BUZZ-U.S. STOCKS ON THE MOVE-Coronado, Sungy, energy and potash stocks
(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks opened modestly lower on Thursday in the wake of a rally in the prior session after the Federal Reserve cut economic growth and inflation projections and indicated it was in no rush to hike interest rates. The Dow Jones industrial average was down 0.68 percent at 17,953.16 and the S&P 500 was down 0.56 percent at 2,087.66.
** CORONADO BIOSCIENCES INC, $4.855, +50.78 pct
The drug developer partnered with cancer research hospital City of Hope in Duarte, California to develop and market its chimeric antigen receptor technology, a cell therapy intended to fight cancer. The company formed Mustang Therapeutics Inc as part of the $40 million deal.
** GUESS INC, $19.3, +15.29 pct
The apparel retailer reported better-than-expected fourth quarter profit on Wednesday as expenses fell and online sales rose. Lowered promotions, lean inventories and improving product response helping results, Jefferies & Co analyst Randal Konik wrote in a note. However, Konik cut price target to $21 from $23, saying company not out of the woods yet.
** AMICUS THERAPEUTICS INC, $12.07, +29.09 pct Continued...