MARKET PULSE-Molex, MTR Gaming, Apple, Xerox, Hanwha Solarone
Sept. 9 (Reuters) - Some U.S. stocks on the move on Monday:
WALL STREET OPENS HIGHER AFTER CHINA DATA
U.S. stocks rose at the open in the wake of upbeat economic data from China, though concerns remained about the possibility of a Western strike against Syria and its impact on the global economy.
The Dow Jones industrial average rose 0.43 percent, the S&P 500 gained 0.42 percent and the Nasdaq Composite added 0.56 percent.
** MOLEX INC, $38.47, up 31 pct (9:51 a.m. ET)
The maker of electronic connectors and cable assembly products said privately owned energy and chemicals conglomerate Koch Industries would buy it for about $7.2 billion.
** MTR GAMING GROUP, $4.14, up 16 pct (9:47 a.m. ET)
The racetrack, gaming and hotel operator said it would be bought by privately held company, Eldorado Resorts, in a stock merger. Under the deal, MTR stockholders can choose to be paid in cash at $5.15 per share for up to 5.8 million shares. The remaining shares will be exchanged for shares in a combined new company. Eldorado will own 55 percent of the combined company, Eldorado Resorts Inc, which will be publicly traded.
** APPLE INC, $505.60, up 1.5 pct (9:31 a.m. ET)
Brokerage FBN Securities raised its price target on the company's stock to $600 from $575 in anticipation of Apple making an announcement of its iPhone 5S and iPhone 5C on Tuesday. The brokerage said it expected the phones to start shipping on Sept. 20. FBN sees the iPhone 5C as an opportunity for Apple to be successful in China.
** UNILIFE CORP, $3.64, up 18 pct (9:35 a.m. ET)
The medical device maker said it entered into a long-term contract to supply pre-filled syringes to Sanofi SA for use with Sanofi's thrombosis drug, Lovenox.
In addition to future revenue from the sale of the syringes, Unilife may receive up to $15 million from Sanofi in milestone payments, with $5 million expected in 2013. The contract period can extend up to 2024.
** QUIKSILVER INC, $6.95, up 1.5 pct (9:35 a.m. ET)
Credit Suisse raised its rating on the apparel and accessories retailer's stock to "outperform" from "neutral," according to Theflyonthewall.com.
** BROCADE COMMUNICATIONS, $7.73, up 3.6 pct (9:36 a.m. ET)
Brokerage RBC Capital Markets upgraded the network equipment maker's stock to "outperform" from "sector perform" as it expects strong demand for Brocade's Fiber Channel protocol. The brokerage also expects the company to buy back shares and possibly issue its first ever dividend. RBC raised its price target on the company's stock to $10 from $7. Brocade's Fiber Channel protocol based networking products are used to build storage area networks.
** XEROX INC, $10.10, up 0.7 pct (9:36 a.m. ET)
Commercial printer OTC Group said it bought the company's Xerox Automated Packaging Solution for iGen4 for its new digital folding carton packaging business. With this, OTC will be able to offer more digital folding carton packaging options to its customers in the consumer packaged goods, food and pharmaceutical industries.
** HANWHA SOLARONE CO LTD, $3.68, down 7 pct (9:45 a.m. ET)
The company, which makes silicon ingots, silicon wafers and photovoltaic modules in China, reported a smaller loss for the second quarter, but said it had no plans to add more capacity in the near term.
** SOLARCITY CORP, $29.08, down 1.8 pct (9:37 a.m. ET)
The U.S. solar installer, which is backed by Tesla Motors founder Elon Musk, said shareholder Paramount GR Holdings would sell 3.7 million shares of the company. SolarCity said last month that it would buy direct-marketing solar company Paramount Solar for about $120 million in a deal intended to help cut the cost of acquiring new customers.
** ONCOLYTICS BIOTECH INC, $2.82, up 6.4 pct (9:37 a.m. ET)
The company said its cancer drug, Reolysin, reduced the size of tumors in 92 percent of lung cancer patients in a mid-stage trial.
** ISIS PHARMACEUTICALS INC, $31.03, up 11 pct (9:38 a.m. ET)
Biogen Idec Inc has agreed to pay another $100 million upfront to the drugmaker as a part of a broad collaboration to develop new medicines for neurological disorders, the companies said.
** DELTA AIRLINES, $21.10, up 6 pct (9:38 a.m. ET)
The U.S. airline will join the S&P 500 index after the close of trading on Sept. 10, replacing BMC Software, Standard & Poor's said on Friday.
** BLACKBERRY LTD, $11.08, up 2.2 pct (9:39 a.m. ET)
The company's largest shareholder, Prem Watsa, has assembled billions in backing from Canada's biggest pension funds for a bid, The Sunday Times reported on Sunday. (link.reuters.com/caz82v)
Watsa is the founder and chairman of Fairfax Financial Holdings Ltd that holds about 10 percent stake in the company.
** SMITHFIELD FOODS INC, $34.18, up 0.8 pct (9:39 a.m. ET)
The U.S. Committee on Foreign Investment has cleared the way for Shuanghui International Holdings Ltd's proposed $4.7 billion acquisition of Smithfield Foods, the companies said.
** MULTIMEDIA GAMES HOLDING CO INC, $36.85, down 2 pct (9:56 a.m. ET)
Brokerage Janney Capital Markets cut its rating on the gaming machine maker's stock to "neutral" from "buy," citing a challenging 2014 for the whole gaming equipment industry.
** NETAPP INC, $42.71, up 1 pct (9:39 a.m. ET)
Brokerage UBS Investment Research raised its rating on the data storage equipment maker's stock to "buy" from "neutral," according to the website Theflyonthewall.com.
** SONY CORP, $21.24, up 1 pct (9:40 a.m. ET)
The electronics maker announced the Japanese release of its PlayStation 4 on Monday as the company braces for a gaming console war with Microsoft Corp that could make or break the Japanese firm's struggle to return to profit.
** TIME WARNER INC, $61.72, up 0.5 pct (9:42 a.m. ET)
The entertainment company is planning to transfer its U.S. retirees from company-sponsored health plans and move them to private insurance exchanges. According to an August memo obtained by Reuters, the media company will make allocations to a Health Reimbursement Arrangement account for retirees to use towards the purchase of coverage on an exchange. Previously, Time Warner provided an indirect subsidy through a supplementary Medicare program. (Compiled by Varun Aggarwal; Editing by Kirti Pandey)