5 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) Wall Street was mostly lower on Wednesday as investors waited for more clarity on the ongoing debt talks between Greece and its creditors even as data showed that the U.S. economy's first-quarter contraction was smaller than earlier thought. The Dow Jones industrial average was down 0.35 percent at 18,081.01, the S&P 500 was down 0.25 percent at 2,118.92 and the Nasdaq Composite was down 0.15 percent at 5,152.47.
** NETFLIX INC, $690.428, +1.36 pct
** APPLE INC, $129.37, +1.84 pct
Carl Icahn tweets saying he is exiting last of Netflix stake, adding he sees Apple presenting the same opportunity that Netflix offered several years ago. Netflix approved a 7-for-1 stock split yesterday.
** FORD MOTOR CO, $15.6, +2.03 pct
** GENERAL MOTORS CO, $35.43, -2.40 pct
** AUTOLIV INC, $119.69, -2.68 pct
** TESLA MOTORS INC, $265.85, -0.68 pct
** FIAT CHRYSLER AUTOMOBILES NV, $15.55, -1.52 pct
An analyst field trip to China, where auto sales are under pressure, spurred a reshuffle of Goldman Sachs' ratings, earnings forecasts and price targets across regions.
The brokerage upgraded Ford to "buy" while General Motors was stripped of its "buy" rating. U.S.-listed Autoliv was cut to "sell".
Demand for Tesla cars, which do not still qualify for subsidies in China, remains healthy, GS said, with wait times running at about 3-4 months.
** MOLYCORP INC, $0.352, -7.37 pct
The rare earth miner said it postponed its annual stockholder's meeting from June 25 to second half of the year as it continues debt restructuring efforts.
** EVOKE PHARMA INC, $5.8899, +21.19 pct
The drug developer said positive data evaluating its drug to treat delayed gastric emptying was published in a journal.
** TRANSITION THERAPEUTICS INC, $2.53, -72.17 pct
The drug developer said a mid-stage study of its experimental neuropshychiatric drug, ELND005, did not meet the main goal of significant reduction in agitation and aggression.
** LOCAL CORP, $0.07, -74.94 pct
The advertising services provider filed for Chapter 11 bankruptcy protection.
** STAPLES INC, $16.1, -2.42 pct
** OFFICE DEPOT INC, $8.905, -2.25 pct
Staples' $6.3-billion acquisition of Office Depot less likely after a Federal judge blocked food service distributor Sysco Corp's deal to buy US Foods Inc, NY Post reported.
** BOX INC, $19.04, +8.49 pct
The cloud storage company said it will boost its cloud platform with world's largest technology services provider IBM Corp's security and analytics offerings. Box enterprise customers will be able to store content on IBM's cloud.
** CELATOR PHARMACEUTICALS INC, $2.78, +24.11 pct
The drug developer said its experimental chemotherapy combination, CPX-351, showed relative improvement in response rate in patients with a form of blood cancer in a late-stage study.
** CATALYST PHARMACEUTICALS INC, $4.24, +6.27 pct
The drugmaker said its experimental drug, vigabatrin, reduced involuntary movements and vocalizations called tics in patients with Tourette's in an early study.
** MEETME INC, $1.825, +26.74 pct
The social game and app maker raised second-quarter revenue and adjusted EBITDA forecast on progress in transitioning management of advertising inventory in-house earlier this month.
** ALCOBRA LTD, $7.5, -10.61 pct
The Israel-based drug developer said its drug failed in a mid-stage trial to treat a type of genetic disorder that could cause autism and attention deficit hyperactivity disorder..
** LENNAR CORP, $51.24, +4.57 pct
The No.2 U.S. homebuilder by sales reported a 33 percent rise in quarterly profit as it sold more homes at higher prices and said orders rose 17.6 percent.
** DELHAIZE GROUP SA, $22.75, -7.33 pct
Dutch-based supermarkets operator Ahold has reached a deal to buy Belgian peer Delhaize, the companies announced on Wednesday, in a move that will create the sixth-largest food retailer in the United States and the biggest in Europe's Benelux region.
** VANDA PHARMACEUTICALS INC, $13.6, +5.39 pct
The drugmaker said on Tuesday that Fanapt prevented relapse in adult schizophrenic patients in a study. The study showed that 76 percent patients given the drug remained relapse-free, compared with 36 percent on placebo.
** HELMERICH & PAYNE INC, $70.87, -2.84 pct
The U.S. onshore driller cuts Q3 forecast for average land rig revenue/day to $26,500 from $27,000 on Tuesday, hurt by reduced short-term dayrates in exchange for additional term duration.
** MCCORMICK & CO INC, $81.93, +2.08 pct
The flavor and seasoning products maker to buy Stubb's barbecue sauce maker One World Foods Inc for about $100 million in cash. Stubb's will beef up McCormick's grilling products, including its Grill Mates, Lawry's and McCormick brands.
Compiled by Anya George Tharakan; Editing by Sriraj Kalluvila