BUZZ-U.S. STOCKS ON THE MOVE-Lululemon, Pentair, Mylan, Zep
(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 were little changed on Wednesday, with traders eyeing a $70 billion mega-deal in the energy space and ahead of minutes from the most recent meeting of the Federal Reserve's policy-setting committee. The Dow Jones industrial average was up 0.04 percent at 17,882.02, the S&P 500 was up 0.04 percent at 2,077.06 and the Nasdaq Composite was up 0.40 percent at 4,930.101.
** ROYAL DUTCH SHELL PLC, $60.45, -7.65 pct
** BP PLC, $41.13, +2.19 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, $61.29, -4.92 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. Continued...