(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 higher for the second day on Wednesday as investors sought out beaten down stocks after a massive selloff sparked by Britain's decision to leave the European Union last week. The Dow Jones Industrial Average was up 0.85 percent at 17,557.89, the S&P 500 was up 0.94 percent at 2,055.13 and the Nasdaq Composite was up 1.10 percent at 4,743.387.
** TESARO INC, $75, +101.56 pct
The cancer drug maker said its ovarian cancer drug met the main goal of prolonging survival in patients, without the disease worsening, in a late-stage trial.
** LIPOCINE INC, $3, -52.15 pct
The drugmaker said its oral testosterone replacement product did not get the approval in the United States.
** DIAMOND RESORTS INTERNATIONAL INC, $29.73, +23.51 pct
The hospitality and vacation ownership management company said it agreed to be bought by private equity firm Apollo Global Management LLC in a $2.2 billion deal.
** GALENA BIOPHARMA INC, $0.352, -82.66 pct
An independent data monitoring committee analyzing the company’s drug, NeuVax, recommended that a late-stage study be stopped as the drug was not effective enough.
** SHIRE PLC, $176.44, +3.18 pct
The Irish drugmaker said a study testing an experimental drug to treat attention-deficit disorder met the main goal, bringing the drug one step closer to approval in the United States.
** ECLIPSE RESOURCES CORP, $3.51, -14.60 pct
The oil and gas company offers 37.5 million shares at $3.50, a 14.8 percent discount to the stock’s last sale. The company said it intends to use the offering proceeds to purchase additional shares and fund a portion of its capex through 2017.
** PRIVATEBANCORP INC, $43.84, +22.02 pct
Canadian Imperial Bank of Commerce said it would buy Chicago-based PrivateBancorp in a cash-and-stock deal valued at about $3.8 billion to offer its Canadian clients access to U.S. banking services.
** ESPERION THERAPEUTICS INC, $10.26, -36.59 pct
At least three brokerages lowered their ratings on the drug developer. The company said it did not receive definitive answer from FDA about the need for completion of a cardiovascular outcomes study prior to approval of its experimental cholesterol drug.
** AUTOLIV INC, $105.14, -4.53 pct
The auto safety gear maker confirmed that Toyota is recalling 1.4 million Prius cars equipped with its airbag inflators.
** WILLIAMS COS INC, $20.57, -0.34 pct
** ENERGY TRANSFER EQUITY LP, $14.88, +3.26 pct
Energy Transfer Equity said on Wednesday that it has terminated its merger agreement with Williams after ETE’s counsel were unable to declare the deal as tax-free.
** MCDONALD‘S CORP, $119.62, +0.95 pct
South Korea’s CJ Group, a food-to-entertainment conglomerate, said on Wednesday it has submitted a letter of intent to buy the largest fast-food chain McDonald’s Corp’s South Korean unit, adding that details have not been decided.
** ELI LILLY & CO, $76.69, +2.05 pct
The drugmaker and Boehringer Ingelheim should be allowed to claim that their diabetes drug Jardiance cuts the risk of cardiovascular death, an advisory panel to the U.S. Food and Drug Administration concluded on Tuesday.
** MONSANTO CO, $103.42, +2.30 pct
The U.S. seeds company said it was in talks with Bayer AG’s management and others regarding “alternative strategic options,” a month after the U.S. seed producer rejected the German company’s $62 billion takeover offer. (Compiled by Arunima Banerjee in Bengaluru; Editing by Maju Samuel)