June 7, 2016 / 11:38 AM / in 2 years

BUZZ-U.S. STOCKS ON THE MOVE-Valeant, Sarepta, United Natural Foods

(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. stock index futures were higher on Tuesday, a day after Federal Reserve Chair Janet Yellen expressed confidence in the health of the economy, but was less hawkish on raising interest rates in the near-term. Dow Jones industrial average futures were up 0.30 percent at 17,969, S&P 500 futures were up 0.26 percent at 2,113.75 and Nasdaq 100 futures were up 0.31 percent at 4,539.75.

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, Monday close $28.85, -14.70 pct premarket

The Canadian drugmaker, under scrutiny for business and accounting practices, reported a lower-than-expected quarterly profit and cut its full-year earnings and revenue forecast.

** VERIZON COMMUNICATIONS INC, Monday close $50.71

** YAHOO INC, Monday close $37.07, -1.13 pct premarket

Verizon plans to submit a second-round bid of around $3 billion for Yahoo’s core internet business, the Wall Street Journal reported, citing people familiar with the matter.

** SAREPTA THERAPEUTICS INC, Monday close $16.05, +34.58 pct premarket

The drug developer said said the U.S. FDA has requested for additional data from an ongoing study for its muscle-wasting treatment as the agency decides whether to approve the drug or not.

** MERCK & CO, Monday close $57.17

** GILEAD SCIENCES INC, Monday close $87.6, +0.30 pct premarket

A U.S. judge on Monday found a pattern of misconduct by Merck including lying under oath and other unethical practices, freeing Gilead from paying any damages for infringing Merck’s patents with its lucrative treatments for hepatitis C, Sovaldi and Harvoni.

** AXIALL CORP, Monday close $23.3, +4.94 pct premarket

Lotte Chemical Corp is bidding for U.S. chemicals maker Axiall and Hanwha Chemical Corp flagged a likely U.S. deal, as cash-flush South Korean chemicals firms target acquisitions in a hunt for new revenue streams.

** UNITED NATURAL FOODS INC, Monday close $38.83, +9.45 pct premarket

The organic and fresh food distributor forecast better-than-expected FY 2016 sales as a result of the acquisitions of Nor-Cal, Global Organic, Haddon House Food Products.

** ALEXION PHARMACEUTICALS INC, Monday close $154.99, -11.50 pct premarket

The drugmaker said Soliris, already approved in the United States for the treatment of two rare blood disorders, missed its primary goal in a late-stage trial.

** GOLDMAN SACHS GROUP INC, Monday close $157.06

U.S. law enforcement officials are attempting to identify whether Goldman violated federal law after failing to flag a transaction in Malaysia, the Wall Street Journal reported, citing people it said were familiar with the investigation.

** INTERNATIONAL BUSINESS MACHINES CORP, Monday close $152.73, +0.43 pct premarket

IBM on Tuesday said it signed a $300 million, ten-year technology services agreement with Dubai’s Emirates Airline .

** ALIBABA GROUP HOLDING LTD, Monday close $78.06, +0.41 pct premarket

Alibaba Executive Chairman Jack Ma “very much hopes” that the e-commerce firm’s affiliate Ant Financial Services Group will list in Hong Kong, a spokeswoman for the online finance company quoted him as saying.

** TESLA MOTORS INC, Monday close $220.68, +0.55 pct premarket

Samsung SDI is making progress in talks with Tesla to supply batteries for the U.S. automaker’s Model 3 electric car as well as its energy storage products, a source with direct knowledge of the matter told Reuters.

** VIACOM INC, Monday close $45.43

Sumner Redstone’s National Amusements Inc amended the bylaws of Viacom to require unanimous approval from Viacom’s board for any deal related to Paramount Pictures, creating a new hurdle for Chief Executive Philippe Dauman’s plan to sell a stake in the movie studio. (Compiled by Sruthi Shankar in Bengaluru; Editing by Maju Samuel)

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