BUZZ-U.S. STOCKS ON THE MOVE-Yelp, Twitter, Panera, Calix, Mastercard
(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) Wall Street was higher on Wednesday as investors assessed earning ahead of a statement from the U.S. Federal Reserve that could give clues regarding the timing of a rate hike.
The Dow Jones industrial average was up 0.66 percent at 17,745.88, the S&P 500 was up 0.58 percent at 2,105.44 and the Nasdaq Composite was up 0.28 percent at 5,103.392.
** CYTEC, $73.89, +26.55 pct
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.Jefferies raises price target
** YELP INC, $24.2, -27.78 pct
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." At least 15 brokerages cut price target