(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 edged up on Friday, with major indexes trying to avoid falling every day this week, ahead of a speech by Federal Reserve Chair Janet Yellen that could make for a volatile close on Wall Street. The Dow Jones industrial average was up 0.16 percent at 17,707.29 and the S&P 500 was up 0.25 percent at 2,061.32.
** OHR PHARMACEUTICAL INC, $3.1, -64.49 pct
The company said its experimental eye drug failed the main goal in a mid-stage study as a combination therapy, wiping out nearly two-thirds of the company’s market value on Friday.
** CARNIVAL CORP, $47, +5.81 pct
The world’s largest cruise operator by revenue reported a better-than-expected quarterly profit, helped by higher demand and lower fuel prices.
** DOW CHEMICAL CO, $48.56, +4.57 pct
** OLIN CORP, $33.3, +22.47 pct
Dow Chemical said it would separate a significant part of its chlorine business and sell it to smaller rival Olin in a tax-efficient deal valued at about $5 billion.
** APPLIED DNA SCIENCES INC, $2.64, -15.92 pct
The company prices its combined offering of 3.82 million shares and warrants to buy 1.53 million shares at $3 per share.
The price is at a discount to stock’s Thursday close of $3.14.
** CONN‘S INC, $29.63, +4.37 pct
Piper Jaffray upgrades the stock to “overweight” from “neutral” and raises price target to $38 from $20. The company’s insurance and debt portfolio appears to be stabilizing as a result of lower delinquency rates and gas prices, analyst Peter Keith wrote.
** CENTRAL PACIFIC FINANCIAL CORP, $22.61, -7.45 pct
The bank said selling stockholders’ offering of 7.6 million shares was priced. The offering represents about 22 percent of the company’s outstanding shares.
** OREXIGEN THERAPEUTICS INC, $7.63, +5.24 pct
The drugmaker said on Thursday that the European Commission granted marketing authorization to the company’s obesity drug, Mysimba.
** BIOMARIN PHARMACEUTICAL INC, $130.4297, +12.88 pct
Deutsche Bank raises price target on the stock to $140 from $90. Deutsche analysts said they see a potential M&A take out of about $194-$271 per share in one year, assuming the company’s bone disorder drug, muscle weakness drug and blood clotting drug show positive results.
** LIVEDEAL INC, $3.2701, +4.81 pct
Numerous products offered by the company and ModernEveryday are now available on Amazon.com, the internet marketing company said. Advantages include expanding exposure to more than 700 million Amazon users at no additional costs to the company, CEO Jon Isaac said.
** MOL GLOBAL INC, $2.2832, -16.06 pct
The company reported a fourth-quarter loss, compared with a profit a year earlier, hurt by higher expenses. “Along with our IPO last year came many new expenses ... relating to listing fees, employee stock compensation and compliance,” said CFO Ramesh Pathmanathan.
** ESPERION THERAPEUTICS INC, $94, +6.21 pct
** JAZZ PHARMACEUTICALS PLC, $177.01, +2.09 pct
** NOVAVAX INC, $8.125, +7.19 pct
** MEDICINES CO, $28.11, +0.75 pct
Citigroup starts coverage of Esperion, Jazz and Novavax with a “buy” rating, and Medicines Co with a “neutral” rating.
** BLACKBERRY LTD, $9.4999, +2.15 pct
The Canadian smartphone maker posted a surprise quarterly profit on Friday and said it is pushing to end a slide in its revenue in this fiscal year.
** OXFORD INDUSTRIES INC, $70.99, +19.29 pct
The apparel retailer raised its full-year earnings forecast and said it would pursue the sale of Ben Sherman business, its smallest revenue contributor.
** REXX ENERGY CORP, $3.9, -7.36 pct
** MAGNUM HUNTER RESOURCES CORP, $2.6, -5.80 pct
** HALCON RESOURCES CORP, $1.7, -4.49 pct
** EXCO RESOURCES, $1.9, -3.06 pct
Shares of oil and gas producers were down after oil prices fell more than $1 per barrel on Friday as worries receded over threat of disruptions to Middle East supplies due to Saudi Arabia-led air strikes in Yemen.
** ARCELORMITTAL SA, $9.56, -4.40 pct
Citigroup downgrades the company’s Europe-listed stock from “neutral” to “sell”, which is now the lowest among 31 brokerages. Citi cut its 2015 EBITDA forecast for the company to $5.8 billion, which is 15 percent below analysts’ average estimate.
** YAHOO INC, $45.099, +1.41 pct
The company said its board approved an additional $2 billion share buyback plan, effective through March 31, 2018. $726 million is still available under the existing repurchase program, Yahoo said.
** BUILDERS FIRSTSOURCE INC, $6.45, +4.37 pct
The U.S. supplier of residential building products is in discussions to acquire peer ProBuild Holdings Inc for about $1.5 billion, including debt, three people familiar with the matter said on Thursday.
** CNOOC LTD, $141.75, +5.15 pct
China’s top offshore oil producer said on Friday its 2014 net profit rose 6.5 percent, beating forecasts, as cost cuts and higher output helped it offset the slide in global oil prices. (Compiled By Manya Venkatesh in Bengaluru; Edited by Maju Samuel)