June 8, 2016 / 1:53 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-VeriFone, Gevo, Hydrogenics, Skullcandy

(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. stocks opened slightly higher on Wednesday as energy stocks continued to benefit from higher oil prices. The Dow Jones industrial average was up 0.41 percent at 18,010.97, the S&P 500 was up 0.31 percent at 2,118.6 and the Nasdaq Composite was up 0.24 percent at 4,973.472.

** VERIFONE SYSTEMS INC, $19.79, -29.90 pct

At least five brokers downgraded the credit card swipe machine maker’s stock after the company said it intends to reduce headcount and conduct a strategic review to address underperforming businesses. The company also posted a second-quarter profit below analysts’ expectations and reduced its full-year forecast.

** FLEXION THERAPEUTICS INC, $14.59, -9.32 pct

The specialty pharmaceutical company announced a follow-on offering of $60 million of common stock on Tuesday. Bookrunners Wells Fargo, Royal Bank of Canada and Bank of Montreal are marketing shares in the range of $13.75-$14.25, at a discount of 11.4-14.5 percent to the stock’s last sale.

** LENDINGCLUB CORP, $4.33, -1.37 pct

Ousted LendingClub CEO and co-founder Renaud Laplanche has been speaking to private equity firms and banks about financing a potential buyout of the online lender, according to people familiar with the matter.

** SKULLCANDY INC, $4.6068, +17.22 pct

Ptarmagin LLC, a firm associated with the audio product maker’s founder Rick Alden, disclosed a 12.7 percent stake in the company. Alden may look to take the company private according to a filing.

** POLYCOM INC, $12.19, +1.92 pct

The video conferencing equipment maker said it received a revised offer from a private equity firm - the third time the bidder has revised its offer since the video conferencing equipment maker agreed to be acquired by Canada’s Mitel Networks Corp.

** GEVO INC, $1.06, +75.70 pct

Alaska Airlines said 2 of its aircraft flew using the chemical and biofuel maker’s jet fuel made from sustainable U.S. corn. Alaska estimates 20 percent biofuel blend it is using for two flights will reduce greenhouse gas emissions by an estimated 50 percent.

** HYDROGENICS CORP, $8.31, +10.95 pct

The Canadian fuel-cell maker signed an agreement for $13.5 million with SinoHytec, a Beijing-based vehicle propulsion technology company, for delivery of fuel cells in China.

** TESLA MOTORS, $238.0218, +2.45 pct

The electric car maker is working exclusively with Panasonic Corp to supply batteries for the Model 3, its first mass-market car, the U.S. automaker’s chief executive said on Wednesday.

** OXFORD INDUSTRIES INC, $60.01, -7.86 pct

The apparel retailer reported lower-than-expected first-quarter sales and profit, hurt by lower demand for the Tommy Bahama brand, its biggest business. The company also cut its 2016 adjusted profit forecast.

** DAVE & BUSTER’S ENTERTAINMENT INC, $44.7212, +6.84 pct

The restaurant and arcade chain operator reported better-than-expected first-quarter same-store sales, helped by a 4 percent increase in walk-in sales. The company also raised full-year 2016 sales guidance, beating analyst estimates.

** AMAZON INC, $727.86, +0.57 pct

Chief Executive Jeff Bezos said on Tuesday the world’s No.1 ecommerce company would invest an additional $3 billion in India, boosting its committed investment in the country to over $5 billion. (Compiled by Sruthi Shankar in Bengaluru; Editing by Maju Samuel)

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