(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) U.S. stock indexes rose on Wednesday on merger activity in the healthcare sector even as energy stocks sold off after a large buildup in crude stockpiles sent oil futures reeling. The Dow Jones industrial average was up 0.13 percent at 17,899, the S&P 500 was up 0.25 percent at 2,081.42 and the Nasdaq Composite was up 0.71 percent at 4,944.941.
** MYLAN NV, $68.2175, +14.52 pct
** PERRIGO CO PLC, $196.77, +19.46 pct
Generic drugmaker Mylan said it offered to buy Perrigo for about $29 billion in cash and stock in a move that would significantly beef up Mylan’s offerings of over-the-counter consumer products.
** ROYAL DUTCH SHELL PLC, $61.14, -6.60 pct
** BP PLC, $40.93, +1.69 pct
Royal Dutch Shell agreed to buy smaller rival BG Group for 47 billion pounds ($70.2 billion) in the first major energy industry merger in more than a decade, closing the gap on market leader U.S. ExxonMobil after a plunge in prices.
Shares of rival BP rose after the news.
** PENTAIR PLC, $61.6, -4.44 pct
The pump and filter maker estimated first-quarter revenue of $1.48 billion and a profit of 65 cents per share, lower than its forecast. The company said its revenue in the quarter ended March 28 was hurt by a stronger dollar and slower-than-expected oil and gas industry shipments.
** SINOPEC SHANGHAI PETROCHEMICAL CO LTD, $47.18, +12.98 pct
The Chinese petrochemical company said it expected to report a first-quarter profit, compared with a year-earlier loss. Sinopec said weak and volatile oil prices in the first quarter led to lower crude oil processing costs and a rise in gross profit margin for refined products.
** HOLLYSYS AUTOMATION TECHNOLOGIES LTD, $23.52, +11.89 pct
Morgan Stanley raised its rating on the railway automation equipment maker’s stock to “overweight” from “equal weight”. “We expect Hollysys’s rail business to outperform the market in 2016-17, although we remain cautious on China’s rolling stock industry during the period,” the brokerage said in a note.
** YANZHOU COAL MINING CO LTD, $11.83, +23.10 pct
The Chinese coal miner’s U.S.-listed shares rose when exchanges opened after Easter holidays. “There are really no fundamentals backing the price appreciation. It is more about sentiment,” Morningstar Inc analyst Zhao Hu said.
** TRIUMPH GROUP INC, $65.8, +9.68 pct
The aerospace components and systems maker said Jeffry Frisby had resigned as chief executive and would be replaced by founder Richard Ill.
** AIRMEDIA GROUP INC, $2.969, +44.83 pct
The digital advertising service provider’s shares rose for the second straight day after the company said it sold a 5 percent stake in unit AirMedia Group Co Ltd to Chinese LED display maker Shenzhen Liantronics Co Ltd for 150 million yuan ($24.2 million).
** ANGIE‘S LIST, $5.735, -5.52 pct
B. Riley & Co cut its rating on the consumer review website operator's stock to "neutral" from "buy", citing Buzzfeed article mentioning Google Inc's ambition to enter the home service market. (bzfd.it/1IJS5v8)
Angie’s could lose customers to merchants on Google, especially in ecommerce, which would hurt its membership growth, B. Riley analyst Sameet Sinha wrote in a note.
** DAVE & BUSTER‘S ENTERTAINMENT INC, $32.58, +6.33 pct
The dining and entertainment venue operator reported the second straight quarter of better-than-expected profit and sales as demand grew for its food, beverage and entertainment offerings. The company’s comparable sales grew 10.5 percent in the fourth quarter, driven by a 12.1 percent increase in walk-in sales. Analysts polled by research firm Consensus Metrix had expected comparable sales growth of 10.1 percent.
** ADVAXIS INC, $17.13, +11.31 pct
The cancer drug developer and Merck & Co Inc started enrolling patients in an early-stage study evaluating a combination therapy for prostate cancer. Advaxis inked a deal with Merck in August to evaluate the combination of its cancer immunotherapy, ADXS-PSA, with Merck’s Keytruda, an approved cancer drug.
** CELLULAR BIOMEDICINE GROUP, $26.978, +6.97 pct
The cell therapy developer called the second short-seller report “false and misleading selective information”. The company said it would host open house on April 17 for management presentations, questions-and-answers sessions, briefings and a tour of the facility.
** DYAX CORP, $29.83, +6.33 pct
The drug developer said it upsized its offering to 7.4 million shares from 7 million. The offering was priced at $27 per share, a 4 percent discount to the stock’s Tuesday close.
** SILICON MOTION TECHNOLOGY CORP, $29.98, +8.08 pct
The fabless chipmaker estimated first-quarter revenue and gross margin at the high end of its forecast range.
** ONEBEACON INSURANCE GROUP LTD, $16.01, +6.73 pct
The specialty insurer controlled by White Mountains Insurance Group Ltd is considering a sale, Bloomberg reported.
** LULULEMON ATHLETICA INC, $68.4, +3.00 pct
Sterne Agee raised its rating on the Canadian yogawear retailer’s stock to “buy” from “hold”. Analysts at Sterne Agee said they expected the company’s 2015 investments to pay off by early next year and new offerings for men and women to attract customers and drive sales and margins by the fourth quarter of 2015 or the first quarter of 2016.
** AMERICAN AIRLINES GROUP INC, $48.87, +2.90 pct
American Airlines and US Airways were given a single operating certificate from U.S. regulators, marking a milestone in their integration since the carriers merged in December 2013, parent American Airlines Group said.
** SECOND SIGHT MEDICAL PRODUCTS INC, $14.412, +14.20 pct
The eye implant maker said new prosthesis for eye to treat “nearly all forms of blindness” was successfully implanted in an animal study.
** MCEWEN MINING INC, $1.02, -3.77 pct
The Canada-based miner said armed robbers stole about 7,000 ounces of gold contained in some 900 kilograms of gold-bearing concentrate from its El Gallo 1 mine in Mexico. The company said its insurance policy was not sufficient to cover the entire amount of expected loss.
** ZEP INC, $20.13, +17.79 pct
The maker of maintenance and cleaning chemicals agreed to be taken private by New Mountain Capital for about $692 million, including debt.
** TESLA MOTORS INC, $207.95, +2.31 pct
The electric sports-car maker said it had started taking orders for new base version of Model S electric sedan. The Model S electric sedan costs $5,000 more than its predecessor, but offers better performance, longer range and more features, including all-wheel drive.
** LIONS GATE ENTERTAINMENT CORP, $31.44, -6.65 pct
The movie studio announced late on Tuesday a secondary offering of 10 million shares by investment funds affiliated with MHR Fund Management LLC.
** CAPITALA FINANCE CORP, $17.95, -4.98 pct
The business development company announced on Tuesday an offering of 3.5 million shares of common stock.
** REGULUS INC, $18, +12.85 pct
The drug developer said AstraZeneca Plc selected its experimental drug, RG-125, for early-stage trial on Non Alcoholic Steatohepatitis (NASH) patients, as part of a strategic alliance signed in 2012.
** INOVIO PHARMACEUTICALS INC, $9.8196, +8.15 pct
The vaccine developer said it would receive a grant from the U.S. Department of Defense to lead a team to develop multiple therapies for Ebola, which has killed at least 10,000 people so far. Inovio is the prime contractor on the $45 million program, with other collaborators including MedImmune, a unit of AstraZeneca Plc and GeneOne Life Sciences.
** EVERYWARE GLOBAL INC, $0.2125, +6.25 pct
The marketer of cookware and tabletop products filed for Chapter 11 bankruptcy protection late on Tuesday. The company listed assets of $100 million-$500 million and liabilities of $500 million-$1 billion in its petition in the Delaware bankruptcy court. (Compiled by Neha Dimri in Bengaluru; Editing by Kirti Pandey)