Jan 2 (Reuters) - Some U.S. stocks on the move on Wednesday:
U.S. stocks soared on the first day of trading in 2013 after U.S. lawmakers agreed a deal to avoid massive tax hikes and spending cuts that had threatened to hurt economic growth. The Dow Jones industrial average was up 1.14 percent, the Standard & Poor’s 500 Index up 1.34 percent, and the Nasdaq Composite Index up 2.47 percent. Wednesday marked the best day for the Nasdaq since June 30.
** BANK OF AMERICA CORP, $12.05, up 4 pct (0943 ET)
** WELLS FARGO & CO, $34.99, up 2.3 pct (0943 ET)
** JPMORGAN CHASE & CO, $44.93, up 2.8 pct (0942 ET)
** CITIGROUP Inc, $41.28, up 4 pct (0942 ET)
U.S. regulators are close to securing another multibillion-dollar settlement with the largest banks to resolve allegations that they unlawfully cut corners when foreclosing on delinquent borrowers, a source familiar with the talks said.
** APPLE INC, $552.71, up 3.8 pct (0941 ET)
The most valuable technology company has started testing a new iPhone and the next version of its iOS software, news website The Next Web reported. Application developers have found in their app usage logs references to a new iPhone identifier, iPhone 6.1, running iOS 7 operating system, the website reported.
** FACEBOOK INC, $27.69, up 4 pct (0940 ET)
JP Morgan raised its price target on the stock to $35 from $29, saying the social network’s advertising revenue will rise at least through the first quarter of 2013, and the recently launched Facebook Exchange ad system would improve ad sales.
** SYNERGY PHARMACEUTICALS INC, $6.33, up 20 pct (0940 ET)
The company said its experimental oral drug to treat chronic constipation due to an unknown cause met the main and key secondary goals of a Phase IIb/III study.
** ZIPCAR INC, $12.19, up 48 pct (0939 ET)
** AVIS BUDGET GROUP INC, $20.58, up 4 pct (0939 ET)
** HERTZ GLOBAL HOLDINGS INC, $16.97, up 4 pct (0938 ET)
The car rental company said will buy Zipcar for about $500 million in cash to join larger rivals Hertz and Enterprise Holdings Inc in the fast-growing U.S. car-sharing market.
** RESEARCH IN MOTION LTD, $12.20, up 2.8 pct (0938 ET)
Wireless technology patent holder InterDigital Inc said it has extended a license agreement with the BlackBerry maker and added the license coverage for 4G products, including LTE and LTE-Advanced products.
** SKULLCANDY INC, $7, down 10 pct (0937 ET)
Jefferies downgraded the headphone maker to “underperform” from “buy” and cut its price target on the stock to $6 from $17, citing increasing competition and a lack of pricing power.
** REPUBLIC AIRWAYS HOLDINGS, $6.55, up 15 pct (1000 ET)
The company raised its profit forecast for the fourth quarter late on Monday. Republic Airways said it expects consolidated earnings of between 30 cents and 36 cents per share for the quarter ended December, above its prior forecast of 18 cents to 24 cents. (link.reuters.com/wuz84t)
** DOLE FOOD CO $9.94, down 13.3 pct (1000 ET)
The world’s largest fruit and vegetable producer said the sale of its worldwide packaged food and Asian fresh food operations to Itochu Corp will now close in early 2013, pending Chinese regulatory approvals. The company also said earnings would fall in its fresh fruit business.
** CHINA BIOLOGIC PRODUCTS INC $14.88, down 9 pct (1004 ET)
The biopharmaceutical company said it expects production at its Chinese plant to be delayed because of slower-than-expected government approval.
** SUNPOWER CORP, $6.04, up 7 pct (1003 ET)
The solar equipment maker sold its 579-megawatt Antelope Valley projects in California to a unit of MidAmerican Renewables. SunPower will operate and maintain the facility. Construction of the solar project is scheduled to begin in first quarter 2013.
** GOLDMAN SACHS GROUP INC, $130.05, up 2 pct (0946 ET)
Ten senior Goldman Sachs executives, including Chief Executive Lloyd Blankfein, were on New Year’s Eve given stock pegged to earlier restricted awards worth tens of millions of dollars.
** U.S. STEEL CORP, $24.91, up 4 pct (0947 ET)
** OLYMPIC STEEL INC, $23.50, up 6 pct (0948 ET)
Credit Suisse upgraded U.S. Steel, the top steel producer in the United States by volume, to “outperform” from “neutral”, theflyonthewall.com reported. The website also reported that the brokerage raised Olympic Steel’s rating to “neutral” from “underperform”. (Compiled by Arpita Mukherjee in Bangalore)