June 24, 2015 / 3:20 PM / in 3 years

BUZZ-U.S. STOCKS ON THE MOVE-Auto stocks, Evoke Pharma, Box, Netflix

(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 was mostly lower on Wednesday as investors waited for more clarity on the ongoing debt talks between Greece and its creditors even as data showed that the U.S. economy's first-quarter contraction was smaller than earlier thought. The Dow Jones industrial average was down 0.35 percent at 18,080.21, the S&P 500 was down 0.24 percent at 2,119.05 and the Nasdaq Composite was down 0.06 percent at 5,156.89.

** FORD MOTOR CO, $15.595, +1.99 pct

** GENERAL MOTORS CO, $35.46, -2.31 pct

** AUTOLIV INC, $120.3, -2.18 pct

** TESLA MOTORS INC, $265.57, -0.78 pct

** FIAT CHRYSLER AUTOMOBILES NV, $15.62, -1.08 pct

An analyst field trip to China, where auto sales are under pressure, spurred a reshuffle of Goldman Sachs’ ratings, earnings forecasts and price targets across regions.

The brokerage upgraded Ford to “buy” while General Motors was stripped of its “buy” rating. U.S.-listed Autoliv was cut to “sell”.

Demand for Tesla cars, which do not still qualify for subsidies in China, remains healthy, GS said, with wait times running at about 3-4 months.

** EVOKE PHARMA INC, $5.89, +21.19 pct

The drug developer said positive data evaluating its drug to treat delayed gastric emptying was published in a journal.

** NETFLIX INC, $689.5, +1.22 pct

The online video streaming service said on Tuesday its board of directors approved a seven-for-one stock split.

The split will be in the form of a stock dividend of six additional shares for each outstanding share.

Shares trimmed some of their gains after billionaire activist investor Carl Icahn said on Wednesday that his firm had sold the remainder of its stake in Netflix.


The drug developer said a mid-stage study of its experimental neuropshychiatric drug, ELND005, did not meet the main goal of significant reduction in agitation and aggression.

** STAPLES INC, $16.09, -2.48 pct

** OFFICE DEPOT INC, $8.9, -2.31 pct

Staples’ $6.3-billion acquisition of Office Depot less likely after a Federal judge blocked food service distributor Sysco Corp’s deal to buy US Foods Inc, NY Post reported.

** BOX INC, $18.93, +7.86 pct

The cloud storage company said it will boost its cloud platform with world’s largest technology services provider IBM Corp’s security and analytics offerings. Box enterprise customers will be able to store content on IBM’s cloud.


The drug developer said its experimental chemotherapy combination, CPX-351, showed relative improvement in response rate in patients with a form of blood cancer in a late-stage study.


The drugmaker said its experimental drug, vigabatrin, reduced involuntary movements and vocalizations called tics in patients with Tourette’s in an early study.

** MEETME INC, $1.78, +23.61 pct

The social game and app maker raised second-quarter revenue and adjusted EBITDA forecast on progress in transitioning management of advertising inventory in-house earlier this month.

** ALCOBRA LTD, $7.52, -10.37 pct

The Israel-based drug developer said its drug failed in a mid-stage trial to treat a type of genetic disorder that could cause autism and attention deficit hyperactivity disorder..

** LOCAL CORP, $0.0772, -72.36 pct

The advertising services provider filed for Chapter 11 bankruptcy protection.

** LENNAR CORP, $50.79, +3.65 pct

The No.2 U.S. homebuilder by sales reported a 33 percent rise in quarterly profit as it sold more homes at higher prices and said orders rose 17.6 percent.

** DELHAIZE GROUP SA, $22.86, -6.88 pct

Dutch-based supermarkets operator Ahold has reached a deal to buy Belgian peer Delhaize, the companies announced on Wednesday, in a move that will create the sixth-largest food retailer in the United States and the biggest in Europe’s Benelux region.

** VANDA PHARMACEUTICALS INC, $13.595, +5.35 pct

The drugmaker said on Tuesday that Fanapt prevented relapse in adult schizophrenic patients in a study. The study showed that 76 percent patients given the drug remained relapse-free, compared with 36 percent on placebo.


The diagnostics company said it got a research grant from National Institutes of Health to develop a fast blood test for the Enterobacteriaceae superbug, which infects the urinary tract, blood, and wounds.

Compiled by Anya George Tharakan; Editing by Sriraj Kalluvila

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