(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 was set to open higher on Monday after euro zone leaders reached an agreement with Greece to move forward with a third bailout loan for the country to avert bankruptcy.
Dow Jones industrial average futures were up 0.79 percent at 17,808, S&P 500 futures were up 0.69 percent at 2,083.25 and Nasdaq 100 futures were up 0.85 percent at 4,445.75.
** APPLE INC, Friday close $123.28, +1.30 pct premarket
Socgen upgraded the company’s stock to “buy” from “hold” citing an expected successful launch of the new iPhone 6S handset in September.
** REMY INTERNATIONAL, Friday close $20.53, +42.33 pct premarket
** BORGWARNER INC, Friday close $53.63, +0.71 pct premarket
Auto parts supplier BorgWarner said it would buy Remy, a maker of electric and hybrid motors, for about $950 million to better compete in the fast-growing market for electric and hybrid vehicles. BorgWarner’s offer is worth $29.50 per Remy share.
** CELSUS THERAPEUTICS PLC, Friday close $0.49, +22.45 pct premarket
The drug developer said it would buy privately held Volution Immuno Pharmaceuticals SA in an all-stock deal to create a company focused on developing treatments for a range of rare and orphan autoimmune and inflammatory diseases.
** ANACOR PHARMACEUTICALS INC, Friday close $84.61, +38.87 pct premarket
The biopharmaceutical company said data showed its experimental ointment to treat an itchy skin condition met the main goal of late-stage studies.
** MARKWEST ENERGY PARTNERS LP, Friday close $59.75, +14.83 pct premarket
** MPLX LP, Friday close $69.05, -8.54 pct premarket
** MARATHON PETROLEUM CORP, Friday close $54.49, +7.71 pct premarket
MPLX LP, Marathon Petroleum’s master limited partnership (MLP), will buy natural gas processor MarkWest Energy for about $15.63 billion, a deal that will create the fourth-largest MLP by market value. The offer is worth $78.64 per MarkWest share.
** ASCENA RETAIL GROUP INC, Friday close $16.37, -11.73 pct premarket
The apparel and footwear retailer cut its full-year 2015 adjusted earnings from continuing operations forecast mainly due to lower-than-expected sales at Justice and dressbarn and to reflect the move to accelerate the planned merchandise transition at Justice.
** OHR PHARMACEUTICAL INC, Friday close $2.27, +22.91 pct premarket
Data from a final mid-stage trial showed the drug developer’s eye drop, Squalamine, in combination with Roche Holding AG’s Lucentis, was more effective than Lucentis alone, in some patients with macular edema, a sight robbing condition.
** AMERICAN AIRLINES, Friday close $41.21, +1.67 pct premarket
** DELTA AIR LINES, Friday close $42.46, +2.10 pct premarket
** SPIRIT AIRLINES, Friday close $63.28, +2.09 pct premarket
** JETBLUE AIRWAYS, Friday close $21.72, +1.98 pct premarket
** ALASKA AIR GROUP, Friday close $70.55, +2.00 pct premarket
** SOUTHWEST AIRLINES, Friday close $33.83, +2.28 pct premarket
** UNITED CONTINENTAL HOLDINGS, Friday close $55.51, +1.68 pct premarket
Airlines stocks rose after oil prices tumbled on Monday as Iran and six world powers closed in on a nuclear deal that would end sanctions on the Islamic Republic and let more Iranian oil on to world markets.
Delta will expand its alliance with Brazil’s Gol Linhas Aereas Intelligentes SA under a $446 million stock and loan agreement.
** BANK OF AMERICA CORP, Friday close $16.7, +1.50 pct premarket
** MORGAN STANLEY, Friday close $38.64, +1.40 pct premarket
** JPMORGAN CHASE & CO, Friday close $67.05, +0.97 pct premarket
** GOLDMAN SACHS GROUP INC, Friday close $207.19, +0.88 pct premarket
** WELLS FARGO & CO, Friday close $56.08, +0.87 pct premarket
Major U.S. banks’ shares rose after euro zone leaders reach agreement with Greece to move forward with third bailout loan for country to avert bankruptcy.
** APPLIED OPTOELECTRONICS INC, Friday close $16.91, +13.84 pct premarket
The networking component maker estimated second quarter revenue and profit would be higher than its forecast driven by strong demand for its CATV and datacenter products and shipping 40Gbs transceivers ahead of plan.
** PIONEER NATURAL RESOURCES CO, Friday close $134.46, +1.52 pct premarket
Morgan Stanley raised its rating on the oil and gas explorer’s stock to “overweight”.
** INGERSOLL-RAND PLC, Friday close $66.41, +1.39 pct premarket
Stifel raised its rating on the stock to “buy” from “hold” and set price target of $77.
** FITBIT INC, Friday close $42.1, +2.49 pct premarket
At least six brokerages started coverage of the wearable fitness-tracking device maker’s stock.
** IAMGOLD CORP, Friday close $1.83, -1.64 pct premarket
RBC downgraded the Canadian miner’s U.S.-listed stock to “underperform” from “sector perform” and cut its price target to $2.25 from $2.75.
** ARRIS GROUP INC, Friday close $30.85, -4.67 pct premarket
The network gear maker warned on second-quarter revenue and earnings, saying it was impacted by various pending industry consolidations and a strong dollar. The company said it would continue to feel the pinch for the rest of the year, and the deal to buy British set-top box maker Pace, still expected to close by Q4, will help counter industry conditions.
** E COMMERCE CHINA DANGDANG INC, Friday close $6.57, +3.20 pct premarket
The Chinese online book and media retailer said on Monday it would form an independent committee to evaluate its chief executive Guoqing Li and Chairwoman Peggy Yu Yu’s offer to take the company private.
** AUTONATION INC, Friday close $62.21, +2.20 pct premarket
Morgan Stanley raised it rating on the shares of the largest U.S. auto dealer to “overweight” from “underweight” and price target to $70 from $47.
** JARDEN CORP, Friday close $52.31, +2.37 pct premarket
The maker of Sunbeam appliances and Coleman outdoor gear, said it would buy disposable tableware maker Waddington Group for about $1.35 billion.
** EDWARDS LIFESCIENCES CORP, Friday close $147.16, +3.29 pct premarket
At least three brokerages raised their price target on the medical device maker’s stock after the company said on Friday it would buy privately held heart device maker CardiAQ Valve Technologies Inc for up to $400 million to expand its portfolio of less-invasive mitral valve replacement devices.
** SEAGATE TECHNOLOGY PLC, Friday close $45.95, -1.63 pct premarket
The storage company estimated fourth-quarter revenue and non-GAAP gross margin would be lower than it had forecast mainly due to lower-than-expected demand.
** AETNA INC, Friday close $114.6, +1.60 pct premarket
** HUMANA INC, Friday close $187.25, +0.50 pct premarket
U.S. insurance regulators and state attorneys general are lining up to scrutinize Aetna’s proposed $33 billion takeover of rival Humana’s for potential harm to consumers, complicating what is already expected to be a tough and lengthy review by federal antitrust authorities.
** CORNING INC, Friday close $19.28, -2.23 pct premarket
Bank of America Merrill Lynch downgraded the stock of the maker of Gorilla Glass for smartphones to “underperform” from “neutral” and slashed target price to $16 from $25 saying it thinks Wall Street’s estimates on the company are too high and overly bullish on fundamentals.
** UNITED TECHNOLOGIES CORP, Friday close $110.18, -0.16 pct premarket
** LOCKHEED MARTIN CORP, Friday close $194.19, +0.83 pct premarket
Lockheed is the leading candidate to buy United Technologies’ Sikorsky helicopter unit in a deal that could value the business at more than $8 billion, a source familiar with the situation said on Friday.
** PLATFORM SPECIALTY PRODUCTS CORP, Friday close $25.14, +2.43 pct premarket
The U.S. chemical maker said it would buy UK’s Alent Plc for about 1.35 billion pounds ($2.10 billion) in cash to expand its portfolio and save costs.
** BLACK HILLS CORP, Friday close $46.84, +0.92 pct premarket
The power company said on Sunday it signed a deal to buy natural gas utility company SourceGas Holdings LLC for about $1.9 billion.
** COMCAST CORP, Friday close $63.19, +0.30 pct premarket
The cable company said it is beta testing a new cable streaming service called Stream, which will broadcast live TV from HBO and about a dozen other networks for $15 per month. (Compiled by Anannya Pramanick in Bengaluru; Editing by Savio D’Souza)