CORRECTED-MARKET PULSE-Aeroflex, Staples, Dick's Sporting, Intercept Pharma

Tue May 20, 2014 11:05am EDT
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(Corrects name of chain in TJX Cos item to TJ Maxx from TJX Maxx. The error also appeared in an earlier version of Market Pulse) U.S. stocks edged lower at the open on Tuesday, with the S&P 500 coming off a two-day rally as investors assessed some of the final corporate results of earnings season. The Dow Jones industrial average was down 0.41 percent at 16,444.63, the S&P 500 was down 0.34 percent at 1,878.65 and the Nasdaq Composite was down 0.61 percent at 4,100.60.

** AEROFLEX HOLDING CORP, $10.45, +25.75 pct

British aerospace and defense supplier Cobham is buying U.S. communications equipment maker Aeroflex Holding Corp for $1.46 billion, continuing its quest for more commercial customers as its main defense clients cut spending.

** STAPLES INC, $11.915, -11.02 pct

The largest U.S. office supply retailer forecast a decline in sales in the current quarter as it struggles to win back shoppers who have shifted office supply purchases to e-retailers, mass merchants and drugstores.

** INTERCEPT PHARMA, $242.72, -6.65 pct

An article on alleged that the drugmaker had intentionally downplayed the side effects of its liver disease drug in a mid-stage trial that it stopped in January citing highly positive data. (   Continued...