(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 to session lows in early afternoon trading on Wednesday as the outcome of the negotiations between Greece and its international creditors remained up in the air. The Dow Jones industrial average was down 0.67 percent at 18,022.69, the S&P 500 was down 0.47 percent at 2,114.32 and the Nasdaq Composite was down 0.42 percent at 5,138.31.
** NETFLIX INC, $685.2502, +0.60 pct
** APPLE INC, $128.98, +1.54 pct
Carl Icahn tweets saying he is exiting last of Netflix stake, adding he sees Apple presenting the same opportunity that Netflix offered several years ago. Netflix approved a 7-for-1 stock split Tuesday.
** FORD MOTOR CO, $15.53, +1.57 pct
** GENERAL MOTORS CO, $35.29, -2.78 pct
** AUTOLIV INC, $119.55, -2.79 pct
** TESLA MOTORS INC, $265.025, -0.99 pct
** FIAT CHRYSLER AUTOMOBILES NV, $15.49, -1.90 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.
** FORTINET INC, $41.6599, -3.59 pct
** FIREEYE INC, $50.99, -3.48 pct
** VASCO DATA SECURITY INTERNATIONAL INC, $32.84, -3.67 pct
** PALO ALTO NETWORKS INC, $180.66, -0.70 pct
Fortinet stock falls after brokerages Citigroup and Baird downgrade.
Other security stocks also down in sympathy with Fortinet, Piper Jaffray analyst Andrew Nowinski said.
** TRANSITION THERAPEUTICS INC, $2.38, -73.82 pct
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.
** LOCAL CORP, $0.0699, -74.97 pct
The advertising services provider filed for Chapter 11 bankruptcy protection.
** MEETME INC, $1.825, +26.74 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.
** EVOKE PHARMA INC, $5.873, +20.84 pct
The drug developer said positive data evaluating its drug to treat delayed gastric emptying was published in a journal.
** CELATOR PHARMACEUTICALS INC, $2.728, +21.79 pct
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.
** ALCOBRA LTD, $7, -16.57 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..
** ALDER BIOPHARMACEUTICALS INC, $50.45, +6.05 pct
Credit Suisse assumed coverage, maintained “outperform” rating and a $50 price target. The company’s migraine drug has potential to be best-in-class asset given its strong efficacy and long duration, according to a Credit Suisse analyst.
** PAREXEL INTERNATIONAL CORP, $67.54, -6.93 pct
The contract drug research firm on Tuesday cut Q4 profit and revenue forecast and said it plans 850 job cuts as part of a restructuring plan, and will take a restructuring-related charge of $20-$30 million in Q4 and about $15 million in FY 2016, the company said ahead of its investor day.
** GEOSPACE TECHNOLOGIES CORP, $25.32, +9.09 pct
The company’s shares rose for a reason which is unclear. Chief Executive Walter Wheeler told Reuters he met investors at an energy conference the day before but did not provide news he would have expected to inspire such a boost.
** BOX INC, $18.55, +5.70 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.
** INPHI CORP, $24.69, -5.37 pct
Northland Capital Markets downgraded the chipmaker’s shares to “market perform” from “outperform”, according to Streetinsider.com.
** PEABODY ENERGY CORP, $2.49, -8.46 pct
The coal miner will be replaced on the S&P 400 Midcap index after June 30 close by Cable One Inc, the cable service business Graham Holdings Co is spinning off.
** DELHAIZE GROUP SA, $22.75, -7.33 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, $13.78, +6.78 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.
Compiled by Anya George Tharakan; Editing by Sriraj Kalluvila