BUZZ-U.S. STOCKS ON THE MOVE-Cyren, SFX Entertainment, Sky-Mobi

Tue May 26, 2015 2:13pm EDT
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(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter,; for the Morning News Call newsletter, U.S. stocks recorded their steepest fall in three weeks in morning trading on Tuesday as positive economic data added to the gains in the dollar and sent it soaring to a one-month high. The Dow Jones industrial average was down 1.25 percent at 18,004.7, the S&P 500 was down 1.17 percent at 2,101.26 and the Nasdaq Composite was down 19.52 points, or 0.92 percent, at 2,106.54.

** GENERAL MOTORS CO, $35.55, -0.42 pct

The U.S. car maker said it will spend $1.2 billion to expand and upgrade the paint shop, body shop and general assembly area at its full-size truck plant in Fort Wayne, Indiana.

** SFX ENTERTAINMENT INC, $4.99, +21.12 pct

The music event organizer's chief executive raised offer to buy the company. CEO Robert Sillerman's new offer, valuing SFX at about $774 million, is higher than his Feb. 25 offer of $4.75. Sillerman owns about 37 percent of the company, which organizes the world's largest EDM festival, Tomorrowland.

** SKY-MOBI LTD, $4.09, -8.09 pct

The Chinese mobile phone app maker said second-quarter revenue would be hurt by new payment security policies adopted by three mobile carriers in China.   Continued...