BUZZ-U.S. STOCKS ON THE MOVE-Lorillard, Charter Communications, Synta Pharma
(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks fell at the open on Tuesday, slightly reversing the previous day's rally, though the S&P 500 remained on track for its ninth straight quarterly rise. The Dow Jones industrial average was down 0.55 percent at 17,876.78, the S&P 500 was down 0.45 percent at 2,076.79 and the Nasdaq Composite was down 0.45 percent at 4,925.38.
** CHARTER COMMUNICATIONS INC, $195.28, +6.48 pct
Cable television operator Charter Communications Inc said it would buy Bright House Networks in a cash-and-stock deal valued at $10.4 billion to expand in Florida. Bright House, controlled by the Newhouse family, has about 2 million video customers in central Florida, including Orlando and Tampa Bay as well as Alabama, Indiana, Michigan, and California.
** SYNTA PHARMACEUTICALS CORP, $1.96, -15.88 pct
The drug developer said it would commence a public offering of common shares, but did not say when the offering would be completed or provide any details on the number of shares or price.
** VAALCO ENERGY INC, $2.68, -14.38 pct
The oil and gas producer said it is abandoning its first well drilled offshore Angola as it was found to be water-bearing. Continued...