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June 24 (Reuters) - Some U.S. stocks on the move on Monday:
WALL ST FALLS TO TWO-MONTH LOW ON FED, CHINA WORRIES
U.S. stocks dropped to a two-month low, extending a slide asinvestors worried about the impact on equities from the FederalReserve's plan to exit its economic stimulus and a cash squeezein China that could hurt its economy. The Dow Jones industrialaverage was down 1.28 percent, the Standard & Poor's 500Index 1.64 percent and the Nasdaq Composite Index 1.52 percent.
** VANGUARD HEALTH SYSTEMS INC, $28.68, up 67 pct(0931 ET)
** TENET HEALTHCARE CORP, $43.64, up 4 pct (1415 ET)
U.S. hospital operator Tenet Healthcare said on Monday itwill buy smaller rival Vanguard Health Systems for about $1.73billion, putting it in a better position to benefit from theexpected millions of Americans about to get insurance underPresident Barack Obama's healthcare reform.
** WESTERN DIGITAL CORP, $58.88, down 2 pct (1046ET)
** STEC INC, $6.71, up 87 pct (1418 ET)
Hard drive maker Western Digital will buy troubled Stec tobecome one of the top players in the high-growth solid-statedrive (SSD) industry that has flourished despite high prices ofthe storage devices. The offer of $6.85 per share represents a91 percent premium to Stec's closing share price on Friday.
** KEYNOTE SYSTEMS INC, $19.80, up 46 pct (0932 ET)
The company, which provides web and mobile cloud monitoringtools, said it would be taken private by an affiliate of privateequity firm Thoma Bravo LLC for about $395 million in cash. The$20-per-share offer represents a 48 percent premium to thestock's closing price on Friday.
The company's stock has been down 4 percent since thebeginning of the year and trades at nearly 20 times forward12-month earnings, compared with a sector median of about 18.
** AK STEEL CORP, $3.12, down 6 pct (1542 ET)
The steelmaker said its shipments and financial resultswould be hurt in the current and the next quarter due to anoutage at its Ohio facility. AK Steel said it did not have aspecific estimate for total costs associated with the repair,but it expects uninsured losses of $10 million to $27.5 million.
** ISIS PHARMACEUTICALS INC, $27.06, up 23 pct (1047 ET)
The shares rose after the drugmaker said its experimentaldrug reduced triglycerides, a type of fat, in blood andincreased the level of "good" cholesterol.
** SOLAZYME INC, $10.83, down 14 pct (1047 ET)
The bioproducts company said it had agreed with RoquetteFrères SA, a food ingredient supplier, to dissolve their jointventure, which was set up to develop microalgae-based healthyfood ingredients and oils.
Solazyme said the venture was being terminated due todivergent views on an acceptable commercial strategy andtimeline for the manufacturing and marketing of joint ventureproducts.
** CELL THERAPEUTICS INC, $1.06, down 13 pct (0941ET)
Cell Therapeutics said the U.S. Food and Drug Administrationhas placed a partial clinical hold on the company's experimentalblood cancer drug after the death of a patient.
** JAMES RIVER COAL CO, $1.72, down 14 pct (1301ET)
** ARCH COAL INC, $3.5, down 10 pct (1301 ET)
** PEABODY ENERGY CORP, $14.83, down 7 pct (1301 ET)
** CONSOL ENERGY INC, $27.83, down 6.5 pct (1301 ET)
** ALPHA NATURAL RESOURCES INC, $5.07, down 7 pct(1301 ET)
** WALTER ENERGY INC, $10.94, down 14 pct (1307 ET)
President Barack Obama is expected to outline a climatechange plan on Tuesday centered around reducing pollution fromcarbon emissions. Obama's measures may include a strategy tolimit greenhouse gas emissions from existing coal-fired powerplants, which account for roughly 40 percent of U.S. carbondioxide emissions.
Walter Energy shares continued their slide, falling 16percent to touch a year low of $10.68 on Monday. Reuters LoanPricing Corp reported on June 14, citing sources, that WalterEnergy pulled a planned $1.55 billion credit refinancing.
** HALOZYME THERAPEUTICS INC, $6.75, up 10 pct(1414 ET)
Morningstar Inc analysts said Roche would continueto maintain a competitive advantage as sales of some of its keybreast cancer drugs, including Herceptin, were poised to grow.This boosted shares of Halozyme, which is entitled to royaltiesfrom the Swiss drugmaker on sales of Herceptin.
** CHIQUITA BRANDS INTERNATIONAL INC, $11.05, up 8.6pct (1010 ET)
BB&T Capital Markets upgraded the banana producer's stock to"buy' from "neutral," saying it expects the company's businessrestructuring to yield fruit in 2014 and grow operating margins.
** GOGO INC, $14.74, down 7.8 pct (1019 ET)
The in-flight WiFi provider's shares, which debuted on theNasdaq on Friday, continued to fall. The shares fell in theirmarket debut as investors questioned the company's highvaluation in the wake of a two-day slide in U.S. stocks. The IPOof 11 million shares was priced at the top of the company'splanned $15 to $17 range, valuing Gogo at about $1.5billion.
** WHITING PETROLEUM CORP, $44.65, down 3 pct (1032ET)
** BREITBURN ENERGY PARTNERS LP, $16.81, down 6 pct(1033 ET)
Whiting Petroleum said it would sell some oil and gasproperties in its enhanced oil recovery projects in TexasCounty, Oklahoma to BreitBurn for $859.8 million to raise moneyto develop its core assets.
** YAHOO INC, $24.05, down 5 pct (1059 ET)
The company's stock fell on what Topeka Capital Marketsanalyst Victor Anthony said was due to China shares' worst dailyloss in almost four years on Monday.
Yahoo owns about 24 percent in Alibaba Group Holding Ltd, China's largest e-commerce firm.
** ALLERGAN INC, $84.54, down 8.8 pct (1109 ET)
Sanford C. Bernstein analyst Aaron Gal said the U.S. Foodand Drug Administration's released draft guidance for genericRestasis -- Allergan's eye drops to treat chronic dry eyedisease -- would not be "prohibitively difficult" to execute.
Restasis is Allergan's second biggest drug and Gal said theFDA had "previously indicated clinical trials would be necessaryto obtain approval and such trials are prohibitively expensive."
** SPECTRUM PHARMACEUTICALS INC, $7.47, down 7 pct(1005 ET) Credit Suisse downgraded the company's stock to "underperform"from "neutral", saying near-term growth opportunities arelimited, and it sees a risk to the company's outlook on itscolon cancer drug, Fusilev. The drug's second-quarter sales andsecond-half run rate are likely to disappoint, the brokeragesaid. The company last month reaffirmed its annual salesforecast of about $80-$90 million for Fusilev.
** PULTEGROUP INC, $17.93, down 5 pct (1128 ET)
** HOVNANIAN ENTERPRISES, $5.25, down 6 pct (1128ET)
Goldman Sachs started coverage of the two stocks with a"sell" rating, citing the homebuilders' exposure to slowergrowth markets and low investments.
** SAKS INC, $13.83, up 3.2 pct (1047 ET)
The department store operator is a serious acquisitiontarget of Canadian firm Hudson Bay Co, according toretail news website Women's Wear Daily. (http://r.reuters.com/tef29t)
** ROVI CORP, $22.22, down 5.8 pct (1102 ET)
Pacific Crest cut its rating on the digital media serviceprovider's stock to "underperform" from "sector perform", sayingthe value of Rovi's patents could be deteriorating, which couldaffect its ability to generate patent licensing revenue.
** KKR & CO LP, $17.80, down 4.8 pct (1048 ET)
Funds managed by KKR will buy clinical research group PRAInternational from Genstar Capital LLC for an undisclosedamount, PRA said on Monday, underscoring growing private equityinterest in the contract research industry.
** FACEBOOK INC, $23.58, down 4 pct (0940 ET)
The social network has inadvertently exposed 6 millionusers' phone numbers and email addresses to unauthorized viewersover the past year, it disclosed late on Friday.
** BARRICK GOLD CORP, $15.88, down 6 pct (1048 ET)
The gold producer will lay off up to a third of itscorporate staff at its headquarters in Toronto and otheroffices, sources said, as the world's top bullion producerintensifies a downsizing plan amid a slump in the price of gold.
** RANDGOLD RESOURCES LTD, $63.88, down 4 pct (0940ET)
** FREEPORT-MCMORAN COPPER AND GOLD INC, $27.30,down 4.5 pct (1044 ET)
** GOLDCORP INC, $23.55, down 4 pct (0946 ET)
** ROYAL GOLD INC, $44.80, down 3 pct (0947 ET)
** NEWMONT MINING CORP, $29.11, down 3 pct (0949 ET)
** IAMGOLD CORP, $4.24, down 2.75 pct (0949 ET)
** YAMANA GOLD INC, $9.18, down 3 pct (0950 ET)
Goldman Sachs cut its year-end 2013 gold price forecast to$1,300 an ounce from $1,435, citing a decline in U.S. interestrates as the U.S. Federal Reserve prepares to scale down itsstimulus program.
** AMERICAN INTERNATIONAL GROUP INC, $42.30, down 3pct (1400 ET)
AIG's unit extended the date for a Chinese consortium to getregulatory approvals to buy the airplane-leasing business tillJuly 31. AIG announced the deal to sell International LeaseFinance Corp last December for $4.8 billion to a consortiumincluding New China Trust, one-fifth owned by Barclays Plc, China Aviation Industrial Fund and P3 Investments Ltd.
** REVLON INC, $20.90, up 6.8 pct (1232 ET)
The cosmetics maker is valued at a steep discount to rivalssuch as Estée Lauder, L'Oréal, and the newlypublic Coty and could get as much as $40 per share ifit were being taken over, according to a report by businessweekly Barron's on Saturday. (http://r.reuters.com/keg29t)
** APPLE INC, $402.32, down 2.7 pct (1049 ET)
Chief Executive Tim Cook's one-time stock award worth over$413 million as of Friday is now partly subject to theperformance of the shares, a move that followed discussions withthe company's largest shareholders.
** ORAMED PHARMACEUTICALS INC, $7.12, up 5 pct(0949 ET)
The Israeli drugmaker on Friday pulled a proposed publicoffering of its common stock due to adverse market conditions.Its stock had lost 36 percent in four days until Thursday.
Oramed is slated to present an abstract titled 'Doseresponse to oral insulin capsules in fasting, healthy subjects,'at the American Diabetes Association from Monday through Friday.
** KANDI TECHNOLOGIES GROUP INC $6.82, up 2 pct(1301 ET)
The Chinese electric car maker refuted a short seller'sallegations that the stock would take a hit from the companyhaving to raise money to pay off a short-term loan. The companysaid on Monday it had already repaid the $22 million notes itowed to the Ping An Bank. (Compiled by Kanika Sikka; Editing by Maju Samuel)
