April 1, 2016 / 2:02 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Tesla, Marriott, Chipotle, Marvell

(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 lower on Friday after data showed employers added more jobs than expected in March, a sign of economic resilience that could encourage the Federal Reserve to raise interest rates this year. The Dow Jones industrial average was down 0.48 percent at 17,599.49, the S&P 500 was down 0.56 percent at 2,048.22 and the Nasdaq Composite was down 0.42 percent at 4,849.34.

** TESLA MOTORS, $240.35, +4.60 pct

The company gave a sneak preview Thursday of its Model 3 sedan, saying more than 130,000 people had ordered the car, even though it is more than a year away from production.

Shares surge as Model 3 orders speed past estimates


** MARRIOTT INTERNATIONAL INC, $67.668, -4.93 pct

China’s Anbang Insurance Group Co said on Thursday it has abandoned its $14 billion bid for Starwood Hotels & Resorts Worldwide, paving the way for Marriott to buy the Sheraton and Westin hotels operator.

“MAR’s shareholder vote is uncertain given the higher price and our feeling that MAR’s raising and altering the mix of its equity and cash from its original bid was almost unnecessary,” JP Morgan analysts write in a note.

BREAKINGVIEWS-Anbang risks a Year of the Stalking Horse

** CHIPOTLE MEXICAN GRILL INC, $463.11, -1.67 pct

Goldman cuts rating on the burrito chain operator to “neutral”. “Increased concerns about the cadence and costs of the comp recovery now fully offset our confidence in longer-term upside,” analyst Karen Holthouse writes in note.

Graphic on Chipotle's woes (bit.ly/1UxpO4y)

** SUNEDISON INC , $0.488, -9.66 pct

The struggling solar company said it received a subpoena from the U.S. Department of Justice seeking details related to its failed deal to buy Vivint Solar Inc and transactions with its two publicly listed units.

** TERRAFORM POWER INC, $8.97, +3.70 pct

Hedge fund Appaloosa LP raised its stake to 10.88 percent in the company, one of the two publicly listed units of struggling solar company SunEdison.

** NOVARTIS AG, $70.7, -2.40 pct

Ankara Chief Prosecutor launched investigation into the Swiss drugmaker’s Turkish unit, local media reported on Friday, after allegations it benefited from bribery.

** BLACKBERRY LTD, $7.4824, -7.51 pct

The smartphone industry pioneer reported a larger-than-expected slide in fourth-quarter revenue amid weakness in hardware sales.


The chipmaker said it is unable to file 10-K for year ended Jan. 30 due to internal accounting probe.


The drugmaker and Sanofi said their experimental treatment for eczema proved highly effective in two large studies, without serious side effects often seen with standard treatments for the chronic inflammatory skin disease.


Boeing said it is ending an agreement with one of its largest suppliers, Spirit, effectively taking away manufacturing of profitable spare parts used in aircraft repairs. (Compiled by Rosmi Shaji in Bengaluru; Editing by Sriraj Kalluvila)

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