BUZZ-U.S. STOCKS ON THE MOVE-Twitter, IntelliPharmaCeutics, KB Home

Fri Jun 19, 2015 11:00am 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, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks turned lower after a mixed opening on Friday, a day after Wall Street rallied and the Nasdaq Composite index broke its last standing milestone from the dot-com era as it set a record intraday high. The Dow Jones industrial average was down 0.13 percent at 18,092.95 and the S&P 500 was down 0.11 percent at 2,118.98.

** CONAGRA FOODS INC, $42.65, +9.02 pct

Activist hedge fund Jana Partners LLC took up a 7.2 percent stake; became ConAgra's second-largest shareholder. Jana said it is prepared to nominate directors to help address "persistent underperformance" since ConAgra bought RalCorp in 2013. "(Jana) could accelerate the anticipated change that investors are expecting following the appointment of a new CEO," Bernstein analyst Alexia Howard wrote in a note on Friday, raising price target to $44 from $37.

** TWITTER INC, $36.1, +4.15 pct

Dick Costolo's decision to step down as Twitter chief executive last week failed to stem the weeks-long slide in the company's shares, but options traders appear to be betting on a near-term rebound.

** TEKMIRA PHARMACEUTICALS CORP, $13.91, -7.39 pct

The drugmaker said a mid-stage study hit statistical endpoint that indicated continuing enrollment not likely to demonstrate an overall therapeutic benefit. The company said data analysis is ongoing and the full results will be made available as soon as possible. Early data on the drug, TKM-Ebola-Guinea, showed it cured all three monkeys intentionally infected with the deadly virus.   Continued...