(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 Tuesday, on the heels of two sessions of gains for the S&P 500, with deals including a bid from FedEx for a Dutch peer indicating companies still see value in the market. The Dow Jones industrial average was up 0.45 percent at 17,960.93, the S&P 500 was up 0.23 percent at 2,085.42 and the Nasdaq Composite was up 0.39 percent at 4,936.338.
** FEDEX CORP, $171.75, +3.05 pct
The company is seeking to buy Dutch package delivery firm TNT Express for an agreed 4.4 billion euros ($4.8 billion), aiming to succeed where United Parcel Service failed two years ago when its bid was blocked by competition regulators.
** SHIRE PLC, $240.37, +4.59 pct
The London-listed pharmaceuticals firm said on Tuesday it had agreed with U.S. regulators the steps it would take to submit a candidate drug to treat hyperactivity in adults for clearance.
** INFORMATICA CORP, $47.76, +4.21 pct
The enterprise software provider said it would be taken private by a consortium comprising Permira Advisers Ltd and Canada Pension Plan Investment Board (CPPIB) for about $5.3 billion.
** TWITTER INC, $52.7, +3.66 pct
The microblogging website operator had hired advisers to fend off a takeover bid, leading to an uptick in its stock, according to a Barron’s report, citing briefing.com.
** DUKE REALTY CORP, $21.56, -2.97 pct
Miller Tabak cut its rating on the real estate investment trust’s stock to “sell”, according to StreetInsider.com.
** VERIFONE SYSTEMS INC, $35.49, +3.20 pct
Stifel Nicolaus raised its rating on the credit card swipe machines maker’s stock to “buy” from “hold”.
** FIDELITY & GUARANTY LIFE, $23, +10.63 pct
The life insurer’s majority shareholder HRG Group Inc is considering strategic alternatives for the company, including a sale.
** PBF ENERGY INC, $29.75, -7.09 pct
Credit Suisse lowered its price target on the refiner’s stock to $39 from $40. Analysts said the coastal refiner was expected to benefit from cheap crude imports, but the difference between U.S. crude and global benchmark Brent crude had narrowed, which could impact first-quarter results.
** ELDORADO RESORTS INC, $5.835, +9.27 pct
Imperial Capital started covering the resort operator’s stock with an “outperform” rating and a price target of $8.25. “We believe a global refinancing will lead to simpler capital structure, reduced interest expense, and possibly increased dry powder to pursue acquisitions or growth project,” analyst Gregg Klein wrote in a note.
** 500.COM LTD, $15.06, +22.54 pct
The Chinese online lottery company said the Chinese government’s approval for its online lottery sales was valid and had not been revoked. The company’s clarification comes after China ordered on April 3 an immediate halt of all unauthorized online lottery sales and 500.com said it would suspend its online lottery sales from April 4.
** OCWEN FINANCIAL CORP, $9.33, +12.00 pct
** NEW RESIDENTIAL INVESTMENT CORP, $16.01, +4.16 pct
** HOME LOAN SERVICING SOLUTIONS LTD, $16.909, -2.60 pct
** ALTISOURCE PORTFOLIO SOLUTIONS SA, $19.45, +18.17 pct
New Residential Investment has agreed to multi-year extension of servicing contracts with private mortgage servicer Ocwen. Home Loan Servicing Solutions, an Ocwen affiliate, and New Residential have called off their proposed merger agreement and entered into an asset purchase agreement.
Shares of Altisource Portfolio, another affiliate of Ocwen, also rose.
** GENESIS ENERGY LP, $44.84, -4.49 pct
The offering of 4 million units of the energy pipeline company was priced at $44.42 per unit, a 5.4 percent discount to the stock’s Monday close.
** SYSOREX GLOBAL HOLDINGS CORP, $1.7801, +47.12 pct
The IT service provider received a NASA contract. The contract is the company’s second federal government win in the past month.
** WOODWARD INC, $48.81, -5.08 pct
Jefferies & Co lowered its rating on the aerospace materials and parts supplier’s stock to “hold” from “buy” and target price to $52 from $59. “We are anticipating some volatility with regard to the company’s China CNG application as well as some push out of orders related to oil and gas markets,” Jefferies analysts wrote in a note.
** MAGELLAN PETROLEUM CORP, $0.4086, +20.14 pct
The oil and gas company said the carbon dioxide-enhanced oil recovery pilot project at its Poplar wells was successful.
** HOOKER FURNITURE CORP, $21.7643, +16.32 pct
The home furnishings and upholstery company’s profit was boosted by higher sales in all its divisions, decreased discounting in the casegoods division and lower upholstery manufacturing costs. Hooker Furniture said it experienced increased ocean freight rates since late July.
** CHINA MING YANG WIND POWER GROUP LTD, $2.9, +7.81 pct
The wind turbine maker’s fourth-quarter revenue rose 268 percent to $321.7 million. The company reported a fourth-quarter profit, compared with a loss a year earlier.
** OMEGA HEALTHCARE INVESTORS INC, $40.27, -3.98 pct
The real estate investment trust’s shares fell after unregistered sale by holder(s). Sources told Reuters that Morgan Stanley priced 18 million shares at $40.75 per share, a discount of 2.8 percent to the stock’s Monday close.
** EVERCORE PARTNERS INC, $47.66, -3.81 pct
UBS cut its rating on the boutique investment bank’s stock to “neutral” from “buy” and price target to $49 from $58. “Evercore is the only boutique whose pipeline has not recovered since year-end, and the current quarter seems on track to be quite soft,” analyst Brennan Hawken wrote in a note.
** CARNIVAL CORP, $49.04, +2.68 pct
The world’s largest cruise operator’s shares hit a high of nearly eight years after Wells Fargo Securities raised its rating to “outperform” from “market perform”, citing strengthening fundamentals and attractive total returns. Recovery in pricing in the Caribbean appears to be on very solid footing in fiscal year 2015, analysts wrote in a note. Improving consumer confidence and newly focused onboard product offerings by Carnival are also driving constant dollar onboard yield gains, they wrote.
** BALLARD POWER SYSTEMS INC, $2.333, +8.01 pct
The Canadian fuel-cell maker said its customer CSR Qingdao Sifang Co, a Chinese trail transport equipment maker, demonstrated the world’s first hydrogen fuel cell-powered fixed-rail electric tram at an event in March in China.
** ARENA PHARMACEUTICALS INC, $4.555, +4.47 pct
The weight-loss drug maker and partner Eisai Inc said the U.S. Patent and Trademark Office granted additional patent for the weight-loss drug Belviq.
** ORGANOVO HOLDINGS INC, $3.98, +9.34 pct
The biotech company entered into a research deal with the U.S. unit of French cosmetics group L‘Oreal to collaborate on development of skin tissue models.
** BIND THERAPEUTICS INC, $6.39, +12.70 pct
Oppenheimer & Co Inc started covering the drug developer’s stock with an “outperform” rating and a price target of $14. The mid-stage study of the company’s cancer drug, BIND-014, is an “initial entry point into a broader opportunity to replace current docetaxel prescribing across indications,” analysts wrote in a note.
** SPLUNK INC, $63.085, +4.83 pct
Piper Jaffray raised its rating on the data analytics software maker’s stock to “overweight” from “neutral”. “We see the sell-off in Splunk shares post the recent earnings report as an opportunity, particularly in light of improving distribution and the potential for upsell of enterprise-wide license agreements,” analysts wrote in a note.
** FIRST MAJESTIC SILVER CORP, $5.37, -5.46 pct
The silver producer entered into a private placement agreement with BMO Capital Markets for 4.6 million common shares at C$6.50 per share. The size of the placement represents 3.9 percent of the company’s total outstanding shares as of Dec. 30. First Majestic said it planned to use the proceeds to ramp up development at a Mexican mine and for general working capital needs.
** CLOVIS ONCOLOGY INC, $76.75, +11.82 pct
The U.S. Food and Drug Administration has granted “breakthrough therapy” status to the cancer drug developer’s experimental cancer drug, rucaparib, to treat ovarian cancer.
** AXALTA COATING SYSTEMS LTD, $30.57, +7.91 pct
The paints company said Berkshire Hathaway Inc would buy an 8.7 percent stake in the company from controlling shareholder Carlyle Group for $560 million. Warren Buffett’s Berkshire is buying 20 million shares at $28 per share.
** AMERICAN EXPRESS CO, $78.64, -1.24 pct
Oppenheimer cut its rating on the credit card company’s stock to “underperform”. “While it may feel like recent bad news is a lot of one-offs, we think that it is more of a symptom and that profitability of the underlying business is under pressure,” analysts wrote in a note.
** AIRMEDIA GROUP INC, $2.05, +5.67 pct
Chinese LED display maker Shenzhen Liantronics Co Ltd said it would buy a 5 percent stake in digital advertising service provider AirMedia for 150 million yuan ($24.2 million) (bit.ly/1HLanvM) (bit.ly/1NQqSbK)
** CELLADON CORP, $18.123, +1.87 pct
H.C. Wainwright began covering the drug developer’s stock with a “buy” rating and a target price of $31. The brokerage said it expected the company to report positive data from a mid-stage trial of its experimental gene therapy Mydicar.
** JP MORGAN CHASE & CO, $61, +0.88 pct
Bernstein raised its rating on the bank’s stock to “outperform” from “market-perform” and raised its price target to $70 from $67. “We feel incrementally better about the 15/16 prospects for JPM to post improved core trading revenues, additional cost leverage and optimize its franchise for a regulatory environment that may finally be stabilizing,” Bernstein analysts wrote in a note.
** RYANAIR HOLDINGS PLC, $66.42, +3.91 pct
The Irish airline said passenger traffic rose 28 percent to 6.67 million in March. Passenger load factor increased by 10 percentage points to 90 percent.
** GREENBRIER CO INC, $62.33, +2.85 pct
The railcar maker raised its 2015 profit forecast to $5.65-$5.95 per share from $5.20-$5.50 and it reported better-than-expected profit and revenue for the second quarter.
** OCULAR THERAPEUTIX INC, $33.4799, -12.59 pct
The drugmaker said its lead eye drug failed to meet one of the main goals in a second late-stage study. The drug, OTX-DP, was effective in reducing pain in patients who had cataract surgery, but failed to reduce inflammation in the eyes, the company said.
** GENERAL MOTORS CO, $35.955, -1.92 pct
Canada has entered into an agreement to sell nearly 73.4 million shares it owns in General Motors to Goldman Sachs , an investment unit of the Canadian government said on Monday. Following the sale, the Canadian government will have sold all of its remaining GM shares.
Goldman Sachs will sell the shares at $35.90 each, the midpoint of the $35.80-$36.00 marketed range, sources told Reuters. (Compiled by Neha Dimri in Bengaluru; Editing by Kirti Pandey)