November 18, 2015 / 3:32 PM / in 2 years

BUZZ-U.S. STOCKS ON THE MOVE-Apple, Fairchild, Qualcomm, GoPro

(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 led higher by Apple and energy stocks, ahead of the release of the minutes of the Federal Reserve's October meeting which are likely to underpin expectations of an interest rate increase next month. The Dow Jones industrial average was up 0.62 percent at 17,597.33, and the S&P 500 was up 0.59 percent at 2,062.59.

** FAIRCHILD SEMICONDUCTOR INTERNATIONAL INC, $19.425, +8.64 pct

** ON SEMICONDUCTOR CORP, $9.79, -8.85 pct

ON Semiconductor said it would buy the chipmaker in a $2.4 billion deal, the latest in a rapidly consolidating semiconductor industry.

** APPLE INC, $117.24, +3.12 pct

Goldman Sachs added Apple to its list of top picks in the Americas, saying that the iPhone maker’s shares have the potential to rise as much as 43 pct from current levels.

** LOWE‘S COS INC, $72.33, -0.71 pct

The No.2 U.S. home improvement chain reported better-than-expected quarterly profit and sales at stores open at least a year, as people spent more on home improvement amid a strong recovery in the U.S. housing market.

** QUALCOMM INC, $49.7453, -6.11 pct

The chipmaker said it received communication from Korea Fair Trade Commission, alleging that the company violated South Korean competition law.

** CONAGRA FOODS INC, $40.95, +4.04 pct

Slim Jim beef jerky and Chef Boyardee pasta maker said it would spin off its Lamb Weston frozen potato products business into separate public company and rename itself Conagra Brands Inc.

** GOPRO INC, $18.935, -9.27 pct

Piper Jaffray cut its price target on the wearable camera maker’s shares, saying the company may not be able to maintain current margin expectations as selective price reductions were becoming more evident.

** STAPLES INC, $12.12, -2.65 pct

The office supplies retailer reported lower-than-expected quarterly sales, hurt by lower demand for products such as technology accessories and ink and toner.

** CITRIX SYSTEMS INC, $73, -6.91 pct

The cloud computing software maker, under pressure from activist hedge fund Elliott Management, said it would spin off its GoTo business into a listed company and cut more than 10 percent of its workforce prompting at least four brokerages to adjust their views on the stock.

** BLUEBIRD BIO INC, $83.69, +5.13 pct

Goldman Sachs started coverage of the stock with a “buy” rating and a price target of $165, saying “current share levels represent an attractive entry point, as we believe fundamentals of the company are intact”.

** ANAVEX LIFE SCIENCES, $4.36, +34.57 pct

The company said it will study experimental Alzheimer’s treatment, ANAVEX 2-73, in a large study based on guidance from the U.S. FDA.

** NORFOLK SOUTHERN CORP, $92.14, +5.94 pct

The U.S. railroad operator rejected a $28.4 billion acquisition offer by Canadian Pacific Railway Ltd on Tuesday, calling it “low-premium” and warning it would face significant regulatory hurdles.

** SOUFUN HOLDINGS LTD, $7.2, -3.36 pct

The Chinese property website operator posted a bigger quarterly loss as cost of services increased to $188.5 million from $48.8 million mainly due to increased staff, e-commerce costs and higher home decorating expenses.

** JACK IN THE BOX INC, $71.715, +2.46 pct

The hamburger restaurant chain reported better-than-expected quarterly same-store sales growth besides setting 2016 profit forecast above analyst expectations. (Reporting by Nikhil Subba in Bengaluru; Editing by Anil D‘Silva)

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