MARKET PULSE-Apple, Amyris, Oramed, Yingli
U.S. stocks fell on their first day of trading in 2014 on Thursday as investors booked profits in the wake of the S&P 500's best yearly advance since 1997. The Dow Jones industrial average was down 0.76 percent at 16,449.89, the S&P 500 was down 0.90 percent at 1,831.66 and the Nasdaq Composite was down 0.93 percent at 4,137.642.
** APPLE INC, $553.59, -1.32 pct
Wells Fargo downgraded the iPhone and iPad maker's stock to "market perform" from "outperform." The brokerage said the company's gross margins may come under pressure later this year following the launch of iPhone 6. Wells Fargo said Apple's market capitalization has limited opportunity for growth without material market share gains and cited concern that the balance of power may start to shift back to wireless operators from handset vendors.
** AMYRIS INC $4.33, -18.15 pct
Brokerage Cowen & Co downgraded the biofuel maker to 'underperform' from 'market perform' on valuation, but raised its price target to $3 from $2.40. Amyris shares had almost doubled to $5.29 in December after the company formed a joint venture with French oil company Total SA on Dec. 5.