MARKET PULSE-Himax, BG Medicine, American Apparel, Varonis
(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks sharply trimmed gains by midday on Tuesday as many of the market's momentum stocks turned negative. The Dow Jones industrial average was up 0.77 percent at 16,401.59, the S&P 500 was up 0.53 percent at 1,867.28 and the Nasdaq Composite was up 0.31 percent at 4,239.601.
** HIMAX TECHNOLOGIES INC, $11.62, -13.15 pct
Analysts at BofA Merrill Lynch downgraded the chipmaker's stock to "under perform" from "buy," saying they were concerned that Himax's Liquid Crystal on Silicon (LCoS) display technology may not be progressing fast enough to achieve their estimates.
The analysts wrote that though the management was positive on LCoS, challenges such as applications, costs, power and technology suggested that growth could be more in 2015 or 2016 versus the second half of this year.
** BG MEDICINE INC, $2.24, +31.76 pct
The drugmaker said an analysis of data from three large trials of heart failure patients showed that elevations of a protein in the blood, measured by its diagnostic test, predicted patients who would have to be rehospitalized within 30 days of a hospital stay.
The results, published in the American Heart Journal, showed that patients with elevated levels of the protein were re-admitted at nearly three times the rate of patients without higher levels of the protein. Continued...