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Wall Street was little changed on Monday as a fall in oil prices hit materials stocks, offsetting a rise in healthcare shares. The Dow Jones industrial average was up 0.04 percent at 17,800.15, the S&P 500 was up 0.02 percent at 2,073.19 and the Nasdaq Composite was up 0.04 percent at 4,916.649.
** VIRGIN AMERICA INC, $54.505, +40.12 pct
** ALASKA AIR GROUP INC, $78.7, -4.04 pct
U.S. airline Alaska Air Group said it had agreed to buy Virgin America for $2.6 billion to expand its presence on the U.S. West Coast. Alaska’s offer of $57 per share in cash represents a premium of about 47 percent to Virgin’s Friday’s close.
** TESLA MOTORS INC, $246.3355, +3.68 pct
The electric car maker said orders for its new Model 3 electric sedan topped 253,000 in the first 36 hours — a fast start for the company’s first mass-market vehicle, which may not begin to reach customers for another 18 months or more.
** SUNEDISON INC, $0.243, -43.49 pct
** TERRAFORM GLOBAL INC, $2.25, -3.85 pct
India’s Adani Group is considering buying the local assets of troubled U.S. solar energy company SunEdison, two sources aware of the matter told Reuters.
TerraForm Global, a unit of SunEdison, said its lenders had agreed to give the company another month to file its annual report, after if it missed the March 30 deadline.
** RUCKUS WIRELESS INC, $12.98, +29.80 pct
** BROCADE COMMUNICATIONS SYSTEMS INC, $8.98, -15.60 pct
Network gear maker Brocade Communications Systems said on Monday it would buy Ruckus Wireless in a cash and stock deal worth about $1.5 billion.
** SMITH & WESSON HOLDING CORP, $23.59, -15.02 pct
Cowen & Co cut its rating on the gun maker’s stock to “market perform” from “outperform”.
** EDWARDS LIFESCIENCES CORP, $105.19, +16.98 pct
A study showed a less-invasive heart valve implant was superior to open surgery, prompting a slew of brokerages to raise their ratings on the company’s stock.
** PULTEGROUP INC, $17.36, -5.75 pct
The U.S. homebuilder said Chief Executive Richard Dugas would retire effective May 2017, bowing to a demand from founder and Chairman Emeritus Bill Pulte.
** XBIOTECH INC, $9.7675, +3.25 pct
The biotechnology company’s antibody treatment for advanced colorectal cancer received an accelerated review status from European health regulator. EU decision could come as early as third quarter, according to the company.
** PROGENICS PHARMACEUTICALS INC, $4.25, -3.63 pct
FDA extended decision date for the company’s drug Oral Relistor, a treatment for opioid-induced constipation, to July 19 from April 16. Progenics is co-developing the drug with Valeant Pharmaceuticals International Inc.
** BIOLINERX LTD, $1, +1.17 pct
The Israeli biotechnology company said its partner, Omega Pharma, now a unit of Perrigo Plc, received approval in the European Union for their skin device.
** ZAFGEN INC, $7.39, +10.30 pct
The obesity drug developer said drug for Prader-Willi Syndrome showed improvement in cholesterol levels and cardio metabolic risk factors, and a reduction in fat mass when compared to a placebo. (Compiled by Kshitiz Goliya in Bengaluru; Editing by Anil D’Silva)