June 15, 2016 / 3:47 PM / in 2 years

BUZZ-U.S. STOCKS ON THE MOVE-Patriot National, Scorpio Bulkers, Twitter

(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) Wall Street was higher for the first time in five days on Wednesday as lower chances of an interest rate hike offered solace to investors amid jitters of Britain's possible exit from the European Union. Dow Jones industrial average futures were up 0.25 percent at 17,706, S&P 500 futures were up 0.23 percent at 2,079.25 and Nasdaq 100 futures were up 0.01 percent at 4,425.75.

** PATRIOT NATIONAL INC, $9.04, +30.64 pct

** EBIX INC, $48.2, +1.01 pct

Software maker Ebix offered to buy the insurance outsourcing company for $9.50 per share.

** STONE ENERGY CORP, $5.84, +12.09 pct

The oil and gas producer said it had increased borrowing base to $360 mln from $300 mln and that it had repaid $56.8 mln.

** SCORPIO BULKERS INC, $3.03, -6.19 pct

The dry bulk shipper offers 20 mln shares (40 pct of total outstanding) at $3.05, a 5.6 pct discount to stock’s last sale.

** UNITED STATES STEEL CORP, $17.81, +9.00 pct

Bank of America Merrill Lynch upgrades rating to “neutral” from “underperform”, raises PT to $18 from $10, Benzinga.com reports.

** CELLECTAR BIOSCIENCES INC, $3.77, +14.24 pct

The company said study results showed its experimental drug, CLR 1602, may be up to 30 times more tumor-selective in comparison to a commonly used chemotherapy called paclitaxel

** EXACT SCIENCES CORP, $9.87, +5.11 pct

Brokerage Canaccord Genuity raises price target to $12 from $9.


** QLT INC, $1.5, +4.90 pct

Aegerion Pharma agreed to merge with QLT Inc’s indirect unit. Each Aegerion share to be exchanged for 1.0256 shares of QLT, which will change its name to Novelion Therapeutics Inc and trade on the Nasdaq and Toronto stock exchanges.

** KEY ENERGY SERVICES INC, $0.214, -27.04 pct

The oil and gas company’s noteholders proposed potential restructuring timeline, including the exchange of all outstanding notes for 100 percent equity of reorganized company, among other things.

** AURINIA PHARMACEUTICALS Inc, $2.5901, -10.69 pct

The company said it intends to complete a private placement of its units at $2.36 per share.

** SPARK THERAPEUTICS INC, $46.42, -0.77 pct

The Gene therapy company announced public offering of 3.5 million shares priced at $45 per share.

** WHOLE FOODS MARKET INC, $31.025, -4.60 pct

U.S. food safety regulators have warned the company that inspections at the grocer’s Everett, Massachusetts plant turned up violations that could result in food being “contaminated with filth or rendered injurious to health.”

** CISCO SYSTEMS INC, $28.675, -0.98 pct

Brokerage Goldman Sachs removed the company from America’s buy list; also cuts price target on the stock to $32 from $35.

** TWITTER INC, $16.278, +5.98 pct

The microblogging site has invested about $70 million in Berlin-based music service SoundCloud, technology website Re/code reported citing people familiar with the deal.

** BANK OF AMERICA CORP, $13.55, +2.19 pct

The bank is set to cut about 8000 jobs in its consumer arm, according to Financial Times.

** APPLE INC, $98.1185, +0.68 pct

The company eyes music production in a bid to spur wider use of paid services amid slowing hardware sales - Nikkei. (Compiled by Rishika Sadam in Bengaluru; Edited by Don Sebastian)

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