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Dynegy powers higher after reported bid approach from Vistra Energy

Dynegy Inc shot up 24% after the Wall Street Journal reported Vistra Energy is mulling a bid
Takeover bid
Vistra is reportedly interested in acquiring its debt-laden rival

Major movers in the lunchtime session

RISERS

Vince Holding Corp (NYSE:VNCE), up 35% at US$0.445p. The luxury clothing and accessories group’s rights issue is to be supported to the tune of US$30mln by Sun Capital Partners.

Dynegy Inc (NYSE:DYN) was up 24% at US$9.03 on a bid approach from fellow energy broker Vistra Energy Corp (NYSE:VST). News of the potential takeover was broken by the Wall Street Journal.

FALLERS

Retailer Foot Locker Inc (NYSE:FL) slumped 15% to US$59.86 after reporting a 6% year-on-year decline in first quarter earnings last night.

Anthera Pharmaceuticals Inc (NASDAQ:ANTH) saw its shares slide 8.5% to US$1.61 as the Nasdaq exchange warned the company it was in danger of losing its listing status.

Below are some of the blue-chips moving in pre-market trading.

RISERS

Agricultural equipment king Deere & Company’s (NYSE:DE) shares were almost 7% dearer in pre-market trading after fiscal second quarter earnings topped expectations.

Fashion firm Gap Inc (NYSE:GPS) sashayed 4.1% higher to US$24.15 after its quarterlies provided some much needed cheer for the gloomy retail sector, thanks to the performance of its cheap and cheerful Old Navy fascia that did the business

FALLERS

Gap’s sector peer Foot Locker Inc (NYSE:FL) provided a downbeat contrast with a 6% year-on-year decline in first quarter earnings. The shares were down 10% in pre-market trading.

Campbell Soup Company (NYSE:CPB) was also in hot water after it posted a 2% decline in fiscal third quarter earning. The shares were not exactly simmering - more cooling down at US$54.50, down US$2.44.

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