BUZZ-U.S. STOCKS ON THE MOVE-Linn Energy, Perfect World, Harvest Natural

Fri Jan 2, 2015 9:49am EST
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(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. stock indexes rose on Friday, as equities looked to rebound from a sharp decline in the previous session but moves and volume are likely to remain small as the holiday week draws to a close. The Dow Jones industrial average was up 0.60 percent at 17,930.47, the S&P 500 was up 0.50 percent at 2,069.22 and the Nasdaq Composite was up 0.68 percent at 4,768.142.

** LINN ENERGY LLC, $11.43, +12.83 pct

** LINNCO LLC, $11.58, +11.67 pct

Oil and gas producer Linn Energy cut its 2015 capital budget by 53 percent to $730 million, joining other oil and gas producers in reducing expenditure in response to falling oil prices.

Linn also said it had reduced its distribution per unit and the dividend per share for its subsidiary LinnCo to $1.25 each from $2.90 on an annualized basis.

** HARVEST NATURAL RESOURCES INC, $0.9722, -46.29 pct

The oil and gas producer terminated the agreement to sell its 20.4 percent stake in its Venezuelan unit Petrodelta SA, which is a joint venture with state-owned Petroleos de Venezuela SA, for $275 million.   Continued...