April 27, 2015 / 1:18 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Akorn, Celladon, Mylan

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) Wall Street opened higher on Monday after the Nasdaq and S&P 500 chalked up record high closes on Friday and ahead of Apple Inc's results after markets close. The Dow Jones industrial average was up 0.19 percent at 18,114.67, the S&P 500 was up 0.14 percent at 2,120.71 and the Nasdaq Composite was up 13.29 points, or 0.26 percent, to 5,105.37

** MYLAN NV, $72.69, -4.43 pct


Mylan rejected Teva Pharmaceutical’s unsolicited $40 billion takeover offer, saying it “grossly undervalues” the company.

** PERRIGO COMPANY PLC, $195.03, +1.11 pct

B.Riley downgraded the Dublin-based drug company, which Mylan is trying to buy, to “neutral” from “buy”.

** CELLADON CORP, $2.997, -78.09 pct

Data showed that the gene therapy developer’s sole therapy in development, Mydicar, failed a key trial in patients with heart failure, leaving company “surprised and very disappointed.”

** PERFECT WORLD CO LTD, $19.24, +3.89 pct

The Chinese game developer said on Sunday that it would be taken private by Perfect Peony Holding Co Ltd at a premium of 28.2 percent to Perfect World’s Dec. 31 closing price of $15.76 per American Depositary Share.

** APPLIED MATERIALS INC, $20.12, -7.71 pct

Applied Materials Inc and Tokyo Electron Ltd said they have given up plans to merge in a deal that would have been worth more than $10 billion, citing problems in getting approval from U.S. antitrust regulators.

** AKORN INC, $45.1799, -18.21 pct

The generic drug maker said it may not be able to file its first-quarter results on time and added it would restate its financial statements for the second, third and fourth quarters and the full year of 2014 as some errors were identified during the first-quarter financial review process.

** 3D SYSTEMS, $26.35, -3.23 pct

** STRATASYS, $50.19, -2.12 pct

At least two brokerages downgraded and four cut their price targets on 3D Systems’ stock after the 3D-printer maker estimated first-quarter revenue and profit below average forecasts on Friday.


The company formed out of Burger King’s takeover of Canadian coffee and doughnut chain Tim Hortons last year, said its loss narrowed in the first quarter compared with the fourth quarter of 2014.

** LSB INDUSTRIES INC, $46.82, +4.81 pct

The chemical and climate control products maker would split chemicals and climate control units after pressure from activist shareholder Starboard Value LP.

** IGATE CORP, $47.462, +3.52 pct

French IT services company Cap Gemini SA said it planned to buy United States-based IGATE for $4 billion to make North America, its biggest market, and is raising its sales forecast for 2015 after a solid first quarter.

** MARVEL TECHNOLOGY GROUP LTD, $14.013, -2.04 pct

The chipmaker cut its first-quarter revenue forecast to $710 million-$740 million from $810 million-$830 million, citing lower-than-expected demand from personal computer and storage markets and from emerging markets.

** DEUTSCHE BANK, $32.8, -4.26 pct

The German bank’s biggest strategic overhaul under co-chief executives Anshu Jain and Juergen Fitschen got a thumbs down from investors on Monday who judged it too little too late.

** NOVO NORDISK A/S, $57.4, +1.32 pct

Barclays raised its price target on the drugmaker’s shares to 448 DKK ($65) from 395 DKK.

** ICICI BANK LTD, $10.119, -0.40 pct

India’s biggest private sector lender by assets said it expected the new financial year to be better in terms of bad loans, after reporting an increase in sour assets in its fiscal fourth quarter. (Compiled by Avik Das in Bengaluru; Editing by Joyjeet Das)

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