BUZZ-U.S. STOCKS ON THE MOVE-KaloBios, Pandora, Avon, Accenture
(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 were down slightly in early trading on Thursday, a day after the Federal Reserve raised interest rates for the first time in almost a decade. The Dow Jones industrial average was down 0.48 percent at 17,664.77, the S&P 500 was down 0.57 percent at 2,061.21 and the Nasdaq Composite was down 0.21 percent at 5,060.337.
** KALOBIOS PHARMACEUTICALS INC, $0, +0.00 pct
** RETROPHIN INC, $21.56, +0.98 pct
KaloBios shares were halted after CEO Martin Shkreli was arrested by the FBI after a federal investigation involving his former hedge fund and a pharmaceutical company he previously headed. The securities fraud probe of Shkreli, who is now chief executive officer of Turing Pharmaceuticals and KaloBios, stems from his time as manager of hedge fund MSMB Capital Management and CEO of biopharmaceutical company Retrophin, a person familiar with the matter said.
KaloBios shares fell more than 50 percent premarket.
** PANDORA MEDIA INC, $15.25, +13.47 pct
A U.S. Copyright Royalty Board raised music royalty rates that Pandora and other Internet radio stations would have to pay. Continued...