November 14, 2016 / 12:47 PM / a year ago

BUZZ-U.S. STOCKS ON THE MOVE-Dynavax, Corbus Pharma, Harman, Mentor Graphics

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, here ; for the Morning News Call newsletter, here ) Dow futures were higher on Monday, after the index capped off its best week since 2011 following Donald Trump's unexpected victory in the U.S. presidential election.

Dow Jones Industrial Average futures were up 0.32 percent at 18,848, S&P 500 futures were up 0.12 percent at 2,164 and Nasdaq 100 futures were down 0.02 percent at 4,747.25.

** MENTOR GRAPHICS CORP, Friday close $30.68, +19.98 pct premarket

Siemens agreed to buy the U.S.-based maker of software for designing semiconductors in a $4.5 billion cash deal that will further enhance the German engineering group’s industrial software capabilities. Siemens said it would pay $37.25 per share for Mentor Graphics.

BREAKINGVIEWS-Siemens pays full price for extra pixels

** HARMAN INTERNATIONAL INDUSTRIES, Friday close $87.65, +24.47 pct premarket

Samsung Electronics announced an $8 billion deal on Monday to buy the Stamford, Connecticut-based maker of connected car and audio systems, marking a major push into the auto electronics market. Samsung agreed to acquire Harman for $112 per share in cash.

BREAKINGVIEWS-Samsung buys $8 bln shortcut to smart car market

** DYNAVAX TECHNOLOGIES CORP, Friday close $11.6, -69.40 pct premarket

The FDA rejected Dynavax’s marketing application for its hepatitis B vaccine Heplisav-B.

** CORBUS PHARMACEUTICALS HOLDINGS INC, Friday close $5.85, +121.37 pct premarket

The company said its lead drug outperformed a placebo in a mid-stage study involving patients with a form of systemic sclerosis, an incurable autoimmune condition caused by abnormal growth of connective tissue.

** PFIZER INC, Friday close $32.59, +0.95 pct premarket

Pfizer’s Celebrex arthritis drug was shown to be at least as safe as the widely used prescription-strength versions of painkillers ibuprofen and naproxen, and does not appear to cause heart problems that spurred the withdrawal of rival Vioxx, according to a large 10-year study presented on Sunday.

** KATE SPADE & CO, Friday close $16.62, untraded premarket

U.S. hedge fund Caerus Investors urged Kate Spade to sell itself, saying it was concerned about the handbag and accessories maker’s underperformance.

** JOHNSON & JOHNSON, Friday close $118.47, untraded premarket

** ABBVIE INC, Friday close $63.10, untraded premarket

J&J said its experimental sirukumab treatment for rheumatoid arthritis showed mixed results against AbbVie’s top-selling Humira in a large trial.

** UNITED STATES STEEL CORP, Friday close $25.71, +3.93 pct premarket

** AK STEEL HOLDING CORP, Friday close $7.5, +2.93 pct premarket

Morgan Stanley upgraded the stock of the two steel companies to “overweight” from “equal-weight”. The brokerage raised its price target on U.S. Steel to $46 from $19 and on AK Steel to $11 from $5.

** AMAYA INC, Friday close $13.6, +4.78 pct premarket

Amaya’s former CEO, David Baazov, has offered to buy the Canadian online gambling company in a deal valued at about C$3.48 billion ($2.56 billion). The offer price of C$24 per share represents a premium of 30.9 percent to Amaya’s Friday close of C$18.34. (Compiled by Laharee Chatterjee; Editing by Savio D‘Souza)

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