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U.S. stock index futures dipped on Monday, after the Dow and S&P closed at records on the heels of an agreement by euro zone finance ministers to extend Greece’s bailout by four months provided it draws up a list of reforms: Dow Jones industrial average futures were down 0.22 percent at 18,065, S&P 500 futures were down 0.19 percent at 2,103 and Nasdaq 100 futures were up 0.03 percent at 4,439.25.
** GOLDMAN SACHS GROUP INC, Friday close $191.51, -1.31 pct premarket
The bank raised the top end of its estimate of “reasonably possible” legal losses to about $3 billion from $2.5 billion. The estimate accounts for potential losses apart from what is already set aside in reserves, it said in a quarterly regulatory filing.
** HARMONY GOLD MINING CO, Friday close $2.42, -1.24 pct premarket
An underground fire broke out at the company’s Kusasalethu mine near Johannesburg on Sunday. The miner said it rescued all 486 miners trapped underground.
** ARMSTRONG WORLD INDUSTRIES INC, Friday close $54.8, +4.01 pct premarket
The construction materials maker said it would spin off its flooring business to concentrate on its ceilings unit. Armstrong World also reported lower-than-expected fourth-quarter revenue, hurt by lower sales in the Americas and a stronger dollar.
** BRISTOL-MYERS SQUIBB CO, Friday close $60.52
The company said it would buy privately held drugmaker Flexus Biosciences Inc for up to $1.25 billion to expand its pipeline of cancer drugs.
** OCWEN FINANCIAL CORP, Friday close $9.6, +7.50 pct premarket
** NATIONSTAR MORTGAGE HOLDINGS INC, Friday close $27.93, +4.01 pct premarket
Mortgage servicer Ocwen said it would sell a portfolio of residential mortgage servicing rights worth $9.8 billion to Nationstar Mortgage. The portfolio consists of about 81,000 performing loans owned by Freddie Mac.
** BOEING CO, Friday close $158.31, -2.09 pct premarket
Goldman Sachs downgraded the aircraft maker’s stock to “sell” from “neutral”, according to Theflyonthewall.com. Of 23 other analysts covering it, 15 have “buy” or higher ratings, while seven have “hold” and one has “strong sell”.
** DISH NETWORK CORP, Friday close $78.31, +0.11 pct premarket
The second-largest U.S. satellite TV company said founder and Chairman Charlie Ergen would step in as CEO when Joe Clayton retires on March 31.
** SPECTRUM PHARMACEUTICALS INC, Friday close $7.46, -24.93 pct premarket
A Nevada court ruled in favor of Novartis AG, deeming “invalid” two patents covering the cancer-focused biotech’s injection, Fusilev.
Roth Capital downgraded the stock to “neutral”, saying the company will be hurt by the increasing risk to the Fusilev revenue stream, and halved its price target to $7 from $15.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, Friday close $173.26, +8.06 pct premarket
** SALIX PHARMACEUTICALS LTD, Friday close $157.85, -0.92 pct premarket
Canada’s Valeant agreed to buy gastrointestinal drugmaker Salix for about $10.1 billion, the companies said on Sunday.
Cantor Fitzgerald raised its price target on Valeant’s stock to $214 from $184.
** HSBC HOLDINGS PLC, Friday close $46.68, -5.10 pct premarket
The bank reported a deeper-than-expected 17 percent slide in annual pretax profit and cut its earnings target, saying allegations its Swiss business had helped customers to dodge taxes had brought shame on it.
BREAKINGVIEWS-HSBC’s operating woes trump Swiss tax furore:
** TWENTY-FIRST CENTURY FOX INC, Friday close $35.3, +0.00 pct premarket
** DISCOVERY COMMUNICATIONS INC, Friday close $30.93, +3.10 pct premarket
Rupert Murdoch’s Twenty-First Century Fox, which like other broadcasters is battling a shift to on-demand TV, denied there had been any takeover talks with Discovery, owner of Animal Planet and the Discovery Channel, as reported by the Australian Financial Review.
** POLYPORE INTERNATIONAL INC, Friday close $52.95, +12.52 pct premarket
** 3M CO, Friday close $168.12, -0.04 pct premarket
Asahi Kasei Corp, a Japanese chemicals maker, said it would buy Polypore’s energy storage segment for $2.2 billion. 3M Co will buy the assets of Polypore’s Separations Media segment for about $1 billion and Asahi Kasei will receive the cash proceeds.
** CITIGROUP INC, Friday close $51.78, -0.31 pct premarket
** SPRINGLEAF HOLDINGS INC, Friday close $38.57
Citigroup is in advanced talks to sell its consumer finance unit OneMain Financial Holdings Inc to subprime lender Springleaf for more than $4 billion, people familiar with the matter said on Friday.
** ANGLOGOLD ASHANTI, Friday close $11.47, -2.88 pct premarket
Africa’s top bullion producer said it fell into a loss in the fourth quarter of last year because of costs associated with layoffs and restructuring at its key Ghana operation and accounting adjustments.
** BARRICK GOLD CORP, Friday close $12.89, -0.54 pct premarket
More than 2,000 unionized workers at the Lumwana copper mine owned by the Canadian company stopped work demanding to know what will happen to them when the company closes the business, a government official said.
** MCDONALD’S CORP, Friday close $94.19, -0.44 pct premarket
The fastfood chain and its franchisees may have few options but to begin raising hourly wages as an improving U.S. economy creates competition for good workers and as mega-employer Wal-Mart Stores Inc sets a higher bar on pay, according to labor experts. [ID;nL1N0VU1UC]
** GENERAL MOTORS CO, Friday close $37.65, -0.24 pct premarket
United Auto Workers President Dennis Williams, whose union indirectly controls the largest single block of GM shares, told Reuters an investor group’s proposal that GM buy back $8 billion of its stock is premature, and the amount too high for the company’s long-term health.
** GLOBE SPECIALTY METALS INC, Friday close $15.37
The silicon-alloy producer and Spain’s Grupo FerroAtlantica SA said they would merge to form a company controlled by FerroAtlantica shareholders. (Compiled by Sneha Banerjee in Bengaluru; Editing by Joyjeet Das)