June 29, 2015 / 1:44 PM / in 2 years

BUZZ-U.S. STOCKS ON THE MOVE-European stocks, U.S. banks, Vitae Pharma

(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 opened sharply lower on Monday as Greek bailout talks failed, raising concerns that the country could exit the euro zone. The Dow Jones industrial average was down 0.75 percent at 17,812.56, the S&P 500 was down 0.68 percent at 2,087.14 and the Nasdaq Composite was down 0.85 percent at 5,037.527.

** NATIONAL BANK OF GREECE, $0.983, -23.20 pct

** DEUTSCHE BANK AG, $30.74, -4.68 pct

** NOKIA, $6.94, -4.01 pct

** TOTAL SA, $50.31, -3.42 pct

** TELECOM ITALIA, $10.15, -4.06 pct

** BANCO SANTANDER SA, $7.11, -5.58 pct

European ADRs traded lower as the Greek turmoil spilt over across the Atlantic. Greece closed its banks and imposed capital controls on Sunday to check the growing strains on its crippled financial system.

** JPMORGAN CHASE & CO, $67.76, -1.73 pct

** CITIGROUP INC, $55.4, -1.67 pct

** GOLDMAN SACHS GROUP INC, $210.14, -1.42 pct

** MORGAN STANLEY, $38.97, -1.34 pct

** BANK OF AMERICA CORP, $17.16, -1.44 pct

** WELLS FARGO & CO, $57.04, -0.70 pct

Wall Street banks’ shares fell as concerns over Greece mount. Greeks struggled to adjust to shuttered banks, closed cash machines and a climate of rumors and conspiracy theories on Monday as breakdown in talks between Athens and its creditors plunged country deep into crisis.

** VITAE PHARMACEUTICALS INC, $13.8501, -8.82 pct

The company said its drug to treat Type 2 diabetes in overweight patients did not meet its main goal in a mid-stage study testing it as an add-on therapy.

** SYSCO CORP, $38, -0.96 pct

The food distribution company said it terminated a $3.5 billion deal to buy US Foods Inc after a U.S. District Court granted the Federal Trade Commission’s request for a preliminary injunction to block the deal.

** KONGZHONG CORP, $7.42, +5.55 pct

The Chinese game developer said a CEO-led group proposed to take the company private.

The offer of $8.56 per ADS is at a premium of 21.8 percent to KongZhong’s Friday close and values the company at about $401 million.

** MCEWEN MINING INC, $0.9387, +0.40 pct

H.C. Wainwright & Co started coverage of the stock with a “buy” rating and $1.30 price target. It is the first brokerage to cover the stock.

“We believe McEwen is in the unique position to maintain profitability in the current gold and silver price environment,” analysts wrote in a note.

** ARATANA THERAPEUTICS INC, $14.81, +10.19 pct

The animal health drug maker said on Friday that its experimental appetite-stimulating drug was found effective in dogs in a pivotal study.

** MICRON TECHNOLOGY INC, $19.37, -1.48 pct

Mizuho Securities USA cut its rating on the chip maker’s stock to “neutral” from “buy” and cut its price target to $30 from $37. Mizuho analysts said higher-than-expected transition costs for Micron’s 20nm and advanced DRAM chips could compound a PC headwind over the next 2-3 quarters.

** TWITTER INC, $34.88, -1.08 pct

Rishi Garg, The company’s vice president of corporate development and strategy, has resigned to pursue other projects, technology blog Re/code reported on Friday, citing a tweet from Garg.

** AMAG PHARMACEUTICALS INC, $68.663, -2.41 pct

The company said it would buy the largest newborn stem cell bank in the world for $700 million in cash and stock to strengthen is maternal health business, in its biggest deal ever.

** CARLYLE GROUP LP, $28.16, -1.33 pct

The private equity firm said on Monday it agreed to pay $115 million for an 18.5 percent stake in Chinese company JIC Leasing Co Ltd, the firm’s second investment in China in two days. (Compiled By Manya Venkatesh in Bengaluru; Editing by Simon Jennings)

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