4 Min Read
(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 Wednesday. The Dow Jones industrial average was up 0.46 percent at 17,958.19, the S&P 500 was up 0.38 percent at 2,084.14 and the Nasdaq Composite was up 0.61 percent at 4,940.126.
** ROYAL DUTCH SHELL PLC, $61.69, -5.76 pct
** BP PLC, $41.31, +2.63 pct
Royal Dutch Shell agreed to buy smaller rival BG Group for 47 billion pounds ($70.2 billion) in the first major energy industry merger in more than a decade, closing the gap on market leader U.S. ExxonMobil after a plunge in prices.
Shares of rival BP rose after the news.
** PENTAIR PLC, $61.8, -4.13 pct
The pump and filter maker estimated first-quarter revenue of $1.48 billion and a profit of 65 cents per share, lower than its forecast. The company said its revenue in the quarter ended March 28 was hurt by a stronger dollar and slower-than-expected oil and gas industry shipments.
** SECOND SIGHT MEDICAL PRODUCTS INC, $15.2101, +20.52 pct
The eye implant maker said new prosthesis for eye to treat "nearly all forms of blindness" was successfully implanted in an animal study.
** MCEWEN MINING INC, $1.02, -3.77 pct
The Canada-based miner said armed robbers stole about 7,000 ounces of gold contained in some 900 kilograms of gold-bearing concentrate from its El Gallo 1 mine in Mexico. The company said its insurance policy was not sufficient to cover the entire amount of expected loss.
** ZEP INC, $20, +17.03 pct
The maker of maintenance and cleaning chemicals agreed to be taken private by New Mountain Capital for about $692 million, including debt.
** TESLA MOTORS INC, $208.12, +2.40 pct
The electric sports-car maker said it had started taking orders for new base version of Model S electric sedan. The Model S electric sedan costs $5,000 more than its predecessor, but offers better performance, longer range and more features, including all-wheel drive.
** LIONS GATE ENTERTAINMENT CORP, $31.43, -6.68 pct
The movie studio announced late on Tuesday a secondary offering of 10 million shares by investment funds affiliated with MHR Fund Management LLC.
** CAPITALA FINANCE CORP, $17.83, -5.61 pct
The business development company announced on Tuesday an offering of 3.5 million shares of common stock.
** REGULUS INC, $18.188, +14.03 pct
The drug developer said AstraZeneca Plc selected its experimental drug, RG-125, for early-stage trial on Non Alcoholic Steatohepatitis (NASH) patients, as part of a strategic alliance signed in 2012.
** INOVIO PHARMACEUTICALS INC, $9.68, +6.61 pct
The vaccine developer said it would receive a grant from the U.S. Department of Defense to lead a team to develop multiple therapies for Ebola, which has killed at least 10,000 people so far. Inovio is the prime contractor on the $45 million program, with other collaborators including MedImmune, a unit of AstraZeneca Plc and GeneOne Life Sciences.
** EVERYWARE GLOBAL INC, $0.19, -5.00 pct
The marketer of cookware and tabletop products filed for Chapter 11 bankruptcy protection late on Tuesday. The company listed assets of $100 million-$500 million and liabilities of $500 million-$1 billion in its petition in the Delaware bankruptcy court (Compiled by Neha Dimri in Bengaluru; Editing by Kirti Pandey)