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Etsy Inc. announced plans on Monday to open a marketplace that will connect its global base of sellers and designers to U.S. and Canadian manufacturers. The company will charge fees for transactions on the marketplace, thus raking in revenue from the deal. However, it has not yet announced how much those fees will be. This marketplace comes two years after the company relaxed rules that enabled sellers to seek out manufacturing assistance from approved manufacturers. Monday’s announcement sparked a wave of discussion among sellers on Etsy forums. “I know a lot of people are not happy about it and view the manufacturing assistance being allowed by Etsy as a huge detriment, but I don’t,” said seller Amber Morgan, who runs the Etsy shop AmberMorganDesigns. “It is crazy hard to find manufacturers.” Shares of Etsy were inactive in premarket trade. They have fallen 14% over the last three months, compared with a 6.3% decline for the broader S&P 500.

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A Delaware judge has ruled that American Apparel Inc. does not have to pay for legal expenses incurred by the company’s former chief executive, Dov Charney, as he defended himself against a charge of breaching a standstill agreement. American Apparel said after he was ousted as CEO of the company, Charney made negative comments about the company in the media and at employee meetings. The judge found that Charney, as a former rather than current officer with the company, isn’t entitled to legal fees. American Apparel is struggling to remain afloat, saying last month that it needed an influx of cash to avoid defaulting on a loan. Charney was fired in December after allegations of misconduct and breaking company policy.

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Ride-hailing company Lyft fought back against a citation by the Federal Communications Commission that said the company had been making customers receive unwanted text messages. “Lyft has not been using promotional texts to spam users with unwanted communications,” the company said. In the citation, the FCC said Lyft customers could not easily get out of receiving the texts and that they had to receive them to use the Lyft services. Lyft said it updated its terms of services and frequently asked questions to illustrate how to opt out of the messages. First National Bank also received a citation from the FCC Friday about unwanted messaging.

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Analysts at Sterne Agee said in a note on Monday that Apple Inc.’s new Apple TV device has the potential to become a player in, and help expand the video-gaming market. Apple’s much-anticipated device, unveiled last week with a $149-$199 price tag, streams video content and has gaming capabilities, including the capability for third-party video-game apps to be developed for it through the device’s tvOS. While lead analyst Arvind Bhatia said existing mobile game apps will undoubtedly be ported to Apple TV, the Cupertino-based company will need to establish the new device as a unique home-based platform rather than just an extension of existing mobile games. Bhatia said Apple TV’s success as a gaming platform will be reliant on its rate of adoption, which would benefit from an Angry Birds like moment–a “killer app.”

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Mylan N.V. said it has officially launched its offer to buy all of Perrigo Co. PLC’s outstanding shares in a deal that values the Ireland-based healthcare supplier at about $27.3 billion. As part of the deal, Mylan will offer $75 in cash plus 2.3 of its shares for each Perrigo share outstanding. Based on Mylan’s stock’s closing price of $48.65 on Friday, the per-share bid is valued at $186.895. Perrigo has about 146.28 million shares outstanding, according to FactSet. The offer to buy the shares will expire Nov. 13. If the merger is completed, Perrigo shareholders will own 40% of the combined company. “With the overwhelming support of Mylan shareholders, today we officially are taking our offer directly to the Perrigo shareholders,” said Mylan Executive Chairman Robert Coury. “We are highly confident that the majority of Perrigo shareholders will support this full and compelling offer, particularly in the absence of any competing interest in this asset and the significant uncertainties, execution risk and lengthy timetable associated with Perrigo’s standalone strategy.” Perrigo’s management has rebuffed Mylan’s previous merger offers, saying the price was too low. Mylan and Perrigo shares were still inactive in premarket trade. Mylan’s stock has tumbled 34% over the past three months, while Perrigo’s has slipped 2.7% and the S&P 500 has lost 6.4%.

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Collegium Pharmaceuticals Inc. shares surged 37% in premarket trading Monday, after the company won the backing of two Food and Drug Administration panels for a treatment for severe pain. The Anesthetic and Analgesic Drug Products Advisory Committee and Drug Safety and Risk Management Advisory Committee of the FDA voted unanimously to support the approval of Xtampza ER (TM), which are extended-release oxycodone capsules, to be used to treat pain that is so severe that it requires daily, 24-hour long-term opioid treatment. The treatment aims to deter abuse by patients, a problem that has emerged with other codeine-based painkillers. The FDA will take the recommendations into account as it continues its review of the drug. Collegium shares have fallen 30% in the last three months, while the S&P 500 has lost 6.5%.

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Alcoa Inc. said on Monday it will cut the remaining alumina capacity of its Suralco operations in Suriname, given limited supply of bauxite and continued weakness in commodities markets. Suralco’s remaining capacity was 887,000 metric tons a year. Alcoa expects to record restructuring charges of $65 million to $75 million, or 5 cents to 6 cents a share, in the second half of 2015 associated with the capacity cuts. “Suralco’s ongoing energy challenges and limited bauxite supply, combined with unfavorable market conditions, mean it is no longer possible to continue operations,” said Bob Wilt, president of Alcoa global primary products. Alcoa’s stock slipped 0.3% in premarket trade. It has tumbled 20% over the past three months, while the S&P 500 has lost 6.4%.

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Apple Inc.’s stock climbed 1.5% in premarket trade Monday, amid signs that pre-orders for iPhone 6s and iPhone 6s Plus are off to a strong start, with particular strength out of China, according to Analyst Daniel Ives at FBR & Co. “Initial demand looks strong, based on estimated wait times as displayed on Apple’s Web site and various blogs,” Ives wrote in a note to clients. “While there are still unknowns about inventory levels, we note that China demand in particular looks ‘very strong’ out of the gates and is a positive sign that the white-hot momentum out of this region shows no signs of abating despite macro headwinds out of China.” He said wait times for 6s Plus are roughly three to four weeks in the U.S., U.K. and China. For the 6s, wait times are shorter in the U.S. and U.K., depending on the carrier, and two to three weeks in China. Given recent data, Ives said he believes pre-sales of the new iPhones will exceed the 4 million orders Apple had for iPhone 6/iPhone 6 Plus a year ago. The stock has dropped 10% over the past three months through Friday, while the Dow Jones Industrial Average has lost 8.2%.

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Alibaba Group Holding Ltd. has fired back at Barron’s after the publication predicted “more trouble ahead” for the Chinese e-commerce giant and a drop of up to 50% for Alibaba shares. “We take strong issue with the reporting about the state of our company, and we feel compelled to set the record straight,” said Jim Wilkinson, an Alibaba senior vice president, in a lengthy letter posted on an Alibaba website. Barron’s reported over the weekend that Alibaba’s stock “could fall much further as China’s economy struggles, competition in e-commerce increases, and the company’s culture and governance draw scrutiny.” Barron’s and MarketWatch are sister publications, both owned by News Corp. Shares in Alibaba dropped 2.4% in premarket action.

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Nokia Oyj said on Monday the Committee on Foreign Investment in the United States has cleared the company’s proposed takeover of Alcatel-Lucent . With the earlier approval by the U.S. Department of Justice, the companies now have received all the required regulatory approvals from the U.S. for the deal to go through. “Both companies will continue to work closely with the few remaining antitrust authorities in the relevant jurisdictions to conclude their regulatory reviews as quickly as possible,” Nokia said in a statement. The EU’s antitrust body in July approved the acquisition, noting that the two firms were not close competitors and could still face strong global competition. After years of speculation, Nokia in April confirmed it’s buying its rival in a deal then worth 15.6 billion euros ($17.68 billion) to create one of the world’s largest telecom-gear makers.

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From:: Stock Market News