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U.S. stocks drifted lower on Tuesday as oil prices fell for the sixth straight day and investors held off from making big bets ahead of a widely expected interest rate hike.
The Dow Jones Industrial Average was down 0.23 percent at 20,833.47, the S&P 500 was down 0.43 percent at 2,363.23 and the Nasdaq Composite was down 0.44 percent at 5,850.142.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $10.80, -10.82 pct
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, $15.69, +23.93 pct
** EURONET WORLDWIDE INC, $82.72, -0.29 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 .
** 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, $27.15, +8.99 pct
** ALLERGAN PLC, $240.50, -0.06 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.
** AIR METHODS CORP, $43.03, +3.93 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, $81.65, -3.86 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, $49.66, -2.40 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, $26.16, +4.72 pct
Brokerage Goldman Sachs upgraded the network gear maker’s stock to “buy” from “neutral”.
** OPKO HEALTH INC, $8.34, +5.24 pct
Brokerage Guggenheim began coverage of the drugmaker’s stock with a “buy” rating and a $25 price target.
** PHYSICIANS REALTY TRUST, $18.33, -3.02 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.
** LANTHEUS HOLDINGS INC, $12.45, -11.39 pct
Avista Capital Partners cut its stake in the medical diagnostics company by a fifth.
** AURINIA PHARMACEUTICALS INC, $8.23, -21.96 pct
The Canadian drugmaker raised equity at a deep discount.
** ANTHERA PHARMACEUTICALS INC, $0.42, -38.97 pct
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, $18.23, +3.34 pct
The lemon and avocado producer raised its 2017 profit forecast.
** WALTER INVESTMENT MANAGEMENT CORP, $1.70, -37.04 pct
The company reported quarterly loss and its management said turning the business around will take time.
** ETHAN ALLEN INTERIORS INC, $29.90, +3.10 pct
Brokerage Raymond James upgraded the furniture retailer’s stock to “strong buy” from “market perform”.
** COOPER TIRE & RUBBER CO, $43.90, +6.04 pct
Brokerage JP Morgan upgraded the U.S. tire maker’s stock to “overweight” from “neutral”.
** CLEARSIDE BIOMEDICAL INC, $6.38, -12.72 pct
The ophthalmic drug developer posted a bigger-than-expected quarterly loss, hurt by higher research and development expenses.
** CUI GLOBAL INC, $5.10, -14.57 pct
The industrial technology provider reported lower-than-expected fourth-quarter revenue, hurt by lower sales in its power and electromechanical business.
** GREEN DOT CORP, $33.23, +10.18 pct
The prepaid debit card issuer announced advisory agreement with Harvest Capital Strategies LLC, one of the company’s largest long-term shareholders.
** TILLYS INC, $8.95, -10.86 pct
Three brokerages cut their price targets on the sports apparel retailer’s stock after the company forecast a drop in first-quarter comp sales.
** PATRIOT NATIONAL INC, $2.65, -22.29 pct
The insurance outsourcer reported a fourth-quarter adjusted loss of 5 cents per share versus the average analysts’ estimate of a profit of 13 cents per share.
** ATLAS FINANCIAL HOLDINGS INC, $12.80, -5.54 pct
The commercial insurance company reported a wider-than-expected fourth-quarter loss as the company paid out more in claims.
** ADEPTUS HEALTH INC, $1.54, -33.62 pct
The healthcare operator hired a chief restructuring officer and amended a credit agreement.
** SNAP INC, $20.41, -3.22 pct
Digital marketing firm eMarketer trims Snap’s 2017 advertising revenue forecast by $30 million due to higher-than-expected revenue sharing with partners.
** NOODLES & CO, $4.05, +12.50 pct
The restaurant chain operator issued 8.9 million shares of class A stock via placement of $3.55 per share.
** RESOURCE CAPITAL CORP, $8.61, +5.77 pct
The real estate investment trust reported a smaller-than-expected fourth-quarter loss on Monday.
Compiled by Akankshita Mukhopadhyay in Bengaluru