(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 rose for the first time in three days on Wednesday, powered by gains in financial and energy shares.
The Dow Jones Industrial Average was up 0.68 percent at 18,291.17, the S&P 500 was up 0.50 percent at 2,161.26 and the Nasdaq Composite was up 0.69 percent at 5,326.06.
** TWITTER INC, $24.5, +4.17 pct
The microblogging service provider is expected to field bids this week, the Wall Street Journal reported, citing sources.
** SALESFORCE.COM INC, $67.12, -7.59 pct
Brokerage Mizuho Securities expressed its concern about the cloud-based software maker’s quest to buy Twitter, saying any deal could destroy about $12 billion-$17 billion of value, which could take 2-3 years to recapture if all goes well.
** ENDURANCE SPECIALTY HOLDINGS LTD, $91.75, +4.44 pct
Japanese insurer Sompo Holdings Inc said it would buy the U.S. casualty insurer for $6.3 billion.
** CONSTELLATION BRANDS INC, $170.05, +2.53 pct
The alcoholic beverage maker reported better-than-expected jump in quarterly sales, driven by robust demand for its beers such as Corona and Modelo, and the company raised its full-year profit forecast.
** ORGANOVO HOLDINGS INC, $3.9999, +5.82 pct
The company said it plans to develop a 3D bioprinted human liver tissue for direct transplantation to patients.
** ASCENA RETAIL GROUP INC, $5.97, +6.61 pct
The women’s apparel retailer said it would restructure its business into four operating units and expects to save $100 million-$150 million of cost savings by fiscal 2019 through the new plan.
** JONES ENERGY INC, $4.33, +11.03 pct
Brokerage Stifel upgraded the oil and gas producer’s stock to “buy” from “hold”, citing the company’s increased exposure to the Anadarko basin.
** ENERPLUS CORP, $7.42, +7.69 pct
The Canadian energy producer has put its natural gas assets in the U.S. Marcellus shale region up for sale, which could fetch about $500 million, according to sources familiar with the situation.
** CATALYST PHARMACEUTICALS INC, $1.5, +33.93 pct
Brokerage Piper Jaffray upgraded the drug developer’s stock to “overweight” from “neutral” and raised its price target, citing improved visibility for submitting a marketing application for its lead drug, Firdapse.
** CORBUS PHARMACEUTICALS HOLDINGS INC, $8.74, +24.50 pct
Brokerages Cantor Fitzgerald and Suntrust began coverage of the drug developer’s stock with a “buy” rating.
** CHESAPEAKE ENERGY, $6.79, +6.59 pct
** TRANSOCEAN LTD, $10.02, +5.25 pct
** NATIONAL OILWELL VARCO INC, $37.32, +4.60 pct
** MARATHON OIL CORP, $16.25, +3.97 pct
** HALLIBURTON COMPANY, $45.87, +2.87 pct
Oil prices hit their highest since June after the U.S. government reported another surprise weekly drawdown in crude inventories.
** AZZ INC, $56.91, -12.59 pct
The specialty electrical equipment maker reported a “disappointing” second quarter as bookings fell 17.1 percent.
** ANAVEX LIFE SCIENCES CORP, $3.91, +6.54 pct
The drug developer announced a collaboration with Ariana Pharma to accelerate timeline and improve efficiency of Alzheimer’s and Parkinson’s clinical development programs.
** ACUITY BRANDS INC, $245.15, -3.86 pct
The lighting solutions provider’s fourth-quarter results missed analysts’ estimates.
** MICRON TECHNOLOGY INC, $17.961, +0.90 pct
The memory-chip maker reported a smaller-than-expected quarterly loss, but its forecast for the current quarter appeared disappointing.
** KBR INC, $15.36, +8.94 pct
Deutsche Bank upgraded the oil services company’s stock to “buy” from “hold”, citing better cost savings, share gains in government services and an improving product mix. (Compiled by Nikhil Subba in Bangalore)