April 1, 2015 / 11:04 AM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Dyax, Hewlett-Packard, Kinder Morgan

(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. stock index e-mini futures were little changed on Wednesday: Dow Jones industrial average futures were down 0.01 percent at 17,702, S&P 500 futures were down 0.10 percent at 2,058.75 and Nasdaq 100 futures were down 0.06 percent at 4,327.

** DYAX CORP, Tuesday close $16.755, +46.82 pct premarket

The drug developer said its experimental drug, DX-2930, to prevent hereditary angioedema attacks was found effective, compared with a placebo, in an early stage study. The drug was also assigned fast-track status by the U.S. FDA.

** HEWLETT-PACKARD CO, Tuesday close $31.16, +1.57 pct premarket

The computer maker has lodged a claim in London against Michael Lynch and a former colleague for damages of about $5.1 billion over their management of Autonomy, the company it bought in 2011. Lynch will counter sue, seeking in excess of 100 million pounds ($149 million) for loss and damage caused by HP's accusations, his representatives said in a statement on Tuesday.

($1 = 0.6732 pounds)

** KINDER MORGAN INC, Tuesday close $42.06, +0.26 pct premarket

Canada's Keyera Corp and midstream company Kinder Morgan plan to build 4.8 million barrels of new crude oil storage in the marketing hub of Edmonton, Alberta, the two companies said on Tuesday.

** GENERAL ELECTRIC CO, Tuesday close $24.81

The U.S. conglomerate will commit to financing a new natural gas plant in Puerto Rico under a debt restructuring plan proposed by creditors of the island's struggling power utility, according to plan documents obtained by Reuters.

** SPRINT CORP, Tuesday close $4.74

A plan to salvage RadioShack Corp's business by co-branding most of its 1,740 surviving stores with cellular phone provider Sprint earned U.S. bankruptcy court approval on Tuesday, ending four days of contested court hearings.

** TECK RESOURCES LTD, Tuesday close $13.73

The mining company on Tuesday poured more cold water on speculation it was in talks to merge with or acquire a rival mining company, saying although it had looked at opportunities none have met its criteria.

** LOCKHEED MARTIN CORP, Tuesday close $202.96

The Pentagon's No. 1 defense equipment supplier said it expected to complete a contract in the coming months to supply an undisclosed number of PAC-3 missiles to South Korea, following Monday's announcement by that country's defense acquisition agency.

** AMAZON.COM INC, Tuesday close $372.1

The online retailer has launched a hardware that allows its Prime members to order a product by pushing a button. The 'Dash button', which is connected with the Amazon app through Wi-Fi, is brand specific and the company has tied up with household names such as Tide, Huggies and Gillette.

** CARPENTER TECHNOLOGY CORP, Tuesday close $38.88

The alloys maker said on Tuesday that it will cut about 10 percent of its salaried workforce, or 200 jobs, to reduce costs amid weak oil and gas prices. The company will also cut about 60 outsourced positions.

** CAMBREX CORP, Tuesday close $39.63

Craig-Hallum Capital Group LLC started coverage of the drug ingredient manufacturer with a "buy" rating and price target of $50. Analysts say Cambrex is one of the top 10 contract manufacturers of small molecule active drug ingredients, a market they value at over $50 billion with mid-single digit volume growth. They also expect the company's earnings per share to double by 2017.

** OFG BANCORP, Tuesday close $16.32

Guggenheim cut its rating on the Puerto Rico-based lender's stock to "neutral" from "buy".

** CYRUSONE INC, Tuesday close $31.12

** CINCINNATI BELL INC, Tuesday close $3.53

The data center REIT's former parent Cincinnati Bell halved its stake through a follow-on offering. CyrusOne said it would issue 12.2 million shares of common stock to buy an equal amount of Cincinnati Bell's operating partnership units. The offering will cut Cincinnati Bell's stake to 22 percent if the full shoe is exercised, and increase the common shares outstanding to about 53 million.

** ECHO GLOBAL LOGISTICS INC, Tuesday close $27.26

BB&T Capital Markets cut its rating on the logistics company's stock to "hold" from "buy".

** UTI WORLDWIDE INC, Tuesday close $12.3

The logistics company reported a wider-than-expected fourth-quarter loss, hurt by lower air and ocean freight forwarding yields and lower volumes in freight forwarding. The company also cuts its 2016 adjusted EBITDA forecast to $125 million-$150 million from $190 million-$210 million and said revenue would be hurt by the strengthening of the dollar.

** SYNNEX CORP, Tuesday close $77.25

The hardware distributor forecast second-quarter revenue and adjusted profit below analysts' average estimates, saying revenue is expected to be lowered by about $130 million due to the stronger dollar. The company on Tuesday also reported lower-than-expected first-quarter profit and revenue.

** GODADDY INC

The web hosting company has priced its initial public offering at $20 per share, above its previously indicated $17 to $19 per share range, valuing it at around $4.5 billion, including debt, according to underwriting sources. GoDaddy's shares are expected to start trading on Wednesday and list on the New York Stock Exchange under the symbol "GDDY." (Compiled by Ramkumar Iyer in Bangalore; Editing by Simon Jennings)

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