(Corrects percentage in share price and the brokerage name to RBC from Royal Bank of Scotland in Restaurant Brands item)
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 0.37 percent at 17,641.26, the S&P 500 was up 0.24 percent at 2,052.43 and the Nasdaq Composite was up 0.30 percent at 4,865.179.
** CHESAPEAKE ENERGY CORP, $4.31, +14.63 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 , $15.79, +10.73 pct
** ANNALY CAPITAL MANAGEMENT INC , $10.365, -0.43 pct
Annaly Capital Management will acquire Hatteras Financial Corp for $1.5 bln in cash and stock.
** HERTZ GLOBAL HOLDINGS INC , $8.72, -10.10 pct
** AVIS BUDGET GROUP INC , $22.96, -7.04 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.
** RESTAURANTS BRANDS INTERNATIONAL, $39.24, +3.18 pct
The restaurant operator’s stock was upgraded to “outperform” by RBC, citing sales momentum at its Burger King chains in the United States and cost cutting opportunities at Tim Hortons.
** NATIONAL OILWELL VARCO INC >, $27.41, -5.84 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 , $79.44, -2.52 pct
** CANADIAN PACIFIC RAILROAD LTD, $139.73, +3.67 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, $10.4, -16.33 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, $2.64, +11.86 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, $41.03, -5.76 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, $15.09, +4.07 pct
Wearable fitness device maker’s Blaze smartwatches and Alta wristbands will boost its first-quarter results, Morgan Stanley said.
** SEAGATE TECHNOLOGY PLC , $35.35, +6.38 pct
** WESTERN DIGITAL CORP, $44.7, +3.71 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, $31.51, -6.42 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 , $36.685, +1.71 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 $7.755, -7.79 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, $32.55, +2.49 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,, $29.69, +1.09 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)