MARKET PULSE-BlackBerry, GrafTech, Oxygen, World Acceptance
(For more market insights, including options activity, click on ; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning Call newsletter , click link.reuters.com/sum45t) U.S. stock indexes were little changed on Monday in below-average trading volume, while shares of Blackberry at a 10-year low after the company replaced its CEO. The Dow Jones industrial average was up 0.01 percent at 15,617.88, the S&P 500 up 0.19 percent at 1,764.99 and the Nasdaq Composite was up 0.18 percent at 3,928.91.
** BLACKBERRY LTD, $6.49, down 16 pct (12:38 p.m. ET)
The company is abandoning a plan to sell itself and instead will replace its chief executive officer and raise about $1 billion from institutional investors, including its largest shareholder. More than 42 million shares changed hands in the first half hour of trading.
** OXYGEN BIOTHERAPEUTICS INC, $5.13, up 59 pct (03:07 p.m. ET)
Oxygen's stock continued to soar five days after the medical products and cosmetics maker said a Duke Clinical Research Institute analysis of data from 14 independent clinical trials on the use of its drug, levosimendan, showed the drug is associated with reduced mortality in patients undergoing heart surgery.
The experimental drug levosimendan, which is approved in various countries but not in U.S., is moving into late-stage trials as a treatment to prevent cardiac surgery patients from developing low cardiac output syndrome.