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Leucadia National, Merck & Co, Franklin Resources, Menlo Therapeutics - PRE-MARKET

Proactive takes a look at some movers and shakers before the bell on Monday April 9

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Menlo Therapeutics was a big share loser on Monday

US stocks are seen starting higher after a sharply lower close on Friday, but heading north in pre-market deals is conglomerate Leucadia National Co (NYSE:LUK), up 4.41% to US$22.73.

It came as the group unveiled a raft of moves -  asset sales, a name-change plan and increased its share repurchase program.

Among the sales, the company announced a deal to sell 48% of National Beef to Marfrig Global Foods SA for US$900mln in cash, which reduces its ownership stake to 31%.

Elsewhere, in pre-market  shares in chemicals and pharma group Merck & Co Inc (NYSE:MRK) added 2.59% to US$54.74 after the bell.

The company told investors that its cancer treatment Keytruda met the primary endpoint of a Phase 3 trial evaluating the Keytruda.

In analyst news, Franklin Resources (NYSE:BEN) shed 0.66% to US$33 each as Bank of America downgraded the  share to 'neutral' from 'buy'.

Menlo Therapeutics Inc (NASDAQ:MNLO) shares tanked over 51% to US$35.22 after the group revealed that a Phase 2 trial of serlopitant for pruritus did not meet primary and key secondary efficacy endpoints.

Quick facts: Merck & Co., Inc.

Price: 76.95 USD

NYSE:MRK
Market: NYSE
Market Cap: $195.17 billion
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