News

Talisman Energy, Salix, Encana, Laredo Petroleum and Yandex are big market movers

NEW YORK, N.Y. – Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market:

NYSE

Talisman Energy Inc., up $2.46 to $7.58

Spanish energy company Repsol is buying the Canadian oil firm for $8.3 billion and expects the deal to close in mid-2015.

Laredo Petroleum Inc., up 31 cents to $7.70

The energy company announced a budget of $525 million and continues discussions regarding its Permian-Garden City properties.

Encana Corp., up 86 cents to $12.48

The energy exploration and development company said it will boost capital spending in 2015 and focus on its highest-margin areas.

Petrobas SA, up 2 cents to $6.28

Bloomberg reported that the oil company is curbing exploration spending amid collapsing prices and an ongoing corruption probe.

Nasdaq

Salix Pharmaceuticals Ltd., up $7.08 to $110.11

The drug developer will cut sales to wholesalers in an effort to fix inventory issues and it withdrew its fourth-quarter forecast.

Prothena Corp., up 88 cents to $18.50

The biotechnology company’s potential AL amyloidosis treatment received special FDA recognition allowing for an expedited review.

Yandex NV, down 86 cents to $16.82

The Russian Internet search company’s shares weakened along with the ruble, as low oil prices and sanctions hammer the Russian economy.

Zafgen Inc., down 8 cents to $21.67

The biotechnology company focusing on metabolic disorders will be added to the Nasdaq Biotechnology Index, effective December 22.