BUZZ-U.S. Stocks on the Move-ZS Pharma, Insmed, Adobe, Nimble Storage

Wed Jun 18, 2014 1:56pm EDT
 
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(For faster updates on individual market-movers, use search string "STXBZ US"; for more market insights, including options activity, ; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s)

U.S. stocks held near the unchanged mark on Wednesday, on the heels of a three-day winning streak for the S&P 500 index and ahead of a monetary policy announcement by the Federal Reserve. The Dow Jones industrial average was down 0.17 percent at 16,779.56 and the S&P 500 was down 0.08 percent at 1,940.48.

** ZS PHARMA INC, $27.19, +51.06 pct

The biopharmaceutical company's shares soared in their debut, valuing the company at about $514 million. ZS Pharma raised $90 million after its IPO of 5 million shares was priced at $18 per share, higher than the expected range of $15-$17

** INSMED INC, $17.113, +37.29 pct

U.S. FDA granted breakthrough therapy designation to the drug developer's experimental lung infection drug. The designation can accelerate review for drugs that show substantial benefit over available therapies.

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