February 27, 2017 / 6:24 PM / 8 months ago

CORRECTED-BUZZ-U.S. STOCKS ON THE MOVE-Defense stocks, HTG Molecular, AmTrust

(In Feb 27 item, corrects entry on Apple after CNBC transcript of Buffett interview shows size of Berkshire Hathaway’s 2017 share purchase was “70 million plus” shares, not 120 million)

* Eikon search string for individual stock moves: STXBZ

* The Day Ahead newsletter: tmsnrt.rs/2ggOmBi

* The Morning News Call newsletter: tmsnrt.rs/2fwPLTh The S&P 500 and the Dow Jones Industrial Average edged up to record intraday highs on Monday, after President Donald Trump said he would make a "big" statement on infrastructure on Tuesday.

The Dow Jones Industrial Average was down 0.01 percent at 20,819.38, the S&P 500 was down 0.01 percent at 2,367.16 and the Nasdaq Composite was up 0.02 percent at 5,846.346.

** TESLA INC, $244.85, -4.73 pct

Goldman Sachs downgraded the electric carmaker’s stock to “sell” from “neutral” and lowered its price target on concerns over the company’s crucial Model 3 launch, an unproven solar business and the likelihood of a capital raise this year.

** APPLE INC,$137.08,+0.30 pct

Warren Buffett told CNBC that his conglomerate Berkshire Hathaway had purchased “70 million plus” shares of the iPhone maker in 2017 and that U.S. stocks were not in a “bubble territory.”

** LA JOLLA PHARMACEUTICAL CO,$36.40, +83.19 pct

The drug developer said its lead experimental drug to treat low blood pressure met the main goal of a late-stage study on patients with distributive shock who have not adequately responded to existing treatments.

** SHUTTERSTOCK INC, $42.27, -18.13 pct

The stock image provider forecasts 2017 revenue of $545 million-$560 million, below estimates of $578.2 million.

** GOGO INC, $10.74, +17.76 pct

The in-flight internet provider forecast 2017 revenue of $670 million to $695 million, above estimates of $662.1 million.

** ASHFORD HOSPITALITY TRUST INC, $6.70, +4.52 pct

** FELCOR LODGING TRUST INC, $7.26, +2.54 pct

Lodging REIT Ashford’s offer to buy FelCor was “woefully inadequate”, activist hedge fund Land and Buildings Investment Management LLC, which holds a stake in FelCor, said.

** ONCOSEC MEDICAL INC, $1.44, +3.60 pct

The U.S. Food and Drug Administration granted the immunotherapy developer’s experimental metastatic melanoma drug, ImmunoPulse IL-12, fast track status.

** WAL-MART STORES INC, $71.68, -0.98 pct

** KROGER CO, $32.15,-3.42 pct

Wal-Mart is running a new price-comparison test in at least 1,200 U.S. stores and squeezing packaged goods suppliers in a bid to close a pricing gap with German-based discount grocery chain Aldi and other U.S. rivals like Kroger, according to four sources familiar with the moves.

** SOTHEBY‘S,$45.62, +13.79

The auction house reported a better-than-expected profit for the fourth quarter, helped by a 12 percent decline in costs.

** PIERIS PHARMACEUTICALS INC,$2.00, +4.17

The biotechnology company said it would get an immediate option payment of $2.75 million from ASKA Pharmaceutical after giving the Japanese firm license development and commercial rights to its anemia drug, PRS-080.

** LOCKHEED MARTIN CORP,$268.78, +1.74

** RAYTHEON CO, $155.47, +1.30

** NORTHROP GRUMMAN CORP, $248.35, +1.35

U.S. defense companies’ shares gained after President Donald Trump said he will seek to boost Pentagon spending by $54 billion in his first budget proposal.

** GRANA Y MONTERO,$2.35, -29.22

The Peruvian construction group’s shares extend losses since a local magazine reported the company knew about bribes paid to a former president by its Brazilian partner Odebrecht SA.

** E.W. SCRIPPS CO,$22.61, +6.05

Benchmark Co raised its price target on the broadcasting company’s shares to $24 from $19 as it swung to a fourth-quarter profit and reported better-than-expected revenue.

** CELLECTAR BIOSCIENCES INC,$2.34, +9.35

The drug developer said its lead drug to treat patients with relapsed or refractory multiple myeloma achieved median progression-free survival for 133 days and median overall survival for 17.7 months in an early-stage study.

** HORIZON PHARMA PLC,$16.63, -4.70

The drugmaker forecast 2017 sales of $1.24 billion-$1.29 billion versus analysts’ view of $1.28 billion. {nL3N1GC4BB]

** AMTRUST FINANCIAL SERVICES INC,$23.08, -16.56

The property and casualty insurer reported a lower fourth-quarter operating profit, hurt by a reserve charge.

** TEGNA INC,$25.79, +3.99

The T.V. station operator reported an about 10 percent rise in revenue to $887.4 million for the fourth quarter, helped by strong performance of its media segment.

** HTG MOLECULAR DIAGNOSTICS,$2.98, +142.28

The molecular diagnostics company said it would launch a new genetic-sequencing service in the current quarter ending March.

** VALEANT PHARMACEUTICALS INTERNATIONAL LTD,$16.67, +3.03

The Canadian drugmaker said it scaled up the gastrointestinal unit Salix’s sales force by nearly 40 percent.

Valeant will report fourth-quarter results before the bell on Tuesday.

** ARMSTRONG WORLD INDUSTRIES INC,$44.65, +11.35

The ceiling maker forecasts full-year sales above estimates and said it expects growth in repair, remodeling and new construction activity in 2017. (Compiled by Aishwarya Venugopal in Bengaluru; Editing by Sriraj Kalluvila and Maju Samuel)

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