August 18, 2014 / 1:58 PM / 4 years ago

BUZZ-U.S. Stocks on the Move-Dollar General, Sky-Mobi, Fuel Systems

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U.S. stocks opened higher on Monday as the threat of an escalation in Ukraine appeared to lessen and the latest flurry of merger action supported equities. The Dow Jones industrial average was up 0.71 percent at 16,781.93, the S&P 500 was up 0.63 percent at 1,967.4 and the Nasdaq Composite added 24.30 points or 0.54 percent, to 4,489.23.

** DOLLAR GENERAL CORP, $62.57, +8.89 pct

** FAMILY DOLLAR STORES INC, $79.47, +4.48 pct

** DOLLAR TREE INC, $54.52, -1.95 pct

Dollar General offered to buy Family Dollar Stores for $8.95 billion, trumping an offer by Dollar Tree, to strengthen its position as the No. 1 U.S. discount retailer.

Graphic on discount retailers' year-to-date stock movement, (

** SKY-MOBI LTD, $7.61, +13.41 pct

The Chinese mobile application store operator reported a 32.4 percent jump in second-quarter revenue on Friday, boosted by strong demand for single-player mobile games. Revenue from single-player mobile games rose 63.3 percent from a year-ago.


The drugmaker said experimental hepatitis C drug shows promise in mid-stage trial and that all patients treated with drug, ACH-3102, showed no detectable levels of the virus after four weeks.


Brokerage Leerink Swann LLC started covering the drug developer’s stock with “outperform” rating and a $25 price target. “We believe Tekmira’s (lipid-nanoparticle nucleic acid) platform represents a best-in-class technology that has been clinically validated,” analyst Michael Schmidt wrote in note.

** TESLA MOTORS INC, $266.999, +1.90 pct

The electric carmaker said on Friday it had boosted warranty coverage on its Model S sedan, a week after an influential U.S. consumer magazine highlighted problems with the $70,000-plus vehicle.

** BIOGEN IDEC, $346.48, +1.17 pct

U.S. health regulators on Friday approved Biogen Idec’s Plegridy, a long-acting multiple sclerosis drug that the company expects will eventually replace its older big-selling Avonex treatment.

** FUEL SYSTEMS SOLUTIONS INC, $9.99, -5.58 pct

The fuel components maker cuts 2014 revenue forecast to $335 million-$355 million from $340 million-$360 million. The company

also reports a 21 percent fall in Q2 revenue, partly due to loss of certain contracts and customers.


The sensors and electrical controls maker said it would buy Schrader group of companies for an enterprise value of $1 billion to benefit from a growing market for tire pressure monitoring sensors (TPMS).

** INGERSOLL-RAND PLC, $61.57, +1.68 pct

** CAMERON INTERNATIONAL CORP, $72.75, +0.17 pct

Ingersoll-Rand, a maker of heating and air conditioning systems, said it would buy Cameron International’s centrifugal compression unit for $850 million.

** SEAWORLD ENTERTAINMENT INC, $19.04, +2.04 pct

Credit Suisse initiated coverage of the theme park operator’s stock with “outperform” rating, according to Out of 11 analysts covering Seaworld, five have a “hold” rating, while six have “buy” or “strong buy”, according to Thomson Reuters data.

Compiled by Abhirup Roy in Bangalore; Editing by Sriraj Kalluvila

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