(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks opened lower on Monday as corporate earnings continued to underwhelm and investors stayed away from risky assets a day before the start of the Federal Reserve's two-day policy meeting. The Dow Jones industrial average was down 0.48 percent at 17,916.43, the S&P 500 was down 0.38 percent at 2,083.56 and the Nasdaq Composite was down 0.21 percent at 4,895.916.
** TRIBUNE PUBLISHING CO, $11.76, +56.38 pct
** GANNETT CO, $15.95, +1.14 pct
The Company is to be bought by Gannett, the publisher of USA Today, for $815 million, including the assumption of debt.
** PERRIGO CO PLC, $109.52, -9.75 pct
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $37.3, +3.67 pct
Perrigo lowers full year 2016 adjused profit forecast to $8.20-$8.60, from $9.50-$9.80. Valeant Pharmaceuticals International Inc names Perrigo’s CEO, Papa, as its new CEO; Papa expected to join the company by early May. Perrigo also says it has identified indicators of impairment related to its Branded Consumer Healthcare business.
** XEROX CORP, $9.95, -10.92 pct
The printer and copier maker reported a 4.2 percent fall in its quarterly revenue, hurt by a strong dollar and lower sales of printers and copiers.
** DEPOMED INC, $17.94, +2.28 pct
The drug developer said on Monday Starboard Value LP has 30 days to request for a special shareholder meeting to discuss the activist investor’s demand to replace Depomed’s board.
Sarepta’s muscle wasting drug got a new lease of life on Friday after staff at the U.S. Food and Drug Administration made it necessary that an independent panel of experts recommend on Monday on whether the drug should be approved or not. Shares were halted ahead of the recommendation. (Compiled by Rosmi Shaji in Bengaluru)