April 14, 2015 / 5:54 PM / in 3 years

BUZZ-U.S. STOCKS ON THE MOVE-Avon, energy stocks, SteadyMed

(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) The Dow and S&P 500 moved higher on Tuesday, helped by energy stocks and March-quarter earnings reports that topped modest expectations but did little to reduce concerns about the strong dollar. The Dow Jones industrial average was up 0.31 percent at 18,033.12 and the S&P 500 was up 0.09 percent at 2,094.39.

** JPMORGAN CHASE & CO, $63.26, +1.92 pct

JPMorgan, the biggest U.S. bank by assets, reported a 12.2 percent rise in quarterly profit as revenue from fixed-income trading rebounded.

For a graphic: here

** NOKIA OYJ, $7.91, -4.70 pct

** ALCATEL-LUCENT SA, $4.91, +12.87 pct

Nokia is in talks to buy smaller telecom equipment maker Alcatel-Lucent, a deal that would combine the industry’s two weakest players but could pose challenges in cutting costs and overcoming political opposition.

** AVON PRODUCTS INC, $9.12, +13.86 pct

The direct seller of cosmetics is exploring strategic alternatives, which could include a sale of its North America business, the Wall Street Journal reported on Tuesday.

** 58.COM INC, $65.07, +28.02 pct

The Chinese online classified provider agreed to merge with smaller rival Ganji.com, the Financial Times reported.

** DOVER SADDLERY INC, $8.373, +67.46 pct

The company agreed to be taken private by private equity firm Webster Capital for $8.50 per share in cash.

** VAALCO ENERGY INC, $2.51, +14.09 pct

The oil and gas production started production at its oil well off Gabon in West Africa at about 2,000 barrels per day.

** STEADYMED LTD, $10.3653, +19.83 pct

RBC, JMP Securities and Wells Fargo start coverage on the drug developer’s stock with their top rating.

** BUILDERS FIRSTSOURCE INC, $13.52, +16.85 pct

Stifel Nicolaus & Co raised rating on the building products supplier’s stock to “buy” from “hold” after the company announced the acquisition of building products distributor ProBuild on Monday.

** ECLIPSE RESOURCES CORP, $6.18, +9.57 pct

The oil and gas producer cut its 2015 capital budget to $352 million from $640 million.

** CHEVRON CORP, $108.8, +2.16 pct

** EXXON MOBIL CORP, $86.95, +1.89 pct

** ENSCO PLC, $25.27, +7.03 pct


** TRANSOCEAN LTD, $17.22, +5.26 pct

** RANGE RESOURCES CORP, $57.73, +4.79 pct

U.S. May crude was up $1.40 at $53.31, surging above its 100-day moving average of $52.96. Prices rose on signs of falling U.S. shale production, weak dollar and tensions in the Middle East, particularly Yemen.

** WYNN RESORTS, $127.38, -4.66 pct

** LAS VEGAS SANDS, $55.75, -3.96 pct

Macau casino operators, which were swept up in the strong rally seen in Hong Kong stocks over the past 5 days, saw all their recent gains wiped off as markets took a breather.

** CHINA CERAMICS CO LTD, $1.49, +13.74 pct

The Chinese ceramic tile maker reported a rise in fourth-quarter revenue and profit, driven by higher average selling prices and sales volume.

** PARTNERRE LTD, $129.71, +8.87 pct

Italian holding company Exor, which controls carmaker Fiat Chrysler Automobiles, has proposed to buy U.S. global reinsurer PartnerRe in a $6.4 billion all cash deal.

** CLIFFS NATURAL RESOURCES INC, $5.31, +11.79 pct

** VALE SA, $6.255, +6.56 pct

** RIO TINTO LTD, $42.91, +4.76 pct

** BHP BILLITON PLC, $45.73, +4.17 pct

Prices of iron ore for immediate delivery to China .IO62-CNI=SI rose as much as 2.6 pct to $50.10 per ton by 10:50 a.m. ET. Also, China’s iron ore futures jumped more than 4 pct, stretching sharp gains from the previous session as some Chinese steel mills resumed production.

** PERSEON CORP, $0.398, +14.11 pct

The medical device maker said the U.S. FDA approved the use of a device in ablation procedures requiring partial or complete ablation of liver tumors that cannot be removed.


The drugmaker said it expects to present positive data from a mid-stage study of its treatment for amyotrophic lateral sclerosis, a neurological disease that weakens muscles and impacts physical function.

** GW PHARMACEUTICALS PLC, $109.2, +13.54 pct

The drugmaker’s childhood epilepsy drug, epidiolex, currently in use through an expanded access program, showed marked improvement in median reduction of seizure frequency, data compiled by American Society Of Neurology shows.

** AETERNA ZENTARIS INC, $0.5901, +9.58 pct

Analysts at HC Wainwright raise rating on the drug developer’s stock to “buy” from “neutral” after the company says it plans to conduct a confirmatory study on hormone deficiency drug-test after meeting with the U.S. Food and Drug Administration.

** ARROWHEAD RESEARCH CORP, $7.45, -6.88 pct

Jefferies started coverage of the drug developer’s stock with a “hold” rating after the U.S. FDA allowed the company to begin multiple-dose mid-stage study on its hepatitis B drug, ARC-520.


Imperial Capital raises rating on the energy-focused construction company’s stock to “outperform” from “in-line”.

** NORFOLK SOUTHERN CORP, $99.52, -5.10 pct

At least four brokerages cut their price targets on the U.S. railroad company by as much as $10 to as low as $105. Norfolk said on Monday that it expected first-quarter EPS to fall 15 percent and revenue to drop 5 percent due to reduced fuel surcharge revenue and lower coal volumes.

** SANMINA CORP, $23.41, -5.53 pct

Analysts at Longbow Research downgraded the electronics manufacturing services provider to “underperform” from “neutral”, according to Benzinga.com.

** PEP BOYS-MANNY, MOE & JACK, $9.05, -5.73 pct

The automotive aftermarket service and retail chain reported wider net loss of $26.7 million in the fourth quarter, compared with $3.3 million a year earlier, mainly due to charges.

** J C PENNEY CO INC, $9.13, -2.87 pct

The department store chain said a senior executive inadvertently disclosed information on its same-store sales in the first quarter so far to an analyst.

** SOLAZYME INC, $3.93, +22.43 pct

** FLOTEK INDUSTRIES INC, $17.72, +3.08 pct

Solazyme has entered into an agreement with Flotek to jointly develop and market Flocapso, an advanced drilling fluid additive.


RBC Capital Markets started coverage with an “outperform” rating and target price of $41. RBC sees strong upside for the stock, citing potential of the company’s lead experimental drug to treat schizophrenia.

** SUPERCOM LTD, $10.75, +9.36 pct

B. Riley & Co started coverage on the Israeli digital identification products maker’s stock with a “buy” rating. (Compiled by Anannya Pramanick in Bengaluru; Edited by Maju Samuel)

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