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Sept 16 Some U.S. stocks on the move on Monday:
WALL ST RISES AS SUMMERS ENDS BID FOR FED CHIEF
Stocks rose sharply at the open on Monday as investors bet
that former Treasury Secretary Lawrence Summers' withdrawal as a
candidate for Federal Reserve chairman could mean slower
tapering of stimulus by the U.S. central bank. The Dow Jones
industrial average rose 147.17 points or 0.96 percent, to
15,523.23, the S&P 500 gained 15.44 points or 0.91
percent, to 1,703.43 and the Nasdaq Composite added
28.554 points or 0.77 percent, to 3,750.739.
** MICRON TECHNOLOGY INC, $16.59, up 2.3 pct (9:45
The chipmaker has seen nearly 30 percent of its PC-use DRAM
production capacity booked up by large clients, and its supply
available for other clients in September-December 2013 will
decrease significantly, the website digitimes.com reported
citing the Taiwan-based memory supply chain makers. (r.reuters.com/wak23v)
** COOPER TIRE AND RUBBER CO, $32.31, down 3 pct
(9:44 a.m. ET)
A U.S arbitrator said Cooper Tire and Rubber Co cannot sell
two of its factories in the country to India's Apollo Tyres
until a collective bargaining agreement is reached between
Apollo and members of the plants' union.
The decision could delay Apollo's plan to buy Cooper in a
debt-funded $2.5 billion deal, which is already facing
opposition at a factory in China.
** SOHU.COM INC, $67.50, up 4 pct (9:44 a.m. ET)
Tencent Holdings Ltd said on Monday that it will buy a 36.5
percent stake in Sohu.com Inc's Sogou search engine, China's
third-largest, to lift its presence in the fast-growing China
market for search and Internet services.
** BOISE INC, $12.61, up 27 pct (9:44 a.m. ET)
** PACKAGING CORP OF AMERICA, $57.42, up 5 pct (9:43
Packaging Corp of America said it would acquire
smaller rival Boise for about $1.28 billion to increase its
container board capacity. Packaging Corp's offer of $12.55 per
share represents a premium of 26 percent to Boise's .
** PLURISTEM THERAPEUTICS INC, $3.47, up 8 pct
(9:43 a.m. ET)
The Israel-based company said the U.S. Food and Drug
Administration lifted its clinical hold on a mid-stage trial of
the company's experimental drug for muscle pain. Pluristem said
the FDA allowed it to go ahead with the study, saying that
Pluristem had addressed all issues related to the hold.
** HUNTSMAN CORP, $19.80, up 3 pct (9:42 a.m. ET)
Brokerage KeyBanc Capital Markets raised its rating on the
chemical maker's stock to "buy" from "hold" on Friday, according
to theflyonthewall.com. Jefferies on Monday also upgraded
Huntsman to "buy", citing gains in 2014-2015 from its propylene
oxide-making joint venture with China's refiner Sinopec Corp
, which is expected to be completed by the
end of next year and its presence in Europe, among other things.
** BOEING CO, $113.63, up 2 pct (9:42 a.m. ET)
Top decision makers in South Korea's 8.3 trillion won ($7.64
billion) fighter jet tender have briefed the president on the
outcome of an assessment process and told her that Boeing Co's
F-15 Silent Eagle was the sole eligible bid, a source
with knowledge of the process told Reuters.
(Compiled by Varun Aggarwal)