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BUZZ-U.S. STOCKS ON THE MOVE-Chubb, Teladoc, CalAmp, Chambers Street

Wed, 01st Jul 2015 15:33

(For faster updates on individual market-movers, Eikon usersplease use search string "STXBZ US"; for the Day Aheadnewsletter, http://link.reuters.com/mex49s; for the Morning NewsCall newsletter, http://link.reuters.com/nex49s)U.S. stocks rose on Wednesday after Greece's prime ministersignaled he was prepared to accept most of creditors' bailoutterms and a raft of U.S. data pointed to a stronger economy. TheDow Jones industrial average was up 0.75 percent at17,752.46, the S&P 500 was up 0.72 percent at 2,077.89and the Nasdaq Composite was up 0.69 percent at5,021.201.

** CHUBB CORP, $123.44, +29.75 pct

** ACE LTD, $104.81, +3.08 pct

Swiss insurance giant ACE will buy upmarket property insurerChubb for $28.3 billion to get access to wealthy clients who payhigher premiums at a time when fierce competition has cut deeplyinto the industry's profit margins.

** BIOCEPT INC, $2.7201, +6.67 pct

The medical test maker launched a new blood test that couldidentify patients who would respond to breast and lung cancertreatments.

** TELADOC INC, $31.42, +65.37 pct

Shares of the company, which provides on-demand medicalconsultation via mobile, Internet video or telephone, rose morethan 60 percent in its debut.

** CALAMP CORP, $19.92, +9.09 pct

The wireless device maker reported a better-than-expectedquarterly profit, helped by higher sales from its wirelessdatacom business.

** CHAMBERS STREET PROPERTIES, $7.25, -8.81 pct

** GRAMERCY PROPERTY TRUST INC, $22.77, -2.57 pct

Chambers Street Properties said it would merge with GramercyProperty Trust to create the largest U.S. industrial and officenet lease real estate investment trust.

The offer of $25.36 per share represents a premium of 8.5percent to Gramercy's Tuesday close.

** COMSTOCK RESOURCES INC, $2.93, -12.01 pct

The company said it would sell its oil and gas properties inand around Burleson County in Texas for about $115 million to aprivate company. The company also cut its production forecastfor the year.

** NOVOGEN LTD, $4.61, +14.68 pct

H.C. Wainwright initiated coverage on the stock with a "buy"rating and target price of $8.50. With a cost-consciousmanagement and three clinic-ready, large market potentialproducts, Novogen is an attractive investment, the brokeragesaid.

** MBIA INC, $6.02, +0.17 pct

** AMBAC FINANCIAL GROUP INC, $16.81, +1.02 pct

** ASSURED GUARANTY, $24.86, +3.63 pct

Shares of banks and bond insurers with exposure to PuertoRico rose after falling in the past two sessions.

Puerto Rico's distressed power authority, PREPA, avoideddefault on Wednesday by making a $415 million bond payment.

** CONSTELLATION BRANDS INC, $117.42, +1.21 pct

The company reported a better-than-expected quarterlyprofit, helped by higher sales of its Corona and Modelo beers,and said it would buy the Meiomi wine brand for about $315million.

** TETRALOGIC PHARMACEUTICALS CORP, $2.91, +24.36pct

The drug developer said patients given its experimental drugbirinapant in combination with azacitidine showed completeresponse to treatment in mid-stage study.

** XENON PHARMACEUTICALS INC, $8.955, -22.33 pct

The drug developer said two strengths of its experimentalointment for pain did not significantly reduce pain in patientssuffering from osteoarthritis.

** BALLARD POWER SYSTEMS INC, $1.695, -18.90 pct

The Canadian fuel cell products maker announced anoffering of 8.1 million of its U.S.-listed shares at $1.60 pershare, a 23.5 percent discount to the stock's Tuesday close.

The offering size represents 6 percent of the company'soutstanding shares as of May 13, according to Thomson Reutersdata.

** PATTERSON COS INC, $49.695, +2.15 pct

The medical device supplier said it would sell its businessthat makes products that assist in a patient's recovery toprivate equity firm Madison Dearborn Partners for $715 million.

** VALLEY NATIONAL BANCORP, $10.48, +1.65 pct

JP Morgan raised its rating on the bank's stock to"neutral", according to Theflyonthewall.com.

** AXCELIS TECHNOLOGIES INC, $3.044, +2.84 pct

Benchmark Co started coverage of the company's stock with a"buy" rating. Analyst Mark Miller expects the company to post aprofit this year and the next after three straight years oflosses.

** MELCO CROWN ENTERTAINMENT, $20.6509, +5.20 pct

** LAS VEGAS SANDS, $53.91, +2.55 pct

** WYNN RESORTS LTD, $103.91, +5.31 pct

Casino stocks rose for a second straight day following abetter-than-expected showing for monthly gaming revenue inMacau.

Macau's gaming revenue dropped slightly less than the 39-40percent analysts had forecast though it still suffered its 12thstraight monthly decline.

** GREENBRIER CO INC, $45.08, -3.78 pct

The company's third-quarter profit missed estimates for thefirst time in five quarters. Quarterly sales growth also fellshort of market estimates, partly due to an abrupt decline inscrap metal prices.

** AMYRIS INC, $1.81, -7.18 pct

The renewable chemicals and fuels company said on Tuesday ithad reached a deal with Total SA. Total will own 75percent of the JV after the restructuring.

** MARTEN TRANSPORT LTD, $22.175, +2.19 pct

The trucking company will replace restaurant chain operatorCracker Barrel Old Country Store Inc in the S&PSmallCap 600 index after close of trading on July 1. CrackerBarrel will replace Dresser-Rand Group Inc in the S&PMidCap 400 index. Germany's Siemens AG has agreed tobuy U.S. oilfield equipment maker Dresser-Rand for $7.6 bln.

** BANCO SANTANDER SA, $7.09, +1.14 pct

The Spanish bank and British mobile bankingsoftware provider Monitise have formed a joint ventureto invest in financial technology businesses, they said onWednesday. (Compiled By Manya Venkatesh in Bengaluru; Editing by SimonJennings)

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