January 20, 2017 / 4:48 PM / a year ago

BUZZ-U.S. STOCKS ON THE MOVE-Merck & Co, P&G, Emerge Energy

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U.S. stocks rose amid gains across sectors on Friday as Donald Trump gets set to become the 45th president of the United States.

The Dow Jones Industrial Average was up 0.51 percent at 19,833.28, the S&P 500 was up 0.43 percent at 2,273.52 and the Nasdaq Composite was up 0.38 percent at 5,561.382.

** BRISTOL-MYERS SQUIBB CO, $49.98, -9.93 pct

** ASTRAZENECA PLC, $27.11, -2.87 pct

** MERCK & CO INC, $62.60, +3.75 pct

Bristol-Myers Squibb on Thursday said it had decided not to seek accelerated U.S. approval for a combination of its two immunotherapy drugs as an initial treatment for lung cancer. The news also hit rival AstraZeneca, which like Bristol-Myers also has CTLA4 combination in development.

Rival Merck last week said U.S. regulators had agreed to an accelerated review of its application to combine immune system-boosting drug Keytruda with chemotherapy as an initial therapy for advanced lung cancer.

** PROCTER & GAMBLE CO, $87.90, +3.78 pct

The maker of Tide detergent and Pampers diapers reported better-than-expected quarterly sales and profit and raised its fiscal 2017 forecast for organic sales growth.


The company forecast full-year earnings above street estimates due to growth in areas such as cloud-based services and analytics.

** SKYWORKS SOLUTIONS INC, $87.69, +11.76 pct

The wireless chipmaker’s first-quarter revenue of $914.3 million topped average analysts’ estimate of $902.7 million.

** GENERAL ELECTRIC CO, $30.63, -1.86 pct

The maker of power plants, aircraft engines, locomotives and other industrial equipment said its total revenue fell 2.4 percent to $33.1 billion.

** AFFIMED NV, $1.70, -20.93 pct

The Germany-based clinical-stage biopharma company’s proposed public offering is expected to be priced at a hefty discount.

** PLURISTEM THERAPEUTICS INC, $1.07, -23.57 pct

The Israeli biotech raised the size of a previously announced bought-deal offering of common stock and warrants to $15 million, citing increased demand.


Brokerage H.C. Wainwright began coverage of the medical device maker’s stock with a “buy” rating and a $5 price target.

** RIGHTSIDE GROUP LTD, $9.32, +14.50 pct

** TUCOWS INC, $42.95, +18.16 pct

The domain name services provider’s wholesale domain name registrar ‘eNom’ will be bought by Tucows for $83.5 million.

** STEMLINE THERAPEUTICS INC, $10.58, -3.86 pct

The drug developer offered 4.5 million shares at $10, a 9.1 percent discount to stock’s last sale. The company intends to use proceeds to fund development of its three clinical-stage cancer drug candidates.

** EMERGE ENERGY SERVICES LP, $15.97, +8.79 pct

Goldman Sachs upgrades the oilfield services provider’s stock to “buy” from “neutral”, calling the company the “next rung down sand company”.

** ABRAXAS PETROLEUM CORP, $2.57, -4.46 pct

The oil and gas producer priced an upsized underwritten public offering of 25 million shares of its common stock at $2.40 per share, a 10.8 percent discount to stock’s Thursday close.

Compiled by Akankshita Mukhopadhyay in Bengaluru

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