June 23, 2014 / 12:42 PM / in 4 years

BUZZ-U.S. Stocks on the Move-Oracle, Micros, AbbVie, Lululemon

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for more market insights, including options activity, ; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s)

U.S. stock index futures were little changed on Monday, after a six-day rally in the benchmark S&P 500, as upbeat manufacturing data in China was offset by soft readings on business activity in Europe. Dow Jones industrial average futures were down 0.02 percent at 16,855, S&P 500 futures were up 0.05 percent at 1,954.25 and Nasdaq 100 futures were down 0.05 percent at 3,791.25.

** ORACLE CORP, Friday close $40.82, +0.64 pct premarket

** MICROS SYSTEMS INC, Friday close $65.77, +3.01 pct premarket

Oracle said it would buy Micros Systems in a $5.3 billion deal to expand its offerings for the hospitality and retail industries. The offer of $68 per share represents a premium of 3.4 percent to Micros’ Friday close. Micros shares have risen 14 percent since Bloomberg reported on June 17 that the companies were in talks over a deal.

** ABBVIE INC, Friday close $53.3, +1.88 pct premarket

The drugmaker, which is trying to buy London-listed Shire Plc, said it expects business performance to remain strong for the rest of the year and raised its full-year adjusted earnings forecast to $3.06-$3.16 per share from its prior forecast of $3.00-$3.10.

** LULULEMON ATHLETICA INC, Friday close $40.23, +5.22 pct premarket

Founder Chip Wilson turned to Goldman Sachs as he sought a board shakeup at the yogawear retailer, the Wall Street Journal reported. He may consider a proxy fight or joining a private equity firm in a buyout, the Journal said.

Wilson is working on building a team of advisers that will likely include Goldman, a source familiar with the situation told Reuters.

** CUBIST PHARMACEUTICALS INC, Friday close $72.24, +1.74 pct premarket

The United States FDA approved Cubist’s drug, Sivextro, for treating acute bacterial skin infections on Friday.

Jefferies raises price target to $88 from $87, maintains “buy”. Analysts said sales would reach about $175 million in 2024, assuming the drug is launched in Europe by 2016.

** INTEGRYS ENERGY GROUP, Friday close $60.95, +10.60 pct premarket

Wisconsin Energy Corp said it would buy the energy holding company for $9.1 billion in cash, stock and assumed debt. Shareholders will get 1.128 Wisconsin Energy shares and $18.58 cash per Integrys share - translates to $71.47

** CENTRAL GARDEN & PET CO, Friday close $9, +10.00 pct premarket

** HARBINGER GROUP INC, , Friday close $9, +10.00 pct premarket

Harbinger offered to buy the retailer for $10 per share, or acquire its pet business for $750 million. The $10 offer represents a 11.1 percent premium to the stock’s Friday close. Harbinger may increase the offer if Central Garden engaged in “a constructive dialogue” and grants access to diligence materials.

** HUDBAY MINERALS INC, Friday close $9.75

Augusta Resource Corp agreed to be bought by HudBay, which owns 16 percent of its shares, after it raised its offer to buy Augusta shares it does not already own.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below