BUZZ-U.S. STOCKS ON THE MOVE-Chubb, Tetralogic Pharma, Ballard Power

Wed Jul 1, 2015 9:10am EDT
 
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(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. futures rose on Wednesday after Greek Prime Minister Alexis Tsipras signaled he was prepared to accept most of creditors' bailout terms with some modifications. Dow Jones industrial average e-mini futures were up 0.98 percent at 17,694, S&P 500 futures were up 0.86 percent at 2,072.25 and Nasdaq 100 futures were up 0.92 percent at 4,430.5.

** CHUBB CORP, Tuesday close $95.14, +33.07 pct premarket

** ACE LTD, Tuesday close $101.68, +8.82 pct premarket

Property and casualty insurer ACE said it would buy smaller rival Chubb for $28.3 billion to diversify its portfolio and reduce exposure to rock-bottom catastrophe insurance rates.

The deal is at a premium of 30 percent to Tuesday's closing price for Chubb stock, based on the offer price of about $124.13 per share.

** BIOCEPT INC, Tuesday close $2.55, +19.22 pct premarket

The medical test maker launched a new blood test that could identify patients who would respond to breast and lung cancer treatments.

  Continued...