MARKET PULSE-Merck, Titan Pharma, Neutral Tandem, Mindspeed Technologies
May 1 (Reuters) - Some U.S. stocks on the move on Wednesday:
WALL ST DIPS AS MERK DRAGS; FED ON TAP
Wall Street edged lower at the open on Wednesday, weighed by weak results from Merck as investors waited to hear from the U.S. Federal Reserve on the state of the economy. The Dow Jones industrial average dropped 0.28 percent, the Standard & Poor's 500 Index fell 0.20 percent, and the Nasdaq Composite Index fell 0.08 percent.
** MERCK & CO INC, $44.76, down 5 pct (0930 ET)
The drugmaker reported disappointing first-quarter sales on a surprising downturn for its Januvia diabetes medicine, the company's biggest product and usual earnings driver, and it cut its profit forecast for the full year.
** TITAN PHARMACEUTICALS INC, $0.34, down 80 pct (0932 ET) Continued...