Advertisement
UK markets closed
  • NIKKEI 225

    38,202.37
    -632.73 (-1.63%)
     
  • HANG SENG

    18,313.86
    -165.51 (-0.90%)
     
  • CRUDE OIL

    78.80
    +0.42 (+0.54%)
     
  • GOLD FUTURES

    2,324.90
    +0.70 (+0.03%)
     
  • DOW

    38,969.98
    +85.72 (+0.22%)
     
  • Bitcoin GBP

    50,059.73
    -735.03 (-1.45%)
     
  • CMC Crypto 200

    1,323.77
    +29.10 (+2.25%)
     
  • NASDAQ Composite

    16,286.72
    -45.84 (-0.28%)
     
  • UK FTSE All Share

    4,544.24
    +21.25 (+0.47%)
     

MARKET PULSE- Facebook, AMD, Netflix, Coronado Biosciences, Mannkind

(For more market insights, including options activity, click on ; for the Day Ahead newsletter http://link.reuters.com/mex49s)

U.S. stocks fell at the open on Monday as traders focused on events in Washington after weekend talks between Republicans and Democrats left the risk of a possible U.S. default alive.

The Dow Jones industrial average was down 0.61 percent. The Standard & Poor's 500 Index was down 0.62 percent while the Nasdaq Composite Index was down 0.61 percent.

** FACEBOOK INC (NasdaqGS: FB - news) , $48.28, down 1.7 pct (9:31 a.m. ET)

The social networking company said it would buy start-up app-maker Onavo, the Israeli firm said on its website, without giving any details of the deal. Facebook is paying between $150 million and $200 million, the Calcalist financial news website reported, making it the social media company's biggest acquisition in Israel (Other OTC: IRLCF - news) .

ADVERTISEMENT

** NETFLIX INC (NasdaqGS: NFLX - news) , $309.35, up 2.8 pct (9:31 a.m. ET)

The company is in talks with several U.S. cable television companies including Comcast Corp and Suddenlink Communications to make its streaming video service available through their set-top boxes, the Wall Street Journal reported on Sunday, citing people familiar with the matter.

** CORONADO BIOSCIENCES INC (NasdaqCM: CNDO - news) , $1.81, down 69 pct (9:41 a.m. ET)

The company said its treatment for Crohn's disease, a type of inflammatory bowel disease, failed the main goal of improving patients' response to the disease in a mid-stage study.

** MERCK & CO INC, $46.92, down 0.8 pct (9:31 a.m. ET)

The German drugs and healthcare group is in talks with external investors including private equity firms to share the cost of some clinical trials, the Financial Times reported, citing a senior manager at the company.

** ADVANCED MICRO DEVICES (NYSE: AMD - news) , $3.87, up 1 pct (9:31 a.m. ET)

Brokerage Wedbush Securities upgraded the chipmaker's stock to "outperform" from "neutral," saying AMD will benefit from the launch of gaming consoles in the near term. The brokerage also expects the company to gain market share in servers. Wedbush raised its price target on the stock to $5.00 from $4.50.

** NEWMONT MINING CORP, $25.90, up 1 pct (9:32 a.m. ET)

HSBC Securities raised its price target on the gold miner's stock to $37.30 from $36.50, maintaining its "overweight" rating.

Spot gold prices rose 0.7 percent to $1,281.96 an ounce by 1135 GMT on Monday as the U.S. fiscal impasse remained unresolved.

** ARCELORMITTAL SA, $15.22, up 2 pct (9:32 a.m. ET)

Analysts at Macquarie Equities Research raised their rating on the world's largest steelmaker's stock to "outperform" from "neutral," according to Theflyonthewall.com.

** EXPEDIA INC (NasdaqGS: EXPE - news) , $49.25, down 5 pct (9:33 a.m. ET)

Deutsche Bank (LSE: 0H7D.L - news) cut its rating on the online travel agency's stock to "hold" from "buy," according to Theflyonthewall.com.

** PEABODY ENERGY CORP (NYSE: BTU - news) , $17.31, down 0.5 pct (9:33 a.m. ET)

The company said it had temporarily shut down operations at its Metropolitan coal mine in Queensland, Australia, pre-empting a planned strike by workers after a stand-off over a new employment contract.

** GENERAL MOTORS CO, $34.99, down 1 pct (9:34 a.m. ET)

** TESLA MOTORS INC (Xetra: A1CX3T - news) , $176.12, down 1 pct

General Motors (NYSE: GM - news) will go head to head with electric car maker Tesla Motors starting in January, when a plug-in version of its luxury Cadillac brand will go on sale. GM said its 2014 Cadillac ELR plug-in coupe will have a starting price of almost $76,000 including delivery fees - putting it in competition with the similarly priced Tesla Model S.

** SUPERIOR ENERGY SERVICES INC (NYSE: SPN - news) , $25.59, down 1 pct (9:35 a.m. ET)

The oilfield services company said it expected third-quarter earnings to fall to between 39 cents and 41 cents per share from 59 cents a year earlier due to a slowdown in land drilling in the United States. Superior Energy also said its board authorized a share buyback program of up to $400 million.

** MANNKIND CORP (NasdaqGM: MNKD - news) , $5.23, up 2 pct (9:35 a.m. ET)

The drugmaker resubmitted the application for approval to its insulin therapy, Afrezza, to the U.S. health regulator based on clinical development data, including the results of two recent late-stage trials in patients with type 1 and type 2 diabetes, respectively.

The drug device, designed to improve glycemic control, comprises the Afrezza inhalation powder and an inhaler to administer it.

** ARATANA THERAPEUTICS INC (NasdaqGM: PETX - news) , $24.99, up 6 pct (9:36 a.m. ET)

The pet medication products maker said it would buy privately-held Vet Therapeutics Inc in cash and stock to expand in products to treat lymphoma in dogs. The company will pay $30 million in cash and issue about 625,000 shares to buy Vet Therapeutics.

** ARIAD PHARMACEUTICALS INC (NasdaqGS: ARIA - news) , $4.07, down 4 pct (9:37 a.m. ET)

The U.S. Food and Drug Administration said it is investigating an increasing number of reports of serious and life-threatening adverse events in patients taking the company's leukemia drug, Iclusig. (Compiled by Sneha Banerjee in Bangalore; Editing by Kirti Pandey)