MARKET PULSE-Enzymotec, Rubicon Project, Summer Infant, Gramercy Property

Wed May 14, 2014 12:58pm 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 edged lower on Wednesday, with the Dow and S&P 500 both coming off their record closing highs, though losses were concentrated in small-cap names. The Dow Jones industrial average was down 0.36 percent at 16,656.07, and the S&P 500 was down 0.19 percent at 1,893.84.

** SEARS HOLDINGS CORP, $42.61, -1.43 pct

The department store operator said it was considering the sale of its 51 percent stake in Sears Canada Inc, a move that could mean all of the Canadian department store operator goes up for sale.

** PERNIX THERAPEUTICS HOLDINGS INC, $5.5, +28.50 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, $2.45, +47.59 pct   Continued...