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BUZZ-U.S. STOCKS ON THE MOVE-Goldman Sachs, Boeing, Valeant, Polypore

Mon, 23rd Feb 2015 13:28

(For faster updates on individual market-movers, Eikon usersplease use search string "STXBZ US"; for the Day Aheadnewsletter, http://link.reuters.com/mex49s)

U.S. stock index futures dipped on Monday, after the Dow andS&P closed at records on the heels of an agreement by euro zonefinance ministers to extend Greece's bailout by four monthsprovided it draws up a list of reforms: Dow Jones industrialaverage futures were down 0.22 percent at 18,065, S&P500 futures were down 0.19 percent at 2,103 and Nasdaq100 futures were up 0.03 percent at 4,439.25.

** GOLDMAN SACHS GROUP INC, Friday close$191.51, -1.31 pct premarket

The bank raised the top end of its estimate of "reasonablypossible" legal losses to about $3 billion from $2.5 billion.The estimate accounts for potential losses apart from what isalready set aside in reserves, it said in a quarterly regulatoryfiling.

** HARMONY GOLD MINING CO, Friday close$2.42, -1.24 pct premarket

An underground fire broke out at the company's Kusasalethumine near Johannesburg on Sunday. The miner said it rescued all486 miners trapped underground.

** ARMSTRONG WORLD INDUSTRIES INC, Friday close$54.8, +4.01 pct premarket

The construction materials maker said it would spin off itsflooring business to concentrate on its ceilings unit. ArmstrongWorld also reported lower-than-expected fourth-quarter revenue,hurt by lower sales in the Americas and a stronger dollar.

** BRISTOL-MYERS SQUIBB CO, Friday close $60.52

The company said it would buy privately held drugmakerFlexus Biosciences Inc for up to $1.25 billion to expand itspipeline of cancer drugs.

** OCWEN FINANCIAL CORP, Friday close $9.6, +7.50pct premarket

** NATIONSTAR MORTGAGE HOLDINGS INC, Friday close$27.93, +4.01 pct premarket

Mortgage servicer Ocwen said it would sell a portfolio ofresidential mortgage servicing rights worth $9.8 billion toNationstar Mortgage. The portfolio consists of about 81,000performing loans owned by Freddie Mac.

** BOEING CO, Friday close $158.31, -2.09 pctpremarket

Goldman Sachs downgraded the aircraft maker's stock to"sell" from "neutral", according to Theflyonthewall.com. Of 23other analysts covering it, 15 have "buy" or higher ratings,while seven have "hold" and one has "strong sell".

** DISH NETWORK CORP, Friday close $78.31, +0.11pct premarket

The second-largest U.S. satellite TV company said founderand Chairman Charlie Ergen would step in as CEO when Joe Claytonretires on March 31.

** SPECTRUM PHARMACEUTICALS INC, Friday close$7.46, -24.93 pct premarket

A Nevada court ruled in favor of Novartis AG,deeming "invalid" two patents covering the cancer-focusedbiotech's injection, Fusilev.

Roth Capital downgraded the stock to "neutral", saying thecompany will be hurt by the increasing risk to the Fusilevrevenue stream, and halved its price target to $7 from $15.

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, Fridayclose $173.26, +8.06 pct premarket

** SALIX PHARMACEUTICALS LTD, Friday close$157.85, -0.92 pct premarket

Canada's Valeant agreed to buy gastrointestinaldrugmaker Salix for about $10.1 billion, the companies said onSunday.

Cantor Fitzgerald raised its price target on Valeant's stockto $214 from $184.

** HSBC HOLDINGS PLC, Friday close $46.68, -5.10pct premarket

The bank reported a deeper-than-expected 17 percentslide in annual pretax profit and cut its earnings target,saying allegations its Swiss business had helped customers tododge taxes had brought shame on it.

BREAKINGVIEWS-HSBC's operating woes trump Swiss tax furore:

** TWENTY-FIRST CENTURY FOX INC, Friday close$35.3, +0.00 pct premarket

** DISCOVERY COMMUNICATIONS INC, Friday close$30.93, +3.10 pct premarket

Rupert Murdoch's Twenty-First Century Fox, which like otherbroadcasters is battling a shift to on-demand TV, denied therehad been any takeover talks with Discovery, owner of AnimalPlanet and the Discovery Channel, as reported by the AustralianFinancial Review.

** POLYPORE INTERNATIONAL INC, Friday close$52.95, +12.52 pct premarket

** 3M CO, Friday close $168.12, -0.04 pct premarket

Asahi Kasei Corp, a Japanese chemicals maker, saidit would buy Polypore's energy storage segment for $2.2 billion.3M Co will buy the assets of Polypore's SeparationsMedia segment for about $1 billion and Asahi Kasei will receivethe cash proceeds.

** CITIGROUP INC, Friday close $51.78, -0.31 pctpremarket

** SPRINGLEAF HOLDINGS INC, Friday close $38.57

Citigroup is in advanced talks to sell its consumer financeunit OneMain Financial Holdings Inc to subprime lenderSpringleaf for more than $4 billion, people familiar with thematter said on Friday.

** ANGLOGOLD ASHANTI, Friday close $11.47, -2.88 pctpremarket

Africa's top bullion producer said it fell into a loss inthe fourth quarter of last year because of costs associated withlayoffs and restructuring at its key Ghana operation andaccounting adjustments.

** BARRICK GOLD CORP, Friday close $12.89, -0.54 pctpremarket

More than 2,000 unionized workers at the Lumwana copper mineowned by the Canadian company stopped work demanding to knowwhat will happen to them when the company closes the business, agovernment official said.

** MCDONALD'S CORP, Friday close $94.19, -0.44 pctpremarket

The fastfood chain and its franchisees may have few optionsbut to begin raising hourly wages as an improving U.S. economycreates competition for good workers and as mega-employerWal-Mart Stores Inc sets a higher bar on pay, accordingto labor experts. [ID;nL1N0VU1UC]

** GENERAL MOTORS CO, Friday close $37.65, -0.24 pctpremarket

United Auto Workers President Dennis Williams, whose unionindirectly controls the largest single block of GM shares, toldReuters an investor group's proposal that GM buy back $8 billionof its stock is premature, and the amount too high for thecompany's long-term health.

** GLOBE SPECIALTY METALS INC, Friday close $15.37

The silicon-alloy producer and Spain's Grupo FerroAtlanticaSA said they would merge to form a company controlled byFerroAtlantica shareholders. (Compiled by Sneha Banerjee in Bengaluru; Editing by JoyjeetDas)

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