BUZZ-U.S. Stocks on the Move-XTL, Cree, Esperion, market debuts
(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) U.S. stocks were flat on Thursday as a positive reading on the labor market was not enough to entice buyers even after a sharp decline in the previous session. The Dow Jones industrial average was down 0.45 percent at 16,729.86 and the S&P 500 was down 0.61 percent at 1,934.31.
** XTL BIOPHARMACEUTICALS LTD, $3.5, +112.12 pct
** ELI LILLY & CO, $64.55, -0.81 pct
Eli Lilly said it would discontinue the development of its lupus drug as the treatment was not found to be effective enough in two late-stage trials.
Israel-based XTL will start mid-stage studies of its lupus drug in mid-2015. The company said on Sept. 2 it intends to approach the U.S. FDA with a finalized trial design for its lupus drug by the end of this year.
** ESPERION THERAPEUTICS INC, $28.66, +17.36 pct
The drugmaker said an experimental cholesterol-fighting drug being developed by the company lowered LDL levels significantly more than Merck & Co Inc's Zetia in a midstage clinical trial. Continued...