August 22, 2016 / 1:12 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Medivation, Intersil, Syngenta, Valeant

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter,; for the Morning News Call newsletter, U.S. stock index futures were lower on Monday as oil prices fell the most in four weeks and dollar strengthened in anticipation of an interest rate increase this year. Dow Jones industrial average futures were down 0.28 percent at 18,489, S&P 500 futures were down 0.17 percent at 2,178 and Nasdaq 100 futures were down 0.16 percent at 4,799.5.

** MEDIVATION INC, Friday close $67.16, +20.15 pct premarket

** PFIZER INC, Friday close $34.98, -0.94 pct premarket

Pfizer said on Monday it would buy U.S. cancer drug company Medivation in a deal valued at about $14 billion, adding blockbuster prostate cancer drug Xtandi to its portfolio.

** INTERSIL CORP, Friday close $15.64, +24.04 pct premarket

Japan’s Renesas Electronics Corp is in the final stages of negotiations to acquire U.S. chipmaker Intersil for as much as 300 billion yen ($2.99 billion), an industry source familiar with the deal said on Monday.

** SYNGENTA AG, Friday close $79.51, +10.68 pct premarket

A U.S. national security panel has cleared ChemChina’s $43 billion takeover of Swiss pesticides and seeds group Syngenta SYNN.S, the companies said, boosting chances that the largest foreign acquisition ever by a Chinese company will go through.

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, Friday close $28.74, +3.03 pct premarket

Valeant Pharmaceuticals named Zoetis Inc executive Paul Herendeen as chief financial officer, replacing Robert Rosiello, the latest in a series of management changes at the Canadian drugmaker.

** FACEBOOK INC, Friday close $123.56

The social networking website stock has the potential to climb by more than 20 percent over the next year given the growing advertising revenue among its platforms, according to a Barron’s report on Sunday.

** GENERAL ELECTRIC CO, Friday close $31.25, -0.06 pct premarket

The global industrial conglomerate’s plan to take on $20 billion of debt adds to the “uncertainty surrounding its ability to mitigate” pressure on credit metrics, Moody’s Investors Service said on Monday.

** VIACOM INC, Friday close $43.49

The entertainment content company said on Saturday that Chief Executive Philippe Dauman will resign immediately, marking a victory for the family of controlling shareholder Sumner Redstone in the battle for the $40 billion media empire.

** OFFICE DEPOT INC, Friday close $3.52

The company’s Chief Executive Roland Smith would retire and a new CEO to be named by the end of the first quarter of 2017.

** CST BRANDS INC, Friday close $47.51, -0.04 pct premarket

Canadian convenience store operator Alimentation Couche-Tard said it would buy U.S. convenience store retailer CST Brands for about $3.67 billion, as the company looks to strengthen its U.S. operations. (Compiled by Diptendu Lahiri; Edited by Don Sebastian)

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