October 5, 2015 / 2:53 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-GE, Twitter, Contravir Pharma

(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 indexes rose on Monday, after a disappointing U.S. jobs report on Friday hardened views that the Federal Reserve will not raise interest rates this year. The Dow Jones industrial average was up 0.98 percent at 16,633.05, the S&P 500 was up 1.07 percent at 1,972.24 and the Nasdaq Composite was up 0.93 percent at 4,751.338.

** GENERAL ELECTRIC CO, $26.455, +3.87 pct

Nelson Peltz’s Trian Fund Management said it had bought $2.5 billion in shares of the industrial conglomerate since May, making it one of the company’s top 10 shareholders. GE is now Trian’s largest investment with a beneficial ownership of 98.5 million shares, or a roughly 1 percent stake.

** SPARK THERAPEUTICS INC, $55.0801, +25.38 pct

The drug developer said its experimental gene therapy met its main goal of improving vision in patients with a type of inherited eye disorder, in late-stage study.

** TWITTER INC, $26.68, +1.41 pct

The microblogging service company named interim Chief Executive Jack Dorsey as its permanent CEO. Dorsey has served as interim CEO for the past three months, after Dick Costolo stepped down on July 1.

** CONTRAVIR PHARMACEUTICALS INC, $5.8, +174.88 pct

The drug developer said preliminary data showed that its experimental drug was found to be 60 times more active against hepatitis B virus when compared with Gilead Sciences’ Viread, in a study. The drug, CMX157, has potential to reduce side effects when compared with Viread, the company said.

** BRINK‘S CO, $29.3, +3.13 pct

Activist investor Starboard Value LP said it raised its stake in the provider of cash transportation and ATM services, to about 12.4 percent. Starboard, Brink’s largest shareholder, had reported a 9 percent stake in the company in July.

** ANI PHARMACEUTICALS INC, $47.27, +8.37 pct

The generic drug maker said its board authorized share buyback of up to $25 million.

** SANDRIDGE ENERGY INC, $0.403, +12.57 pct

The oil and gas producer is to buy gathering and compression company Pinon Gathering Co LLC from EIG Global Energy Partners. SandRidge said the deal is for $48 million in cash and $78 million of 8.75 percent senior secured notes due 2020.

** SUNCOR ENERGY INC, $26.32, -2.01 pct

The Canadian oil and gas producer launched an all-stock hostile bid for Canadian Oil Sands Ltd, valued at about C$4.3 billion ($3.29 billion). The offer, which works out to C$8.84 per share based on Suncor’s Friday close, represents a premium of about 43 percent to Canadian Oil Sands’ Friday close.

** ALCOA INC, $9.92, +4.20 pct

Alcoa said it has signed a contract worth about $1 billion with Airbus Group for multi-material aerospace fastening systems.

** FIREEYE INC, $30.7, -7.14 pct

Piper Jaffray & Co downgraded the cybersecurity software maker’s stock to “neutral” from “overweight” and slashed its price target to $37 from $60. “We are concerned that the recent string of departures could create disruption at the company, potentially impacting product development or sales growth,” Piper analysts wrote.

** POTASH CORP OF SASKATCHEWAN INC, $21.01, +2.49 pct

The fertilizer company said it had withdrawn its $8.9 billion offer for German potash producer K+S, citing a decline in global commodity and equity markets and a lack of engagement by K+S management.

** ARCELORMITTAL SA, $5.77, +5.87 pct

Citi raised its rating on the steel producer’s stock to “buy” from “sell”. The brokerage said the valuation meant it was worth the risk of being early to upgrade after a 50 percent share price fall since May. (Compiled by Arunima Banerjee in Bengaluru; Editing by Anil D‘Silva and Kirti Pandey)

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