4 Min Read
(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 lower on Friday after data showed a stronger-than-expected rise in core inflation in April, suggesting the Federal Reserve would remain on course to hike interest rates later this year. The Dow Jones industrial average was down 0.06 percent at 18,274.29 and the S&P 500 was up 0.01 percent at 2,131.
** HEWLETT-PACKARD CO, $35.57, +5.14 pct
HP will sell a controlling 51 percent stake in its China-based data-networking business to China's Tsinghua Unigroup for at least $2.3 billion, forming a partnership designed to create a Chinese technology powerhouse.
** EXPEDIA INC, $110.85, +4.68 pct
** ELONG INC, $24.5, +18.64 pct
** CTRIP.COM INTERNATIONAL LTD, $80.775, +12.20 pct
Expedia said it sold its entire stake in Chinese online travel company eLong to rival Ctrip.com and others for about $671 million.
** OTONOMY INC, $23.6295, -23.90 pct
The company said its experimental drug did not meet the main goal of reducing the incidence of vertigo in a mid-stage trial in patients suffering from Ménière's disease.
** VIGGLE INC, $2.5455, -17.62 pct
The web-based entertainment and marketing services provider announces a public offering of common shares. The size of the offering was not disclosed.
** AEROPOSTALE INC, $2.22, -14.29 pct
The teen apparel retailer sees bigger current-quarter loss than average analyst estimate, citing higher store closure costs, supply delays due to disruptions at West Coast ports. The company expects second quarter gross margins to fall in low-to-mid-single digit percentage.
** SAREPTA THERAPEUTICS INC, $26.05, +7.38 pct
WBB Securities analyst Stephen Brozak raises his price target on the biotech's stock to $35 in a note titled "Not all NDAs are Equal-Sarepta Files Rolling NDA for Eteplirsen".
The company said on Tuesday it would initiate a rolling new drug application (NDA) submission for eteplirsen, being developed to treat Duchenne muscular dystrophy - a progressive muscle wasting disorder.
** NEOSTEM INC, $2.87, -2.71 pct
The cancer drug developer receives a $17.7 million grant from the California Institute for Regenerative Medicine to develop its treatment for a severe form of skin cancer. The drug, NBS20, is being tested in a late-stage study.
** CHARTER COMMUNICATIONS INC, $179.66, +0.57 pct
** TIME WARNER CABLE INC, $171.83, +3.81 pct
Charter is in talks with Time Warner Cable about a bid that is likely to be well above the $170 per share expected by some analysts, the Wall Street Journal reported, citing people familiar with the matter.
** BLACKBERRY LTD, $10.445, +1.70 pct
The Canadian smartphone maker said it plans to buy back 12 million shares.
** NEOPHOTONICS CORP, $7.37, +1.66 pct
The chipmaker announces pricing its 6-million share public follow-on offering at $7.25. Top holder Oak Investment Partners had indicated interest in buying up to $2 million of offering shares, according to the most recent filing.
** CAMPBELL SOUP CO, $48, +2.28 pct
The packaged foods maker reported a better-than-expected quarterly profit, helped by lower promotions, higher selling prices and cost cuts. (Compiled by Kshitiz Goliya in Bengaluru; Edited by Maju Samuel)