(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) Healthcare and energy stocks drove gains on Wall Street on Wednesday ahead of the release of minutes from the U.S. Federal Reserve's meeting on interest rates in March. The Dow Jones industrial average was up 0.20 percent at 17,639.07, the S&P 500 was up 0.53 percent at 2,056 and the Nasdaq Composite was up 0.99 percent at 4,892.012.
** PFIZER INC, $32.84, +4.72 pct
** ALLERGAN PLC, $244.3, +3.28 pct
U.S. drugmaker Pfizer and Ireland-based Allergan Plc formally announced that they were scrapping their $160 billion merger, marking a big win for President Barack Obama who has been pushing to curb tax-slashing “inversion” deals.
** BAKER HUGHES INC, $42.51, +8.00 pct
** HALLIBURTON CO, $36.21, +5.26 pct
U.S. Justice Department filed lawsuit to stop merger of Baker Hughes and Halliburton, saying it would hurt competition in the sector. Halliburton said companies will “vigorously contest” the lawsuit.
** CREE INC, $24.5, -15.66 pct
The light-emitting diode maker estimated third-quarter revenue and adjusted profit per share below analysts’ expectations, hurt by lower demand for its lighting products.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $33.98, +18.27 pct
Billionaire investor William Ackman said the Canadian drugmaker’s board could find a new CEO in “weeks” and stock will become “investable” again once annual report is filed.
** BIND THERAPEUTICS INC, $1.83, -23.75 pct
The biotechnology company said it halted enrollment for its mid-stage study due to worse-than-expected initial data from its lead drug to treat advanced cervical and head and neck cancers.
** TESARO INC, $47.87, +11.85 pct
Johnson & Johnson unit would help develop and market Tesaro’s prostate cancer drug, Niraparib.
** WPX ENERGY INC, $6.7, +5.68 pct
Wunderlich started coverage of the oil and gas company’s stock with a “buy” rating and a price target of $11.
** ACUITY BRANDS INC, $248.79, +10.57 pct
The lighting company posted better-than-expected quarterly results, helped by a 40 percent rise in sales from a year earlier in its LED-based products, which represent about 55 percent of its net sales.
** LGI HOMES INC, $26.37, +11.50 pct
The homebuilder closed 367 homes in March, a year-over-year growth of 23.2 percent.
** MOMO INC, $15.845, +31.60 pct
Alibaba Investment Ltd, a unit of Alibaba Group Holding Ltd , joined a group planning to acquire the Chinese mobile chat app company.
** INCYTE CORP, $81.38, +10.95 pct
The drugmaker acquired rights from Eli Lilly & Co to develop and commercialize oral pill, ruxolitinib, for treating patients with graft-versus-host disease.
** GLOBAL PAYMENTS INC, $70.8, +8.67 pct
The payment processor reported better-than-expected quarterly results and pegged its adjusted net revenue growth for the year at the upper end of its previously estimated range.
** HARLEY-DAVIDSON INC, $46.32, -7.06 pct
Retail trends for motorcycle company were “weak” in March, ITG Investment Research analyst John Tomlinson said in a note.
** POLYCOM INC, $11.6138, +7.14 pct
Mitel Networks Corp is in advanced talks to buy video conferencing equipment maker Polycom, Bloomberg reported. The deal could come as early as next week.
** TRONOX LTD, $6.48, -4.57 pct
UBS Investment Research downgraded the Titanium-dioxide maker to “sell”, saying it expected “no meaningful recovery in sight” for titanium dioxide prices due to overcapacity.
** OMNOVA SOLUTIONS INC, $5.82, +7.98 pct
The specialty chemical maker reported a higher-than-expected first-quarter profit as costs fell.
** SAREPTA THERAPEUTICS INC, $21.2887, +9.01 pct
Oppenheimer hiked its price target on the drug developer to $60 from $45 in anticipation of a positive recommendation from an FDA panel on its Duchenne muscular dystrophy drug, eteplirsen.
** CONSTELLATION BRANDS INC, $159.1, +5.11 pct
The alcoholic beverage maker reported better-than-expected quarterly net sales, helped by strong demand for its premium Corona and Modelo beer brands.
** WYNN RESORTS LTD, $88.5, -2.66 pct
The casino operator sees first-quarter revenue largely in line with analysts’ estimates. Also, HSBC downgraded shares of Wynn Macau to “reduce” from “hold”, citing valuation. (Compiled by Kshitiz Goliya in Bengaluru; Editing by Anil D’Silva)