(For more market insights, including options activity, click on
; for the Day Ahead newsletter link.reuters.com/mex49s;
for the Morning News Call newsletter, link.reuters.com/nex49s)
Sept. 9 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
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.
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
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
** HANWHA SOLARONE CO LTD, $3.68, down 7 pct (9:45
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.
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
The company said its cancer drug, Reolysin, reduced the size
of tumors in 92 percent of lung cancer patients in a mid-stage
** 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.
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
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
** 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.
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
(Compiled by Varun Aggarwal; Editing by Kirti Pandey)