October 5, 2015 / 3:54 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-GE, Twitter, Contravir Pharma

(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 Monday, after a disappointing U.S. jobs report on Friday hardened views that the Federal Reserve will not raise interest rates this year. The Dow Jones industrial average was up 1.11 percent at 16,654.53, the S&P 500 was up 1.18 percent at 1,974.32 and the Nasdaq Composite was up 0.85 percent at 4,747.961.

** GENERAL ELECTRIC CO, $26.56, +4.28 pct

Nelson Peltz’s Trian Fund Management said it had bought $2.5 billion in shares of the industrial conglomerate since May, making it one of the company’s top 10 shareholders. GE is now Trian’s largest investment with a beneficial ownership of 98.5 million shares, or a roughly 1 percent stake.

** DRDGOLD LTD, $1.6, +8.11 pct


** SIBANYE GOLD LTD, $5.32, +6.61 pct

** PRIMERO MINING CORP, $2.51, +2.87 pct

** KINROSS GOLD CORP, $1.94, +6.01 pct

Gold rose as the dollar weakened after a disappointing U.S. jobs report pushed back expectations of a Federal Reserve rate rise to early 2016.

** SPARK THERAPEUTICS INC, $55.96, +27.38 pct

The drug developer said its experimental gene therapy met its main goal of improving vision in patients with a type of inherited eye disorder, in late-stage study.

** TWITTER INC, $27.68, +5.21 pct

The microblogging service company named interim Chief Executive Jack Dorsey as its permanent CEO. Dorsey has served as interim CEO for the past three months, after Dick Costolo stepped down on July 1.


The drug developer said preliminary data showed that its experimental drug was found to be 60 times more active against hepatitis B virus when compared with Gilead Sciences’ Viread, in a study. The drug, CMX157, has potential to reduce side effects when compared with Viread, the company said.

** BRINK’S CO, $29.75, +4.72 pct

Activist investor Starboard Value LP said it raised its stake in the provider of cash transportation and ATM services, to about 12.4 percent. Starboard, Brink’s largest shareholder, had reported a 9 percent stake in the company in July.

** ANI PHARMACEUTICALS INC, $46.07, +5.62 pct

The generic drug maker said its board authorized share buyback of up to $25 million.

** SANDRIDGE ENERGY INC, $0.4093, +14.33 pct

The oil and gas producer is to buy gathering and compression company Pinon Gathering Co LLC from EIG Global Energy Partners. SandRidge said the deal is for $48 million in cash and $78 million of 8.75 percent senior secured notes due 2020.

** SUNEDISON INC, $38, +4.63 pct

The U.S. solar company will focus on high profit-potential markets such as U.S., India, China and Latin America. The company will simplify business structure by removing duplicate activities created due to recent M&A activities.

** TENET HEALTHCARE CORP, $38, +4.63 pct

Shares of the third-largest U.S. hospital operator could rally to low-$40s for a gain of about 15 percent, financial newspaper Barron’s said on Saturday. The company will benefit from acquisition of hospital operator Vanguard Health and a majority stake in United Surgical Partners, the report said.

** DOW CHEMICAL CO, $45.67, +2.74 pct

Dow said it expects a share exchange offer in connection with the sale of most of its chlorine business to return about $1.5 billion in value to shareholders.

** SUNCOR ENERGY INC, $26.49, -1.38 pct

The Canadian oil and gas producer launched an all-stock hostile bid for Canadian Oil Sands Ltd, valued at about C$4.3 billion ($3.29 billion). The offer, which works out to C$8.84 per share based on Suncor’s Friday close, represents a premium of about 43 percent to Canadian Oil Sands’ Friday close.

** ALCOA INC, $10.11, +6.20 pct

Alcoa said it has signed a contract worth about $1 billion with Airbus Group for multi-material aerospace fastening systems.

** FIREEYE INC, $31.04, -6.11 pct

Piper Jaffray & Co downgraded the cybersecurity software maker’s stock to “neutral” from “overweight” and slashed its price target to $37 from $60. “We are concerned that the recent string of departures could create disruption at the company, potentially impacting product development or sales growth,” Piper analysts wrote.

** CADIZ INC, $0.4093, +14.33 pct

The water and land resource development company said U.S. Bureau of Land Management determined that its proposed use of a portion of the Arizona and California Railroad’s 1875 Act right-of-way for water pipeline would require a permit. The company said it’s in the process of securing legal clarification of its right to access and will continue to complete the remaining milestones for the project.


New York Times article on Monday likened Valeant’s pricing strategy to that of Martin Shkreli, the controversial chief executive of Tiny Turing Pharmaceuticals, after the small company raised the cost of an old anti-infective drug by more than 5,000 percent.

** ARCELORMITTAL SA, $5.79, +6.24 pct

Citi raised its rating on the steel producer’s stock to “buy” from “sell”. The brokerage said the valuation meant it was worth the risk of being early to upgrade after a 50 percent share price fall since May.


The fertilizer company said it had withdrawn its $8.9 billion offer for German potash producer K+S, citing a decline in global commodity and equity markets and a lack of engagement by K+S management. (Compiled by Arunima Banerjee in Bengaluru; Editing by Anil D’Silva)

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