MARKET PULSE-Enzymotec, Celldex, Summer Infant, Gramercy Property Trust

Wed May 14, 2014 11:25am EDT
 
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(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 fell on Wednesday as investors found few reasons to keep pushing shares higher, with the Dow and S&P 500 both modestly coming off their record closing highs. The Dow Jones industrial average was down 0.32 percent at 16,662.25, and the S&P 500 was down 0.21 percent at 1,893.5.

** SEARS HOLDINGS CORP, $43.48, +0.58 pct

The department store operator said it was looking to sell its 51 percent stake in Sears Canada, in a process that could result in all of the struggling Canadian department store operator being put up for sale.

** PERNIX THERAPEUTICS HOLDINGS INC, $5.61, +31.07 pct

The pharmaceutical company said it would acquire the U.S. marketing rights to GlaxoSmithKline's migraine drug Treximet for an upfront payment of $250 million.

Acquiring the rights to the drug, which had annual sales of $78.7 million in 2013, will nearly double Pernix's revenue, the company said.

** SUMMER INFANT INC, $2.41, +45.18 pct   Continued...