(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 e-mini futures rose on Monday: Dow Jones industrial average futures were up 0.47 percent at 16,556, S&P 500 futures were up 0.49 percent at 1,933.25 and Nasdaq 100 futures were up 0.57 percent at 3,895.75.
** MANNKIND CORP, Friday close $8.13, +20.54 pct premarket
French drugmaker Sanofi is betting on inhaled insulin as an alternative option to daily injections for diabetics by signing a worldwide licensing agreement with MannKind Corp worth up to $925 million.
** DEAN FOODS CO, Friday close $15.81, -8.98 pct premarket
The largest U.S. milk processor posted a wider-than-expected adjusted loss in the second quarter and withdrew its full-year forecast, citing record high milk costs. “This is by far the most difficult operating environment in the history of the company...,” Chief Executive Gregg Tanner said. “The balance of the year appears rocky, with a continued unpredictable and volatile dairy commodity environment.”
** KINDER MORGAN INC, Friday close $36.12, +17.97 pct premarket
** KINDER MORGAN ENERGY PARTNERS LP, Friday close $80.34, +22.53 pct premarket
** KINDER MORGAN MANAGEMENT, Friday close $77.02, +29.62 pct premarket
** EL PASO PIPELINE PARTNERS, Friday close $33.6, +26.90 pct premarket
Top U.S. pipeline company Kinder Morgan Inc said it will put all its publicly traded units under one roof in a $70 billion deal, responding to investor concerns about its growth prospects and complicated financial structure.
The company said it would shed the tax-advantaged legal structure, the Master Limited Partnership, and fold its units into one company with a market capitalization of $92 billion organized as a C-corporation.
The affected units include Kinder Morgan Energy Partners, Kinder Morgan Management, and El Paso Pipeline Partners. The deal is comprised of $40 billion in Kinder Morgan equity, $4 billion in cash and $27 billion in assumed debt.
** CAL DIVE INTERNATIONAL INC, Friday close $1.11, -7.21 pct premarket
The marine contractor reported a bigger-than-expected loss for the second quarter in a row as harsh weather delayed the start of projects in the U.S. Gulf of Mexico as well as the completion of two projects in Mexico. The company said it is exploring alternatives, including an acquisition, joint venture or merger.
** MCDONALD’S CORP, Friday close $93.55, +0.13 pct premarket
** YUM BRANDS INC, Friday close $69.97, +0.71 pct premarket
** BURGER KING, Friday close $26.09
Five fast food chains including McDonald’s and Yum Brands have published details of their suppliers on their Chinese websites following a request from Shanghai authorities after a food safety scare.
Shanghai’s Municipal Food and Drug Administration said on Saturday it had asked the two chains, along with Burger King, Dicos and Carl’s Jr, to publish the usually confidential information as part of efforts government efforts to strengthen oversight of food suppliers.
** PRICELINE GROUP INC, Friday close $1,281.56, -0.12 pct premarket
The online travel agency forecast third-quarter earnings below analysts’ estimates, mainly due to heavy spending on its international expansion.
** TEKMIRA PHARMACEUTICALS CORP, Friday close $20.7, +13.53 pct premarket
** BIOCRYST PHARMACEUTICALS INC, Friday close $13.96
** NANOVIRICIDES INC, Friday close $4.28, +3.27 pct premarket
** SAREPTA THERAPEUTICS INC, Friday close $21.1, +2.37 pct premarket
Investors are showering attention on drug developers working on a potential treatment for the Ebola virus, even if some of the drugs are a long way from production.
Global health agencies are only starting to consider whether to make experimental drugs, most of which have only been tested on monkeys, available to patients in West Africa.
** Gogo Inc, Friday close $15.97, -2.94 pct premarket
The in-flight wireless service provider said it expects full-year EBITDA to come in at low end of its forecast and that it expects to spend more on satellite transponder connectivity products to expand its business. Up to Friday’s close, the stock had fallen about 36 percent this year.
** ACHILLION PHARMACEUTICALS INC, Friday close $7.36, +5.43 pct premarket
At least two brokerages raise ratings on the drugmaker’s stock, saying the company’s hepatitis C drug shows promise and has good safety profile to date.
“Given the relative near-term data releases for Achillion, we believe that a potential suitor could step up to the plate this fall,” said Piper Jaffray, upgrading the stock to “overweight” from “neutral” and doubling its price target to $10.
Wells Fargo raised its rating to “outperform” from “market perform”.
** TESLA MOTORS, Friday close $248.13, +2.79 pct premarket
Deutsche Bank raised its rating on the electric car maker’s stock to “buy”, according to Streetinsider.com. Up to Friday’s close, the stock had gained 65 percent this year.
** 2U Inc, Friday close $17.08, -6.32 pct premarket
Goldman Sachs cut its rating on the stock of the provider of web-based education software to “neutral” from “buy” and removed the company from its Americas buy list.
** BIODEL INC, Friday close $1.91, +10.99 pct premarket
The company said its experimental insulin formulation was found more effective than current therapies in controlling glucose after two meals, in a mid-stage trial.
** MOTORCAR PARTS OF AMERICA INC, Friday close $23.79, +5.04 pct premarket
The auto parts maker reported a better-than-expected adjusted profit in the first quarter, driven by higher wheel hub sales and lower expenses.
** MERRIMACK PHARMACEUTICALS INC, Friday close $6.53, +5.97 pct premarket
The drug developer posted a smaller-than-expected Q2 loss, helped by accelerated milestone payment from Sanofi SA .
** RICE ENERGY INC , Friday close $26.77, +2.73 pct premarket
The natural gas producer said it is pursuing the formation of midstream master limited partnership (MLP), with an offering expected to be completed in the first half of 2015.
** GLAXOSMITHKLINE PLC, Friday close $46.58, -0.41 pct premarket
A clinical trial of an experimental vaccine against the deadly Ebola virus is set to start shortly, according to the British drugmaker, which is co-developing the product with U.S. scientists.
** GENERAL MOTORS CO, Friday close $33.53
The automaker has lost its bid to dismiss a lawsuit accusing it of concealing critical evidence about a faulty ignition switch linked to the death of a Georgia woman in 2010.
** AMAZON.COM INC, Friday close $316.8, +0.53 pct premarket
** WALT DISNEY CO, Friday close $86.85
Amazon.com has halted pre-orders of some Disney movies, the Wall Street Journal reported, in what appears to be another contract dispute after the online retailer began a protracted spat with publisher Hachette Book Group this year. (Compiled by Sneha Banerjee in Bangalore; Editing by Savio D’Souza)