April 25, 2016 / 6:16 PM / in 2 years

BUZZ-U.S. STOCKS ON THE MOVE-Tribune, Perrigo, Xerox, Parnell, Knowles

(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) Wall Street was lower on Monday as a drop in oil prices, lackluster quarterly earnings and an impending Federal Reserve meeting weighed on investor sentiment. The Dow Jones industrial average was down 0.43 percent at 17,926.22, the S&P 500 was down 0.43 percent at 2,082.51 and the Nasdaq Composite was down 0.45 percent at 4,884.231.

** TRIBUNE PUBLISHING CO, $11.51, +53.06 pct

** GANNETT CO, $16.55, +4.95 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, $102.03, -15.92 pct

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $35.59, -1.08 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.

** FIRST DATA CORP, $13.44, +3.38 pct

In second report since going public, the company reports better-than-expected revenue and profit.

** XEROX CORP, $9.9, -11.37 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.

** ANAVEX LIFE SCIENCES CORP, $6.06, +15.65 pct

Maxim Group analysts say shares up following reports in the Australian media related to company's experimental Alzheimer's drug, ANAVEX 2-73. The analysts say case reports of efficacy are exciting but "not necessarily predictive that we will see statistically significant evidence that the drug works on patients". (bit.ly/1SnCpVY)

** COMMUNITY HEALTH SYSTEMS INC, $19.07, -8.49 pct

Raymond James analysts’ downgrade to “underperform” from “market perform” to account for negative implications of the Quorum spin off.

** GOPRO INC, $12.939, -7.45 pct

** AMBARELLA, $42.0396, -5.68 pct

Brokerage Pacific Crest says channel checks detect GPRO’s days of inventory at roughly three weeks consistently over past month, while estimate sell-through in U.S. down about 40 pct yr/yr in Q1

** KNOWLES CORP, $13.14, -7.98 pct

The company’s shares fall ahead of the first-quarter earnings report, scheduled after the bell.

** PARNELL PHARMACEUTICALS HOLDINGS LTD, $2.09, -15.73 pct

The pet drug developer reported lower-than-expected first-quarter revenue from the company’s U.S. animal products division.

** SAREPTA THERAPEUTICS INC, $0, +0.00 pct

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. Sarepta shares were halted ahead of the recommendations. (Compiled by Rosmi Shaji in Bengaluru; Edited by Don Sebastian)

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