(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 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 1.08 percent at 17,866.2, the S&P 500 was up 0.97 percent at 2,091.36 and the Nasdaq Composite was up 1.28 percent at 4,861.693.
** JPMORGAN CHASE & CO, $62.57, +0.47 pct
** BANK OF AMERICA CORP, $13.53, +0.97 pct
** WELLS FARGO & CO, $47.12, +1.12 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, $4.64, +2.88 pct
** FREEPORT MCMORAN INC, $11.675, +4.80 pct
** DENBURY RESOURCES INC, $4.48, +5.91 pct
** SOUTHWESTERN ENERGY CO, $13.8, +5.42 pct
Oil rallied, lifted by investor confidence and a weaker dollar as polls indicate diminishing chances of Britain exiting the EU.
** NEWMONT MINING CORP, $35.27, -1.07 pct
** BARRICK GOLD CORP, $19.7, -2.04 pct
** GOLDCORP INC, $17.67, -1.17 pct
Gold miner’s shares dropped as gold fell after polls showed the campaign for Britain to remain in EU regained some momentum, sharpening appetite for assets seen as higher risk and sparking a sharp rally in stocks.
** CREDIT ACCEPTANCE CORP, $179.55, +7.20 pct
Brokerage Janney upgraded the company’s stock to “neutral” from “sell”.
** EAGLE PHARMACEUTICALS INC, $39.669, -11.39 pct
Mizuho cut rating on the drug developer to “neutral” from “buy”, price target to $47 from $66, saying although company’s blood cancer drug Bendeka is genuine success story, it is expected to face challenges with its other drugs such as Ryanodex for malignant hyperthermia and chemotherapy agent Docetaxel.
** APPLE INC, $95.924, +0.62 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.
** BROOKFIELD BUSINESS PARTNERS LP, $22.55, -22.99 pct
U.S.-listed shares of the private equity arm of Brookfield Asset Management Inc traded down in its market debut.
** GLOBAL BLOOD THERAPEUTICS, $19.45, +9.09 pct
The blood cancer biotech offered $100 million worth of common stock.
** GLAXOSMITHKLINE PLC, $41.52, +2.95 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, $33.575, +2.52 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.
** EXPEDIA INC, $108.36, +4.05 pct
Atlantic Equities raised the world’s largest online travel services company’s shares to “overweight”; citing growth at company’s non-core OTA assets, HomeAway, Orbitz and trivago.
** MARATHON OIL CORP, $14.515, +10.30 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.
** LPATH INC, $3.4386, +65.32 pct
The drug developer picked up US Department of Defense (DOD) grant to study brain injuries.
** FATE THERAPEUTICS INC, $2.3, +36.90 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).
** NEOVASC INC, $0.9212, +20.43 pct
The medical device maker’s device to treat refractory angina showed benefits in patients enrolled in a small trial.
** GOLAR LNG LTD, $16.8272, +6.03 pct
The natural gas shipping company said private equity firm Stonepeak Infrastructure Partners will take 50 pct stake in Golar Power to form a joint venture.
** CERUS CORP, $6.18, +8.42 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.
** FEDERAL-MOGUL HOLDINGS CORP, $8.56, +4.97 pct
** Icahn Enterprises LP, $53.98, +0.47 pct
Icahn Enterprises raised offer to buy the 18 percent of Federal-Mogul it doesn’t own to $8 per share from $7, valuing the company at $1.35 billion.
** JD.COM INC, $21.44, +6.51 pct
Wal-Mart Stores Inc said it would sell its Chinese e-commerce business, Yihaodian, to China’s JD.com.
** YELP INC, $28.6, +6.24 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.
** SYMANTEC CORP, $20.58, +3.05 pct
UBS raised rating on the Norton antivirus software maker by two notches to “buy” from “sell” and said the Blue Coat acquisition is expected to boost revenue growth and add to profit in the near term.
** MURPHY OIL CORP, $31.09, +5.96 pct
Raymond James upgraded the oil and gas producer’s stock to “market perform” from “underperform”, saying the company has one of the highest correlations with oil among mid/large-cap E&Ps.
** SPIRIT AIRLINES INC, $44.06, +3.72 pct
Credit Suisse upgraded stock to “outperform”, hiked target to $55 from $44, and said upgrade is based on company’s more favorable second half revenue trends, new chief executive’s fine-tuned strategy driving improved sentiment and domestic leisure focus positions Spirit Airlines better than peers.
** TOYOTA MOTOR CORP, $106.17, +2.84 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.
** QUEST DIAGNOSTICS INC, $77.96, +2.94 pct
** LABORATORY CORP OF AMERICA HOLDINGS, $127.98, +1.81 pct
Late on Friday, Centers for Medicare & Medicaid Services released final rule related to Medicare payments; “the final rule contains a number of positive adjustments for the diagnostics industry relative to CMS’ proposed rule back in September,” Barclays analysts say in research note.
** INOVIO PHARMACEUTICALS INC, $11.1326, +6.33 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.
** LENDINGCLUB CORP, $5.035, +3.39 pct
Chinese billionaire Tianqiao Chen has raised his stake in online lending platform Lending Club following the recent ouster of founder and Chief Executive Renaud Laplanche.
** UNDER ARMOUR INC, $38.05, +2.23 pct
Buckingham Research upgraded rating on the sports apparel and shoe maker to “buy” from “neutral”, according to StreetInsider.com.
** CELGENE CORP, $99.77, +1.04 pct
The cancer drug maker’s stock looks underpriced, Barron’s says, calling the company more than a one-drug wonder.
** BOEING CO, $133.42, +2.77 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.
** CYPRESS SEMICONDUCTOR CORP, $10.14, -4.52 pct
The chipmaker offered $250 million convertible senior notes due 2022 in private placement.
** FEDEX CORP, $165.21, +1.82 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)