BUZZ-U.S. STOCKS ON THE MOVE-Oil stocks, Macy's, Genvec, Genesco
(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 opened higher on Friday after stronger-than-expected U.S. jobs data built the case for the Federal Reserve to raise interest rates this month for the first time in nearly a decade. The Dow Jones industrial average was up 1.54 percent at 17,747.12, the S&P 500 was up 1.42 percent at 2,078.74 and the Nasdaq Composite was up 1.49 percent at 5,112.636.
** KALOBIOS PHARMACEUTICALS INC, $31.5697, +7.67 pct
The biopharmaceutical company, which recently appointed controversial head of Turing Pharmaceuticals Martin Shkreli as CEO, said it was acquiring worldwide rights to a compound being developed for the treatment of Chagas disease.
** AVON PRODUCTS INC, $4.415, +10.65 pct
Private equity investors led by Barington Capital have proposed a restructuring of the company, saying the cosmetics maker is "significantly undervalued" and warning against the sale of its North American arm to Cerberus Capital Management.
** GENVEC INC, $2.7501, +16.04 pct Continued...