MARKET PULSE-Anika, Forest Oil, Sunedison, Target, Plug Power
(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stock indexes were mostly flat on Wednesday as, for a third straight session, equities were unable to hold onto gains that took the S&P 500 near record levels. The Dow Jones industrial average was down 0.04 percent at 16,172.79, the S&P 500 was down 0.13 percent at 1,842.76 and the Nasdaq Composite was up 0.10 percent at 4292.01.
** ANIKA THERAPEUTICS INC, $46.8499, +35.92 pct
The drug maker said the U.S. Food and Drug Administration approved its drug to treat pain and improve joint mobility in patients with osteoarthritis of the knee, more than four years after it first filed for approval.
** FOREST OIL CORP, $2.05, -36.53 pct
The oil and gas producer reported a lower-than-expected fourth-quarter profit as costs rose and said it expected less-lucrative gas to make up a larger percentage of output in 2014. Oil would make up 21 percent of total production, lower than the 32 percent it had forecast in December, the company said.
At least two brokerages cut their price targets on the stock.
** LA JOLLA PHARMACEUTICAL CO, $8.2, +7.89 pct Continued...