March 29, 2016 / 6:02 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-SunEdison, Alexza, ContraVir, Gevo, Invitae

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U.S. stocks swung into positive territory on Tuesday after Federal Reserve Chair Janet Yellen said the central bank should proceed “cautiously” on raising interest rates. The Dow Jones industrial average was up 0.29 percent at 17,585.81, the S&P 500 was up 0.49 percent at 2,047.06.

** SUNEDISON INC, $0.621, -50.71 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, $0.5087, -27.33 pct

The company says if it is unable to source additional capital, it may be forced to shut down operations altogether.


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, $5.0899, +11.87 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, $0.286, -37.83 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.

** CONCORDIA HEALTHCARE CORP, $22.58, -10.11 pct

The drug developer denies media report its auditor PricewaterhouseCoopers ‘looking closely at 4Q’.

** INVITAE CORP, $10.3, +14.70 pct

The genetic test maker says it expanded its genetic testing offering with hundreds of additional genes and expanded panels for neurology, pediatrics and rare diseases.

** HEALTHSTREAM INC, $21.67, +10.22 pct

FBR Capital starts covering the stock with “outperform” rating. “While earnings are likely to be about flat this year, we believe the shares are attractive given the company’s long-term growth model, which we believe is sustainable,” FBR’s Steven Halper writes.

** PUMA BIOTECHNOLOGY INC, $27.24, -22.99 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, $37.62, -8.80 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, $12.05, -23.00 pct

The household goods retailer reports lower-than-expected Q4 profit, hurt by higher costs.

** OHR PHARMACEUTICAL INC, $3.2708, +14.76 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, $4.6, -9.98 pct

The molecular diagnostic company fired CEO Antonius Schuh and CFO Stephen Zaniboni and filed complaint for breach of fiduciary duty.


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, $10.5, +8.36 pct

The company names Taiwanese electronics maker Pegatron Corp as non-exclusive partner to license Energous’ wireless charging technology.

** CLECO CORP, $55.17, +13.03 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, $1.06, -10.18 pct

The drug developer provides positive mid-stage data on its lead drug in patients with relapsed or refractory acute myeloid leukemia.

** AMBARELLA INC, $44.05, +8.20 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, $12.57, +11.93 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, $457.5, -3.75 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)

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