January 2, 2015 / 4:28 PM / 4 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Brainstorm, Perfect World, Harvest Natural

(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) U.S. stock indexes edged lower on Friday, erasing earlier gains as investors found few reasons to buy in the new year as crude oil prices continued to weaken and data came in below forecasts. The Dow Jones industrial average was down 0.11 percent at 17,804.14, the S&P 500 was down 0.29 percent at 2,052.86 and the Nasdaq Composite was down 0.62 percent at 4,706.698.


Data is expected on Monday on the mid-stage trial of the Israeli stem cell technology developer’s stem cell therapy technology, NurOwn, in patients with amytrophic lateral sclerosis.

** PERFECT WORLD CO LTD, $19.23, +22.02 pct

The Chinese game developer’s Founder and board Chairman Michael Yufeng Chi offered to take the company private for $20 per American depository share, or $4 per ordinary share, in cash.

** LINN ENERGY LLC, $11.15, +10.07 pct

** LINNCO LLC, $11.0396, +6.46 pct

Oil and gas producer Linn Energy cut its 2015 capital budget by 53 percent to $730 million, joining other oil and gas producers in reducing expenditure in response to falling oil prices.

Linn also said it had reduced its distribution per unit and the dividend per share for its subsidiary LinnCo to $1.25 each from $2.90 on an annualized basis.

** DENBURY RESOURCES INC, $7.7, -5.29 pct

** QUICKSILVER RESOURCES INC, $0.194, -2.12 pct

** NEWFIELD EXPLORATION CO, $26.66, -1.70 pct

** APPROACH RESOURCES INC, $6.3, -1.41 pct

Oil and gas producers’ shares fell after Brent crude reversed early gains and fell to a fresh post-2009 low of below $56 per barrel.

** ELI LILLY AND CO, $70.17, +1.71 pct

The drugmaker completed the acquisition of Novartis’s animal health unit. EU regulators had approved the $5.4 billion deal in October. The deal makes Lilly’s Elanco unit the global No. 2 in the sector by revenue, up from No. 4.

** GOPRO INC, $64.61, +2.20 pct

The wearable camera maker’s shares rose after a Raymond James’ survey of 600 smartphone owners said 4 percent of action camera owners own a GoPro camera and about 13 percent intended to own it in the future.

** QUEST DIAGNOSTICS INC, $68.23, +1.74 pct

A Raymond James analyst raised the laboratory test provider's stock to "market perform" from "underperform", according to Benzinga.com. (bit.ly/1xmqg9k)

** HARVEST NATURAL RESOURCES INC, $0.8988, -50.34 pct

The oil and gas producer terminated the agreement to sell its 20.4 percent stake in its Venezuelan unit Petrodelta SA, which is a joint venture with state-owned Petroleos de Venezuela SA, for $275 million.

** BALLARD POWER SYSTEMS INC, $1.86, -6.06 pct

The Canadian fuel-cell products maker said it would miss its 2014 revenue and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) forecast after it terminated two licensing deals. The company also said it would terminate two licensing agreements in China due to material breaches by Azure Hydrogen.

** SYNAPTICS INC, $63.31, -8.03 pct

Pacific Crest cut its rating on the touchscreen chip maker’s stock to ‘sector perform’ from ‘outperform’. “We believe increased competition in touch and challenges with matching algorithms in biometrics could result in downward bias to gross margins,” analysts wrote in a note. (Compiled by Manya Venkatesh in Bengaluru; Editing by Kirti Pandey)

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