BUZZ-U.S. STOCKS ON THE MOVE-Rada Electronic, Intercept Pharma, Alon USA
(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 on Tuesday in a modest retreat from the previous session's sharp rally, but major indexes remained on track for a positive first quarter and the S&P 500 was set for its ninth straight quarterly rise. The Dow Jones industrial average was down 0.44 percent at 17,896.5, the S&P 500 was down 0.34 percent at 2,079.09 and the Nasdaq Composite was down 0.30 percent at 4,932.79.
** CHARTER COMMUNICATIONS INC, $197.595, +7.75 pct
The cable television operator said it would buy Bright House Networks in a cash-and-stock deal valued at $10.4 billion to expand in Florida. Charter said it would pay Advance Newhouse, the owner of Bright House, $2 billion in cash and the rest in common and convertible preferred units of a newly created partnership for the deal.
** SYNTA PHARMACEUTICALS CORP, $1.91, -18.03 pct
The drug developer priced its offering of 22 million shares at $1.75 each, a 25 percent discount to the stock's Monday's close.
** VAALCO ENERGY INC, $2.44, -22.04 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...