April 11, 2016 / 2:47 PM / in 2 years

CORRECTED-BUZZ-U.S. STOCKS ON THE MOVE-Chesapeake, Hatteras, Hertz

(Corrects Annaly Capital’s stock price in item number 2)

Wall Street was higher on Monday as investors braced for corporate earnings season, with Alcoa set to post first-quarter results after the market closes. The Dow Jones industrial average was up 0.64 percent at 17,689.99, the S&P 500 was up 0.54 percent at 2,058.62 and the Nasdaq Composite was up 0.76 percent at 4,887.365.

** CHESAPEAKE ENERGY CORP, $4.22, +12.23 pct

U.S. natural gas producers said its borrowing limit was reaffirmed at $4 billion, at a time when most oil and gas producers are bracing for steep cuts to their credit lines.

** HATTERAS FINANCIAL CORP $15.68, +9.96 pct


Annaly Capital Management will acquire Hatteras Financial Corp for $1.5 bln in cash and stock.

** HERTZ GLOBAL HOLDINGS INC $9.14, -5.77 pct

** AVIS BUDGET GROUP INC $23.66, -4.21 pct

Hertz said it expected first-quarter and full-year car rental revenue to be lower than previously forecast due to excess industry (fleet) capacity.

** NATIONAL OILWELL VARCO INC > $27.42, -5.81 pct

The largest U.S. oilfield equipment maker said it would cut its quarterly dividend to 5 cents per share from 46 cents, as it struggles to cope with a prolonged slump in oil prices.

** NORFOLK SOUTHERN CORP $80.5, -1.21 pct


The number 2 Canadian railroad company said it had scrapped efforts to buy Norfolk, almost six months after it launched its unsolicited $28 billion bid for the fourth-largest U.S. railroad operator.

** YAHOO INC YHOO.O $36.61, +1.50 pct Britain’s Daily Mail is in talks with potential partners to mount a joint bid for the company’s internet assets, eyeing a plan to buy the troubled U.S. Internet pioneer to help boost advertising revenues from the Mail’s globally popular online news site.


The Canadian drugmaker said it had asked outgoing Chief Executive Michael Pearson to cooperate with the U.S. Senate Committee on Aging after he failed to show up at a hearing on Friday.

** SYNERGY RESOURCES CORP $7.81, -7.13 pct The oil and gas producer is set to price its second follow-on offering of this year prior to market open. Offering represents about 15 percent of 126.2 million shares outstanding as of March end.

** TRANSCANADA CORP, $39.23, +1.42 pct The Canada’s second-largest pipeline operator on Sunday said it had restarted the 590,000- barrel-per-day Keystone crude pipeline at reduced pressure after it received American authorization to do so.

** NOBLE ENERGY INC, $32.22, +1.45 pct The Texas-based company is in talks with Israeli institutions to sell an 11 percent stake in Israel’s Tamar natural gas field for at least $1 billion due to cash flow needs, Israeli media reported on Sunday.

** GENERAL MOTORS CO, $29.82, +1.53 pct The U.S. automaker settled another ignition-switch case after the plaintiff and the U.S. automaker agreed to a voluntary dismissal, according to a court filing. (Reporting by Vishaka George in Bengaluru; Editing by Anil D’Silva)

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