BUZZ-U.S. Stocks on the Move-Heron, Valero, Valmont, Medical Action

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U.S. stocks opened slightly lower on Wednesday as the latest economic data lagged expectations, giving investors further reasons to take profits amid ongoing tension in Iraq. The Dow Jones industrial average was up 0.11 percent at 16,837.2, the S&P 500 was up 0.05 percent at 1,951.03 and the Nasdaq Composite was down 8.78 points, or 0.2 percent, to 4,341.58.

** VALERO ENERGY CORP, $51.53, -7.97 pct

** HOLLYFRONTIER CORP, $46.4, -5.25 pct

** PBF ENERGY INC (NYSE: PBF - news) , $29.35, -6.65 pct

** MARATHON PETROLEUM CORP, $81.63, -5.58 pct

** WESTERN REFINING INC (NYSE: WNR - news) , $38, -6.50 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

** VALMONT INDUSTRIES INC (NYSE: VMI - news) , $148.99, -7.05 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.

** SHIRE PLC (LSE: SHP.L - news) , $227.04, +1.69 pct

** ABBVIE INC (NYSE: ABBV - news) , $54.42, +1.55 pct

AbbVie said it was willing to move quickly to clinch a deal with British drugmaker Shire. It set out a strategic rationale for acquiring Shire, which has spurned its $46 billion offer.

** HERON THERAPEUTICS (NasdaqCM: HRTX - news) , $11.585, -9.28 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.

** HOLOGIC INC (NasdaqGS: HOLX - news) , $26.09, +3.78 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.

** INSYS THERAPEUTICS INC (NasdaqGM: INSY - news) , $29.71, +2.41 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.

** MEDICAL ACTION INDUSTRIES INC (NasdaqGS: MDCI - news) , $13.7, +93.78 pct

** OWENS & MINOR (NYSE: OMI - news) , $35.26, +1.18 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.

** MONSANTO CO, $127.01, +5.29 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, $29.69, +1.40 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) , $22.39, +8.90 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 (NYSE: GIS - news) , $52, -3.17 pct

The food manufacturer said quarterly net sales fell 2.8 percent to $4.41 billion, while sales in its U.S. branded goods retail business fell 1 percent to $2.4 billion

** CVR REFINING LP, $24.85, -8.44 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.

** AERIE PHARMACEUTICALS INC (NasdaqGM: AERI - news) , $28.66, +36.28 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.

** HARLEY-DAVIDSON INC, $69.57, -1.54 pct

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

** HANESBRANDS INC (NYSE: HBI - news) , $95.85, +8.26 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) , $229.19, +3.40 pct

** ENTERPRISE PRODUCT PARTNERS LP, $77.25, +1.50 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) , $56.5499, +2.26 pct

The Norwegian shipping firm priced its offering of 11 million shares - representing 14 percent of total outstanding shares - at $54 each. (Compiled by Amrutha Gayathri in Bangalore; Editing by Joyjeet Das)