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U.S. stock indexes rose on Monday on China’s move to boost its slowing economy and higher oil prices, putting the S&P 500 on track to post its first monthly gains this year. The Dow Jones industrial average was up 0.25 percent at 16,682.23, the S&P 500 was up 0.27 percent at 1,953.26 and the Nasdaq Composite was up 0.41 percent at 4,609.131.
** FEDERAL-MOGUL HOLDINGS CORP, $7.24, +45.38 pct
Billionaire Carl Icahn’s investment company offered to buy the 18 percent of the auto parts maker that it does not already own for about $213 million. The offer values the company at about $1.2 billion, based on its shares outstanding as on Sept. 30.
** INTREPID POTASH INC, $0.96, -56.76 pct
The miner said its auditor had expressed doubts about its ability to stay in business. The company, which reported its third straight quarterly loss, also said low potash prices could cause a breach in its loan covenants.
** ALDEYRA THERAPEUTICS INC, $5.03, +34.77 pct
The drug developer said its experimental eye drug was effective in patients with allergic conjunctivitis in a mid-stage study.
** TRIBUNE MEDIA CO, $35.98, +9.20 pct
The broadcasting company said it had initiated a process to explore strategic and financial alternatives. Tribune also reported better-than-expected fourth-quarter revenue and forecast 2016 sales above analysts’ estimates.
** CONSOL ENERGY INC, $8.46, +7.91 pct
The coal and natural gas producer said it would sell some of its coal assets for about $420 million and that it planned to suspend its quarterly dividend once the sale closes.
** TASER INTERNATIONAL INC, $19.63, +12.30 pct
The stun gun and wearable camera maker reported better-than-expected quarterly revenue and profit, helped by an about 15 pct rise in sales at its weapons division. The company also authorized a $50 million buyback program.
** LUMBER LIQUIDATORS HOLDINGS INC, $10.28, -7.47 pct
The beleaguered hardwood flooring retailer reported a bigger-than-expected drop in quarterly sales as it struggles to cope with falling demand after reports that some of its laminates contained excessive levels of cancer-causing formaldehyde. The company also named Dennis Knowles, a former executive of home improvement chain Lowe’s Cos Inc as its chief operating officer.
** UNITED NATURAL FOODS INC, $31.2301, -20.43 pct
The natural and organic food distributor estimated second-quarter revenue and adjusted profit below analysts’ expectations, citing “rapidly changing near term industry dynamics.” United Natural cut its 2016 sales and adjusted profit forecasts, based partly on its performance to date and excluding the deal to buy Haddon House Food Products Inc for about $217.5 million in cash.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $74.43, -7.71 pct
The Canadian drugmaker said on Sunday that Chief Executive Michael Pearson would return from medical leave effective immediately, and it postponed the release of fourth-quarter results planned for Monday.
** HORIZON PHARMA PLC, $17.57, -11.22 pct
The specialty drug maker said it was served a subpoena in November from U.S. Attorney's Office for Southern District of New York regarding its sales and marketing practices. The documents and information requested related to patient assistance programs and other aspects of Horizon's marketing and commercialization activities. (1.usa.gov/1WSbIIA)
** ENDO INTERNATIONAL PLC, $43.6, -17.64 pct
The drugmaker estimated its 2016 revenue below analysts’ estimates. The company said it expected to earn $5.85-$6.20 per share from continuing operations, lower than the average analyst estimate of $6.02.
Endo’s results are not bad enough to justify the stock movement, a trader told Reuters, adding that Valeant’s decision to delay reporting its quarterly numbers and Horizon’s subpoena were weighing on the stock.
** HERON THERAPEUTICS INC, $15.86, -15.32 pct
The U.S. Food and Drug Administration informed the drug developer that it had not concluded its review of the application for Heron’s injectable drug, Sustol, and could not yet provide an anticipated action date.
“We think this additional delay further increases speculation on issues related to whether FDA would approve the Sustol application,” Jefferies analysts wrote in a note.
** API TECHNOLOGIES CORP, $1.95, +93.07 pct
An affiliate of J.F. Lehman & Co offered $2 per share in cash for the radio frequency equipment maker, saying that “API has tremendous potential given its strong product portfolio and superior RF/microwave technology.”
** KERYX BIOPHARMACEUTICALS INC, $4.2, +15.38 pct
Analysts at FBR & Co raised their rating on the drugmaker’s stock to “outperform” from “market perform”. The stage is set for meaningful sales of Keryx’s kidney drug Auryxia in 2016 and potential label expansion, they wrote in a note.
** OCWEN FINANCIAL CORP, $4.5, -26.83 pct
The mortgage servicer reported a bigger-than-expected fourth-quarter loss, hurt by lower sales of mortgage servicing rights.
** SIGNET JEWELERS LTD, $109.56, +10.52 pct
The jeweler’s estimated fourth-quarter profit above analysts’ expectations, driven by “solid” demand in the holiday quarter. Signet also approved an 18 percent increase in its quarterly dividend to 26 cents per share and authorized a new share repurchase program of $750 million in addition to the $135 million remaining on existing authorization.
** QEP RESOURCES INC, $9.97, -7.34 pct
The oil and gas producer said it would offer 30 million shares, about 17 percent of the total outstanding shares. QEP said it would use the proceeds for general corporate purposes, including repaying debt, acquiring properties and funding a portion of its E&P activities and working capital.
** KEYW HOLDING CORP, $6.02, -6.96 pct
RBC Capital Markets analysts downgraded the cyber security software and hardware maker’s stock to “sector perform” from “outperform” and cut their price target to $7 from $11, after the company said last week it was “actively exploring” strategic alternatives for its Hexis Cyber Solutions unit as part of a strategic plan.
** TUNIU CORP, $10.68, -12.39 pct
The Chinese travel website posted a bigger quarterly loss, hurt by its “competitive pricing strategy” and higher costs.
** BROADSOFT INC, $36.78, +16.87 pct
The communications software maker reported higher-than-expected fourth-quarter profit and revenue as professional services revenue jumped three times to $23.6 million. The company also forecast first-quarter revenue above the average analyst estimate.
** STATOIL ASA, $14.69, +2.80 pct
** NATIONAL-OILWELL VARCO INC, $29.51, +2.43 pct
** BP PLC, $29.28, +0.97 pct
** SEADRILL LTD, $2.2, +16.40 pct
** ATWOOD OCEANICS INC, $7.07, +9.27 pct
** DENBURY RESOURCES INC, $1.285, +7.98 pct
** WHITING PETROLEUM CORP, $4.21, +8.51 pct
** ROWAN COS PLC, $13.59, +6.17 pct
** OASIS PETROLEUM INC, $5.6, +5.86 pct
** ENSCO PLC, $8.81, +4.76 pct
** NEWFIELD EXPLORATION, $27.38, +5.19 pct
Shares of oil and gas producers, related service providers and drillers rose as oil futures gained, adding to strong gains last week. Brent crude futures rose on increasing hopes that the market has bottomed out and as OPEC kingpin Saudi Arabia said it would work with other producers to limit oil market volatility.
** HARRIS CORP, $78.31, +2.31 pct
The U.S. defense supplier said it was among three companies awarded a multi-award contract by the U.S. Army with a ceiling of $12.7 billion.
** LATTICE SEMICONDUCTOR CORP, $6.445, +5.66 pct
The maker of programmable chips for mobile phones and tablets is exploring a sale that has attracted interest from a prospective Chinese buyer, according to people familiar with the matter. (Compiled by Ramkumar Iyer in Bengaluru; Editing by Kirti Pandey)