +10.68 pct premarket

The Enfamil baby formula maker has engaged Lazard, M&A blog Betaville said. The company was talked about before as a takeover target, possibly for Danone.

** CELATOR PHARMACEUTICALS INC, Monday close $1.68, +413.69 pct premarket

The drug developer’s experimental drug showed statistically significant improvement in overall survival rates in myeloid leukemia patients in a late-stage study.

** LINN ENERGY LLC, Monday close $0.9797, -23.44 pct premarket

** LINNCO LLC, Monday close $0.6691, -22.28 pct premarket

Struggling oil and gas producer Linn said a Chapter 11 bankruptcy filing may be “unavoidable”. The company said that there was substantial doubt about its ability to continue as a “going concern” after it decided to skip an interest payment on some senior notes.

** IMMUNOMEDICS INC, Monday close $2.65, -10.57 pct premarket

The drug developer said it will terminate late-stage trial of its pancreatic cancer drug after it did not show sufficient improvement in overall survival in an interim analysis.

** TERRAVIA INC, Monday close $1.9, +34.74 pct premarket

The renewable oils and bioproducts maker signed multi-year supply agreement with Unilever .

** 3D SYSTEMS CORP, Monday close $14.45, -4.64 pct premarket

JP Morgan cut the 3D printer maker’s stock rating to “underweight” from “neutral”. The company’s fourth-quarter revenue was boosted by healthcare and industrial orders as well as higher service revenue but it said “market conditions remain challenging and uncertain”.

** CHILDREN’S PLACE INC, Monday close $70.68, +5.40 pct premarket

The children’s apparel retailer’s fourth-quarter profit and sales beat estimates, helped by strength in its wholesale and international businesses.

** BLACK DIAMOND INC, Monday close $4.67, +14.56 pct premarket

The adventure sports equipment maker reported quarterly adjusted profit of 2 cents per share from continuing operations, excluding items, versus average analyst estimate of a loss of 1 cent, according to Thomson Reuters I/B/E/S.

** BHP BILLITON LTD, Monday close $26.85, -6.22 pct premarket

** RIO TINTO PLC, Monday close $28.74, -4.63 pct premarket

Lead miners’ shares fell after their peer Antofagasta Plc said it will not pay a final dividend.

** ENERGY XXI LTD, Monday close $0.7014, +18.33 pct premarket

The U.S. oil and gas producer said it had delayed paying the interest due on the debt of one of its subsidiaries as it continues to work with advisers to slash debt.

** OREXIGEN THERAPEUTICS INC, Monday close $0.7, +17.14 pct premarket

The drugmaker said it agreed to buy the U.S. rights to its flagship obesity drug from partner Takeda Pharmaceutical Co Ltd and will tap Canada’s Valeant Pharmaceutical International Inc to sell the pill in parts of Europe. (Compiled by Arunima Banerjee in Bengaluru; Edited by Don Sebastian)

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