March 14, 2017 / 11:53 AM / in 6 months

BUZZ-U.S. STOCKS ON THE MOVE-Valeant, MoneyGram, Insignia Systems

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U.S. stock index futures were marginally lower on Tuesday ahead of the Federal Reserve’s closely watched two-day meeting, where it is widely expected to raise interest rates.

Dow Jones Industrial Average futures were down 0.14 percent at 20,859, S&P 500 futures were down 0.18 percent at 2,370.75 and Nasdaq 100 futures were down 0.12 percent at 5,389.25.

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, Monday close $12.11, -11.64 pct premarket

Billionaire investor William Ackman walked away from Valeant Pharmaceuticals International Inc on Monday with a loss of more than $3 billion as he sold his entire stake in the struggling drug company after trying to rescue it for some 18 months.

** MONEYGRAM INTERNATIONAL INC, Monday close $12.66, +22.43 pct premarket

** EURONET WORLDWIDE INC, Monday close $82.96 U.S. electronics payments provider Euronet Worldwide said it offered to buy money-transfer company MoneyGram for $15.20 per share, trumping Ant Financial’s bid of $13.25 per share.

** CITRIX SYSTEMS INC, Monday close $84.93

The U.S. networking software company has been exploring strategic alternatives including a potential sale, people familiar with the matter said on Monday.

** HALLIBURTON CO, Monday close $50.88, +1.08 pct premarket

Financial daily Finansavisen late on Monday said U.S. oilfield services firm Halliburton was close to signing a deal to buy Aker Solutions or its key subsea unit.

** INSIGNIA SYSTEMS INC, Monday close $1.30, +7.69 pct premarket

Cable Car Capital reported a 6.3 percent stake in Insignia Systems as of March 3, according to a filing.

** ARRIS INTERNATIONAL PLC, Monday close $24.98, +4.08 pct premarket

Brokerage Goldman Sachs raised the network gear maker’s stock to “buy” from “neutral”.

** OPKO HEALTH INC, Monday close $7.92, +3.03 pct premarket

Brokerage Guggenheim began coverage of the drugmaker’s stock with a “buy” rating and a $25 price target. (Compiled by Akankshita Mukhopadhyay in Bnegaluru; Editing by Anil D‘Silva)

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