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Wall Street swung into positive territory on Tuesday after U.S. Federal Reserve Chair Janet Yellen said it was appropriate for the Fed to proceed “cautiously” in raising interest rates. The Dow Jones industrial average was up 0.31 percent at 17,589.73, the S&P 500 was up 0.37 percent at 2,044.55.
** SUNEDISON INC, $0.5703, -54.74 pct
The U.S. solar energy company, whose aggressive acquisition strategy has saddled it with almost $12 billion of debt, is at “substantial risk” of bankruptcy, one of its two publicly listed units warned on Tuesday.
** ALEXZA PHARMACEUTICALS INC, $0.5011, -28.41 pct
The company says if it is unable to source additional capital, it may be forced to shut down operations altogether.
** CONTRAVIR PHARMACEUTICALS INC, $1.86, +24.83 pct
The company says preclinical data showed its hepatitis B drug, CMX157, compared favorably to Gilead Sciences Inc’s tenofovir alafenamide fumarate (TAF).
** KERYX BIOPHARMACEUTICALS INC, $5.18, +13.85 pct
The drug developer on Tuesday said its drug to treat iron deficiency anemia in chronic kidney disease patients not yet requiring dialysis met the goals of a late stage clinical trial, potentially paving the way for an expanded approval of the treatment.
** GEVO INC, $0.2853, -37.98 pct
The chemical and biofuel maker’s Q4 revenue fell 23 pct to $7.3 mln, hurt by lower ethanol prices. The company also announced pricing of offering of 10.3 million units to raise about $3.5 million.
** PUMA BIOTECHNOLOGY INC, $26.94, -23.83 pct
The cancer drug developer said on Monday it was delaying filing application for breast cancer drug, neratinib, to mid-2016 from earlier plan of Q1. At least three brokerages cut PT.
** MEDIVATION INC, $37.38, -9.38 pct
The U.S. lawmakers call on government agencies to step in and reduce the cost of Medivation and Astellas Pharma’s prostate cancer drug Xtandi. Lawmakers, including Democratic U.S. presidential candidate Bernie Sanders, point to higher price for Xtandi in United States compared to other countries.
** CONN’S INC, $11.96, -23.58 pct
The household goods retailer reports lower-than-expected Q4 profit, hurt by higher costs.
** OHR PHARMACEUTICAL INC, $3.299, +15.75 pct
The eye drug developer says it began two late-stage trials for its squalamine eye drops, being evaluated for use in ‘wet’ age-related macular degeneration, after reaching agreement with U.S. FDA on late-stage trial design.
** TROVAGENE INC, $4.43, -13.31 pct
The molecular diagnostic company fired CEO Antonius Schuh and CFO Stephen Zaniboni and filed complaint for breach of fiduciary duty.
** DESTINATION MATERNITY CORP, $7.035, -19.51 pct
The maternity apparel retailer reports fall in Q4 net sales, hurt by 3.5 pct drop in comp sales and unseasonably warm weather.
** ENERGOUS CORP, $10.89, +12.38 pct
The company names Taiwanese electronics maker Pegatron Corp as non-exclusive partner to license Energous’ wireless charging technology.
** CLECO CORP, $55.19, +13.07 pct
The Louisiana electricity supplier said on Monday that it has got approval from the state’s public service commission to sell itself to an investor group led by Macquarie Infrastructure and Real Assets.
** BIOLINERX LTD, $1.0677, -9.53 pct
The drug developer provides positive mid-stage data on its lead drug in patients with relapsed or refractory acute myeloid leukemia.
** AMBARELLA INC, $43.5501, +6.98 pct
Morgan Stanley upgrades stock rating to “overweight” from “equal-weight”. Ambarella forecast Q1 revenue below market estimates this month, hurt by weak demand from top customer GoPro Inc.
** AMAYA INC, $12.7994, +13.98 pct
Canadian gambling website operator’s Chief Executive David Baazov was taking an indefinite paid leave of absence, the company said, a week after Baazov was charged with insider trading by Quebec’s securities regulator.
** CHIPOTLE MEXICAN GRILL INC, $456, -4.06 pct
Wedbush Securities cuts rating on the burrito chain operator to “underperform” from “neutral”. “We believe a sales recovery by 2018 is the best-case scenario, not the basecase scenario,” Wedbush analyst Nick Setyan writes in note. (Compiled by Rosmi Shaji in Bengaluru; Edited by Shounak Dasgupta)