(Corrects Annaly Capital’s stock price in item number 2)
Wall Street was higher on Monday as investors braced for corporate earnings season, with Alcoa set to post first-quarter results after the market closes. The Dow Jones industrial average was up 0.64 percent at 17,689.99, the S&P 500 was up 0.54 percent at 2,058.62 and the Nasdaq Composite was up 0.76 percent at 4,887.365.
** CHESAPEAKE ENERGY CORP, $4.22, +12.23 pct
U.S. natural gas producers said its borrowing limit was reaffirmed at $4 billion, at a time when most oil and gas producers are bracing for steep cuts to their credit lines.
** HATTERAS FINANCIAL CORP $15.68, +9.96 pct
** ANNALY CAPITAL MANAGEMENT INC $10.29, -1.15 pct
Annaly Capital Management will acquire Hatteras Financial Corp for $1.5 bln in cash and stock.
** HERTZ GLOBAL HOLDINGS INC $9.14, -5.77 pct
** AVIS BUDGET GROUP INC $23.66, -4.21 pct
Hertz said it expected first-quarter and full-year car rental revenue to be lower than previously forecast due to excess industry (fleet) capacity.
** NATIONAL OILWELL VARCO INC > $27.42, -5.81 pct
The largest U.S. oilfield equipment maker said it would cut its quarterly dividend to 5 cents per share from 46 cents, as it struggles to cope with a prolonged slump in oil prices.
** NORFOLK SOUTHERN CORP $80.5, -1.21 pct
** CANADIAN PACIFIC RAILROAD LTD $140.08, +3.92 pct
The number 2 Canadian railroad company said it had scrapped efforts to buy Norfolk, almost six months after it launched its unsolicited $28 billion bid for the fourth-largest U.S. railroad operator.
** YAHOO INC YHOO.O $36.61, +1.50 pct Britain’s Daily Mail is in talks with potential partners to mount a joint bid for the company’s internet assets, eyeing a plan to buy the troubled U.S. Internet pioneer to help boost advertising revenues from the Mail’s globally popular online news site.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $33.06, -1.81 pct
The Canadian drugmaker said it had asked outgoing Chief Executive Michael Pearson to cooperate with the U.S. Senate Committee on Aging after he failed to show up at a hearing on Friday.
** SYNERGY RESOURCES CORP $7.81, -7.13 pct The oil and gas producer is set to price its second follow-on offering of this year prior to market open. Offering represents about 15 percent of 126.2 million shares outstanding as of March end.
** TRANSCANADA CORP, $39.23, +1.42 pct The Canada’s second-largest pipeline operator on Sunday said it had restarted the 590,000- barrel-per-day Keystone crude pipeline at reduced pressure after it received American authorization to do so.
** NOBLE ENERGY INC, $32.22, +1.45 pct The Texas-based company is in talks with Israeli institutions to sell an 11 percent stake in Israel’s Tamar natural gas field for at least $1 billion due to cash flow needs, Israeli media reported on Sunday.
** GENERAL MOTORS CO, $29.82, +1.53 pct The U.S. automaker settled another ignition-switch case after the plaintiff and the U.S. automaker agreed to a voluntary dismissal, according to a court filing. (Reporting by Vishaka George in Bengaluru; Editing by Anil D’Silva)