(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 opened higher on Wednesday, on track for their third straight day of gains, as oil prices held on to their gains. The Dow Jones industrial average was up 0.84 percent at 16,332.82, the S&P 500 was up 0.88 percent at 1,912.19 and the Nasdaq Composite was up 0.93 percent at 4,477.395.
** KINDER MORGAN INC, $16.99, +8.77 pct
Warren Buffett’s Berkshire Hathaway Inc on Tuesday disclosed a new investment in the pipeline operator of about 26.53 million shares worth roughly $395.9 million at year end, while Leon Cooperman’s Omega Advisors sold its entire stake of more than 713,000 shares.
David Tepper’s Appaloosa Management hedge fund snapped up 9.4 million shares of Kinder Morgan, while Soros Fund Management took a small stake of 50,700 shares.
** FREEPORT MCMORAN INC, $6.87, +7.85 pct
** CHENIERE ENERGY INC, $27.15, +2.14 pct
Activist investor Carl Icahn increased his stake in Freeport McMoRan by 4 million shares to 104 million class B shares over the quarter and increased his stake in beaten-down liquefied natural gas company Cheniere by nearly 31,000 shares compared to a filing in early December.
** FOSSIL GROUP INC, $43.5639, +26.42 pct
The watch and accessories maker reported better-than-expected Q4 profit and revenue, helped by strong demand for its Fossil and Skagen brands and robust sales in Europe.
** DEVON ENERGY CORP , $19.12, -10.07 pct
The oil producer slashed its dividend and capital spending 75 percent on Tuesday and said it will lay off 20 percent of its staff as low prices roil shale oil companies.
** FLEXION THERAPEUTICS INC, $12.42, +13.95 pct
The drug developer’s pain drug was found to be effective in a late-stage study, taking the company one step closer to its first ever U.S. marketing approval.
** PRICELINE GROUP INC, $1,233.5, +11.06 pct
The travel websites operator reported a higher-than-expected quarterly profit after hotel and rental car bookings rose, with travel demand suffering only briefly from the Nov. 13 Paris attacks.
** TEREX CORP, $21.47, +5.04 pct
China’s Zoomlion Heavy Industry Science and Technology Co confirmed it had made an offer for the U.S. crane maker that values the company at about $3 billion. Zoomlion is offering $30 per share to acquire Terex, or about 47 percent premium to Terex’s Tuesday’s close.
** RACKSPACE HOSTING INC, $17.08, -6.00 pct
The cloud services company forecast first-quarter revenue of $517 million-$521 million, well below analysts’ average estimate of $529 million.
** CATALYST PHARMACEUTICALS INC, $1.01, -45.41 pct
The drug developer says it got a “refusal to file” letter from FDA for Firdapse, which is being tested for the symptomatic treatment of Lambert Eaton myasthenic syndrome and congenital myasthenic syndromes.
** REGULUS THERAPEUTICS INC, $7.48, +19.11 pct
The drug developer said interim data showed that patients tested with its hepatitis C drug combination treatment displayed sustained viral response in an ongoing mid-stage study.
** CERNER CORP, $50.64, -8.69 pct
At least 14 brokerages cut price targets on the electronic health record provider’s stock after the company disappointed investors with weak quarterly bookings and outlook.
** INOVIO PHARMACEUTICALS INC, $6.97, +6.09 pct
The drug developer said preclinical testing of its vaccine for Zika virus induced robust and durable response in mice and that it expected to test the vaccine in humans before the end of 2016.
** T-MOBILE US INC, $37.47, +2.80 pct
The U.S. telecom company nearly tripled its profit in the fourth quarter as it gained more than 2 million subscribers drawn by aggressive promotions like free video streaming.
** GARMIN LTD, $39.85, +13.11 pct
The GPS-based gadget maker reported higher-than-expected quarterly revenue, helped by strong demand for navigational devices used in aircraft and fitness trackers, and forecast full-year revenue above estimates.
** SHOPIFY INC, $22.8, +11.22 pct
The Canadian company, which makes software that helps retailers set up online stores, forecast a 56-61 percent jump in its 2016 revenue as it adds more customers.
** NOBLE ENERGY INC, $29.69, +3.67 pct
The U.S. oil and gas producer reported a surprise quarterly profit as its operating costs per barrel of oil fell to the lowest in eight years.
Compiled by Subrat Patnaik in Bengaluru; Editing by Sriraj Kalluvila