September 13, 2016 / 5:27 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Applied Genetic, Intersil, Liberty Media

(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,

U.S. stocks fell more than 1 percent on Tuesday, with energy stocks hit by lower oil prices and financials dropping on diminished prospects of a near-term rate hike.

The Dow Jones Industrial Average was down 1.21 percent at 18,104.01, the S&P 500 was down 1.31 percent at 2,130.79 and the Nasdaq Composite was down 1.09 percent at 5,155.231.


The drug developer cited vendor errors for re-test study agent in XLRS study treatment for retinoschisis done in collaboration with Biogen Inc.

** INTERSIL CORP, $21.715, +9.89 pct

Renesas Electronics Corp on Tuesday said it has agreed to buy U.S. chipmaker Intersil Corp for $3.2 billion, an all-cash deal that bolsters the Japanese group’s efforts to refocus the company around automotive chips.

** ENERGY RECOVERY INC, $13.54, +6.70 pct

The energy recovery device maker’s shares rose after Jefferies upgraded to “buy” from “hold”; raised price target to $20 from $8, a potential 58 percent upside to Monday’s close.

** BLUE BUFFALO PET PRODUCTS INC, $24.155, -7.42 pct

The organic pet food maker announced sale of 14.3 million shares by selling stockholders in offering expected to close on September 16. Bookrunners confirm transaction priced at $25.00, a 4.2 percent discount to company’s $26.09 last sale.


The weight management company said company’S CEO James Chambers would resign at the end of the month.

** LIBERTY MEDIA CORP, $27.85, +15.90 pct

Citigroup raises price target, while Pivotal Research starts coverage with “buy” rating.

** VERTEX PHARMACEUTICALS INC, $94.78, -3.15 pct

The pharmaceutical company’s shares fell after Raymond James analyst Christopher Raymond started coverage of company at “market perform”, saying: “With shares already trading at 15x current-year consensus revenue estimates, we await a better entry point.”

** JETBLUE AIRWAYS CORP, $17.23, +2.68 pct

The U.S. airline shares were up on August traffic data, but projected that Q3 revenue per available seat mile (RASM), a closely watched industry metric, expected to fall 3 to 4 pct.

** APPLE INC, $108.34, +2.75 pct

The iPhone maker’s shares rose after the wireless carrier Sprint Corp and T-Mobile US Inc said they received strong pre-orders for the company’s iPhone 7.

** NETFLIX INC, $96.02, -3.06 pct

Shares of the video streaming service provider fell after Macquarie Research downgraded to “underperform” from “neutral” and retained PT $85, a 14 percent potential downside to Monday’s close.


The defense and security equipment maker won a $54 million contract to provide five Marine Common Aircrew Trainers to the United States Marine Corps.

** ANADARKO PETROLEUM CORP, $57.76, -0.05 pct

Freeport McMoRan Inc said on Monday it will sell its deepwater Gulf of Mexico oil and natural gas assets to Anadarko Petroleum Corp for $2 billion as it looks to cut its heavy debt load.

** EXXON MOBIL CORP, $85.61, -1.92 pct

** MURPHY OIL CORP, $26.17, -7.43 pct

** MARATHON OIL CORP, $14.4, -6.92 pct

** HESS CORP, $47.78, -4.21 pct

Shares of oil and gas producers and related companies down after International Energy Agency and OPEC indicate global crude glut persisting for much longer than previously expected.

** WELLS FARGO & CO, $46.785, -3.62 pct

The U.S. bank said on Tuesday it would eliminate all product sales goals in retail banking, starting next year.

** BANK OF AMERICA CORP, $15.795, -0.66 pct

** JPMORGAN CHASE & CO, $66.55, -0.76 pct

** GOLDMAN SACHS GROUP INC, $167.2, -2.26 pct

** CITIGROUP INC, $47.13, -1.38 pct

** MORGAN STANLEY, $31.52, -2.23 pct

U.S. banks down as prospects of an interest rate hike in the near term diminish and oil prices fall. (Compiled by Shalom Aarons in Bengaluru; Edited by Shounak Dasgupta)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below