BUZZ-U.S. STOCKS ON THE MOVE-Cytec, Yelp, Natural Health, Gilead
(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 futures rose on Wednesday ahead of a statement from the U.S. Federal Reserve that could give clues regarding the timing of a rate hike. Dow Jones industrial average futures were up 0.13 percent at 17,568, S&P 500 futures were up 0.01 percent at 2,087.5 and Nasdaq 100 futures were up 0.04 percent at 4,558.
** CYTEC, Tuesday close $58.39, +26.82 pct premarket
Belgian chemical group Solvay has agreed to buy U.S. peer Cytec for $5.5 billion, giving it a bigger presence in the lightweight materials business where demand from the aerospace industry is booming.
** YELP INC, Tuesday close $33.51, -24.95 pct premarket
The operator of consumer review website reported a surprise loss and forecast revenue for the current quarter that fell far below market expectations. The company also reported its slowest revenue growth in 18 quarters in the three months ended June 30, and said Chairman Max Levchin would step down "to pursue other interests."
** TWITTER INC, Tuesday close $36.54, -11.06 pct premarket
The microblogging company said its number of monthly average users grew at the slowest pace since it went public in 2013. Continued...