MARKET PULSE-Exelisis, LinkedIn, American Vanguard, Ellie May
(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. stocks gave up earlier gains on Friday, with major stock indexes turning modestly negative by late morning trading, as investors booked profits from advances earlier in the week. The Dow Jones industrial average was down 0.36 percent at 16,498.44, the S&P 500 was down 0.21 percent at 1,879.7 and the Nasdaq Composite was down 0.13 percent at 4,122.153.
** SKECHERS USA INC, $39.57, -5.72 pct
Sport shoes maker Skechers USA said on Friday it would explore buying a stake in the Los Angeles Clippers basketball team, whose owner is at the center of a controversy over alleged racist remarks.
** MERCK & CO INC, $58.18, -2.42 pct
** ENDOCYTE INC, $6.685, -61.54 pct
The companies said they had stopped a late-stage trial of their experimental ovarian cancer drug because it did not improve survival rates without the cancer worsening.
** LINKEDIN CORP, $150.09, -6.90 pct Continued...