BUZZ-U.S. Stocks on the Move-Eli Lilly, Covenant, Wet Seal, Staples

Thu Dec 11, 2014 11:26am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter,; for the Morning News Call newsletter,

U.S. stocks rose on Thursday, bouncing sharply from a three-day drop as data pointed to a strengthening economy that appeared likely to weather the impact of a steep drop in oil prices. The Dow Jones industrial average was up 1.22 percent at 17,747.42, the S&P 500 was up 1.37 percent at 2,053.88 and the Nasdaq Composite 1.52 percent at 4,755.05.

** ELI LILLY & CO, $74.99, +5.55 pct

The drugmaker's shares touched a 10-year high after Morgan Stanley upgraded the stock to "overweight" from "underweight", citing higher chances of the company's drugs getting approvals. The brokerage raised its price target from $60 to $85, the highest on Wall Street.

** STAPLES INC, $16.28, +9.89 pct

** OFFICE DEPOT INC, $7.56, +12.42 pct

Activist investor Starboard Value LP disclosed a 5.1 percent stake in Staples and raised its holdings in Office Depot to about 10 percent, possibly setting the stage for a merger of the struggling office-supply retailers.   Continued...