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U.S. stocks edged lower on Tuesday, with the S&P 500 pulling back from record levels as investors continued to grapple with the uncertainty over a Greek debt deal and a fragile Ukraine truce.
The Dow Jones industrial average was down 0.20 percent at 17,983.33, the S&P 500 was down 0.14 percent at 2,094.13 and the Nasdaq Composite was down 0.07 percent at 4,890.364.
** CELSUS THERAPEUTICS PLC, $1.2, -80.55 pct
The drug developer said a mid-stage study for a skin cream, the lead drug in company’s pipeline, did not meet the main goal.
** VBL THERAPEUTICS INC, $5.898, -58.20 pct
Israeli company said it would stop developing its experimental inflammatory drug to fight ulcerative colitis and psoriasis.
** ROSETTA GENOMICS LTD, $5.34, +46.30 pct
The Israeli molecular diagnostic company said it received a U.S. patent covering a core element of its technology to develop cancer therapeutics, relating to cancers associated with p53 gene.
** BOX INC, $19.28, -4.46 pct
Brokerages were cautious on the data storage provider’s stock, with at least seven starting coverage with ”hold“ or equivalent rating. We ... believe Box’s valuation is too high for us to rate the shares ‘Buy’”, Canaccord Genuity analysts said.
** ONCOLYTICS BIOTECH INC, $0.668, +30.19 pct
The U.S. Food and drug Administration gave the Canadian biotech’s lead product, Reolysin, to treat pancreatic cancer was given orphan drug designation. The FDA grants the status to products that treat rare diseases, providing incentives to sponsors developing drugs or biologics.
** KANDI TECHNOLOGIES, $14.17, +15.11 pct
The Chinese electric vehicle maker said it received a letter from the U. S. Securities and Exchange Commission staff saying they would not recommend any enforcement action against the company after an investigation.
** SUPERCONDUCTOR TECHNOLOGIES INC, $2.14, -21.61 pct
The maker of superconducting materials used in wireless communication equipment signed warrant exercise agreements with certain holders of outstanding warrants to purchase 916,857 shares of common stock.
** EAGLE PHARMACEUTICALS INC, $23.97, +14.25 pct
The drugmaker inked exclusive license agreement with Teva Pharmaceuticals Industries Ltd , for its leukemia drug.
** CAMPUS CREST COMMUNITIES INC, $7.74, +10.41 pct
The company, which owns and manages student housing properties, said it would explore a “broad range of strategic, operational and financial alternatives” and that it had “received multiple inquiries from number of qualified parties that expressed interest in discussing a potential transaction with Campus Crest”.
Wunderlich raised its rating on the company’s tock to “buy” from “hold” and increased its target price to $8.25 from $7.50.
** MAGNEGAS CORP, $0.8601, +19.44 pct
The company, which has a patented process to convert liquid waste into hydrogen-based fuels, said one of the five largest U.S. electric utilities has approved its MagneGas2 fuel to replace acetylene at their power and repair facilities. The product roll-out period will occur over the next several months.
** WALTER ENERGY INC, $1.01, -7.34 pct
The U.S. coal miner reported a bigger-than-expected quarterly loss as it sold less metallurgical coal after suspending mining operations in Canada.
** REAL GOODS SOLAR, $0.2848, -26.97 pct
The solar company estimated a Q4 net loss of $16 million compared with $3 million last year, hurt by an impairment charge of $11 million related to its Sunetric business, a solar company it acquired last May. The company said it would not meet the required standards to continue its listing on the Nasdaq in absence of positive net worth after recording the impairment charge.
**HELIX ENERGY SOLUTIONS GROUP INC, $16.26, -14.78 pct
The provider of rigs and services to offshore drillers’ earnings and revenue fell short of Wall Street’s estimates, due to mechanical problems on one of its vessels and early termination of work for another.
** VIPSHOP HOLDINGS LTD, $24.48, +12.29 pct
The online discount retailer forecasts first-quarter revenue above analysts’ average estimate. Vipshop reported better-than-expected fourth-quarter profit and revenue as total orders and the number of active customers both doubled.
** RESTAURANT BRANDS INTERNATIONAL INC, $41.99, +8.39 pct
The restaurant chain, formed out of Burger King’s takeover of Canadian coffee and doughnut chain Tim Hortons last year, posted higher quarterly sales growth at both brands, but posted a net loss due to one-time costs related to the merger.
** NATIONAL BANK OF GREECE SA, $1.465, -9.01 pct
The Greek lender’s shares fell after talks between Greece and European partners over country’s debt crisis collapsed, raising doubts about Greece’s future in the currency bloc.
** SAREPTA THERAPEUTICS, $14.24, +11.60 pct
Bank of America Merrill Lynch raised its rating on the cell therapy developer’s stock to “buy” from “neutral”, citing its increasing conviction in the U.S. approval of its experimental muscle disorder drug, eteplirsen. The brokerage raised probability of U.S. approval to 50 pct from 40 pct, and hikes price target to $21 from $19.
** CYREN LTD, $3.03, +7.07 pct
The Israeli cyber security software company said ALSO Deutschland GmbH agreed to distribute its cloud-based web security product. The CYREN WebSecurity product helps to protect devices and data regardless of type or location.
** VASCO DATA SECURITY INTERNATIONAL INC, $27.185, -2.42 pct
The data security products and software maker reported fourth-quarter revenue, profit above analysts’ estimates, helped by higher demand for security products from the banking industry.
** INTERCONTINENTAL HOTELS, $39.01, -3.30 pct
The company, one of the world’s largest hoteliers, posted broadly in-line full-year results. But its London-listed shares were heading for their biggest one-day fall since late 2011 and analysts cite stretched valuations as the main catalyst.
** CABLEVISION SYSTEMS CORP, $19.56, -5.05 pct
UBS cut its rating on the media company’s stock to “sell” from “neutral”.
** MEDTRONIC PLC, $77.6, +3.11 pct
The medical device maker reported a better-than-expected quarterly profit, helped mainly by increased sales in its cardiac and vascular business, its largest.
** HARMONY GOLD MINING CO LTD, $2.46, -6.82 pct
** DRDGOLD LTD, $2.14, -5.73 pct
** GOLD FIELDS LTD, $4.49, -7.04 pct
** ANGLOGOLD ASHANTI LTD, $11.92, -3.33 pct
** PRIMERO MINING CORP, $3.28, -2.09 pct
** ENDEAVOUR SILVER CORP, $2.34, -5.65 pct
** COEUR MINING INC, $6.97, -4.13 pct
** FORTUNA SILVER MINES INC, $4.36, -4.39 pct
Shares of gold and silver miner’s dip after prices of the precious metals fell to one-month lows on signs that Greek banks will continue to get emergency funding despite a breakdown in debt talks between their government and euro zone partners.
** CELLCOM ISRAEL LTD, $6.09, +6.47 pct
The Israeli company signed a 3-year deal between employees and the Isreali labor union Histadrut. The estimated cost of the agreement is about 200 million shekels ($52 million) before tax, of which about 30 million shekels are one time payments in the first quarter.
** RENTECH INC, $1.36, +7.94 pct
The nitrogen fertilizer maker got $63-million additional loan commitment from Blackstone’s GSO Capital Partners. The company said it has taken steps to cut its projected consolidated cash operating costs and expenses by about $15 million in 2015.
** STARWOOD HOTELS & RESORTS WORLDWIDE INC, $80.88, +2.97 pct
The hotel operator said Chief Executive Frits van Paasschen had resigned by mutual agreement, a week after the hotel operator announced the spinoff of its timeshare business.
** MAGNUM HUNTER RESOURCES CORP, $2.59, -1.15 pct
The oil and gas producer set a $100 million upstream capital budget for 2015, compared with $400 million planned for 2014. The company expects capital budget to be funded through internally-generated cash, borrowings under existing senior revolving credit facility, proceeds from asset sales and some anticipated strategic initiatives.
** VANGUARD NATURAL RESOURCES LLC, $16.9101, -6.52 pct
The oil producer cut its January cash distribution to $0.1175/unit from last month’s payment of $0.2. The company expects 2015 capital budget of about $113.5 million, excluding potential future acquisitions.
** GOODYEAR TIRE & RUBBER CO, $26.48, +2.20 pct
The tire maker’s adjusted fourth-quarter profit beat the average analyst estimate as lower rubber costs offset weak sales in North America and Europe, the company’s biggest markets.
** WASTE MANAGEMENT INC, $53.74, +4.78 pct
The waste management firm reported a better-than-expected Q4 profit due to cost cuts and the company’s board authorized $1 bln in share buybacks for 2015.
** MICRON TECHNOLOGY INC, $32.56, +2.23 pct
Jefferies & Co raised its price target on the chip maker’s shares to $45 from $42, while RBC Capital Markets raised to $44 from $42.
** ZAYO GROUP HOLDINGS INC, $28.42, -2.77 pct
Macquarie Equities Research cut its rating on the stock to “underperform” and lowered its price target by $1 to $25, citing weak bookings for two consecutive quarters at the provider of fiber-based networking and connectivity services to telecomsprovider.
** SIGNAL GENETICS INC, Trading halted
Trading in the diagnostic company’s shares were halted at about 8:34 a.m. ET. The stock had been up 15 percent at $4.50 in premarket trading before being halted. The stock had more than doubled on Friday. (Compiled by Neha Dimri in Bengaluru; Editing by Savio D‘Souza)