March 18, 2016 / 5:58 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Starwood, BofA, JPMorgan, Eagle Pharma

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter,; for the Morning News Call newsletter, Wall Street rose on Friday, pushing the S&P 500 into positive territory for 2016, as the Fed's tempered view on interest rates, a weakened dollar and rising oil prices whetted investors' risk appetite. The Dow Jones industrial average was up 0.48 percent at 17,566.04, the S&P 500 was up 0.24 percent at 2,045.39 and the Nasdaq Composite was up 0.15 percent at 4,782.347.

** STARWOOD HOTELS & RESORTS INC, $80, +4.73 pct

** MARRIOTT INTERNATIONAL INC, $73.25, +2.02 pct

Starwood Hotels & Resorts Inc, the operator of Sheraton and Westin hotels, said on Friday it was planning to accept a raised buyout offer from a group led by China’s Anbang Insurance and would scrap its deal with Marriott International Inc.

** AEROPOSTALE INC, $0.25, -47.92 pct

The teen apparel retailer said it was exploring strategic alternatives, including a sale, after posting its 13th straight quarterly loss.

** BANK OF AMERICA CORP, $13.73, +2.46 pct

The bank said its board has authorized share repurchase of up to $800 million, in addition to the $4 billion share buyback announced earlier.

** JPMORGAN CHASE & CO, $60.08, +2.26 pct

The bank’s board authorized repurchase of up to an additional $1.88 billion of common equity through end of second quarter of 2016. This is in addition to $6.4 billion of common equity authorized for repurchase last year.

** EAGLE PHARMACEUTICALS INC, $41.57, -22.56 pct

The drugmaker said the U.S. Food and Drug Administration rejected its drug to prevent blood clots in certain patients undergoing heart surgery.

** ADOBE SYSTEMS INC, $93.69, +4.15 pct

The photoshop maker raised its full-year profit and revenue forecast that topped market expectations, bolstered by strong demand for its Creative Cloud package of software tools.

** WYNN RESORTS LTD, $94.37, +6.27 pct

** LAS VEGAS SANDS CORP, $53.61, +0.45 pct


Macquarie upgraded its overall view on the Macau gaming sector to “neutral” from “underweight”. Broker sees brighter prospects for gaming revenue recovery, particularly in the VIP segment, and also sees small improvements in conditions in China that correlate with Macau gaming revenue such as real estate prices and off-balance sheet funding.

** AFFYMETRIX INC, $15.995, +14.09 pct

A group of former Affymetrix executives offered to buy the gene testing and analysis company for about $1.5 billion, looking to trump a deal with Thermo Fisher Scientific Inc .

** NEW YORK & CO, $3.34, +26.52 pct

The women’s apparel maker forecast first-quarter adjusted profit above analysts’ average estimate and expects net sales and comparable store sales to increase in low single-digit percentage.

** ENPRO INDUSTRIES INC, $60.39, +3.50 pct

The company said it has agreed to a $480 million settlement to resolve current and future personal injury claims related to its asbestos-lined gaskets used in pipes, valves and other industrial applications.

** COLUMBIA PIPELINE GROUP INC, $24.83, +5.61 pct

** TRANSCANADA CORP, $37.63, -1.18 pct

The company behind the controversial Keystone XL oil pipeline said on Thursday it will buy Columbia Pipeline Group for $10.2 billion, creating one of North America’s largest regulated natural gas transmission businesses.

** SYNERGY PHARMACEUTICALS INC, $2.8325, -16.69 pct

The drug developer entered into exchange deals with certain holders of its convertible senior notes due 2019.

** TITAN MACHINERY INC, $11.17, -11.07 pct

The heavy equipment retailer sees fourth-quarter adjusted loss of $1.31 per share and quarterly revenue of about $335 million, both below analysts’ average estimates.

** SEARS CANADA INC, $2.59, +6.58 pct

The Canadian department store operator agreed to sell and lease back a distribution outlet in Calgary, and said it would cut more costs this year, as the company struggles with declining sales.

** HEMISPHERE MEDIA GROUP INC, $12.68, -7.04 pct

Market sources cited RBC priced 1 million shares at $13.35, a 2.1 percent discount to stock’s Thursday close. Seller(s) not identified.

** KENNAMETAL INC, $22.2, -5.21 pct

Longbow Research downgraded the mining equipment maker’s stock rating to “underperform” from “neutral”. (Compiled by Arunima Banerjee in Bengaluru; Edited by Don Sebastian)

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