June 30, 2016 / 3:32 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Transition Therapeutics, Higher One, Kingtone

(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 drifted higher in late morning trading on Thursday as consumer staples stocks rose after reports that Oreo cookies maker Mondelez had made a bid to buy Hershey Co. The Dow Jones Industrial Average was up 0.70 percent at 17,818.5, the S&P 500 was up 0.69 percent at 2,085.04 and the Nasdaq Composite was up 0.74 percent at 4,814.427.

** HERSHEY CO, $112.99, +16.32 pct

** MONDELEZ INTERNATIONAL INC, $43.595, +1.45 pct

Mondelez, the maker of Oreo cookies and Cadbury chocolates, has made a takeover bid for Hershey, the Wall Street Journal reported.


** STARZ, $31.475, +11.42 pct

Lions Gate, the film studio behind the Hunger Games movie franchise, said it would buy premium television network Starz for $4.4 billion in cash and stock, in a deal that would unite two media companies with ties to cable mogul John Malone.

** CARE.COM, $11.74, +38.61 pct

Google Capital invested $46.35 million in the online marketplace operator. Alphabet’s Google Capital became Care.Com’s top shareholder and got a board seat with the investment.

** MOBILEYE NV, $47.11, +12.27 pct

** INTEL CORP, $32.38, +1.41 pct

BMW is close to unveiling a development partnership for autonomous cars with Israeli collision detection software maker Mobileye and U.S. chip maker Intel, a source familiar with the matter said on Thursday.

** DARDEN RESTAURANTS INC, $63.32, -4.00 pct

The company reported lower-than-expected quarterly sales as fewer customers visited its Olive Garden restaurants.

** CONAGRA FOODS INC, $47.44, -0.34 pct

The company’s quarterly net sales fell 9.5 percent, missing analysts’ estimates, as demand weakened for its consumer foods, which include Chef Boyardee pasta and Hunt’s ketchup.

** HARVEST NATURAL RESOURCES INC, $0.8296, +73.45 pct

The oil and gas producer plans to exit Venezuela by selling all its assets to private investment firm CT Energy Holding SRL.

** TRANSITION THERAPEUTICS INC, $1.4736, +110.51 pct

Opko Health Inc is to buy the Canadian drug developer, which is developing drug candidates for diabetes and obesity, among others, in an all-stock deal valued at about $60 million, or $1.55 per share.

** HIGHER ONE HOLDINGS INC, $5.1, +36.00 pct

The payment processing and refund disbursement services provider will be bought by education technology company Blackboard Inc’s affiliate for $5.15 per share.

** SHUTTERSTOCK INC, $46.22, +8.14 pct

The stock image provider is to replace Southwest Gas Corp on the S&P SmallCap 600 index.

** ALLY FINANCIAL INC, $16.54, +3.76 pct

The U.S. auto lender is to pay its first quarterly dividend of $0.08 per share, following the Fed’s approval of its 2016 capital plan.

** CEMTREX INC, $3.742, +7.84 pct

The custom-designed cables and connectors maker said it received $12 million in new orders over the past month, its strongest monthly bookings in history.


The drugmaker announced a public offering of $400 million convertible senior notes due 2023.


The wireless device software maker slashed its FY 2016 revenue forecast to $2-$4 million from $7-$10 million, hurt by strong competition in the wireless system solution business.

** ANHEUSER-BUSCH INBEV SA, $130.53, +3.35 pct

South Africa’s Competition Tribunal granted conditional approval for the proposed merger of about $100 billion by brewer Anheuser-Busch Inbev and SABMiller, the anti-trust authority said on Thursday.


Morgan Stanley cut the bank’s rating to “equalweight”, price target to 210p from 290p. MS analysts cut 2018 EPS forecasts for UK domestic banks by 12-27 percent, given weaker UK GDP and lower-for-longer rates.

** TRACTOR SUPPLY CO, $91.83, -3.51 pct

The farm supplies and animal care products company reduced its revenue and earnings forecast, saying lower-than-average spring temperatures clipped its sales in April and May.

** BRIXMOR PROPERTY GROUP INC, $26.3, -2.34 pct

The shopping center owner and operator priced a secondary offering of 20 million shares of common stock by certain selling stockholders at $26.15 per share, a discount of 2.9 percent to Wednesday’s close.

** INTEROIL CORP, $44.98, +6.94 pct

The oil and gas producer, which agreed last month to be acquired by Australia’s Oil Search Ltd, said it had received an unsolicited offer from an unnamed bidder.

** STONE ENERGY CORP, $10.69, +8.86 pct

The oil and gas company entered into an interim gas gathering and processing agreement with Williams Cos Inc , allowing Stone Energy to resume production at the Mary field in Appalachia.

** TESARO INC, $83.71, +8.15 pct

The cancer drug maker launched a public follow-on offering. It is set to price the offering after market close on Thursday. The company is offering $300 million of common stock with a $45 million overallotment option.

** CONSTELLATION BRANDS INC, $163.49, +2.57 pct

The alcoholic beverage maker reported a bigger-than-expected 15 percent jump in quarterly net sales, helped by higher demand for its Corona and Modelo beers during the Memorial Day weekend.

** PIER 1 IMPORTS INC, $4.96, -8.82 pct

The home decor and furniture importer posted lower-than-expected first-quarter revenue and same-store sales on weak demand for its outdoor furniture. (Compiled by Arunima Banerjee in Bengaluru; Editing by Maju Samuel)

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