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Wall Street was lower on Tuesday, led by a slide in financial stocks, as the outlook for interest rates remained cloudy and oil hovered near one-month lows. The Dow Jones industrial average was down 0.33 percent at 17,678.28, the S&P 500 was down 0.65 percent at 2,052.73 and the Nasdaq Composite was down 0.43 percent at 4,870.58.
** ALLERGAN PLC, $232.41, -16.26 pct
** PFIZER INC, $30.785, +0.21 pct
The U.S. Treasury Department took new steps to curb tax-avoiding corporate “inversions,” with the pending $160 billion merger of Pfizer and Allergan seen as a potential casualty.
** MARVELL TECHNOLOGY GROUP LTD, $10.665, +10.86 pct
The chipmaker’s chief executive and president are stepping down, two months after activist investor Starboard Value LP disclosed a stake in the chipmaker and said its shares were undervalued.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $28.73, +10.03 pct
The drugmaker said a board committee had completed a review of the company’s accounting practices and had not found any new items that would require additional restatements.
** INTERCEPT PHARMACEUTICALS INC, $158.3, +18.53 pct
The U.S. Food and Drug Administration’s staff reviewers supported the use of the drug developer’s liver drug as monotherapy in patients who did not respond to standard-of-care treatment.
** PARSLEY ENERGY INC, $22.12, -1.91 pct
Permian Basin-focused oil and gas company raised $391 million from a share offering, which was priced at a 5.1 percent discount to the stock’s Monday close.
** TWITTER INC, $17.16, +0.41 pct
The National Football League said it had chosen Twitter as its exclusive global partner for streaming its Thursday night games during the 2016 regular season.
** DARDEN RESTAURANTS INC, $65.04, -3.42 pct
The owner of the Olive Garden chain said Jeffrey Smith, head of activist investor Starboard Value LP, has resigned as its chairman.
** WALGREENS BOOTS ALLIANCE INC, $83.72, -3.00 pct
The largest U.S. drugstore chain operator, which has offered to buy smaller rival Rite Aid Corp, reported quarterly net sales that missed analysts’ estimates, hurt by a weak flu season and low reimbursement rates.
** WALT DISNEY CO, $96.99, -1.71 pct
Tom Staggs, the veteran Walt Disney executive who had been widely seen as the media company’s next CEO, will step down on May 6 as the board expands its search for a successor to Bob Iger, Disney said.
** BOEING CO, $127.76, +1.12 pct
Plane maker Boeing said it had picked a new aircraft seat supplier for its most popular jet, the 737, a move that industry experts said adds competition to leading seat makers Zodiac Aerospace and B/E Aerospace.
** CREDIT SUISSE GROUP AG, $13.49, -3.64 pct
** HSBC HOLDINGS PLC, $29.77, -3.31 pct
Credit Suisse and HSBC, two of the world’s largest wealth managers, dismissed suggestions they were actively using offshore structures to help clients cheat on their taxes.
** NEWMONT MINING CORP, $26.91, +2.32 pct
An Indonesian group, including prominent businessman Arifin Panigoro, has agreed to buy a controlling stake in Newmont Mining’s local metals operations in a deal that industry insiders say could reach $2 billion. (Compiled by Kshitiz Goliya in Bengaluru; Editing by Anil D‘Silva)