October 1, 2014 / 6:34 PM / in 4 years

BUZZ-U.S. Stocks on the Move-NY Times, Ardelyx, Tekmira, Acuity

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for more market insights, including options activity, ; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks fell on Wednesday, with investors spooked by the first diagnosis of Ebola in a patient in the United States, but the CBOE Volatility index pared back from earlier gains, suggesting further volatility may be limited. The Dow Jones industrial average was down 1.32 percent at 16,817.95 and the S&P 500 was down 1.17 percent at 1,949.16.

** TEKMIRA PHARMACEUTICAL CORP, $27.091, +28.15 pct


** SAREPTA THERAPEUTICS INC, $22.74, +7.77 pct

** NEWLINK GENETICS CORP, $23.6, +10.18 pct

** LAKELAND INDUSTRIES, $8.18, +17.70 pct

Shares of several pharmaceutical companies with potential Ebola treatments jumped after the U.S. Centers for Disease Control and Prevention confirmed on Tuesday the first case of the virus diagnosed in the country.

Shares of Lakeland Industries, which makes protective clothing for healthcare and first responders, also jumped.

** THE NEW YORK TIMES CO, $12.4, +10.52 pct

The publisher said it would cut jobs, including about 7.5 percent of newsroom positions, to lower costs as advertising revenue from its print business dwindles and new products fall short of expectations.

** ARDELYX INC, $19, +33.71 ct

The company said its experimental drug to treat constipation-related irritable bowel syndrome achieved the main goal of increasing bowel movement compared with a placebo in a mid-stage study involving 371 patients.

** ENTEGRA FINANCIAL CORP, $14.19, +3.20 pct

The bank holding company raised $65.5 million in a public offering of 6.5 million shares, priced at $10 per share.

** SPHERIX INC, $1.1401, -26.92 pct

The company, which buys and licenses technology patents, said a court hearing for its lawsuit against cordless telephone makers VTech Holdings Ltd and Uniden Corp has been rescheduled to Nov. 10 from Oct. 2. Spherix sued the companies for patent infringement in September last year, after acquiring the related patents from Rockstar Consortium US LP.

** WESTPORT INNOVATIONS INC, $7.644, -27.27 pct

At least six brokerages cut their price targets on the Canadian auto parts maker’s stock, ranging between $5 and $20, after the company lowered its 2014 revenue forecast to $130-$140 million.

** ANGIE’S LIST INC, $7.44, +16.80 pct

The online review company is exploring a sale, the Financial Times reported. Northland Capital Markets raised its rating on the stock to “market perform” from “underperform”.

** GENERAL MOTORS CO, $32.43, +1.53 pct

The car maker said it expects in 2016 to return to profits in Europe in more than a decade and hit targeted North American operating margins that year. The company also said the Sept. vehicle sales rose 19 pct in the United States.

** PORTOLA PHARMACEUTICALS INC, $28.93, +14.44 pct

The drug developer said its experimental drug met main goal of reversing the effect of anti-clotting drugs in a late-stage study. Portola said the drug reversed the anti-clotting effect of Eliquis, made by Bristol-Myers Squibb Co and Pfizer Inc.

** ACUITY BRANDS INC, $130.96, +11.26 pct

The lighting company reported better-than-expected results for the fourth quarter, reflecting continued adoption of LED-based lighting products.


The baggage screening products maker on Tuesday estimated surprise net loss for quarter ended Sept. 30 and said delayed shipments already recorded in order backlog. CRT Capital on Wednesday cut its rating on stock to “sell” from “fair value” and price target to $40 from $60.

** HECLA MINING CO, $2.6, +4.84 pct

BB&T Capital Markets upgraded the silver miner’s stock to “buy” from “hold”, citing the company’s low-cost producer status, capital expenditure flexibility and ability to push down costs further.

** FRONTLINE LTD, $1.38, +9.52 pct

Frontline Management, which operates tanker company Frontline Ltd, enters into a chartering joint venture called VLCC Chartering Ltd with Tankers International LLC to increase joint fleet size and cut operating costs.

** FANNIE MAE $1.73, -35.69 pct

** FREDDIE MAC $1.68, -36.36 pct

Shares of Fannie Mae and Freddie Mac plummeted on Wednesday, the day after a judge upheld the U.S. Treasury’s right to seize the mortgage finance companies’ profits.

** SPIRIT AIRLINES INC, $66.83, -3.34 pct

** SOUTHWEST AIRLINES CO, $32.74, -3.05 pct

** ALLEGIANT TRAVEL CO, $121.72, -1.57 pct

** RYANAIR HOLDINGS PLC, $54.95, -2.62 pct

** ALASKA AIR GROUP INC, $43.07, -1.08 pct

** DELTA AIR LINES INC, $35.18, -2.68 pct

** JETBLUE AIRWAYS CORP, $10.365, -2.40 pct

** AMERICAN AIRLINES GROUP INC, $34.38, -3.10 pct


U.S. airline stocks fell on concerns that the spread of the Ebola virus could curb air travel, with several numbering among the biggest decliners on the S&P 500. The NYSE Arca Airline index was down 2.4 percent at $78.69 at 11.13 am ET.

** TRINITY INDUSTRIES INC, $43.59, -6.70 pct

** GREENBRIER COMPANIES INC, $66.47, -9.42 pct



** CSX CORP, $31.17, -2.78 pct

The proposed U.S. rules to make hauling crude oil safer wiped out about $1.6 billion off the market values of railcar companies on Wednesday.

Chart: link.reuters.com/ses92w

** VIVINT SOLAR INC, $16.72, +4.50 pct

Shares of the second-largest installer of residential solar panels in the United States rose as much as 9 percent in their market debut on the New York Stock Exchange, valuing the company at about $1.84 billion.

** RETROPHIN INC, $8.26, -8.43 pct

The drugmaker said it fired founder and Chief Executive Martin Shkreli effective immediately, the second top level change at the drugmaker this month.

** MECHEL OAO, $1.18, +4.42 pct

VTB Bank will drop a lawsuit against the Russian coal and steel producer if agreement over debt is reached, the Russian bank’s head Andrei Kostin said. VTB Bank filed a $77-million lawsuit against Mechel last week.


The Chinese advertising company said on Wednesday its stock price regained compliance with Nasdaq’s listing rule. The Nasdaq had sent a letter to ChinaNet in June as its stock failed to maintain closing bid price of $1 or above for 30 days, as required by exchange rules.

** PORTOLA PHARMACEUTICALS INC, $28.93, +14.44 pct

The company said its drug met the main goal of reversing the effect of anti-coagulant drugs in a late-stage study.

** REAL GOODS SOLAR INC, $1.52, -11.63 pct

The solar energy company said on Tuesday it would exit its large commercial business, which encompasses projects that are larger than 200 kilowatts, to focus on the residential and small commercial market.

** RCS CAPITAL CORP, $23.89, +6.08 pct

The investment firm said it will buy Cole Capital, the private capital management business of American Realty Capital Properties for $700 million. The company said the deal will add 51 cents per share to its projected 2015 adjusted income, excluding synergies.

** DORAL FINANCIAL CORP, $5.55, -16.42 pct

The company sold $42 million of residential and commercial loans, along with real estate, to Abbey Finance Holdings, it said in regulatory filing on Tuesday. The company said it expects loss of $20 million-$25 million on sale, subject to certain post-closing conditions.

** BABCOCK & WILCOX CO, $29.6, +6.90 pct

The clean energy technology company said it is considering separating its power generation business, and government and nuclear operations business into two publicly traded companies.

** AMERICAN APPAREL INC, $0.7727, -5.77 pct

The retailer’s board is increasingly open to letting its ousted founder, Dov Charney, stay at the company, Bloomberg reported, citing people familiar with the matter.


The drug maker’s treatment to control phosphorous levels in kidney disease patients, ferric citrate, received a new U.S. patent. The company said it is seeking additional patents to expand beyond 2030 the scope of patent claims covering ferric citrate.

** FORD MOTOR CO, $14.59, -1.35 pct

A federal appeals court rejected Ford’s bid to recoup about $450 million of interest from the U.S. government on taxes overpaid by the automaker.

** APACHE CORP, $91.55, -2.47 pct

The U.S. oil and gas company is looking to sell one third of its oil and gas production in the Texas panhandle and western Oklahoma, a deal that could fetch more than $2.5 billion, according to people familiar with the situation. (Compiled by Anannya Pramanick; Editing by Maju Samuel)

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