MARKET PULSE-Yahoo, Immunogen, Sodastream, Athlon, Bitauto, Autohome

Wed Apr 16, 2014 11:26am EDT
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April 16 (Reuters) - U.S. stocks rose for a third straight day on Wednesday after China's economic growth exceeded expectations and Yahoo shares rallied on the strength of revenue growth in Chinese e-commerce giant Alibaba, in which it has a stake. The Dow Jones industrial average was up 0.57 percent at 16,355.81, the S&P 500 was up 0.50 percent at 1,852.25 and the Nasdaq Composite was up 0.47 percent at 4,053.1.

** YAHOO INC, $36.41, +6.43 pct

Alibaba Group Holding Ltd's IPO-ALIB.N surprise surge in revenue and its upcoming IPO present a great opportunity for investors to load up on Yahoo's shares, analysts said.

Yahoo posted anemic quarterly revenue growth as the Internet company's advertising business continues to lag its rivals, nearly two years into Chief Executive Officer Marissa Mayer's comeback effort.

** IMMUNOGEN INC,$14.3199, +11.87 pct

Canaccord Genuity analyst John Newman started coverage on the biotechnology company's stock with a "buy" rating and a $20 price target, saying he expected positive data from a late-stage trial of the company's drug as the first treatment for an aggressive form of breast cancer.

Newman said the drug, Kadcyla, which uses Immunogen's drug-delivery technology, could eliminate the need for chemotherapy in patients with HER2-positive metastatic breast cancer.   Continued...