BUZZ-U.S. STOCKS ON THE MOVE-Yelp, Twitter, Panera, Calix, Mastercard
(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 little changed on Wednesday ahead of a statement from the U.S. Federal Reserve. The Dow Jones industrial average was up 0.11 percent at 17,648.8, the S&P 500 was up 0.07 percent at 2,094.63 and the Nasdaq Composite was down 0.09 percent at 5,084.437.
** CYTEC, $73.99, +26.72 pct
Belgian chemical group Solvay has agreed to buy U.S. peer Cytec for $5.5 billion, giving it a bigger presence in the lightweight materials business where demand from the aerospace industry is booming.
** YELP INC, $24.3, -27.48 pct
The operator of consumer review website reported a surprise loss and forecast revenue for the current quarter that fell far below market expectations. The company also reported its slowest revenue growth in 18 quarters in the three months ended June 30, and said Chairman Max Levchin would step down "to pursue other interests."
** TWITTER INC, $31.75, -13.11 pct Continued...