June 29, 2016 / 1:12 PM / a year ago

BUZZ-U.S. STOCKS ON THE MOVE-Esperion, Lipocine, Tesaro, Eclipse

5 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) Wall Street was set to open higher for the second day on Wednesday as the initial panic surrounding Britain's vote to leave the European Union settled and investors sought bargains among beaten-down stocks. Dow Jones industrial average futures were up 0.75 percent at 17,430, S&P 500 futures were up 0.74 percent at 2,043.5 and Nasdaq 100 futures were up 0.75 percent at 4,313.

** TESARO INC, Tuesday close $37.21, +76.03 pct premarket

The cancer drug maker said its ovarian cancer drug met the main goal of prolonging survival in patients, without the disease worsening, in a late-stage trial.

** LIPOCINE INC, Tuesday close $6.27, -54.86 pct premarket

The drugmaker said its oral testosterone replacement product did not get the approval in the United States.

** SHIRE PLC, Tuesday close $171, +3.68 pct premarket

The Irish drugmaker said a study testing an experimental drug to treat attention-deficit disorder met the main goal, bringing the drug one step closer to approval in the United States.

** GENERAL MILLS INC, $65.76, +1.73 pct premarket

The maker of Cheerios cereal and Yoplait yogurt reported a better-than-expected quarterly profit, helped by cost cuts and higher demand in markets outside the United States.

** ECLIPSE RESOURCES CORP, $4.11, -12.65 pct premarket

The oil and gas company offers 37.5 million shares at $3.50, a 14.8 percent discount to the stock's last sale. The company said it intends to use the offering proceeds to purchase additional shares and fund a portion of its capex through 2017.

** PRIVATEBANCORP INC, Tuesday close $35.93, +24.35 pct premarket

Canadian Imperial Bank of Commerce said it would buy Chicago-based PrivateBancorp in a cash-and-stock deal valued at about $3.8 billion to offer its Canadian clients access to U.S. banking services.

** ESPERION THERAPEUTICS INC, $16.18, -33.87 pct premarket

At least 3 brokerages lowered their ratings on the drug developer. The company said it did not receive definitive answer from FDA about the need for completion of a cardiovascular outcomes study prior to approval of its experimental cholesterol drug.

** AUTOLIV INC, Tuesday close $110.13, -5.57 pct premarket

The auto safety gear maker confirmed that Toyota is recalling 1.4 million Prius cars equipped with its airbag inflators.

** WILLIAMS COS INC, Tuesday close $20.64, +1.70 pct premarket

** ENERGY TRANSFER EQUITY LP, Tuesday close $14.41, +4.09 pct premarket

Energy Transfer Equity said on Wednesday that it has terminated its merger agreement with Williams after ETE's counsel were unable to declare the deal as tax-free.

** TESLA MOTORS CORP, Tuesday close $201.79, +1.49 pct premarket

An investor group called on Tesla on Tuesday to add two independent directors to its board and separate the roles of chairman and chief executive as it highlighted founder and CEO Elon Musk's dominance of the board in the wake of Tesla's proposed bid for SolarCity.

** HONEYWELL INTERNATIONAL INC, Tuesday close $114.06, +0.30 pct premarket

The U.S. manufacturer of aerospace parts and climate control systems said Chief Operating Officer Darius Adamczyk will succeed company veteran Dave Cote as chief executive next year.

** MCDONALD'S CORP, Tuesday close $118.5, +0.02 pct premarket

South Korea's CJ Group, a food-to-entertainment conglomerate, said on Wednesday it has submitted a letter of intent to buy the largest fast-food chain McDonald's Corp's South Korean unit, adding that details have not been decided.

** ELI LILLY & CO, Tuesday close $75.15

The drugmaker and Boehringer Ingelheim should be allowed to claim that their diabetes drug Jardiance cuts the risk of cardiovascular death, an advisory panel to the U.S. Food and Drug Administration concluded on Tuesday.

** MONSANTO CO, $101.09, +1.89 pct premarket

The U.S. seeds company said it was in talks with Bayer AG's BAYGn.DE management and others regarding "alternative strategic options," a month after the U.S. seed producer rejected the German company's $62 billion takeover offer.

** SOUTHWESTERN ENERGY CO, $13.89, -0.22 pct premarket

The oil and natgas E&P commenced a public offering of 75 million shares, about 19 percent of total outstanding.

** NOODLES & CO, Tuesday close $9.71

The fast-casual restaurant chain operator said on Tuesday a recent data security incident may have compromised the security of payment information of some its customers. (Compiled by Arunima Banerjee in Bengaluru; Editing by Maju Samuel)

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