March 14, 2017 / 12:59 PM / a year ago

BUZZ-U.S. STOCKS ON THE MOVE-Valeant, MoneyGram, Ruby Tuesday

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U.S. stocks looked set to open marginally lower on Tuesday ahead of the Federal Reserve’s policy meeting, where it is widely expected to raise interest rates for the first time this year.

Dow Jones Industrial Average futures were down 0.24 percent at 20,837, S&P 500 futures were down 0.29 percent at 2,368 and Nasdaq 100 futures were down 0.25 percent at 5,382.

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, Monday close $12.11, -10.57 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, +25.28 pct premarket

** EURONET WORLDWIDE INC, Monday close $82.96, -2.66 pct premarket

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.

** RUBY TUESDAY INC, Monday close $1.74, +14.94 pct premarket

The restaurant chain operator said it’s exploring strategic alternatives, not limiting to a potential sale.

** EDITAS MEDICINE INC, Monday close $24.91, +10.32 pct premarket

** ALLERGAN PLC, Monday close $240.65, -0.74 pct premarket

Allergan said it would get exclusive access and the option to license up to five of Editas Medicine’s experimental gene-editing-based eye treatments under a research and development deal between the two companies.

** HALLIBURTON CO, Monday close $50.88, -0.75 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 6.3 percent stake in Insignia Systems as of March 3, according to a filing.

** ARRIS INTERNATIONAL PLC, Monday close $24.98, +4.12 pct premarket

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

** OPKO HEALTH INC, Monday close $7.92, +2.40 pct premarket

Brokerage Guggenheim began coverage of the drugmaker’s stock with a “buy” rating and a $25 price target.

** PHYSICIANS REALTY TRUST, Monday close $18.90, -3.81 pct premarket

The healthcare real estate company is expected to raise net proceeds of about $261.4 million from sale of 15 million shares, or about 11 percent of total outstanding shares. (Compiled by Akankshita Mukhopadhyay in Bnegaluru; Editing by Anil D’Silva)

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