(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) Wall Street rose for the first time in three days on Tuesday, helped by technology and discretionary stocks.
The Dow Jones Industrial Average was up 0.72 percent at 18,226.01, the S&P 500 was up 0.63 percent at 2,159.59 and the Nasdaq Composite was up 0.87 percent at 5,303.283.
** AMGEN INC, $171.25, -1.31 pct
** LIGAND PHARMACEUTICALS INC, $99.87, -11.69 pct
Amgen said its multiple myeloma drug, Kyprolis, did not surpass Takeda Pharmaceutical Co Ltd’s Velcade in a head-to-head late-stage study in previously untreated patients.
Ligand gets royalties on Kyprolis sales.
** AMAZON.COM INC, $815.76, +2.08 pct
JP Morgan raised its target price on the online retailer’s stock to $1000 from $925.
** KITE PHARMA INC, $59.7992, +8.77 pct
** JUNO THERAPEUTICS INC, $33.54, +13.12 pct
The company said its experimental CAR T-cell therapy, which helps the immune system fight cancer, was highly effective in treating aggressive non-Hodgkin lymphoma, although two deaths were related to the drug, according to interim data from a mid-stage trial.
Juno Therapeutics has a drug for the same indication.
** GILEAD SCIENCES INC, $79.1163, -1.87 pct
Leerink downgraded the stock to “market perform” and cut its target price to $94 from $112.
** AUTOZONE INC, $773.78, +1.96 pct
Morgan Stanley upgraded the auto parts retailer’s stock to “overweight” from “equal weight” and raised its target price to $840 from $820.
** NORDIC AMERICAN TANKERS LTD, $10.025, -6.13 pct
The company announced a stock offering of 11 million shares, of which about 100,000 shares will be bought by the CEO and 400,000 shares by the vice chairman. NAT also said CEO bought 210,000 shares worth $2.3 million between Aug. 17 and 22.
** ELI LILLY AND CO, $80.775, +1.58 pct
Goldman Sachs upgraded the drugmaker’s stock to “buy” from “neutral” and raised its target price to $95 from $89.
** MARRIOTT INTERNATIONAL INC, $67.235, +0.13 pct
Morgan Stanley upgraded the hotelier’s stock to “overweight” and raised its target price to $78 from $73.
** WELLS FARGO & CO, $45.03, +0.33 pct
FBR cuts its price target on the company’s stock to $50 from $63.
** RICE ENERGY INC, $25.01, -7.85 pct
The oil and gas producer said it would buy Vantage Energy for about $2.7 billion, by paying pay about $1.02 billion cash, issuing 39.1 million shares worth about $980 mln and assuming about $700 million in debt. Rice says to fund deal from offering of 40 million shares priced at $25.50 apiece, a 6 percent discount to Monday close.
** MIMECAST LTD, $16.11, +1.96 pct
The cloud security services provider announced the launch of a secondary offering of 4 million shares.
** MEDICAL PROPERTIES TRUST INC, $14.95, -0.27 pct
The healthcare REIT’s upsized offering of 50 million shares was priced at $14.50 apiece, a 3.3 percent discount to its Monday close. The proceeds would be used in part to fund a $1.25 billion deal to acquire nine acute care hospitals from and leased them back to Steward Health Care System LLC, an affiliate of Cerberus Capital Management.
** SYNNEX CORP, $115.47, +8.75 pct
The IT services company reported better-than-expected third-quarter revenue, helped by strong growth in its technology systems and products business.
** J M SMUCKER CO, $133.88, -2.79 pct
Credit Suisse downgraded the Folgers coffee maker’s stock to “neutral” from “outperform” and cut its target price to $145 from $158.
** PIERIS PHARMACEUTICALS INC, $1.7, +1.19 pct
The German drug developer presented positive new preclinical data for its bispecific cancer immunotherapeutic lead drug candidate, PRS-343, at a conference.
** SUNOCO LOGISTICS PARTNERS LP, $27.85, -4.49 pct
The pipeline operator said on Monday it would buy Vitol Group’s crude oil unit in Permian Basin in West Texas for $760 million.
** ARRAY BIOPHARMA INC, $6.415, -2.95 pct
Jefferies became the latest brokerage to hike its price target on the stock a day after shares surged 81 percent after the company reported positive late-stage data on a combination treatment for skin cancer.
** CARTER’S INC, $89.54, -4.10 pct
Wells Fargo downgraded the children’s apparel maker’s stock to “market perform” from “outperform”.
** BOSTON SCIENTIFIC CORP, $23.68, -0.21 pct
** ENDOCHOICE HOLDINGS INC, $7.98, +89.10 pct
Boston Scientific said it would acquire EndoChoice for $8.00 per share.
** CLEAN DIESEL TECHNOLOGIES INC, $3.65, -1.88 pct
Kanis S.A. reported a 52.6 percent stake in the emission control system maker as of Aug. 25. (bit.ly/2bV4IPJ)
** CEL-SCI CORP, $0.2767, -39.19 pct
The company said the FDA placed a clinical hold on a late-stage trial testing multikine (leukocyte interleukin injection) in advanced primary head and neck cancer.
** NANO DIMENSION LTD, $7.5999, -4.16 pct
The Israeli 3D printed electronics company said an offering of 1.85 million ADS was priced at $6.50 a piece. The company expects gross proceeds of about $12 million to use for sales and marketing, scaling up production and other corporate purposes.
** PRONAI THERAPEUTICS INC, $1.8841, +0.75 pct
The clinical-stage company said it obtained an exclusive license from the CRT Pioneer Fund LP for worldwide rights to develop and market a cancer treatment.
** WESTPORT FUEL SYSTEMS INC, $1.47, +5.38 pct
The Canadian alternative fuel systems maker said it signed a multi-year agreement to supply Honda Turkey liquefied petroleum gas systems for the new Civic ECO model that will be launched in October.
** PEREGRINE PHARMACEUTICALS INC, $0.438, +4.96 pct
The drug developer said pre-clinical study data on its investigational cancer drug Bavituximab that showed the drug enhanced anti-tumor activity in breast cancer.
** LINCOLN EDUCATIONAL SERVICES CORP, $2.25, -4.26 pct
The educational services provider said it met the financial standards set by the U.S. Department of Education and it will no longer have to comply with the Zone Alternative restrictions, including heightened cash monitoring.
** SOUTHWEST AIRLINES CO, $38.23, +3.69 pct
** AMERICAN AIRLINES GROUP INC, $36.02, +3.12 pct
** DELTA AIR LINES INC, $38.995, +2.51 pct
Carriers’ shares took off as oil prices fell.
** CORRECTIONS CORP, $14.77, -7.46 pct
** GEO GROUP, $23.75, -3.53 pct
Democrat presidential candidate Hilary Clinton criticized states’ use of for profit prisons in her first debate with rival Donald Trump.
** FRANCESCA’S HOLDINGS CORP, $15.8567, +3.91 pct
Stifel upgraded the women’s apparel and accessories retailer’s stock to “buy” from “hold”.
** CHESAPEAKE ENERGY CORP, $6.075, -8.23 pct
Chesapeake Energy said on Tuesday that two directors, including a representative of activist investor Carl Icahn, resigned on Monday, a week after Icahn more than halved his stake in the natural gas producer.
** INVENTERGY GLOBAL INC, $1.84, +12.20 pct
The intellectual property licensing company said that Pabellon Inc, a partner of Inventergy’s subsidiary, is engaged with a Fortune 100 company to create a proof of concept (POC).
** SOUTHWESTERN ENERGY CO, $12.89, -5.98 pct
** MURPHY OIL CORP, $25.51, -4.28 pct
** DEVON ENERGY CORP, $38.23, -3.56 pct
** CONCHO RESOURCES INC, $122.95, -2.81 pct
The shares of oil and gas producers fell as hopes for a deal in Algiers regarding limiting oil output faded.
** FACTSET RESEARCH SYSTEMS INC, $166.58, -5.45 pct
The financial data analysis provider reported fourth-quarter revenue which missed estimates.
** NEOGEN CORP, $55.45, -3.70 pct
Animal food safety and diagnostic devices maker reported lower-than-expected first quarter revenue after it withdrew its thyroid replacement product from the market.
** BOFI HOLDINGS INC, $22.805, +4.90 pct
Compass Point started coverage of the internet banking company’s stock with a “buy” rating and a price target of $27.50.
** AVIS BUDGET GROUP INC, $36.355, -6.61 pct
** HERTZ GLOBAL HOLDINGS INC, $42.93, -7.04 pct
Trader said that Avis, a car rental company, provided cautious comments about its summer travel business at Deutsche Bank leveraged finance conference.
Hertz shares also dropped on the same news.
** FIRST SOLAR , $38.74, +4.00 pct
** SUNPOWER CORP , $8.7, +5.20 pct
** VIVINT SOLAR INC , $3.09, +3.51 pct
** JINKOSOLAR HOLDING CO LTD , $15.5, +3.13 pct
Shares of the solar companies rose following Monday’s U.S. presidential debate. Democrat Hillary Clinton pushed for more use of clean energy, including solar panels.
** ENERGY RECOVERY INC , $16.29, +6.96 pct
Evercore ISI starts coverage on the energy recovery device maker’s shares with “buy” and a price target of $23.
** B2GOLD CORP, $3.4, -11.23 pct
The Canadian gold producer said that the Masbate mine in the Philippines will get a show-cause order related to operations.
Philippines ordered suspension of 20 more mines for environmental violations.
** ALLIANCE ONE INTERNATIONAL INC, $19.02, -11.70 pct
The tobacco processor announced offering of $275 mln worth of senior secured first lien notes due April 15, 2021. (Compiled by Aishwarya Venugopal in Bengaluru; Edited by Savio D’Souza and Shounak Dasgupta)