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,; for the Morning News Call newsletter, 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.


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.