BUZZ-U.S. STOCKS ON THE MOVE-VeriFone, Gevo, Hydrogenics, Skullcandy
(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks opened slightly higher on Wednesday as energy stocks continued to benefit from higher oil prices. The Dow Jones industrial average was up 0.41 percent at 18,010.97, the S&P 500 was up 0.31 percent at 2,118.6 and the Nasdaq Composite was up 0.24 percent at 4,973.472.
** VERIFONE SYSTEMS INC, $19.79, -29.90 pct
At least five brokers downgraded the credit card swipe machine maker's stock after the company said it intends to reduce headcount and conduct a strategic review to address underperforming businesses. The company also posted a second-quarter profit below analysts' expectations and reduced its full-year forecast.
** FLEXION THERAPEUTICS INC, $14.59, -9.32 pct
The specialty pharmaceutical company announced a follow-on offering of $60 million of common stock on Tuesday. Bookrunners Wells Fargo, Royal Bank of Canada and Bank of Montreal are marketing shares in the range of $13.75-$14.25, at a discount of 11.4-14.5 percent to the stock's last sale.
** LENDINGCLUB CORP, $4.33, -1.37 pct Continued...