May 3, 2016 / 12:02 PM / in 2 years

BUZZ-U.S. STOCKS ON THE MOVE-Mylan, AIG, On Deck, Quintiles

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U.S. stock index futures were sharply lower on Tuesday after weak Chinese economic data raised concerns about the health of the global economy: Dow Jones industrial average futures were down 0.67 percent at 17,679, S&P 500 futures were down 0.72 percent at 2,059.25 and Nasdaq 100 futures were down 0.72 percent at 4,337.5.

** MYLAN NV, Monday close $42.71, +3.02 pct premarket

Drugmaker Mylan posted a 17 percent rise in quarterly revenue, helped by higher generic drug sales, and stood by its full-year revenue and adjusted profit forecast.

** AMERICAN INTERNATIONAL GROUP INC, Monday close $56.59, -3.07 pct premarket

The biggest U.S. commercial insurer by premiums reported a lower-than-expected quarterly operating profit as income from underwriting and returns on investments declined.

** ON DECK CAPITAL INC, Monday close $8.3, -36.75 pct premarket

The online lender forecast 2016 revenue below average analysts’ estimates and said it expects to sell fewer loans through its OnDeck Marketplace platform, over short term, resulting in lower sales, higher expense provision and lower adjusted EBITDA than planned.

** QUINTILES TRANSNATIONAL HOLDINGS INC, Monday close $69.1, -3.04 pct premarket

** HEALTH HOLDINGS INC, Monday close $26.87

Contract medical research provider Quintiles Transnational Holdings and healthcare information company IMS Health Holdings said they would merge in a deal valued at $9 billion.

** YELP INC, Monday close $21.51, +5.07 pct premarket

Hedge fund manager David Einhorn on Monday told investors he had made new investments in business review website Yelp.

** UBS Group AG , Monday close $17.23, -6.56 pct premarket

The Swiss bank plans job cuts to help save hundreds of millions of dollars in its wealth management business, after its first-quarter net profit fell by nearly two-thirds due to wary clients investing less.

** ENERGY TRANSFER EQUITY LP, Monday close $12.12, -3.30 pct premarket

** WILLIAMS COMPANIES INC, Monday close $18.81, +0.27 pct premarket

Pipeline operator Energy Transfer is taking steps that may enable it to renegotiate its $20 billion cash-and-stock acquisition of Williams Companies, according to people familiar with the matter.

** PFIZER INC, Monday close $32.8, +2.68 pct premarket

U.S. drugmaker Pfizer reported first-quarter revenue that blew past analysts’ average estimate, boosted by sales of its new treatments for cancer and its Hospira acquisition.

** HALLIBURTON CO, Monday close $42.05, +0.36 pct premarket

The world’s No.2 oilfield services provider reported a higher-than-expected adjusted profit for the first quarter as deep cost cuts helped cushion the impact of a drop in drilling and completion activity.

** VALERO ENERGY CORP, Monday close $59.82

The U.S. refiner reported a 49 percent fall in profit, hurt by weak margins and higher inventories.

** CVS HEALTH CORP, Monday close $101.45, +0.15 pct premarket

The No. 2 U.S. drugstore chain by store count reported a 19 percent rise in quarterly revenue, helped by strong demand for its pharmacy benefit management services.

** ARCHER DANIELS MIDLAND CO, Monday close $40.26, -2.01 pct premarket

The U.S. agribusiness company reported a 53.3 percent fall in quarterly profit, hurt by a commodities rout and lower U.S. grain exports.

** EXXON MOBIL CORP, Monday close $89.13, -0.99 pct premarket

** CHEVRON CORP, Monday close $103.31, -0.97 pct premarket

Norway’s $872 billion sovereign wealth fund, the world’s largest, will back shareholder proposals aimed at changing corporate governance and climate policies at U.S. oil majors Exxon Mobil and Chevron, it said on Tuesday.

** COTY INC, Monday close $31.06

The beauty products maker’s sales increased for the first time in six quarters due to higher demand for color cosmetics including Rimmel makeup.

** DUKE ENERGY CORP, Monday close $78.94

The biggest U.S. power company by generation capacity reported a 19.7 pct fall in quarterly profit as a mild winter hurt electricity demand.

** WELLCARE HEALTH PLANS INC, Monday close $26.87

U.S. health insurer WellCare Health reported a quarterly profit that beat Wall Street estimates, helped by higher Medicaid enrollments, and the company also raised its profit forecast for the year.

** FAIRWAY GROUP HOLDINGS CORP, Monday close $0.2075

The grocery chain operator, which has lost money in every quarter since it went public in 2013, filed for Chapter 11 bankruptcy on Monday in a New York court.

** ALIBABA GROUP HOLDING LTD, Monday close $76.61, -1.06 pct premarket

Uber Technologies Inc said it signed up with online payment platform Alipay to allow Chinese travelers to request and pay for rides using the Alipay app in the over 400 cities the ride-hailing service operates in.

** ANADARKO PETROLEUM CORP, Monday close $51.95

The oil and gas producer posted a smaller-than-expected first-quarter loss as it successfully slashed costs to offset the plunge in crude oil prices.

** ENCANA CORP , Monday close $7.43

The Canadian oil and gas producer posted a bigger-than-expected quarterly loss due to lower production amid a steep fall in oil prices.

** FABRINET, Monday close $32.29

The laser product maker reported better-than-expected third-quarter profit and revenue, helped by higher demand for its optical packaging and precision optical products.

** TRIBUNE PUBLISHING CO, Monday close $11.21

** OAKTREE CAPITAL GROUP LLC, Monday close $47.86

Oaktree Capital, the second largest shareholder in Tribune Publishing Co, wants the U.S. newspaper company to explore a sale, people familiar with the matter said on Monday. (Compiled by Ankit Ajmera in Bengaluru; Editing by Anil D’Silva)

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