October 5, 2016 / 5:42 PM / 2 years ago

REFILE-BUZZ-U.S. STOCKS ON THE MOVE-Twitter, Salesforce.com, Endurance Specialty

(Corrects to remove extraneous punctuation in the headline) Wall Street rose after two days of losses on Wednesday after strong economic data boosted financial stocks and a surge in oil prices helped the energy sector.

The Dow Jones Industrial Average was up 0.61 percent at 18,279.18, the S&P 500 was up 0.49 percent at 2,160.97 and the Nasdaq Composite was up 0.67 percent at 5.325.28.

** TWITTER INC, $24.9, +5.87 pct

The microblogging service provider is expected to field bids this week, the Wall Street Journal reported, citing sources.

** SALESFORCE.COM INC, $67.53, -7.02 pct

Brokerage Mizuho Securities expressed its concern about the cloud-based software maker’s quest to buy Twitter, saying any deal could destroy about $12 billion-$17 billion of value, which could take 2-3 years to recapture if all goes well.


Japanese insurer Sompo Holdings Inc said it would buy the U.S. casualty insurer for $6.3 billion.

** CONSTELLATION BRANDS INC, $168.82, +1.79 pct

The alcoholic beverage maker reported better-than-expected jump in quarterly sales, driven by robust demand for its beers such as Corona and Modelo, and the company raised its full-year profit forecast.

** ORGANOVO HOLDINGS INC, $3.9841, +5.40 pct

The company said it plans to develop a 3D bioprinted human liver tissue for direct transplantation to patients.

** ASCENA RETAIL GROUP INC, $5.965, +6.52 pct

The women’s apparel retailer said it would restructure its business into four operating units and expects to save $100 million-$150 million of cost savings by fiscal 2019 through the new plan.

** JONES ENERGY INC, $4.28, +9.74 pct

Brokerage Stifel upgraded the oil and gas producer’s stock to “buy” from “hold”, citing the company’s increased exposure to the Anadarko basin.

** IMMUNOMEDICS INC, $2.44, -25.61 pct

The drug developer priced an offering of 10 million shares, each with an accompanying warrant, at $3.00 - an 8 percent discount to Tuesday’s close.

** RESOLUTE ENERGY CORP, $29.86, +16.28 pct

The oil producer agreed to buy Delaware Basin properties in Reeves County, Texas for $135 million and also raised its 2016 production estimate to 13,600-14,000 boepd from 11,600-13,400, before accounting for the acquisition.

** ACACIA COMMUNICATIONS INC, $114.45, +12.21 pct

The optical networking company raised its third-quarter preliminary revenue estimate for the second time in nine days.

** ENERPLUS CORP, $7.45, +8.13 pct

The Canadian energy producer has put its natural gas assets in the U.S. Marcellus shale region up for sale, which could fetch about $500 million, according to sources familiar with the situation.

** CATALYST PHARMACEUTICALS INC, $1.4407, +28.63 pct

Brokerage Piper Jaffray upgraded the drug developer’s stock to “overweight” from “neutral” and raised its price target, citing improved visibility for submitting a marketing application for its lead drug, Firdapse.


Brokerages Cantor Fitzgerald and Suntrust began coverage of the drug developer’s stock with a “buy” rating.

** CHESAPEAKE ENERGY, $6.87, +7.85 pct

** TRANSOCEAN LTD, $10.085, +5.93 pct

** NATIONAL OILWELL VARCO INC, $37.07, +3.90 pct

** MARATHON OIL CORP, $16.28, +4.16 pct

** DEVON ENERGY CORP, $44.12, +1.94

** HALLIBURTON COMPANY, $45.81, +2.74 pct

Oil prices hit their highest since June after the U.S. government reported another surprise weekly drawdown in crude inventories.

** AZZ INC, $58.2, -10.61 pct

The specialty electrical equipment maker reported a “disappointing” second quarter as bookings fell 17.1 percent.

** ANAVEX LIFE SCIENCES CORP, $3.79, +3.27 pct

The drug developer announced a collaboration with Ariana Pharma to accelerate timelines and improve efficiency of Alzheimer’s and Parkinson’s clinical development programs.

** ACUITY BRANDS INC, $247.77, -2.84 pct

The lighting solutions provider’s fourth-quarter results missed analysts’ estimates.

** KBR INC, $15.5, +9.93 pct

Deutsche Bank upgraded the oil services company’s stock to “buy” from “hold”, citing better cost savings, share gains in government services and an improving product mix. (Compiled by Nikhil Subba in Bangalore; Editing by Anil D’Silva)

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