February 2, 2015 / 2:58 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Exxon, Ardelyx, Highway Holdings

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U.S. stocks opened slightly higher on Monday, following sharp weekly declines on major indexes, led by stocks in the energy sector as U.S. crude futures prices rose. The Dow Jones industrial average was down 0.10 percent at 17,147.64, the S&P 500 was down 0.09 percent at 1,993.29 and the Nasdaq Composite was down 0.15 percent at 4,628.16.

** EXXON MOBIL CORP, $88.44, +1.17 pct

The world’s largest publicly traded oil company said its quarterly profit fell 21 percent as weak oil prices took a toll, but results topped Wall Street expectations due to tax benefits and a favorable arbitration ruling.

Exxon also said it will reduce its share buyback program in the first quarter by more than half to $1 billion.

** RADIOSHACK CORP, $0.2301, -16.96 pct

Hedge fund Standard General LP is in talks to serve as the lead bidder at a bankruptcy auction for the struggling consumer electronics retailer, the Wall Street Journal reported on Sunday, citing people familiar with the matter.

** BLUEBIRD BIO INC, $96.04, +3.37 pct

The drug developer said U.S. Food and Drug Administration has granted “breakthrough therapy” status to its experimental genetherapy, LentiGlobin, which aims to treat a blood disorder

** MOLYCORP INC, $0.45, +36.36 pct

The rare earth miner reported a 22 percent rise in rare earth oxide equivalent production output at Mountain Pass, and said it was seeing strong demand for magnetic rare earth material.

** ARDELYX INC, $19.7397, -26.92 pct

The drugmaker said its experimental drug “significantly” decreased phosphate levels in chronic kidney disease patients who were on dialysis.

While Tenapanor, being co-developed with AstraZeneca Plc , worked better than a placebo in the mid-stage study, it led to patients having a higher-than-expected rate of diarrhea, the company said..

** ZOGENIX INC, $1.4, +3.70 pct

The U.S. FDA approved a new version of the company’s pain drug, Zohydro

** HIGHWAY HOLDINGS LTD, $3.47, +10.16 pct

The Chinese maker of metal, plastic, electric and electronic components reported Q3 profit that more than doubled to $361,000.

** NATIONAL BANK OF GREECE, $1.19, +8.18 pct

Greece’s new left-wing government will not take any actions that would hurt the share values of the country’s banks and does not plan to appoint party officials at key management posts, the government’s spokesman said on Monday.

Greece’s bank bailout fund HFSF holds majority stakes in three of the country’s four biggest banks, National Bank , Piraeus Bank and Alpha Bank, after their recapitalization.

** ENERGY XXI LTD, $3.17, +7.82 pct

** LINN ENERGY LLC, $10.45, +1.85 pct

** MILLER ENERGY RESOURCES INC, $1.32, +12.82 pct

** OASIS PETROLEUM INC, $14.32, +6.55 pct

** HALLIBURTON CO, $41.01, +2.55 pct

** APACHE CORP, $65.12, +4.08 pct

** TRANSOCEAN LTD, $16.81, +3.13 pct

Crude oil prices rose as investors shrugged off a U.S. refinery strike and focused on a falling U.S. rig count that signaled lower production down the line.

** YINGLI GREEN ENERGY HOLD CO LTD, $1.93, +3.21 pct

** JINKOSOLAR HOLDING CO LTD, $18.26, +2.47 pct

** CANADIAN SOLAR INC, $20.9899, +2.94 pct

China aims to install 15 gigawatts of solar power capacity this year, 43 percent more than it added in 2014, as the country seeks to prop up its solar panel sector and boost the use of renewable energy despite a lack of transmission infrastructure

** CAMTEK LTD, $3.44, +3.31 pct

The Israeli chip testing equipment maker received order from Bay Area Circuits Inc for its Gryphon system, used for 3D printing of components for circuit boards.

** IMPERIAL OIL LTD , $38.85, +4.69 pct

Canada’s second-largest integrated oil producer and refiner, posted a 36.5 percent fall in quarterly profit, hurt by lower crude prices and weaker refining margins.

The company, majority-owned by Exxon Mobil Corp, expects to spend about $3.2 billion in 2015, 29 percent less than 2014.

** FTI CONSULTING INC, $37.28, -8.34 pct

The business advisory firm estimates 2014 revenue and profit below average analyst estimates and its own forecast, citing lower revenue from its economic consulting and corporate finance and technology segment

** PLURISTEM THERAPEUTICS INC, $3.28, -11.83 pct

The Israeli drug developer said larger dose of its muscle treatment developed from placental cells is not statistically significant in improving muscle strength in gluteal muscles

** OI SA, $1.87, -5.08 pct

Telecom Italia SpA is not interested in selling Brazilian wireless carrier TIM Participações SA, said Telecom Italia’s CEO, Marco Patuano, according to Brazilian newspaper Valor

Oi has been in talks with Spain’s Telefonica SA and Mexico’s America Movil SAB about making a joint bid to buy TIM and divide it three ways.

Compiled by Avik Das in Bengaluru; Editing by Sriraj Kalluvila

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