BUZZ-U.S. Stocks on the Move-Weibo, SinoCoking, Apple, Rada, Luna

Tue Sep 9, 2014 1:01pm EDT
 
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(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for more market insights, including options activity, ; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) Shares of SinoCoking Coal and Coke Chemical Industries were up as much as 200 percent in heavy volume following the coal processor's agreement to implement a technology to convert coal into syngas at four underground mines in China. The Dow Jones industrial average was down 0.44 percent at 17,036.37, the S&P 500 was down 0.37 percent at 1,994.13 and the Nasdaq Composite was down 0.33 percent at 4,577.087.

** SINOCOKING COAL AND COKE CHEMICAL INDUSTRIES, $8.3901, +187.33 pct

The coal processor signed an agreement to implement a technology to convert 21 million tons of coal at four underground mines in China into syngas, a clean burning fuel.

The mines were shut for three years due to the Chinese government's guidelines on mine consolidation. The first phase of the project will cost about $18 million and be funded primarily from cash reserves, while subsequent phases will cost about $280 million and be funded with bank loans and company-issued debt.

** APPLE INC, $100.0712, +1.74 pct

Apple Inc is expected to unveil a smartwatch, its first new device in four years, in a gala event on Tuesday that may also mark its long-awaited entry into the mobile payments sphere and deliver a larger iPhone.

  Continued...