BUZZ-U.S. STOCKS ON THE MOVE-Sarepta, Dupont, Ironwood, Pioneer Natural
(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) Wall Street pared early gains and was little changed in late morning trading on Tuesday, weighed down by quarterly results of Dow components 3M and Procter & Gamble. The Dow Jones industrial average was down 0.02 percent at 17,972.83, the S&P 500 was up 0.09 percent at 2,089.7 and the Nasdaq Composite was down 0.14 percent at 4,889.089.
** SAREPTA THERAPEUTICS INC, $11.15, -25.42 pct
An experimental drug, from Sarepta, to treat Duchenne muscular dystrophy, a devastating degenerative disease that mostly affects boys, has not been proven effective, a U.S. advisory panel concluded on Monday. Oppenheimer cuts stock to "perform" from "outperform", Suntrust Robinson to "reduce" from "neutral", Piper Jaffray cuts to "underweight".
** IRONWOOD PHARMACEUTICALS INC, $9.99, -7.88 pct
British drugmaker AstraZeneca Plc said on Tuesday Ironwood Pharmaceuticals would buy the U.S. marketing rights for its newly approved gout drug for up to $265 million.
** ARATANA THERAPEUTICS INC, $7.11, +2.89 pct
The pet drug developer said Eli Lilly and Co unit Elanco Animal Health was licensed rights to its galliprant tablets, an FDA-approved therapeutic for the control of pain and inflammation associated with osteoarthritis in dogs.
** T-MOBILE US INC, $39.8, -3.35 pct Continued...