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U.S. stock index futures are pointing to a solidly lower open on Monday, but if recent trends hold, investors may use the decline as an opportunity to add to positions. Dow Jones industrial average futures were down 0.63 percent at 16,922, S&P 500 futures were down 0.68 percent at 1,962.5 and Nasdaq 100 futures were down 0.72 percent at 4,016.75.
** AMBIT BIOSCIENCES CORP, Friday close $8.2, +87.44 pct premarket
The drugmaker said Daiichi Sankyo Co Ltd will buy the company for $410 million, or $15 per share in cash. The company said the deal includes Ambit’s lead blood cancer drug, quizartinib, which is currently in late-stage studies.
** TIBCO SOFTWARE INC, Friday close $19.51, +21.22 pct premarket
The business software maker said buyout firm Vista Equity Partners had agreed to take it private for $4.3 billion.
** ATHLON ENERGY INC, Friday close $46.73, +24.63 pct premarket
** ENCANA CORP, Friday close $21.13
Encana, Canada’s largest natural gas producer, said it would buy Athlon Energy for $5.93 billion in cash, excluding debt, as it accelerates its plan to focus on more-lucrative oil and natural-gas liquids (NGLs).
** TONIX PHARMACEUTICALS HOLDING CORP, Friday close $13.96, -44.84 pct premarket
The company said its lead pain drug had failed the main goal of a mid-stage study testing if it reduced pain experienced by patients by the 12th week of the trial.
** DREAMWORKS ANIMATION SKG INC, Friday close $22.36, +26.34 pct premarket
Japan’s SoftBank Corp is in talks to acquire DreamWorks, the Hollywood studio behind the “Shrek” and “Madagascar” movie hits, a person with knowledge of the situation said.
** ALIMERA SCIENCES INC, Friday close $4.925, +17.97 pct premarket
** PSIVIDA CORP, Friday close $4.29, +10.72 pct premarket
U.S. Food and Drug Administration approves the companies’ vision-loss treatment Iluvien after three rejections. PSivida said the approval entitles it to get milestone payment of $25 million.
** AMAG PHARMACEUTICALS INC, Friday close $23.18, +20.84 pct premarket
Amag said it would buy privately held women’s healthcare company Lumara Health Inc for $675 million in cash and stock, gaining access to the only approved product designed to reduce the risk of preterm birth.
** APPLE INC, Friday close $100.75, -1.44 pct premarket
The European Commission will publish on Tuesday its reasons for opening an in-depth inquiry into the Irish government’s tax treatment of Apple, a Commission spokesman said.
** FACEBOOK INC, Friday close $78.79, -0.56 pct premarket
Instagram, the popular photo-sharing service owned by Facebook, has been blocked in China, according to numerous reports, including from Hong Kong-based reporters with the New York Times.
** YAHOO INC, Friday close $40.66, +0.05 pct premarket
** AOL INC, Friday close $44.55, -0.22 pct premarket
Activist investor Starboard Value LP said on Friday it has acquired a “significant” stake in Yahoo and urged the internet company to explore a merger with AOL.
** CYTRX CORP, Friday close $2.78, +11.15 pct premarket
The drug developer said the U.S. Food and Drug Administration granted orphan drug status to its lead experimental drug to treat small cell lung cancer, ovarian cancer and brain cancer. The drug, Aldoxorubicin, is currently in late-stage trials under a Special Protocol Assessment with the FDA as a second-line treatment to evaluate safety and effectiveness in patients with cancerous tumors.
** LOCKHEED MARTIN CORP, Friday close $181.58, +0.24 pct premarket
The defense supplier said it will buy a European-built military communications satellite for South Korea as part of a $7 billion deal to supply Seoul with 40 F-35 fighter jets, in what industry observers call among the most unusual “offset” agreements ever to accompany a major arms sale.
** PUMA BIOTECHNOLOGY INC, Friday close $246.07, +0.58 pct premarket
The biopharmaceutical company said its experimental lung cancer drug was safe to be administered with an already approved treatment for the disease in a mid-stage study.
** EXXONMOBIL CORP, Friday close $95.43, -0.39 pct premarket
The U.S. oil company is suspending cooperation with Russia’s state-owned company Rosneft on offshore drilling in the Arctic due to sanctions, the daily Kommersant reported on Monday, citing unnamed sources.
** EXELIXIS INC, Friday close $1.56, +19.87 pct premarket
The cancer drug developer’s skin cancer drug cobimetinib combined with Genentech’s Zelboraf doubled the time before the disease worsened, compared to only Zelboraf. Exelixis is entitled to royalties from sales of the drug and as well as half the profits and losses.
** CROSS COUNTRY HEALTHCARE INC, Friday close $9.02
UBS raised its rating on the provider of healthcare recruiting and staffing services to “buy” from “neutral”, according to Theflyonthewall.com.
** PIONEER NATURAL RESOURCES CO, Friday close $196.6
The U.S. shale resources producer plans to double its U.S. exports of condensate, an ultra-light oil, to 50,000 barrels per day (bpd) next year, its chief executive said on Monday.
** UBS AG, Friday close $17.65, +0.28 pct premarket
UBS, Switzerland’s largest bank, warned it faced new fines after confirming it was holding talks to settle allegations it was involved in rigging foreign exchange rates.
** BRISTOL-MYERS SQUIBB CO, Friday close $51.1, +0.53 pct premarket
The drug maker’s immunotherapy drug Opdivo produced markedly improved response rates with fewer toxic side effects compared to chemotherapy in a major melanoma study, underscoring its potential as a new treatment option.
** PETROLEO BRASILEIRO SA, Friday close $16.46, -9.17 pct premarket
Petrobras’ 100,000 barrel per day (bpd) Pasadena, Texas refinery has shut its gasoline-producing fluidic catalytic cracking unit for a planned overhaul lasting between 20-25 days, a company spokeswoman said. (Compiled by Anannya Pramanick; Edited by Maju Samuel)