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U.S. stock indexes edged higher in a thinly-traded session on Monday, as the market’s recent upward bias continued and put the Dow on track for an eighth straight daily advance. The Dow Jones industrial average was up 0.05 percent at 18,063.06, the S&P 500 was up 0.20 percent at 2,093.05 and the Nasdaq Composite was up 0.12 percent at 4,812.48.
** MANITOWOC CO INC, $22.82, +9.08 pct
Carl Icahn reported a 7.7 percent stake in the company, and became the second activist investor to push for the splitup of its crane and foodservice equipment businesses.
** COMSTOCK RESOURCES INC, $7.38, +8.21 pct
** MATADOR RESOURCES CO, $20.25, +4.38 pct
** PIONEER ENERGY SERVICES CORP, $5.76, +5.49 pct
** CHESAPEAKE ENERGY CORP, $20.035, +1.65 pct
Oil and gas producers’ shares gained after Brent rises to around $60 per barrel, supported by concerns about disruption to output from Libya.
** REPROS THERAPEUTICS INC, $9.375, +3.14 pct
A federal judge in Texas confirmed the drug developer’s rights on two patents related to its experimental testosterone drug, Androxal. Repros had sued New York urologist and fertility specialist Harry Fisch in August 2013 over his claims of co-inventorship of one patent and contribution to the second patent.
** IGNYTA INC, $6.76, +3.36 pct
The U.S. Food and Drug Administration granted an orphan drug status to the biotech company’s lead drug, entrectinib. The drug also received a rare pediatric disease designation, which can help Ignyta gain access to a priority review voucher. The priority voucher may be sold or transferred an unlimited number of times
** COEUR MINING INC, $4.99, -5.49 pct
** ALAMOS GOLD INC, $6.88, -4.44 pct
** KINROSS GOLD CORP, $2.675, -4.12 pct
** SILVER WHEATON CORP, $19.81, -2.51 pct
** FIRST MAJESTIC SILVER CORP, $4.7, -3.69 pct
Gold and silver miners’ shares were down as gold prices fell, giving up some of sharp short-covering gains in the previous session.
** GILEAD SCIENCES INC, $96.41, +2.79 pct
Morgan Stanley raised its rating on the Hepatitis C drug maker’s stock to “overweight” from “equal-weight”, saying concerns surrounding the pricing of AbbVie Inc’s newly-approved treatment should be viewed as an opportunity.
** AMBARELLA INC, $53.679, -4.04 pct
Needham cut its rating on the video-processing chip maker’s stock to “underperform” from “hold”, citing its lower gross margin forecast and expected slowdown in revenue growth for the second half of 2015.
** AMERICAN APPAREL INC, $1.05, -0.94 pct
The apparel retailer’s board has received a letter from British buyout firm Lion Capital, pushing it to explore strategic options include a sale, a source familiar with the situation said on Sunday. The letter also said that Lion Capital would nominate Lyndon Lea, one of its founders, to the clothing retailer’s board of directors to replace one of its previous designees, Gene Montesano. (Compiled by Manya Venkatesh in Bengaluru; Editing by Kirti Pandey)