September 20, 2016 / 1:02 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Tobira, Ascena Retail, Seaworld, Encana

(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 higher as investors saw little room for the Federal Reserve to raise interest rates in a two-day policy meeting starting Tuesday. Dow Jones industrial average futures were up 0.34 percent at 18,113, S&P 500 futures were up 0.38 percent at 2,141 and Nasdaq 100 futures were up 0.31 percent at 4,809.

** TOBIRA THERAPEUTICS INC, Monday close $4.74, +575.32 pct premarket

** ALLERGAN PLC, Monday close $245.29, -0.37 pct premarket

Allergan Plc said it would buy Tobira Therapeutics Inc in a deal worth up to $1.7 billion, to gain access to its experimental therapies for a fatty liver disease called NASH. Allergan’s offer of $28.35 per Tobira share upfront is nearly a 500 percent premium to the stock’s close on Monday.

** ASCENA RETAIL GROUP INC, Monday close $8.12, -23.28 pct premarket

The women’s apparel retailer reported lower-than-expected quarterly same-store sales as strong competition lures away traffic from stores.

** SEAWORLD ENTERTAINMENT INC, Monday close $12.69, -7.01 pct premarket

The theme parks operator cut dividend, payable on Oct. 7, to 10 cents per share from 21 cents per share it paid previously. The company also said it would suspend future dividend payments.

** ENCANA CORP, Monday close $9.86, -6.59 pct premarket

Canadian oil and gas producer offered of 107 million shares, representing about 12.59 percent of total outstanding shares as of Aug. 21.

** CHESAPEAKE ENERGY CORP, Monday close $6.81, -2.79 pct premarket

Biggest shareholder in the U.S. natural gas producer, Carl Icahn, more than halved stake to 4.6 percent. Icahn reduced position to recognize capital loss for tax planning purposes.

** COMMUNITY HEALTH SYSTEMS INC, Monday close $11.09, +2.89 pct premarket

Apollo Global Management is one of the private equity firms in talks to acquire assets of the heavily indebted Community Health Systems.

** DTS INC, Monday close $34.33, +22.49 pct premarket

** TESSERA TECHNOLOGIES INC, Monday close $33.48

Patent licensing company Tessera Technologies said on Tuesday that it would buy audio equipment maker DTS Inc for about $850 million in cash.

** OCLARO INC, Monday close $9.1, -3.63 pct premarket

The telecom equipment maker proposed offering 13 million newly issued shares. Stock represents about 8.79 percent of total outstanding shares as of Aug. 22.

** LENNAR CORP, Monday close $45.09, -1.31 pct premarket

The U.S. homebuilder reported higher-than-expected profit and revenue for the third quarter as it sold more homes at higher prices and the company said orders rose 8.1 percent.

** WELLS FARGO & CO, Monday close $46.01, +1.26 pct premarket

Wells Fargo’s chief executive, John Stumpf, will tell U.S. senators on Tuesday that he is “deeply sorry” for selling customers unauthorized bank accounts and credit cards and that he would take “full responsibility” for the unethical activity, the New York Times reported on Monday.

** ADVANCED MICRO DEVICES INC, Monday close $6.16, +1.30 pct premarket

Bernstein raised price target on the chipmaker to $5 from $3 and upgraded to ‘market perform’ from ‘underperform’. (Compiled by Sruthi Shankar in Bengaluru)

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