BUZZ-U.S. Stocks on the Move-CBS, Energy stocks, Medical Action

(Corrects item on General Mills (NYSE: GIS - news) to say net sales fell 2.8 pct to $4.28 billion, not $4.41 billion. The error appeared in earlier versions of Buzz as well) (For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for more market insights, including options activity, ; for the Day Ahead newsletter, http://link.reuters.com/mex49s; for the Morning News Call newsletter, http://link.reuters.com/nex49s)

U.S. stocks edged higher on Wednesday as investors continued to find value in equities over other asset classes despite the latest economic data coming in below expectations. The Dow Jones industrial average was up 0.29 percent at 16,867.45, the S&P 500 was up 0.27 percent at 1,955.19 and the Nasdaq Composite was up 8.23 points, or 0.19 percent, to 4,358.59.

** CBS CORP, $61.61, +4.71 pct

The U.S. Supreme Court ruled that online TV service Aereo Inc, backed by Barry Diller's IAC/InterActive Corp, violates copyright law by providing subscribers with broadcast network content via the Internet. The ruling protects $3 billion in retransmission fees broadcasters get from cable and satellite TV systems.

CBS, Walt Disney Co's ABC (HKSE: 1288-OL.HK - news) network, Comcast Corp's NBCUniversal and Twenty-First Century Fox Inc had appealed a court decision in April last year that denied their request to shut Aereo down.

** IMPRIVATA INC, $16.47, +9.80 pct

The healthcare software provider's shares rose as much as 17 percent in their market debut to $17.49, valuing the company at about $400 million. The offering of 5 million common shares raised $75 million, priced at $15 each - the mid-point of the expected price range.

** POWERSECURE INTERNATIONAL INC (NYSE: POWR - news) , $9.39, +19.01 pct

The utility and energy technology provider made changes to the service arrangement with one of its major utility customer, which include adjustments to pricing.

PowerSecure did not name the customer, but said these changes will restore profitability of the work provided to the utility.

** ADEPTUS HEALTH INC, $26.11, +18.68 pct

Shares of the emergency room operator rose as much as 19 percent in their debut to $26.15, valuing company at about $541 million. The offering of 4.9 million common stock, priced at $22 each - the top end of the expected range - raised about $108 million.

Adeptus shares was the second-biggest percentage gainers on the New York Stock Exchange on Wednesday morning.

** INFINITY PHARMACEUTICALS INC (NasdaqGS: INFI - news) , $12.5695, +5.71 pct

Morgan Stanley (Xetra: DWD.DE - news) started covering stock with "overweight" rating and set a price target of $17, saying analysts see "strategic value" in the company's experimental blood cancer drug, IPI-145, which is in mid-stage trial.

** TEAM INC (NYSE: TISI - news) , $38.43, -1.34 pct

The maintenance and inspection services provider said it expects full-year earnings and revenue below analysts' estimates. The company said it incurred a $2.1 million currency-exchange loss related to its Venezuelan business.

** PROTHENA CORP (Frankfurt: A1KAVV - news) , $21.9, -5.24 pct

The drug developer priced its offering of 4.75 million common shares at $22.50 each, a discount of 2.6 pct to Tuesday closing price on the Nasdaq. The company expects to raise $102.5 million from the offering that represents nearly 22 percent of the total outstanding shares.

** TRINITY INDUSTRIES INC (NYSE: TRN - news) , $43.06, +3.29 pct

UBS (NYSEArca: FBGX - news) raised the railcar parts provider's shares to "buy" from "neutral", according to Theflyonthewall.com.

** SPARTAN MOTORS INC (NasdaqGS: SPAR - news) , $4.7, -6.56 pct

Greenhill & Co will replace auto parts maker Spartan in the S&P 600 index after June 30. (http://prn.to/1jOaJoy)

** SHIRE PLC (LSE: SHP.L - news) , $230.78, +3.36 pct

** ABBVIE INC (NYSE: ABBV - news) , $55.245, +3.09 pct

AbbVie CEO Richard Gonzalez did not rule out a hostile bid for British drugmaker Shire, which has spurned its $46 billion offer.

He declined to comment on what approach AbbVie might take if it went down a hostile path. AbbVie said it was willing to move quickly to clinch a deal.

** MEDICAL ACTION INDUSTRIES INC (NasdaqGS: MDCI - news) , $13.69, +93.64 pct

** OWENS & MINOR (NYSE: OMI - news) , $35.33, +1.38 pct

Healthcare logistics company Owens & Minor agreed to acquire Medical Action, a supplier of medical and surgical disposable products, for $13.80 per share - a premium of 95 percent to the stock's Monday close. The total deal value is for about $208 million, which includes assumed debt, net of cash.

Medical Action shares nearly doubled in value to be the top percentage mover of the day.

** AERIE PHARMACEUTICALS INC (NasdaqGM: AERI - news) , $27.47, +30.62 pct

The drug developer said its single-drop eye treatment was shown to be superior to each of its two components in a mid-stage trial. The drug, Roclatan, is a combination of Aerie's other experimental eye drug, Rhopressa, and a glaucoma medication called latanoprost.

Aerie shares were the second-biggest percentage gainer on the Nasdaq.

** VALERO ENERGY CORP, $50.68, -9.48 pct

** HOLLYFRONTIER CORP, $45.12, -7.86 pct

** PBF ENERGY INC (NYSE: PBF - news) , $28.5, -9.35 pct

** MARATHON PETROLEUM CORP, $80.76, -6.58 pct

** WESTERN REFINING INC (NYSE: WNR - news) , $37.7, -7.23 pct

** SM ENERGY, $83.71, +4.53 pct

** MIDSTATES PETROLEUM CO INC, $7.15, +3.03 pct

U.S. officials told energy companies they may export a variety of ultra-light oil if it has been minimally refined

Analysts said exports could push up U.S. crude prices, hurting refiners, who have benefited from a glut of cheap U.S. shale crude

Shares of Valero and PBF (Taiwan OTC: 1760.TWO - news) were Wednesday's top percentage losers on the New York Stock Exchange.

** VALMONT INDUSTRIES INC (NYSE: VMI - news) , $149.13, -6.97 pct

The company, which makes engineered steel and aluminum structures and components for outdoor lighting, traffic control and wireless communication, cut full-year profit forecast to $9.35-$9.65 per share from $10-$10.50 late Tuesday.

Valmont cited project delays at its utility support structures business and weaker Australian economy hurting coatings business for the cuts, and said it expects second quarter earnings of $2.35-$2.40 per share. Analysts on average were expecting $2.79, according to Thomson Reuters I/B/E/S.

Wedbush Securities analysts cut their rating on the stock to "neutral" from "outperform", while at least three brokerages - Credit Suisse (NYSE: CS - news) , D.A. Davidson and Janney - cut their price targets on the stock.

** HERON THERAPEUTICS (NasdaqCM: HRTX - news) , $11.4199, -10.57 pct

The drugmaker priced its common stock offering of 4.5 million shares - 19 percent of the total outstanding number - at $11.75 each. The offer is at a discount of 8 percent to the stock's Wednesday close on the Nasdaq.

Heron shares were among the top percentage losers on the Nasdaq on Wednesday morning.

** INSYS THERAPEUTICS INC (NasdaqGM: INSY - news) , $30.41, +4.83 pct

The specialty pharmaceutical company said the U.S. FDA granted orphan drug designation to its experimental epilepsy drug. The company plans to file for an application to start human trials of the drug in the second half of 2014.

** MONSANTO CO, $126.68, +5.02 pct

The world's largest seed company reported a third quarter profit $1.62 per share from continuing operations, above average analyst estimate. The company raised its earnings and free cash flow outlook to the upper end of its previous ranges, citing strong outlook for its seeds and traits business.

Monsanto (Dusseldorf: MOO.DU - news) also announced a new two-year $10 billion share repurchase authorization.

** APOLLO EDUCATION GROUP INC, $30, +2.46 pct

The for-profit college operator raised full-year revenue forecast to $3.04 billion-$3.06 billion from $3 billion-$3.1 billion. The company reported third-quarter adjusted profit of 76 cents per share, above the average analyst estimate of 66 cents, according to Thomson Reuters I/B/E/S.

** BARNES & NOBLE INC (NYSE: BKS - news) , $21.81, +6.08 pct

The bookseller said it would spin off its Nook tablets and college books business. The business has cost the company hundreds of millions of dollars as it tried to keep pace with deep-pocketed rivals such as Amazon.com Inc, Apple Inc (NasdaqGS: AAPL - news) and Google Inc (Xetra: GGQ1.DE - news) .

** GENERAL MILLS INC, $51.94, -3.28 pct

The food manufacturer said quarterly net sales fell 2.8 percent to $4.28 billion, while sales in its U.S. branded goods retail business fell 1 percent to $2.4 billion

** CVR REFINING LP, $25.08, -7.59 pct

The oil and gas refining company launched a public offering of 6 million common units - representing 4 percent of its total outstanding units.

The company said net proceeds of the offering will be used to redeem its common units from CVR Refining Holdings LLP.

** HANESBRANDS INC (NYSE: HBI - news) , $95.76, +8.15 pct

The underwear maker said it will buy Paris-based DBApparel from Sun Capital Partners Inc in a deal valuing the company at 400 million euros ($545 million) on an enterprise basis. The cash deal values DBApparel at about 7.5 times EBITDA, Hanesbrands said.

** PIONEER NATURAL RESOURCES CO (NYSE: PXD - news) , $230.82, +4.14 pct

** ENTERPRISE PRODUCT PARTNERS LP, $76.96, +1.12 pct

The Department of Commerce, which has come under growing pressure to ease restrictions amid a resurgence in domestic production, has given approval via a private ruling to Pioneer (Frankfurt: 857040 - news) Natural Resources and Enterprise Product Partners to export a light oil called condensates.

** GOLAR LNG (Stuttgart: G20.SG - news) , $58.44, +5.68 pct

The Norwegian shipping firm priced its offering of 11 million shares - representing 14 percent of total outstanding shares - at $54 each.

** HARLEY-DAVIDSON INC, $69.69, -1.37 pct

KeyBanc Capital Markets cut rating on the motorcycle-maker's stock to "hold" from "buy", saying motorcycle industry retail trends appear sluggish.

** HOLOGIC INC (NasdaqGS: HOLX - news) , $25.6, +1.83 pct

The medical device maker said a study found its 3D mammography technology was able to detect significantly more invasive cancers than a traditional mammogram. The study, published in Journal of the American Medical Association, also found that 3D mammography reduces the number of women called back for unnecessary tests. (Compiled by Amrutha Gayathri in Bangalore; Editing by Joyjeet Das)