June 9, 2014 / 11:19 AM / 4 years ago

MARKET PULSE-Hillshire Brands, Tyson Foods, Time Warner, Family Dollar

(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s)

June 9 (Reuters) - Dow Jones industrial average futures were down 0.05 percent at 16,923, S&P 500 futures were down 0.10 percent at 1,947.25 and Nasdaq 100 futures were down 0.07 percent at 3,795.5.

** TYSON FOODS INC, Friday close $40.12, -0.95 pct premarket

** HILLSHIRE BRANDS CO, Friday close $58.92

** PILGRIM’S PRIDE CORP, Friday close $26.27

Tyson Foods has prevailed over Pilgrim’s Pride in a bidding war for Jimmy Dean sausage maker Hillshire Brands, according to a person familiar with the matter.

** TIME WARNER INC, Friday close $71.08

Time Inc, the magazine company that is home to People, Sports Illustrated and Time, will begin trading on the New York Stock Exchange on Monday as print based companies face serious hurdles. Led by Chief Executive Joe Ripp, Time Inc is spinning off from its parent Time Warner and will operate as a stand-alone public company no longer buffered by its lucrative cousins, pay-TV channel HBO or movie studio Warner Bros.

** CHESAPEAKE ENERGY CORP, Friday close $29.72

The oil and gas producer said its board approved the spin-off of its oilfield services into a publicly traded company called Seventy Seven Energy Inc (SSE). Chesapeake shareholders will receive one share of SSE common stock for every 14 shares of Chesapeake common stock held at the close of business on June 19, 2014.

** CHINA MOBILE LTD, Friday close $48.93

The state-owned Chinese telecommunications company is poised to buy an 18 percent stake in Thai telecoms group True Corp valued at around $581 million, people familiar with the matter said, in Thailand’s first major corporate deal since a coup last month.

** AMAZON.COM INC, Friday close $329.67, +0.40 pct premarket

Amazon.com will start managing subscription payments for start-ups and other companies - the latest in a series of quiet moves the e-commerce giant has made into PayPal’s turf over the past year.

** FAMILY DOLLAR STORES INC, Friday close $60.53, +12.42 pct premarket

** DOLLAR GENERAL corp, Friday close $57.99, +6.31 pct premarket

Hedge fund billionaire Carl Icahn became the largest shareholder in Family Dollar Stores after reporting a 9.39 percent stake in the company on Friday, and said he may seek representation on its board.

Dollar General shares were also up on the news.

** BIOGEN IDEC INC, Friday close $317.55

The U.S. Food and Drug Administration said on Friday it approved Biogen Idec’s long-lasting hemophilia A drug, Eloctate, adding another product to the company’s nascent portfolio of drugs for non-malignant blood disorders.

** BIODELIVERY SCIENCES INTERNATIONAL INC, Friday close $10, +4.00 pct premarket

BioDelivery Sciences International said it had received U.S. regulatory approval for its drug, Bunavail, to treat opioid dependence.


The Canadian drugmaker said the U.S. regulator approved for use its topical solution for the treatment of a common fungal nail infection, onychomycosis.

The drug, Jublia, won Canadian approval last October.

** NEUSTAR INC, Friday close $26.67, -7 pct after market

Neustar could lose a phone contract to rival Ericsson , media reports said citing an e-mail made public on a government website. The company routes phone calls and manages databases used by North American telecom carriers. (link.reuters.com/byz89v)

** RENESOLA LTD, Friday close $2.25

The solar company said it entered a partnership with Swiss solar products maker SolarMax, and completed delivery of first order of SolarMax invertors. (Reporting By Shubhankar Chakravorty in Bangalore; Editing by Joyjeet Das)

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