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U.S. stock index futures sank on Monday after weekend talksbetween Republicans and Democrats failed to conclude anagreement to reopen the federal government and raise the limiton federal borrowing authority, which will be reached in threedays. S&P 500 futures fell 11.3 points and were belowfair value, a formula that evaluates pricing by taking intoaccount interest rates, dividends and time to expiration on thecontract. Dow Jones industrial average futures fell 97points and Nasdaq 100 futures lost 12.75 points.
** FACEBOOK INC, Friday close $49.11, down 1.5 pctpremarket
The social networking company said it would buy start-upapp-maker Onavo, the Israeli firm said on its website, withoutgiving any details of the deal. Facebook is paying between $150million and $200 million, the Calcalist financial news websitereported, making it the social media company's biggestacquisition in Israel.
** NETFLIX INC, Friday close $300.84, up 2.2 pctpremarket
The company is in talks with several U.S. cable televisioncompanies including Comcast Corp and SuddenlinkCommunications to make its streaming video service availablethrough their set-top boxes, the Wall Street Journal reported onSunday, citing people familiar with the matter.
** MERCK & CO INC, Friday close 47.29, down 1 pctpremarket
The German drugs and healthcare group is in talkswith external investors including private equity firms to sharethe cost of some clinical trials, the Financial Times reported,citing a senior manager at the company.
** ADVANCED MICRO DEVICES, Friday close $3.83, up 1pct premarket
Brokerage Wedbush Securities upgraded the chipmaker's stockto "outperform" from "neutral," saying AMD will benefit from thelaunch of gaming consoles in the near term. The brokerage alsoexpects the company to gain market share in servers. Wedbushraised its price target on the stock to $5.00 from $4.50.
** ARCELORMITTAL SA, Friday close $14.91, up 2.21 pctpremarket
Analysts at Macquarie Equities Research raised their ratingon the world's largest steelmaker's stock to "outperform" from"neutral," according to Theflyonthewall.com.
** EXPEDIA INC, Friday close $51.73, down 2 pctpremarket
Deutsche Bank cut its rating on the online travel agency'sstock to "hold" from "buy," according to Theflyonthewall.com.
** PEABODY ENERGY CORP, Friday close $17.40
The company said it had temporarily shut down operations atits Metropolitan coal mine in Queensland, Australia, pre-emptinga planned strike by workers after a stand-off over a newemployment contract.
** TORONTO-DOMINION BANK, Friday close $89.35
The Canadian bank is considering an 8 billion pound ($13billion) bid for Royal Bank of Scotland's Americanretail banking business Citizens, The Sunday Times reported,without citing sources.
** GENERAL MOTORS CO, Friday close $35.35, down 1 pctpremarket
** TESLA MOTORS INC, Friday close $178.70, up 1.6pct premarket
General Motors will go head to head with electric car makerTesla Motors starting in January, when a plug-in version of itsluxury Cadillac brand will go on sale. GM said its 2014 CadillacELR plug-in coupe will have a starting price of almost $76,000including delivery fees - putting it in competition with thesimilarly priced Tesla Model S.
** SUPERIOR ENERGY SERVICES INC, Friday close$25.87, down 3 pct premarket
The oilfield services company said it expected third-quarterearnings to fall to between 39 cents and 41 cents per share from59 cents a year earlier due to a slowdown in land drilling inthe United States. Superior Energy also said its boardauthorized a share buyback program of up to $400 million.
** MANNKIND CORP, Friday close $5.11, up 3.3 pctpremarket
The drugmaker resubmitted the application for approval toits insulin therapy, Afrezza, to the U.S. health regulator basedon clinical development data, including the results of tworecent late-stage trials in patients with type 1 and type 2diabetes, respectively.
The drug device, designed to improve glycemic control,comprises the Afrezza inhalation powder and an inhaler toadminister it.
** GILEAD SCIENCES INC, Friday close $62.69
Leerink Swann raised its price target on the drugmaker'sstock to $77 from $70, saying it was adding $1 billion to itsprevious 2014 sales estimate of $2 billion for the company'schronic hepatitis C drug, sofosbuvir. Leerink analysts cited alarge market opportunity for sofosbuvir in treating hepatitis Cvirus infection in liver transplant patients.
** ARATANA THERAPEUTICS INC, Friday close $23.49
The pet medication products maker said it would buyprivately-held Vet Therapeutics Inc in cash and stock to expandin products to treat lymphoma in dogs. The company will pay $30million in cash and issue about 625,000 shares to buy VetTherapeutics.
** THERAVANCE INC, Friday close $36.27
Cowen and Co analysts said a panel of respiratory experts at its Therapeutic Categories conference were enthusiastic aboutTheravance's respiratory drugs, including Anoro, which theyexpect "will take significant share away from drugs such asBoehringer's Spiriva." The analysts said they now expected salesof Theravance and GlaxoSmithKline Plc's co-developeddrugs, Breo and Anoro, to grow to $3 billion and $2.4 billion,respectively, by 2018.
** ARIAD PHARMACEUTICALS INC, Friday close $4.26,down 0.7 pct after market
The U.S. Food and Drug Administration said it isinvestigating an increasing number of reports of serious andlife-threatening adverse events in patients taking the company'sleukemia drug, Iclusig. (Compiled by Sneha Banerjee in Bangalore; Editing by KirtiPandey)
