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Sept 3 (Reuters) - Some U.S. stocks on the move on Tuesday:
WALL ST OPENS HIGHER AFTER SYRIA ACTION DELAY
UU.S. stocks advanced on Tuesday after U.S. President BarackObama decided to seek congressional authorization before takingmilitary action against Syria, a move that was likely to shelveany strike for at least several days. The Dow Jones industrialaverage rose 17.01 points or 0.11 percent, the S&P 500 gained 6.95 points or 0.43 percent, and the NasdaqComposite added 24.317 points or 0.68 percent.
** ALCATEL LUCENT SA, $2.89, up 12 pct (11:07 a.m.ET)
** MICROSOFT CORP, $31.87, down 5 pct (9:36 a.m.ET)
** NOKIA CORP, $5.44, up 40 pct
Two years after hitching its fate to Microsoft's Windows Phone software, Nokia collapsed into the arms of theU.S. software giant on Tuesday, agreeing to sell its mainhandset business for 5.44 billion euros ($7.2 billion).
The news spurred a rise in the stock of other networkequipment maker such as France's Alcatel-Lucent.
Mirabaud Securities analyst Susan Anthony saidAlcatel-Lucent was more at risk as a bid target. "Nokia shouldbe able to stand on its own two feet, now that it's morefocused, profitable and cash-generative. I think there's morechance of Alcatel-Lucent needing to find an acquirer," she said.
** CYTOKINETICS INC, $8.40, down 20 pct (9:35 a.m.ET)
** AMGEN INC, $111.20 (9:35 a.m. ET)
An experimental heart failure drug from Amgen andCytokinetics missed its goal of improving shortness of breath ina mid-stage clinical trial, leaving its future uncertain.
** VERIZON COMMUNICATIONS, $45.47, down 4 pct (9:37a.m. ET)
** VODAFONE GROUP, $31.15, flat
Verizon Communications agreed on Monday to pay $130 billionto buy Vodafone Group out of its U.S. wireless business,signing history's third largest corporate deal announcement tobring an end to an often tense 14-year marriage.
** ARQULE INC, $2.42, down 13 pct (9.36 a.m. ET)
The drugmaker said a late-stage trial of its liver cancerdrug showed high incidence of low white blood cell count inpatients, leading to an independent safety committeerecommending the company lower the drug dose.
** SUNTECH POWER HOLDINGS CO LTD, $0.91, down 12 pct(9:37 a.m. ET)
The Chinese solar panel maker, whose main manufacturing unitis in insolvency proceedings, said it had a reached a deal withcreditors to convert debt into equity and also said a strategicinvestor would buy new shares, providing funds.
The company said in the statement that it expected to entera restructuring agreement "in the next week or so."
** BANK OF AMERICA CORP, $14.37 (9:38 a.m. ET)
Bank of America launched on Tuesday an up to $1.5 billionshare offering in China Construction Bank Corp (CCB), exiting an eight-year investment in China'ssecond-biggest lender in a bid to shore up its own balancesheet.
** PEABODY ENERGY CORP, $17.71, up 3 pct (9:39 a.m.ET)
** ARCH COAL INC, $4.63, up 4 pct
Front-month gas futures on the New York MercantileExchange were up 2 percent at $3.653 per million British thermalunits early Monday morning, lifting coal stocks. Coal competeswith natural gas for use in power production, and higher gasprices are seen as a positive because they may encouragecoal-to-natural gas switching at utilities.
** TELUS CORP, $32.99, up 7.2 pct (10:48 a.m. ET)
** BCE INC, $42.43, up 7.1 pct (10:47 a.m. ET)
** ROGERS COMMUNICATIONS INC, $42.35, up 6.9 pct(10:45 a.m. ET)
Shares of Canada's big three telecom players - BCE Inc, Rogers Communications Inc and Telus Corp rose on Tuesday after Verizon Communications disclosed that it no longer plans a foray into Canada.
At least two brokerages raised their rating and another tworaised their price target on Telus' stock. Brokerages alsoraised their price target on BCE and Rogers' stock.
** JARDEN CORP, $45.53, up 6 pct (9:40 a.m. ET)
The U.S. consumer products company has agreed to buy scentedcandle maker Yankee Candle Company Inc for $1.75billion, the Wall Street Journal reported, citing peoplefamiliar with the matter.
** FREEPORT-MCMORAN COPPER & GOLD INC, $31.10, up 3pct (9:41 a.m. ET)
The Indonesian unit of the miner has lifted its forcemajeure at the world's second-biggest copper mine, almost fourmonths after a deadly accident at the remote Papua complex, thelocal CEO said on Tuesday.
** CLIFFS NATURAL RESOURCES INC, $21.69, up 4 pct(9:41 a.m. ET)
The miner's shares inched up after iron ore rose for thefirst session in four as Chinese steelmakers ramped upproduction amid a strong consumption season, boosting appetitefor the raw material.
** HALOZYME THERAPEUTICS INC, $8.64, up 5 pct (9:41a.m. ET)
The European Commission approved a new formulation ofRoche's breast cancer drug Herceptin, which allows themedicine to be administered more quickly. The new injectableversion, which uses Halozyme's enzyme technology, cuts downtreatment time to just two to five minutes.
** D.R. HORTON INC, $18.10, up 1.4 pct (10:44 a.m.ET)
** PULTEGROUP INC, $15.74, up 2.3 pct
** TOLL BROTHERS INC, $30.93, up 1 pct
** LENNAR CORP, $32.17, up 1 pct
** KB HOME, $16.44, up 3 pct
U.S. construction spending rose in July as more outlays tobuild homes and businesses countered a decline in the governmentsector. Construction spending climbed 0.6 percent to an annualrate of $901 billion, the Commerce Department said. The growthrate was above the median forecast in a Reuters poll ofanalysts.
** CIENA CORP, $20.72, up 4 pct (12:38 p.m. ET)
Brokerage Northland Capital Markets raised its price targeton the network equipment maker's stock to $26 from $25, sayingit expects optical spending for North America to increase.
"Tailwinds driving demand for more capacity includesupporting LTE capacity, and data-center to data-centerinterconnection for both long haul and short reach (regional)applications," Northland analyst Catharine Trebnick wrote in anote.
** AVANIR PHARMACEUTICALS INC, $5.43, up 7 pct(13:17 p.m. ET)
The company said it settled its patent litigation withActavis Inc related to Actavis' marketing approvalapplication for a generic version of Avanir's drug Nuedexta. Under the agreement, Actavis has the right to begin selling ageneric on July 30, 2026.
Nuedexta is approved to treat Pseudobulbar Affect, suddenepisodes of laughing or crying which is caused by neurologicalconditions such as strokes or Alzheimer's disease.
** DRYSHIPS INC, $2.40, up 3 pct (9:42 a.m. ET)
The contract drilling unit of Dryships said it had signed anagreement to amend certain provisions in its $1.35 billion debtfacility and that it had signed at $600 million-contract withSamsung Heavy Industries to build an ultra deepwater drillship.
** LOGITECH INTERNATIONAL SA, $7.79, up 6 pct (9:43a.m. ET)
The computer accessories maker launched its first productsfor Samsung Electronics Co Ltd's Galaxy Tab 3, whichincludes an ultra thin built-in keyboard and protective casesmade from water-repellant materials that provide front and backprotection. The Ultrathin Keyboard Folio and Logitech Folio areexpected to be available in the U.S., Europe and some Asiancountries from October 2013.
** ERICSSON, $12.54, up 6 pct (9:44 a.m. ET)
The global number one mobile network infrastructure firmsaid on Monday it would build three new data centres over thenext five years at a cost of around 7 billion Swedish crowns($1.05 billion).
** ISIS PHARMACEUTICALS, $27.35, up 6 pct (9:45a.m. ET)
An experimental drug from Isis Pharmaceuticals produced asharp reduction in levels of triglycerides, a type of fat in theblood that increases the risk of heart disease, a smallmid-stage trial showed.
** RIO TINTO, $47.63, up 5.6 pct (09:58 a.m. ET)
China Molybdenum has cleared a key hurdle totaking control of Rio Tinto Northparkes copper mine, withJapan's Sumitomo Metal Mining and Sumitomo Corp deciding not to match the Chinese miner's $820 millionbid.
** ESPERION THERAPEUTICS INC, $16.60, up 3 pct(10:05 a.m. ET)
The drugmaker said its drug reduced levels of bad blood fatin a mid-stage trial among patients with high levels ofcholesterol, when added to a standard of care treatment.
** ENPHASE ENERGY INC, $6.56, up 4 pct (10.00 a.m.ET)
Roth Capital started coverage of the micro-inverter makerwith a "buy rating", saying the company's first-mover advantage,combined with industry-leading technology and solid distributionchannels, had given it a large share in the US residentialmarket, while setting the stage for increasing penetration intointernational markets.
** LEAPFROG ENTERPRISES INC, $9.06, down 5.8 pct(10:01 a.m. ET)
Brokerage BMO Capital Markets cut its rating on the toymaker's stock to "market perform" from "outperform," accordingto Theflyonthewall.com.
** KEY ENERGY SERVICES INC, $7.10, up 6 pct (10:28a.m. ET)
Analysts at Barclays upgraded the oilfield services companyto "overweight" from "equal weight," citing an improvedlong-term outlook for operations in Mexico and increasingconfidence that activity in the U.S. land market would exceedexpectations in the second half of 2013. Analysts at GlobalHunter Securities also raised their rating on the stock to "buy"from "neutral".
** CBS Corp, $53.75, up 5 pct (10:47 a.m. ET)
The U.S. broadcaster said it has reached an agreement withTime Warner Cable Inc to end a month-long blackout ofits stations in New York, Los Angeles and Dallas.
** MICRON INC, $14, up 3 pct (11:30 a.m. ET)
The chipmaker is expected to benefit from tight flash memorysupply and focus on higher margin markets such as server,networking, smartphones and tablets, two brokerages said.
"Micron is executing well in a consolidating memory industrywith attractive and immediately accretive Elpida asset purchasefrom bankruptcy and good revenue diversification," ROTH CapitalPartners analyst Krishna Shankar wrote in a note.
** AMAZON.COM, $289.93, up 3.2 pct (11:05 a.m. ET)
The world's largest online retailer introduced KindleMatchBook, a plan which gives customers who bought print booksfrom Amazon since 1995 the option of buying the Kindle editionsfor $2.99, $1.99 or 99 cents. (Compiled by Varun Aggarwal; Editing by Sreejiraj Eluvangal)
