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BUZZ-U.S. STOCKS ON THE MOVE-Galectin, Netlist, Wet Seal

(Adds Wet Seat, Netlist (NasdaqGM: NLST - news) ) (For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, http://link.reuters.com/mex49s; for the Morning News Call newsletter, http://link.reuters.com/nex49s)

U.S. stocks rose at the open on Wednesday following data that showed the U.S. private sector created more jobs than expected in December and as deflation concerns in the euro zone were seen pushing the bloc's central bank into action. The Dow Jones industrial average was up 0.97 percent at 17,540.18, the S&P 500 was up 0.96 percent at 2,021.75 and the Nasdaq Composite was up 0.96 percent at 4,636.64.

** WET SEAL INC, $0.064, +16.36 pct

The struggling apparel retailer said it laid off about 3,700 full- and part-time employees on Wednesday as it closed 338 retail stores. The closures followed Wet Seal's failure to successfully re-negotiate meaningful concessions from landlords, the company said.

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** NETLIST INC, $1.07, +27.00 pct

Needham & Co raised its rating on the memory products maker's stock to "buy" from "hold". Analyst Richard Kugele said Netlist has likely won a preliminary injunction on Jan. 6 over SanDisk Corp (NasdaqGS: SNDK - news) , preventing future shipments of the ULLtraDIMM.

Kugele says granting the injunction means court believes Netlist stands a "very high likelihood" of prevailing in the upcoming contract and trade secret case over the product.

** GALECTIN THERAPEUTICS INC (NasdaqCM: GALT - news) , $4.1596, +28.78 pct

The drug developer said final results of the early-stage trial of its GR-MD-02 in fatty liver disease, or nonalcoholic steatohepatitis with advanced fibrosis, demonstrated that the drug was safe and well tolerated after multiple doses.

** BOEING CO (NYSE: BA - news) , $129.39, +1.46 pct

Airbus Group beat the planemaker in aircraft orders in 2014, maintaining a lead in new business despite lagging in deliveries, a person familiar with the matter said on Tuesday.

** PORTUGAL TELECOM SGPS SA, $0.84, -11.58 pct

Shares (Dusseldorf: DI6.DU - news) in Portugal Telecom slumped 20 percent to all-time lows on Wednesday as investors dumped the stock after authorities searched its offices on suspicions of fraud.

** MONSANTO CO, $117.2, +1.24 pct

The world's largest seed company said profits dropped 34 percent in the first quarter compared with a year ago, due in part to lower planted corn acres in South America and a shift in timing of some sales.

** KARYOPHARM THERAPEUTICS INC (NasdaqGS: KPTI - news) , $32.38, -3.26 pct

The drug developer priced its public offering of 3 million shares at $33 each, a discount of 1.4 percent to stock's Tuesday closing. Offering represents about 9 percent of Karyopharm's outstanding shares as of Jan. 6, according to Thomson Reuters data.

** SUPERVALU INC (NYSE: SVU - news) , $9.41, +2.39 pct

The supermarket chain reported third-quarter adjusted profit and sales above analysts' estimates as comparable sales rise at its Save (Milan: SAVE.MI - news) -A-Lot stores. sales at Save-A-Lot stores rose 6.9 percent in third quarter. Analysts expected 4.8 percent rise, according to Consensus Metrix poll.

** ALKERMES PLC (NasdaqGS: ALKS - news) , $64.9799, +6.65 pct

Alkermes said its experimental drug to treat schizophrenia met the main goal in a mid-stage trial. The drug, codenamed ALKS 3831, is a combination of samidorphan and the antipsychotic olanzapine.

** KEURIG GREEN MOUNTAIN INC (Xetra: A1XFME - news) , $134.74, +5.94 pct

** SNAPPLE GROUP INC, $72.16, +0.95 pct

The maker of the K-Cup single-serve coffee pod, will sell Dr Pepper Snapple Group's soda pods for its at-home cold beverage system, Keurig Cold, expected to be launched this year. Dr Pepper's beverage brands include Snapple, 7-Up and Schweppes.

** ZAFGEN INC (NasdaqGS: ZFGN - news) , $35.48, +10.29 pct

The company said a mid-stage study showed its experimental drug reduced weight in patients obese due to damage to a part of the brain. The drug, beloranib, was tested against a placebo in 14 adults with obesity resulting from damage to the hypothalamus following surgery to remove a kind of brain tumor.

** SIRIUS XM HOLDINGS, $3.41, +1.79 pct

The satellite radio service company said it would beat its 2014 revenue forecast of $4.15 billion after net subscriber additions exceeded expectations. The company reported about 1.8 million net subscriber additions for the year, above its increased forecast of 1.5 million.

** AVEO PHARMACEUTICALS INC (NasdaqGS: AVEO - news) , $0.8124, -3.29 pct

The company doing business as Aveo Oncology said it planned to cut two-thirds of its workforce, or 40 positions, as part of a restructuring that includes the departure of Chief Scientific Officer Jeno Gyuris.

** PIONEER NATURAL RESOURCES (NYSE: PXD - news) , $141.66, +1.58 pct

Topeka Capital cuts its target price to $158 from $200 on the oil and gas producer's stock after the company said it has restructured most of its 2015 hedge position to protect against further falls in oil prices.

** KALOBIOS PHARMACEUTICALS INC (NasdaqGM: KBIO - news) , $0.5998, -67.22 pct

KaloBios Pharmaceuticals said it would discontinue the development of its drug for lung infections in cystic fibrosis patients after it failed in a mid-stage study.

** J.C. PENNEY CO INC, $7.84, +19.51 pct

The department store operator said same-store sales rose 3.7 percent in November and December, boosting its shares and offering a glimpse of what is expected to be the best holiday season for retailers since.

** ROYAL DUTCH SHELL (Xetra: R6C1.DE - news) , $64.18, +1.84 pct

The Anglo-Dutch oil company will pay out 55 million pounds ($83.4 million) in compensation for two oil spills in Nigeria in 2008 after agreeing a settlement with the affected community.

** INTEL CORP, $35.62, +0.96 pct

Chief Executive Brian Krzanich showed off a computer built into a jacket button and a wristband that transforms into a selfie-snapping flying camera, as the chipmaker extended its push into smart wearable gadgets.

** MICRON TECHNOLOGY INC (NasdaqGS: MU - news) , $32.04, -2.53 pct

JP Morgan cut price target to $40 from $45, while Nomura cut it to $40 from $41; median price target is $42. Micron's memory chip output will fall as company plans to convert capacity and it also expects selling price for its chips to fall in February quarter, JP Morgan analysts wrote in note.

The memory chipmaker gave a quarterly revenue forecast on Tuesday that missed Wall Street's expectations, hurt by an output drop as it upgrades DRAM production lines, and its shares fell.

** CONTINENTAL RESOURCES INC (NYSE: CLR - news) , $34.8, +3.60 pct

CEO Harold Hamm, embroiled in a bitter divorce, offered to pay his former wife $974.8 million, but she rejected a hand-written check, lawyers for both sides said on Tuesday.

** AMAZON.COM INC, $299.44, +1.41 pct

Crowdsourced fundraising site Kickstarter has dropped Amazon.com (NasdaqGS: AMZN - news) as its global payments processor in favor of Stripe, the fast-growing startup used by Twitter Inc (Xetra: A1W6XZ - news) , Facebook Inc and Apple Inc (NasdaqGS: AAPL - news) .

The switch comes as the Internet retailer begins to move clients from its customizable checkout service to an Amazon-branded one. (Compiled by Lehar Maan; Editing by Joyjeet Das)