June 20, 2016 / 2:07 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Apple, Marathon Oil, JD.com, Yelp

(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 opened sharply higher on Monday, with the S&P and the Dow recovering last week's losses, after polls over the weekend showed an increased possibility of Britain remaining in the European Union. The Dow Jones industrial average was up 1.41 percent at 17,923.53, the S&P 500 was up 1.26 percent at 2,097.4 and the Nasdaq Composite was up 1.44 percent at 4,869.397.

** JPMORGAN CHASE & CO, $63.5, +1.96 pct

** BANK OF AMERICA CORP, $13.76, +2.69 pct

** WELLS FARGO & CO, $47.71, +2.38 pct

Banks in U.S. are likely to be primary focus for the day as global stocks rose sharply and sterling strengthened broadly while safe-havens including the yen and gold retreated, after polls showed support for Britain staying in the EU regaining momentum before Thursday’s referendum.

** CHESAPEAKE ENERGY CORP, $4.69, +3.99 pct

** FREEPORT MCMORAN INC, $11.78, +5.75 pct

** DENBURY RESOURCES INC, $4.41, +4.26 pct

** SOUTHWESTERN ENERGY CO, $13.54, +3.44 pct

Oil rallied, lifted by investor confidence and a weaker dollar as polls indicate diminishing chances of Britain exiting the EU.

** APPLE INC, $96.4, +1.12 pct

India announced sweeping reforms to rules on foreign direct investment, opening up its defence and civil aviation sectors to complete outside ownership and clearing the way for Apple to open stores in the country.

The iPhone maker’s shares had fallen about 2 percent on Friday on reports that the sales of iPhone 6 and 6 Plus were barred in China because their designs had infringed a patent held by a Chinese company.

** GLAXOSMITHKLINE PLC, $41.69, +3.37 pct

The drugmaker said its experimental combination therapy for a chronic lung problem met the main goal of a late-stage study, allowing the company to apply for marketing the drug by the end of this year.

** BP PLC, $33.63, +2.69 pct

The British oil major has approved investment in the first phase of developing the large Atoll gas field offshore Egypt, only 15 months after it announced its discovery.

** MARATHON OIL CORP, $14.12, +7.29 pct

The oil and natural gas producer said it agreed to buy PayRock Energy Holdings LLC for $888 million from venture capital firm EnCap Investments, boosting its presence in the Oklahoma basin.

** FATE THERAPEUTICS INC, $1.88, +11.90 pct

The drug developer said U.S. FDA granted fast-track designation for its immmunotherapy ProTmune for reduction of incidence and severity of acute graft-versus-host disease (GvHD).

** LPATH INC, $3.656, +75.77 pct

The drug developer picked up US Department of Defense (DOD) grant to study brain injuries.

** JD.COM INC, $21.19, +5.27 pct

Wal-Mart Stores Inc is in talks to sell its Chinese e-commerce business, Yihaodian, to JD.com, the Wall Street Journal reported, citing people familiar with the situation.

** CERUS CORP, $6.185, +8.51 pct

The medical device maker signed an agreement with Biomedical Advanced Research and Development Authority (BARDA) for potential funding of up to about $180 million to advance Cerus’s Intercept blood system.

** YELP INC, $28.53, +5.98 pct

Deutsche Bank upgraded Yelp to “buy” from “hold”, raised price target to $33 from $26 and said it expects the comp any to beat its own 2016 guidance, as well as Wall Street estimates.

** TOYOTA MOTOR CORP, $106.64, +3.29 pct

The car maker is targeting developing in the next five years driver assistance systems that integrate artificial intelligence (AI) to improve vehicle safety, the head of its advanced research division said.

** LENDINGCLUB CORP, $5.12, +5.13 pct

Chinese billionaire Tianqiao Chen raised his stake in online lending platform LendingClub to 15.13 percent from 11.7 percent, which was earlier reported on May 11.

** NOVARTIS AG, $79.43, +1.95 pct

The Swizz drugmaker pledged to nearly triple its number of biosimilar drugs on the market by 2020, raising its bet that cheaper versions of blockbuster cancer and immune system medicines will snatch billions in rivals’ profits.

** INOVIO PHARMACEUTICALS INC, $10.81, +3.25 pct

The drug developer and its partner GeneOne Life Sciences Inc said they had received approval from U.S. regulators to start an early stage human trial testing their Zika vaccine.

** HP INC, $13.27, +1.14 pct

Canadian business software maker Open Text Corp said it would buy HP’s customer management software business for $315 million.

** BOEING CO, $133.18, +2.59 pct

Iran has reached a deal to buy 100 planes from U.S. planemaker Boeing, and the two sides are awaiting approval by U.S. Treasury authorities, the head of Iran’s Civil Aviation Organisation said in remarks published by state media on Sunday.


Hedge fund Visium Asset Management, which has been embroiled in an insider trading case, told investors on Friday evening that it will close down its flagship fund and sell another portfolio to asset manager Alliance Bernstein.

** FEDEX CORP, $165.82, +2.20 pct

The U.S. Department of Justice on Friday dismissed all criminal charges against FedEx, according to a court filing, in a case where the company was accused of shipping packages from illegal online pharmacies despite repeated warnings. (Compiled by Anet Josline Pinto in Bengaluru; Edited by Don Sebastian)

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