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U.S. stocks were largely unchanged on Monday in muted trading, with gains in healthcare shares offsetting a fall in consumer stocks. The Dow Jones industrial average was down 0.16 percent at 17,764.6, the S&P 500 was down 0.25 percent at 2,067.65 and the Nasdaq Composite was down 0.34 percent at 4,897.646.
** VIRGIN AMERICA INC, $55.07, +41.57 pct
** ALASKA AIR GROUP INC, $77.71, -5.24 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, $247.48, +4.16 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, $0.2247, -47.74 pct
** TERRAFORM GLOBAL INC, $2.275, -2.78 pct
Terraform Global sued its parent, SunEdison, for breach of contract, alleging the struggling renewable energy company misappropriated $231 million of Terraform’s cash, according to a lawsuit filed in a Delaware court.
** RUCKUS WIRELESS INC, $13.05, +30.50 pct
** BROCADE COMMUNICATIONS SYSTEMS INC, $9.015, -15.27 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.
** NATUS MEDICAL INC, $32.77, -17.33 pct
The medical device maker cut its first-quarter revenue forecast.
** IRADIMED CORP, $16.41, -15.24 pct
The medical device maker said the U.S. FDA rejected its MRI-compatible infusion pump, but it plannned to appeal decision.
** GROUPON INC, $4.415, +12.63 pct
The daily deals website operator said Atairos, an investment firm led by Michael Angelakis, would invest $250 million in the company. Angelakis, who is a former CFO of Comcast, will join Groupon board.
** ANI PHARMACEUTICALS INC, $38.1425, +12.38 pct
The specialty pharmaceutical company raised revenue and adjusted profit outlook for 2016.
** WESTLAKE CHEMICAL CORP, $46.13, -2.97 pct
** AXIALL CORP, $22.7, +2.62 pct
Westlake Chemical said it would seek to replace Axiall Corp’s board, after its raised buyout offer was rejected by the U.S. chemical and building products maker.
** SOUTHWESTERN ENERGY CO, $8.78, +12.42 pct
The oil and natural gas company expanded the maximum amount of secured debt it may incur during second quarter by $232 million. The company also said it repaid $1.55 billion on April 1 that was borrowed under its credit agreement on March 30.
** SMITH & WESSON HOLDING CORP, $23.52, -15.27 pct
Cowen & Co cut its rating on the gun maker’s stock to “market perform” from “outperform”.
** EDWARDS LIFESCIENCES CORP, $105.38, +17.19 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, $16.81, -8.74 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, $9.57, +1.16 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, $4.15, -5.90 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, $1.01, +2.19 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, $7.3, +8.96 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)