(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. stocks rose on Wednesday after Greece's prime minister signaled he was prepared to accept most of creditors' bailout terms and a raft of U.S. data pointed to a stronger economy. The Dow Jones industrial average was up 0.75 percent at 17,752.46, the S&P 500 was up 0.72 percent at 2,077.89 and the Nasdaq Composite was up 0.69 percent at 5,021.201.
** CHUBB CORP, $123.44, +29.75 pct
** ACE LTD, $104.81, +3.08 pct
Swiss insurance giant ACE will buy upmarket property insurer Chubb for $28.3 billion to get access to wealthy clients who pay higher premiums at a time when fierce competition has cut deeply into the industry’s profit margins.
** BIOCEPT INC, $2.7201, +6.67 pct
The medical test maker launched a new blood test that could identify patients who would respond to breast and lung cancer treatments.
** TELADOC INC, $31.42, +65.37 pct
Shares of the company, which provides on-demand medical consultation via mobile, Internet video or telephone, rose more than 60 percent in its debut.
** CALAMP CORP, $19.92, +9.09 pct
The wireless device maker reported a better-than-expected quarterly profit, helped by higher sales from its wireless datacom business.
** CHAMBERS STREET PROPERTIES, $7.25, -8.81 pct
** GRAMERCY PROPERTY TRUST INC, $22.77, -2.57 pct
Chambers Street Properties said it would merge with Gramercy Property Trust to create the largest U.S. industrial and office net lease real estate investment trust.
The offer of $25.36 per share represents a premium of 8.5 percent to Gramercy’s Tuesday close.
** COMSTOCK RESOURCES INC, $2.93, -12.01 pct
The company said it would sell its oil and gas properties in and around Burleson County in Texas for about $115 million to a private company. The company also cut its production forecast for the year.
** NOVOGEN LTD, $4.61, +14.68 pct
H.C. Wainwright initiated coverage on the stock with a “buy” rating and target price of $8.50. With a cost-conscious management and three clinic-ready, large market potential products, Novogen is an attractive investment, the brokerage said.
** MBIA INC, $6.02, +0.17 pct
** AMBAC FINANCIAL GROUP INC, $16.81, +1.02 pct
** ASSURED GUARANTY, $24.86, +3.63 pct
Shares of banks and bond insurers with exposure to Puerto Rico rose after falling in the past two sessions.
Puerto Rico’s distressed power authority, PREPA, avoided default on Wednesday by making a $415 million bond payment.
** CONSTELLATION BRANDS INC, $117.42, +1.21 pct
The company reported a better-than-expected quarterly profit, helped by higher sales of its Corona and Modelo beers, and said it would buy the Meiomi wine brand for about $315 million.
** TETRALOGIC PHARMACEUTICALS CORP, $2.91, +24.36 pct
The drug developer said patients given its experimental drug birinapant in combination with azacitidine showed complete response to treatment in mid-stage study.
** XENON PHARMACEUTICALS INC, $8.955, -22.33 pct
The drug developer said two strengths of its experimental ointment for pain did not significantly reduce pain in patients suffering from osteoarthritis.
** BALLARD POWER SYSTEMS INC, $1.695, -18.90 pct
The Canadian fuel cell products maker announced an offering of 8.1 million of its U.S.-listed shares at $1.60 per share, a 23.5 percent discount to the stock’s Tuesday close.
The offering size represents 6 percent of the company’s outstanding shares as of May 13, according to Thomson Reuters data.
** PATTERSON COS INC, $49.695, +2.15 pct
The medical device supplier said it would sell its business that makes products that assist in a patient’s recovery to private equity firm Madison Dearborn Partners for $715 million.
** VALLEY NATIONAL BANCORP, $10.48, +1.65 pct
JP Morgan raised its rating on the bank’s stock to “neutral”, according to Theflyonthewall.com.
** AXCELIS TECHNOLOGIES INC, $3.044, +2.84 pct
Benchmark Co started coverage of the company’s stock with a “buy” rating. Analyst Mark Miller expects the company to post a profit this year and the next after three straight years of losses.
** MELCO CROWN ENTERTAINMENT, $20.6509, +5.20 pct
** LAS VEGAS SANDS, $53.91, +2.55 pct
** WYNN RESORTS LTD, $103.91, +5.31 pct
Casino stocks rose for a second straight day following a better-than-expected showing for monthly gaming revenue in Macau.
Macau’s gaming revenue dropped slightly less than the 39-40 percent analysts had forecast though it still suffered its 12th straight monthly decline.
** GREENBRIER CO INC, $45.08, -3.78 pct
The company’s third-quarter profit missed estimates for the first time in five quarters. Quarterly sales growth also fell short of market estimates, partly due to an abrupt decline in scrap metal prices.
** AMYRIS INC, $1.81, -7.18 pct
The renewable chemicals and fuels company said on Tuesday it had reached a deal with Total SA. Total will own 75 percent of the JV after the restructuring.
** MARTEN TRANSPORT LTD, $22.175, +2.19 pct
The trucking company will replace restaurant chain operator Cracker Barrel Old Country Store Inc in the S&P SmallCap 600 index after close of trading on July 1. Cracker Barrel will replace Dresser-Rand Group Inc in the S&P MidCap 400 index. Germany’s Siemens AG has agreed to buy U.S. oilfield equipment maker Dresser-Rand for $7.6 bln.
** BANCO SANTANDER SA, $7.09, +1.14 pct
The Spanish bank and British mobile banking software provider Monitise have formed a joint venture to invest in financial technology businesses, they said on Wednesday. (Compiled By Manya Venkatesh in Bengaluru; Editing by Simon Jennings)