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Wall Street gains were driven by materials stocks on Monday as a weaker dollar boosted commodities, and investors turned their focus to the earnings season. The Dow Jones industrial average was up 0.55 percent at 17,673.18, the S&P 500 was up 0.42 percent at 2,056.11 and the Nasdaq Composite was up 0.54 percent at 4,876.672.
** CHESAPEAKE ENERGY CORP, $4.27, +13.56 pct
The U.S. natural gas producer 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 , $15.76, +10.52 pct
** ANNALY CAPITAL MANAGEMENT INC , $10.33, -0.77 pct
Annaly Capital Management will acquire Hatteras Financial Corp for $1.5 bln in cash and stock.
** HERTZ GLOBAL HOLDINGS INC , $8.74, -9.90 pct
** AVIS BUDGET GROUP INC , $22.86, -7.45 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, -1.83 pct
** CANADIAN PACIFIC RAILROAD LTD, $139.98, +3.85 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.
** PHH Corp, $10.44, -16.01 pct
The mortgage lending and car leasing company withdrew its earnings forecast for fiscal year 2016, saying it will not provide another forecast until it finishes reviewing strategic options.
** LIGHTINTHEBOX HOLDING CO LTD, $2.66, +12.71 pct
The Chinese online retailer reported better-than-expected fourth-quarter revenue, helped by strong holiday sales.
U.S.-listed shares of gold producers rose as prices of the precious metal hit nearly three-week high.
Mexico refused to issue environmental license for the company’s sand extraction project due to potential impact on sea turtles.
** UNDER ARMOUR INC, $41.36, -5.01 pct
The No. 2 U.S. sportswear maker is losing apparel market share for the first time in three years, Morgan Stanley said in a note, citing SportScan data.
** FITBIT INC, $15.18, +4.69 pct
Wearable fitness device maker’s Blaze smartwatches and Alta wristbands will boost its first-quarter results, Morgan Stanley said.
** SEAGATE TECHNOLOGY PLC , $35.41, +6.56 pct
** WESTERN DIGITAL CORP, $44.86, +4.08 pct
Seagate picks up positive mention over the weekend in Barron‘s, which said the company would benefit from increased demand for large drives used in data centers.
Brokerage Cowen & Co also started Seagate with a “market perform” rating and a $36 price target.
** INSYS THERAPEUTICS INC $14.23, -19.42 pct
The drugmaker estimated first-quarter sales of $61 million-$62 million for its opioid-based painkiller due to decline in demand as well as a reduction in wholesale inventory levels.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $31.96, -5.08 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.
** YAHOO INC YHOO.O , $36.81, +2.05 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.
** SYNERGY RESOURCES CORP $7.68, -8.68 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, $39.06,+0.98 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, $32.52,+2.39 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,, $29.78,+1.40 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)