February 21, 2017 / 4:52 PM / in 8 months

BUZZ-U.S. STOCKS ON THE MOVE-Kraft, Unilever, Cidara, Dryships

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U.S. stocks hit record intraday highs on Tuesday amid gains across sectors as strong earnings from top retailers underscored the strength of the U.S. economy.

The Dow Jones Industrial Average was up 0.32 percent at 20,690.88, the S&P 500 was up 0.37 percent at 2,359.78 and the Nasdaq Composite was up 0.24 percent at 5,852.442.

** KRAFT HEINZ CO, $93.51, -3.25 pct

** UNILEVER PLC, $44.82, -7.64 pct

** MONDELEZ INTERNATIONAL INC, $44.37, +4.40 pct

U.S. food company Kraft Heinz withdrew its proposal for a $143-billion merger with larger rival Unilever, the companies said on Sunday, raising questions about whether Kraft will turn its focus to another target.

Oreo cookie maker Mondelez is rumored to be a Kraft acquisition target.

** CIDARA THERAPEUTICS INC, $7.09, -39.40 pct

The biotech company said a mid-stage data on its experimental topical antifungal drug was not effective enough to justify further development in patients with a type of vaginal yeast infection called acute vulvovaginal candidiasis.

** DRYSHIPS INC, $3.32, -25.84 pct

The dry bulk shipper said it would sell up to $200 million of its shares to Kalani Investments Ltd.

** POPEYES LOUISIANA KITCHEN INC, $78.82, +19.21 pct

Restaurant Brands International Inc, owner of the Burger King and Tim Hortons fast-food chains, said it would acquire Popeyes Louisiana Kitchen PLKI.O for $1.8 billion in cash.

** WAL-MART STORES INC, $71.77, +3.46 pct

The retailer reported higher-than-expected global comparable sales, helped by a rise in online sales and higher traffic at Wal-Mart and Sam’s Club stores.

** TRONOX LTD, $18.11, +25.59 pct

The chemical maker said it would expand a business that makes titanium dioxide, a whitening pigment used in paints, paper and plastics with a $1.67 billion deal.

** FELCOR LODGING TRUST INC, $7.91, +9.41 pct

The luxury hotel REIT said Ashford Hospitality submitted a non-binding proposal to acquire FelCor for total consideration of $9.27 per share, which represents a 28 percent premium to FCH’s Friday’s close.

** EYEGATE PHARMACEUTICALS INC, $2.46, +49.70 pct

** VALEANT PHARMACEUTICALS INC, $16.20, +1.00 pct

The eye drug developer said it has given Valeant Pharmaceuticals International Inc commercial and manufacturing rights to EyeGate’s drug delivery technology as well as for its experimental drug, EGP-437, for use in post-operative pain and inflammation in ocular surgery patient.

** INTERPACE DIAGNOSTICS GROUP INC, $2.82, +3.68 pct

The provider of molecular diagnostic tests and pathology services announced a deal with cancer dialysis company Viatar CTC Solutions Inc to help assess indeterminate pancreatic cancer biopsies in patients with pancreatic cysts.

** TREVENA INC, $4.72, -33.87 pct

The drug developer said only some doses of its experimental opioid painkiller were found as effective as morphine in two late-stage studies, even though the drug outperformed a placebo, meeting its main study goals.

** CELLECT BIOTECHNOLOGY LTD, $6.72, +15.27 pct

The company reported positive data from its clinical trial of its stem cell technology, ApoGraft, in healthy donors of blood stem cells.

** DAKTRONICS INC, $8.72, -13.75 pct

The electronic display system maker reported lower-than-expected third-quarter revenue, hurt by a fall in sales in its live events business.

** FBR & CO, $18.70, +11.98 pct

** B. RILEY FINANCIAL INC, $16.40, -6.55 pct

B. Riley Financial Inc said it would buy the investment bank and brokerage in a deal valued at $160.1 million.

** FREEPORT-MCMORAN INC, $14.10, -5.47 pct

The U.S. mining giant warned on Friday it could take the Indonesian government to arbitration and seek damages over a contractual dispute that has halted operations at the world’s second-biggest copper mine.

** AMPHASTAR PHARMACEUTICALS INC, $15.32, -16.77 pct

The drugmaker said the U.S. Food and Drug Administration rejected its application to market an intranasal version of the emergency opioid-overdose treatment, naloxone.

** BRISTOL-MYERS SQUIBB CO, $53.58, -1.85 pct

The drugmaker said it appointed three directors to its board in a deal with activist investor Jana Partners LLC.

** COMMUNITY HEALTH SYSTEMS INC, $8.67, +25.65 pct

Mizuho Securities USA raised the hospital operator’s rating to “neutral” from “underperform” and price target to $7.50 from $3.00, after the company forecast a “reasonable” 2017.

** GENERAL MOTORS CO, $37.85, +1.69 pct

PSA Group, the maker of Peugeot and Citroen cars, will respect existing Opel and Vauxhall labor agreements if it buys the European arm of General Motors, PSA and Opel workers’ representatives said in a joint statement. (Compiled by Vishaka George in Bengaluru; Edited by Martina D‘Couto)

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