(Adds AOL, Ebix, Infinera, HHGREGG, Minerva, NQ Mobile; Updates Cytrx) (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 fell on Tuesday in choppy trading, extending losses a day after Wall Street suffered its biggest drop since early October as data showed the pace of growth in the U.S. economy had slowed. The Dow Jones industrial average was down 0.76 percent at 17,368.59, the S&P 500 was down 0.78 percent at 2,004.83 and the Nasdaq Composite was down 9.25 points, or 0.2 percent, to 4,643.32.
** BOEING CO, $127.76, -1.00 pct
The aircraft maker said it delivered 195 commercial airplanes in the fourth quarter and 723 planes in the whole of 2014. Boeing had delivered 186 planes in the third quarter.
** AOL INC, $46.24, +3.35 pct
The digital media company was approached by Verizon Communications Inc about potential acquisition or joint venture to expand its mobile-video offerings, Bloomberg reported. Verizon has not made a formal proposal to AOL, and no agreement is imminent, Bloomberg added, citing people who asked not to be named.
** NEURODERM LTD, $15.03, +10.11 pct
Brokerage Oppenheimer raised its price target to $19 from $18 on the drug developer’s stock to reflect higher chances of the company’s Parkinson’s disease drug being successful in later studies. NeuroDerm on Dec. 30 announced positive mid-stage study data of the drug.
** EBIX INC, $18.505, +13.67 pct
The insurance software maker reached resolution with Internal Revenue Service with respect to its audit of Ebix’s income tax returns for the taxable years 2008 through 2012.
** NQ MOBILE INC, $4.39, +6.30 pct
The Chinese mobile-security software maker said Chairman Vincent Wenyong Shi and other management members bought ADSs worth about $991,000 on Monday at an average price of $4.14 per ADS. NQ’s senior management planned to buy a total $4 million worth of ADSs in the open market.
** INFINERA CORP, $13.23, -7.61 pct
Goldman Sachs removed the network gear maker’s stock from its “conviction buy” list and Needham & Co downgraded the stock to “hold”. “Infinera will not likely win meaningful market share in the metro market until late CY16 in our view and we think this will be the focus of spending in CY15,” a Needham analyst wrote.
** HHGREGG INC, $6.45, -11.03 pct
The electronics and furniture retailer withdrew its full-year EBITDA forecast due to non-cash pre-tax charges and uncertain market conditions. The company said third-quarter net sales and comparable store sales dropped about 6 percent.
“The computer and tablet industry continues to be negatively impacted by declining consumer demand,” CEO Dennis May said.
** MINERVA NEUROSCIENCES INC, $7.61, +26.83 pct
The drug developer said on Monday that an analog of its experimental compound showed improvements in treating symptoms of Parkinson’s disease in primates. The stock was the top percentage gainer on the Nasdaq.
** CYTRX CORP, $3.19, +11.93 pct
The biotechnology company said interim data showed its experimental brain cancer drug was effective in preventing the progression of tumors and even shrunk them. The company’s shares were among the top percentage gainers and the most actively traded on the Nasdaq.
** COMBIMATRIX CORP, $1.57, +19.85 pct
A U.S. court issued a tentative ruling in favor of the medical test-maker and other defendants, and against all claims of plaintiffs in insurance benefit case. The court determined that the company and other defendants had no fraudulent intent when they pursued insurance benefits under the National Union D&O Policy over a decade ago.
** FRONTLINE LTD, $3.09, +20.70 pct
The Crude tanker company expected continued high demand and solid freight rates, boosted by a drop in oil prices and increased contango driven storage, CEO Robert Hvide Macleod said. Rising demand and low prices for oil have sent freight rates for very large crude carriers up 100 percent since mid-October to around $55,000-$60,000 per day.
** TONIX PHARMACEUTICALS HOLDING CORP, $7.25, +23.93 pct
The drug developer said U.S. FDA accepted 30 percent reduction in pain as the main goal of a late-stage study of drug to treat fibromyalgia. Tonix’s lead drug, TNX-102 SL, reduced pain by at least 30 percent in a mid-stage study on Sept. 29.
** AGNICO EAGLE MINES LTD, $29.15, +6.19 pct
** ANGLOGOLD ASHANTI LTD, $9.54, +4.03 pct
** AURICO GOLD INC, $8.83, +8.34 pct
** GOLDCORP INC, $20.3, +7.69 pct
** HARMONY GOLD MINING CO LTD, $2.315, +9.72 pct
** KINROSS GOLD CORP, $3.26, +10.51 pct
** NEWMONT MINING CORP, $20.213, +3.87 pct
** PRETIUM RESOURCES INC, $6.88, +4.24 pct
** PRIMERO MINING CORP, $4.29, +6.19 pct
** ROYAL GOLD INC, $66.77, +1.40 pct
** SEABRIDGE GOLD INC, $8.83, +8.34 pct
** SIBANYE GOLD LTD, $8.29, +6.83 pct
** YAMANA GOLD INC, $4.42, +9.95 pct
** FIRST MAJESTIC SILVER CORP, $6.03, +8.84 pct
Gold prices hit three-week highs on sliding oil prices and concerns over Greece’s exit from the euro zone.
** MICHAEL KORS HOLDINGS LTD, $66.8, -8.49 pct
** KATE SPADE & CO, $29.03, -6.11 pct
Handbag and accessories maker Michael Kors’ stock fell as much as 7 percent to its one-and-a-half-year low of $67.88. Credit Suisse downgraded it to “neutral” from “outperform” and cut its price target to $79 from $103, citing higher promotions for the company’s handbags.
Shares of smaller rival Kate Spade were also down.
** DELHAIZE GROUP SA, $18.36, +4.79 pct
BAML upgraded Belgium-based Delhaize’s stock to “buy” from “hold” on an improved outlook for the supermarket chain’s U.S. arm.
BAML said the valuations were attractive, and the company’s shares were trading at a 25 percent discount to its peers’, despite an exposure to a stronger dollar. Impact from Belgian labor action was well-flagged and priced in to the shares.
** AMERICAN AIRLINES GROUP INC, $53.556, -0.59 pct
** HAWAIIAN HOLDINGS INC, $24.3, -3.15 pct
** DELTA AIR LINES INC, $47.16, -2.48 pct
American Airlines and Hawaiian Airlines formally launched bids Monday to wrest control of a key slot in Tokyo’s Haneda Airport from Delta as part of a fight among the carriers to stake out a greater presence in Asia.
** ASTRAZENECA PLC, $68.07, -2.56 pct
Drugmaker AstraZeneca has appointed a new leader for its all-important immuno-oncology drug development operation after the departure of the previous head for personal reasons, the British-based drugmaker said on Monday.
** CEMPRA INC, $22.68, -7.62 pct
The antibiotic developer said it intends to sell common stock worth $100 million in public offering. Cempra scheduled to price offering on Wednesday, bookrunning manager told IFR. The company has market value of about $880 million.
** CERUS CORP, $5.965, -9.21 pct
The biomedical product maker plans public offering of common stock, but gives no details on the size. Issue to be priced after markets close Tuesday, IFR confirms with bookrunning manager.
** CYBERONICS INC, $54.67, -5.40 pct
Centers for Medicare & Medicaid Services (CMS) will not cover the medical technology company’s implanted device for treatment-resistant depression. CMS will allow coverage of maintenance services for patients who began using device before 2007.
** DISH NETWORK CORP, $68.05, -3.39 pct
The No. 2 U.S. satellite TV on Monday took the wraps off its long-anticipated video streaming service, named Sling TV, targeted at younger consumers who shun pricey cable and satellite subscriptions.
** CLEVELAND BIOLABS INC, $0.3147, +3.86 pct
The drug developer said interim analysis of early-stage oral administration trial shows its cancer drug, code named Curaxin CBL0137, was well-tolerated at various dose levels. (Compiled by Lehar Maan; Editing by Joyjeet Das)