BUZZ-U.S. STOCKS ON THE MOVE-SunEdison, Time Warner, Fedex, gold miners
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U.S. stock indexes pared gains and turned negative on Friday as oil prices dipped below $33 per barrel, their lowest level in more than a decade. The Dow Jones industrial average was up 0.08 percent at 16,527.18, the S&P 500 was down 0.02 percent at 1,942.7 and the Nasdaq Composite was down 0.01 percent at 4,689.191.
** TIME WARNER INC, $72.9, +3.85 pct
Activist shareholders could push the media company to sell itself or spin off its lucrative HBO business, the New York Post reported. While the activist shareholders have not approached Time Warner officially, New York-based firm Corvex Management is planning a move, the New York Post reported, citing sources familiar with the situation.
** AMERICAN EAGLE OUTFITTERS INC, $13.48, -15.11 pct
The teen apparel retailer reaffirmed its profit forecast of $0.40-$0.42 per share for the fourth quarter, below the average analyst estimate of $0.43. The company said its comparable sales increased 4 percent so far in the fourth quarter.