September 8, 2015 / 2:38 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Teco, JinkoSolar, Meredith, Wayfair

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter,; for the Morning News Call newsletter, U.S. stocks opened sharply higher on Tuesday after weak economic data out of China bolstered hopes of more stimulus measures from the Chinese government. The Dow Jones industrial average was up 1.71 percent at 16,377.8, the S&P 500 was up 1.64 percent at 1,952.77.

** TECO ENERGY INC, $26.04, +23.59 pct

Canadian energy company Emera Inc will acquire U.S. electric and gas utility holding company Teco Energy for $6.44 billion to expand in the United States.

** MEDIA GENERAL INC, $11.23, +0.72 pct

** MEREDITH CORP, $50.22, +9.32 pct

Media General said it would buy diversified media company Meredith for about $2.34 billion to create the third-largest local TV station owner in the United States.

** WAYFAIR INC, $38.09, +8.18 pct

BofA Merrill upgrades stock to “Buy” from “Neutral”. Broker says recent short reports overlook several important factors and selloff in online furnishing retailer’s shares creates an attractive entry point.

** FITBIT INC, $34.631, +8.63 pct

Morgan Stanley raises Wearable device maker’s rating to “overweight” and PT to $58 from $43.


Invivo Therapeutics announced enrollment of the fifth patient in a study and intentions to request expanding the number of patients beyond five to compress clinical timelines.

** INFINERA CORP, $20.54, -4.06 pct

Goldman Sachs downgrades stock to “sell” and cuts PT to $19 from $24.

** JINKOSOLAR HOLDING CO LTD, $21.73, +10.64 pct

The Chinese solar company to supply 579 megawatt solar modules to Brazil, reports pv magazine.

** IMMUNOMEDICS INC, $2.33, +8.37 pct

The drug developer says its experimental drug, sacituzumab govitecan, continues to produce durable responses in certain patients with metastatic lung cancer in a mid-stage study.

** NANOSPHERE INC, $3.1105, +15.20 pct

The molecular diagnostics company says the U.S. FDA cleared its test for respiratory pathogens. The test identifies about 16 viral and bacterial infections.

** FACEBOOK INC, $89.77, +1.71 pct

** GOOGLE INC, $636.185, +1.15 pct

** TWITTER INC, $27.47, -2.42 pct

MoffettNathonson projects online advertising revenue to represent 92 percent of ad dollar growth between 2016 and 2020.

** TOWER SEMICONDUCTOR LTD, $13.42, +7.10 pct

Israeli chipmaker says has received orders from a customer to make more chips. Tower Semiconductor did not identify the customer, but says it would receive $30 million in advance payment for expanding capacity in its worldwide fabs.

** CAPNIA INC, $2.828, +40.00 pct

The medical diagnostics company says it had acquired all assets from privately held NeoForce Group Inc, a developer of healthcare products for infants, for an upfront fee of $1 million.

** JD.COM INC, $25.02, +9.69 pct

The Chinese e-commerce firm announces repurchase of up to $1 billion worth of its American depositary shares over the next two years.

** YINGLI GREEN ENERGY HOLDING CO LTD, $0.5948, -18.18 pct

The Chinese solar panel maker reports a much bigger-than-expected Q2 loss due to an 18 percent fall in shipments and lower prices.

** APPLE INC, $112.135, +2.62 pct

Apple has ramped up its hiring of artificial intelligence experts, recruiting from PhD programs, posting dozens of job listings and greatly increasing the size of its AI staff, a review of hiring sites suggests and numerous sources confirm.

** ALIBABA GROUP HOLDING LTD, $66.19, +3.57 pct

German retailer Metro AG will use Alibaba’s Tmall Global platform to offer a range of German products online to Chinese consumers, branching out from operating wholesale stores in China into e-commerce.


Canada’s Concordia said it would buy Amdipharm Mercury Ltd from private equity firm Cinven for $1.9 billion to expand its portfolio of drugs aimed at treating rare diseases.

** BRISTOL-MYERS SQUIBB CO, $57.33, +0.05 pct

An early-stage study shows Bristol-Myers’ Opdivo treatment can be safely and effectively paired with relatively low and infrequent dosages of the company’s other immunotherapy, Yervoy, for patients with previously untreated lung cancer, researchers said on Monday.

** ** MERCK & CO INC, $52.57, +1.90 pct

Britain’s healthcare cost-effectiveness watchdog NICE on Monday recommended use of Merck’s immunotherapy drug Keytruda, after the U.S. drugmaker promised to supply it to the state health service at a discounted price.

** WALT DISNEY CO, $103.07, +2.08 pct

Walt Disney’s studio unit said customers of Inc and Microsoft Corp’s video services will get access to the collection on its cloud-based movie storage service from Tuesday.

** PROCTER & GAMBLE CO, $70, +1.80 pct

Brokerage SunTrust Robinson upgrades the world’s largest consumer products maker’s stock to “buy” from “neutral”.

** VERIZON COMMUNICATIONS INC, $45.43, +1.36 pct

Verizon will launch a trial version of its new mobile video service on Tuesday, aiming to prove that telecom players can compete with mobile ad industry titans Google Inc and Facebook Inc.

** AMAZON.COM INC, $513.81, +2.97 pct

The online retailer plans to release a $50 tablet in time for the holiday season, the Wall Street Journal reported, citing people familiar with the matter.

** PENTAIR PLC, $53.87, +1.28 pct

The pump and valve maker said it would appoint Ed Garden, founding partner of hedge fund Trian Fund Management LP, to its board.

** FIREEYE INC, $37.82, +3.67 pct

The cybersecurity software maker names Michael Berry as CFO. Berry was most recently CFO of enterprise data software provider Informatica Corp.

** GENERAL MOTORS CO, $29.68, +2.77 pct

Fiat Chrysler Automobiles NV CEO Sergio Marchionne said on Sunday that seeking tie-up with General Motors was “high priority” and such a deal would also be best strategic option for its U.S. rival. (Compiled by Subrat Patnaik in Bengaluru; Editing by Maju Samuel)

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