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

Wed Jul 1, 2015 9:36am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(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. stocks opened sharply higher on Wednesday after Greek Prime Minister Alexis Tsipras said he was prepared to accept most of creditors' bailout terms with some modifications. The Dow Jones industrial average was up 0.93 percent at 17,783.76, the S&P 500 was up 0.80 percent at 2,079.53 and the Nasdaq Composite was up 0.93 percent at 5,033.168.

** CHUBB CORP, $127.26, +33.76 pct

** ACE LTD, $109.92, +8.10 pct

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, $2.9388, +15.25 pct

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