MARKET PULSE-Solar stocks, Saks, Intersil, Synta Pharma, Spherix

Mon Jul 29, 2013 11:45am EDT
 
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(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, r.reuters.com/ref99t)

July 29 (Reuters) - Some U.S. stocks on the move on Monday:

WALL ST OPENS LOWER, ENERGY AND MATERIALS WEIGH

U.S. stocks dipped on Monday as a week packed with data and central bank meetings got under way, with the S&P 500 within a few points of its record close set a week ago. The Dow Jones industrial average fell 39.54 points, or 0.25 percent, the S&P 500 lost 4.67 points, or 0.28 percent, and the Nasdaq Composite dropped 3.58 points, or 0.1 percent.

** SYNTA PHARMACEUTICALS CORP, $5.87, up 16 pct (0946 ET)

The biopharmaceutical company said a proof-of-concept study on its drug candidate ganetespib as a treatment for breast cancer has met its goal. Preliminary data showed the study could now be expanded and taken to its next stage, the company said.

Roth Capital Partners, which raised its price target on the stock to $20 from $18, said Synta remained attractive based primarily on the promise of ganetespib in several oncology indications.   Continued...