BUZZ-U.S. STOCKS ON THE MOVE-Echo, Flotek, GE, Gevo, IBM
(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 were mixed on Tuesday, with the Dow industrials pulled down by a handful of uninspiring earnings reports, while the Nasdaq was pushed higher by a proposed biotech merger. The Dow Jones industrial average was down 0.34 PCT at 17,974.14, the S&P 500 was down 0.04 PCT at 2,099.55 and the Nasdaq Composite was up 23.28 points, or 0.47 percent, to 5,017.88.
** RAMBUS INC, $14.19, +11.12 pct
The memory chip and security product maker reported a first-quarter profit above analysts' average estimate late on Monday, helped by a new license agreement with IBM Corp. At least three brokerages raised their price targets on the stock.
** ADVAXIS INC, $21.38, +6.90 pct
The drug developer said a pre-clinical study of its cancer drug, ADXS-HPV, in combination with antibody drugs, prevented tumor growth and prolonged survival rate in tumor-bearing mice. Another study testing its cancer drug, ADXS-HER2, in dogs with a serious type of bone cancer, showed that the drug delayed tumor progression and prolonged overall survival rate when used with pain relief radiation therapy.
** CELESTICA INC, $11.93, +3.74 pct Continued...