BUZZ-U.S. STOCKS ON THE MOVE-VeriFone, Gevo, Hydrogenics, Skullcandy

Wed Jun 8, 2016 9:48am EDT
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(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter,; for the Morning News Call newsletter, 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...