Thursday’s Pre-Market Look: Stocks In The News Before The Open

Sprint (S) — Sprint said the 5,000 U.S. jobs being brought back to the U.S.—announced by President-elect Donald Trump on Wednesday—are part of a previously disclosed pledge by Japan’s Softbank, which holds a stake in the wireless communications company. That pledge also included 3,000 jobs from U.S. satellite company OneWeb, also partially owned by Softbank.

Sanofi (SNY) — Sanofi’s $13.5 billion asset swap with German drug company Boehringer Ingelheim will see Boehringer divest five types of animal health products, following a settlement with the U.S. Federal Trade Commission. The original deal saw Boehringer swap its consumer health care unit to Sanofi, with Boehringer receiving Sanofi’s animal care subsidiary.

Alere (ALR) — Alere is appealing a decision by the Centers for Medicare and Medicaid Services to revoke Medicare billing privileges for the health care diagnostics company’s Arriva Medical diabetes business. CMS had alleged that Arriva submitted Medicare claims for patients who had died.

Twitter (TWTR) — Twitter introduced 360-degree live streaming through the Periscope service.

Mylan (MYL) — The drug maker launched a generic version of Allergan’s Zovia, a drug used by women to prevent pregnancy.

Apple (AAPL) — Apple’s request for incentives in India will be considered by government officials next week, according to The Wall Street Journal. Apple is said to be seeking financial incentives to manufacture its products within India for sales in that market.

Senior Housing Properties (SNH) was initiated with a recommendation of ‘Overweight’ at Cantor Fitzgerald with a 12-month target price of $23.

Patrick Industries (PATK) was initiated with a ‘Buy’ at Sidoti & Company with a 12-month target price of $100.

Sears Holdings (SHLD) said it received a secured standby letter of credit for an initial $200 million that may be expanded with consent of lenders up to an additional $300 million.

Cempra (CEMP) plunged 30% in pre-market trading after the U.S. FDA failed to approve Cempra’s Solithromycin to treat community-acquired bacterial pneumonia in adults.

PHH Corp. (PHH) said it will sell its portfolio of mortgage servicing rights and related servicing advances to New Residential Investment and said it sees $912 million in proceeds.

MainSource Financial Group (MSFG) announced the retirement of President and CEO, Daryl R. Tressler, effective December 31 of this year.

McKesson (MCK) cut its accretion view of its acquisition view of Rexall to flat adjusted fiscal-2107 earnings, weaker than a March 2 view that saw the deal modestly adding to earnings.

Fortress Biotech (FBIO) surged 30% in after-hours trading after it said its MB-101 drug achieved complete remission in a patient with recurrent glioblastoma after a Phase 1 clinical trial.

Source: FoxBusiness, CNBC, BarChart, Bloomberg, Reuters

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