April 27, 2015 / 4:08 PM / in 3 years

BUZZ-U.S. STOCKS ON THE MOVE-Accuride, Apple, DuPont, Kosmos

(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) U.S. stocks rose on Monday morning with the S&P touching a new intraday high and the Nasdaq inching closer to its record intraday high ahead of Apple's results after the close. The Dow Jones industrial average was up 0.21 percent at 18,117.38, the S&P 500 was up 0.06 percent at 2,119.05 and the Nasdaq Composite was up 8.71 points, or 0.17 percent, at 5,100.80.

** APPLE INC, $132.7, +1.86 pct

Brean Capital started the iPhone maker’s stock with a “buy” rating and a target price of $160, ahead of the company’s second-quarter results scheduled after markets close.

The stock was the second-most traded on the Nasdaq.

** MYLAN NV, $72.7, -4.42 pct


** PERRIGO COMPANY PLC, $192.23, -0.34 pct

Mylan rejected the Israel-based company’s unsolicited $40 billion takeover offer, saying it “grossly undervalues” the company. It also said it was committed on its offer for Perrigo. B.Riley, meanwhile, downgraded the Dublin-based drug company to “neutral” from “buy”.

Mylan shares were among the 10 most traded on the Nasdaq.

** CELLADON CORP, $2.85, -79.17 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.”

The stock was the top percentage loser on the Nasdaq and among the five most traded.

** ALTERA CORP, $40.42, -1.15 pct

** INTEL CORP, $32.435, +1.11 pct

TIG Advisors LLC, an investment firm that holds shares in Altera, challenged its board nomination over its refusal to engage with Intel about a potential merger.

** DUPONT, $74.46, +4.11 pct

U.S. proxy advisory firm ISS recommended DuPont shareholders vote for activist investor Nelson Peltz and another nominee joining the chemical conglomerate’s board, the Wall Street Journal reported.

** KOSMOS ENERGY LTD, $9.57, +10.13 pct

The oil and gas producer said it discovered “significant” gas deposit at Tortue-1 exploration well in offshore Mauritania.

The stock was among the top five percentage gainers on the NYSE.

** ACCURIDE CORP, $4.5, -5.66 pct

The auto component maker reported a surprise first-quarter loss, hurt by a 14.2 percent fall in sales in its Gunite business, which makes wheel-end components.

The stock was among the top 10 percentage losers on the NYSE.

** AFFIMED NV, $9.82, -16.21 pct

The cancer drug developer filed for share offerings of up to $40.3 million. (1.usa.gov/1JKzXSg)

The stock was among the top five percentage losers on the Nasdaq.

** CAN-FITE BIOPHARMA LTD, $3.26, +51.63 pct

The Israeli drug developer reported promising analysis of late-stage trial data on an experimental psoriasis drug, codenamed CF101.

** TRUECAR INC, $16.01, +2.50 pct

Goldman Sachs upgraded the online car-shopping service provider’s stock to “buy” from “neutral”, citing faster traffic growth, ramped up advertising spend and higher U.S. new car sales.

** AKORN INC, $44.55, -19.35 pct

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

Piper Jaffray cut the stock to “neutral” and lowered its price target to $53 from $66, saying the restatement raised “credibility questions”. JPM cuts its price target to $58 from $61.

The stock was the second-biggest percentage loser on the Nasdaq and the third-most traded.

** PERFECT WORLD CO LTD, $19.17, +3.51 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, $20.1827, -7.42 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.

The stock was the most traded on the Nasdaq.

** 3D SYSTEMS, $26.22, -3.71 pct

** STRATASYS, $50.69, -1.14 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, $45.53, +1.93 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, $47.425, +3.44 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.

** DEUTSCHE BANK, $32.78, -4.32 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. (Compiled by Avik Das in Bengaluru; Editing by Joyjeet Das)

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