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BUZZ-U.S. STOCKS ON THE MOVE-Conn's, Lorillard, GW Pharma, DryShips

Tue, 31st Mar 2015 13:25

(For faster updates on individual market-movers, Eikon usersplease use search string "STXBZ US"; for the Day Aheadnewsletter, http://link.reuters.com/mex49s; for the Morning NewsCall newsletter, http://link.reuters.com/nex49s)U.S. stock were poised to open lower on Tuesday, indicating amodest retreat from the previous session's rally, though the S&P500 remained on track for its ninth straight quarterly rise. DowJones industrial average futures were down 0.49 percentat 17,772, S&P 500 futures were down 0.47 percent at2,065.75 and Nasdaq 100 futures were down 0.33 percent at4,358.

** CONN'S INC, Monday close $28.67, -2.34 pctpremarket

The electronics rent-to-own retailer reportedbetter-than-expected fourth-quarter revenue and said it isactively pursuing the sale of all or part of its loan portfolioor other refinancing of its loan portfolio. The company is alsodiscontinuing sales of video games, digital cameras and certaintablets from year started February, due to higher charge-offrates and lower product margins.

** GW PHARMA PLC, Monday close $88.4, +3.47 pctpremarket

The British maker of cannabis-based drugs said ithas started the second leg of a mid-stage trial testingEpidiolex to treat Dravet syndrome, a rare, treatment-resistantform of childhood epilepsyelectronics. Data from the trial isexpected at end of year and GW expects to submit a marketingapplication to the FDA in mid-2016. Epidiolex will also undergolate-stage testing to treat Lennox-Gastaut syndrome.

** DRYSHIPS INC, Monday close $0.81, +3.70 pctpremarket

The drybulk shipper agreed to sell its four Suezmax tankersfor about $245 million through its majority owned subsidiaryOcean Rig UDW Inc. The company also said it has entered into anagreement to potentially sell its six Aframax tankers for about$291 million.

** J C PENNEY CO INC, Monday close $7.83, +2.94 pctpremarket

Analysts at Piper Jaffray raised their price target on thedepartment store chain's stock to $14, according to SeekingAlpha. The brokerage also raised its estimates for the companybased on inventory channel checks, Seeking Alpha reported.

** PRICELINE GROUP INC, Monday close$1,149.83, +1.21 pct premarket

Analysts at Stifel Nicolaus raised their rating on thetravel website operator to "buy" from "hold", saying thestabilizing European economy should help the company.

** SYNTA PHARMACEUTICALS CORP, Monday close$2.33, -20.60 pct premarket

The drug developer said it would commence a public offeringof common shares, but did not say when the offering would becompleted or provide any details on the number of shares orprice.

** REYNOLDS AMERICAN INC, Monday close $69.47, -3.48pct premarket

** LORILLARD INC, Monday close $66.42, -2.44 pctpremarket

The Federal Trade Commission staff is recommending a suit toblock the $27 billion merger of the second- and third-biggestcigarette makers, Reynolds American and Lorillard, the New YorkPost reported, citing a well-placed DC source not working on thecase said. (http://bit.ly/1xuMHLZ)

** VAALCO ENERGY INC, Monday close $3.13, -14.70 pctpremarket

The oil and gas producer said it is abandoning its firstwell drilled offshore Angola as it was found to bewater-bearing.

** INSMED INC, Monday close $21.09, -3.51 pctpremarket

The drug developer said it is offering 10 million shares ofits common stock, and intends to use the proceeds to developrespiratory drugs ARIKAYCE and INS1009.

** TECK RESOURCES LTD, Monday close $15.27, -7.92pct premarket

The Canadian miner and Antofagasta Plc denied that they were in talks about a merger after Bloombergreported that the two mining companies were in early stagetalks. Teck said in a statement that it was not in discussionswith Antofagasta "in relation to any form of transaction."

** GLAXOSMITHKLINE PLC, Monday close $47.2, -2.50pct premarket

** JOHNSON & JOHNSON, Monday close $101.55, -0.40pct premarket

GlaxoSmithKline has agreed to settle a lawsuit byJohnson & Johnson accusing it of using false advertising at thestart of the U.S. allergy season to grab market share.

** GROUPON INC, Monday close $7.43, -0.67 pctpremarket

** KKR & CO LP, Monday close $22.77

Private equity firms KKR and Hong Kong-based Anchor Partnersare in talks to buy a majority stake in Groupon's South Koreanunit for around 350 billion won ($316 million), a South Koreannewspaper reported on Tuesday.

($1 = 1,107.3200 won)

** CBRE GROUP INC, Monday close $36.41, +1.62 pctpremarket

** JOHNSON CONTROLS INC, Monday close $49.83, +0.92pct premarket

Johnson Controls, the largest U.S. auto parts maker, said itwould sell its business that helps corporations manage theirreal estate energy needs to real estate services firm CBRE Groupfor $1.48 billion in cash. CBRE, the world's largest commercialreal estate services firm, said it expects the deal to add toadjusted earnings in 2016.

** ENDURANCE SPECIALTY HOLDINGS LTD, Monday close$64.3

** MONTPELIER RE HOLDINGS LTD, Monday close$38.15, +3.54 pct premarket

Property and casualty insurer Endurance Specialty will buyreinsurer Montpelier Re for about $1.83 billion in cash andstock, to boost its Lloyd's of London underwriting business.Montpelier shareholders will get 0.472 Endurance share and $9.89in cash for each share held, the companies said on Tuesday. Thisrepresents $40.24 per share for Montpelier, a 5.5 percentpremium to the stock's closing on Monday.

** BIOCRYST PHARMACEUTICALS INC, Monday close$8.57, +6.18 pct premarket

The drug developer said it won a U.S. government contractfor the continued development of its potential treatment forviral diseases, including Ebola. The 18-month contract includesa base value of $12.1 million to support manufacturing, as wellas $22.9 million in additional development options that can beexercised by the government.

** CHARTER COMMUNICATIONS INC, Monday close$183.39, +6.87 pct premarket

Cable television operator Charter Communications Inc said it would buy Bright House Networks in acash-and-stock deal valued at $10.4 billion to expand inFlorida. Bright House, controlled by the Newhouse family, hasabout 2 million video customers in central Florida, includingOrlando and Tampa Bay as well as Alabama, Indiana, Michigan, andCalifornia.

** MOSAIC CO, Monday close $47.36, +0.13 pctpremarket

The U.S. fertilizer company said it would raise its annualdividend by 10 cents to $1.10 per share, effective in May. Themove comes despite recent tax changes by the Canadian provinceof Saskatchewan, where Mosaic mines the crop nutrient potash,which the company said earlier would cost it $80 million to $100million in 2015.

** QUEST DIAGNOSTICS INC, Monday close $77.69, -2.68pct premarket

** QUINTILES TRANSNATIONAL HOLDINGS INC, Monday close$68

Medical test maker Quest Diagnostics and contract researchcompany Quintiles Transnational said they were combining theirclinical trial laboratory operations in a joint venture, ofwhich Quintiles will own 60 percent.

** CABLEVISION SYSTEMS CORP, Monday close$18.48, +0.92 pct premarket

The U.S. cable T.V. operator is planning to make an offerfor the New York Daily News as early as this week, valuing thetroubled tabloid at just $1, according to a person familiar withthe matter.

** INTERNATIONAL BUSINESS MACHINES CORP, Mondayclose $162.67, -0.66 pct premarket

The company said it would invest $3 billion over the nextfour years in a new 'Internet of Things' unit, aiming to sellits expertise in gathering and making sense of the surge inreal-time data.

** CITIGROUP INC, Monday close $51.64, -0.62 pctpremarket

The U.S. bank has agreed to sell its credit card unit inJapan to Sumitomo Mitsui Trust Bank, the companies said onTuesday, as Citi slims down globally to bolster itsprofitability.

** CONOCOPHILLIPS, Monday close $64, -0.98 pctpremarket

The American oil company plans to invest about $2.5 billionin Indonesia's upstream oil and gas industry over the next threeor four years, the nation's energy minister said on Tuesday.

** ALIBABA GROUP HOLDING LTD, Monday close$83.9, -0.32 pct premarket

The online retailer's healthcare subsidiary will tie-up withZhejiang DiAn Diagnostics Co Ltd to help develop anonline hospital platform, the diagnostics firm said in a filinglate on Monday.

** EXXON MOBIL CORP, Monday close $85.63, -0.74 pctpremarket

The oil and gas producer said it started production in thedeepwater Gulf of Mexico at Hadrian South, its deepest subseatie-back. The daily gross production from the project isexpected to reach about 300 mln cubic feet of gas and 3,000barrels of liquids from two wells.

** COMCAST CORP, Monday close $56.61, -0.04 pctpremarket

The largest U.S. cable operator said it would form a newcompany with its chief financial officer, Michael Angelakis, toinvest in and focus on operating growth-oriented companies bothin the United States and international markets. The new companywould have total capital commitments of up to $4.1 billion, ofwhich $4 billion will be invested by Comcast. At least $40million will be invested by Angelakis.

** SPRINT CORP, Monday close $4.75

Sprint has agreed to settle a $131 million lawsuit accusingit of defrauding shareholders by issuing false and misleadingstatements about its tightened credit standards, improvements inits subscriber base, and the success of its merger with NextelCommunications Inc. (Compiled by Ramkumar Iyer in Bengaluru; Editing by SimonJennings)

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