March 14, 2017 / 3:44 PM / a year ago

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

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U.S. stocks were lower on Tuesday as oil prices fell and investors focused on the Federal Reserve’s policy meeting, where it is widely expected to raise interest rates.

The Dow Jones Industrial Average was down 0.16 percent at 20,848.95, the S&P 500 was down 0.36 percent at 2,364.93 and the Nasdaq Composite was down 0.46 percent at 5,848.675.


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, $15.76, +24.49 pct

** EURONET WORLDWIDE INC, $83.63, +0.81 pct

U.S. electronics payments processor Euronet Worldwide offered to buy U.S. money-transfer company MoneyGram for more than $1 billion, trumping a bid by Ant Financial Services Group, the payment affiliate of China’s Alibaba Group Holding Ltd .

** AIR METHODS CORP, $42.93, +3.68 pct

U.S. medical helicopter company Air Methods, which has been under pressure from activist investor Voce Capital to sell itself, agreed to be acquired by private equity firm American Securities LLC in a $2.5 billion deal, including debt.

** CITRIX SYSTEMS INC, $81.86, -3.61 pct

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, $49.58, -2.56 pct

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, $1.35, +3.85 pct

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

** ARRIS INTERNATIONAL PLC, $25.98, +3.98 pct

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

** OPKO HEALTH INC, $8.42, +6.31 pct

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

** PHYSICIANS REALTY TRUST, $18.35, -2.91 pct

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.

** RUBY TUESDAY INC, $2.06, +18.39 pct

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

** EDITAS MEDICINE INC, $27.80, +11.60 pct

** ALLERGAN PLC, $240.02, -0.26 pct

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.

** LANTHEUS HOLDINGS INC, $12.35, -12.10 pct

Avista Capital Partners cut its stake in the medical diagnostics company by a fifth.


The Canadian drugmaker raised equity at a deep discount.


The drug developer is expected to raise gross proceeds of $15 million from the sale of 30 million shares, or about 71.5 percent of its total outstanding shares.

** LIMONEIRA INC, $18.32, +3.85 pct

The lemon and avocado producer raised its 2017 profit forecast.


The company reported quarterly loss and its management said turning the business around will take time.

** ETHAN ALLEN INTERIORS INC, $30.00, +3.45 pct

Brokerage Raymond James upgraded the furniture retailer’s stock to “strong buy” from “market perform”.

** COOPER TIRE & RUBBER CO, $43.40, +4.83 pct

Brokerage JP Morgan upgraded the U.S. tire maker’s stock to “overweight” from “neutral”.

** CLEARSIDE BIOMEDICAL INC, $6.66, -8.89 pct

The ophthalmic drug developer posted a bigger-than-expected quarterly loss, hurt by higher research and development expenses.

** CUI GLOBAL INC, $5.04, -15.58 pct

The industrial technology provider reported lower-than-expected fourth-quarter revenue, hurt by lower sales in its power and electromechanical business.

** BIO RAD LABORATORIES INC, $200.37, +1.40 pct

Brokerage Jefferies raised its price target on the manufacturer and distributor of life science diagnostics products to $250 from $225. (Compiled by Akankshita Mukhopadhyay in Bengaluru; Editing by Anil D’Silva)

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