August 19, 2013 / 2:36 PM / 4 years ago

MARKET PULSE-GTx, eFuture, Supernus, Edwards Group, Cobalt

Aug 19 (Reuters) - Some U.S. stocks on the move on Monday:


U.S. stocks were little changed, following the Dow industrials’ largest weekly drop in more than a year, as traders positioned for an expected move by the Federal Reserve to scale back its economic stimulus.

The Dow Jones industrial average fell 0.08 percent, the S&P 500 lost 0.05 percent and the Nasdaq Composite added 0.25 percent.

** GTX INC, $1.48, down 64 pct (9:57 a.m. ET)

GTx said its experimental drug to treat muscle wasting in cancer patients was not effective in improving body mass in late-stage trials.

** SUPERNUS PHARMACEUTICALS INC, $7.71, up 16 pct (10:08 a.m. ET)

The company said it received final approval from the U.S. Food and Drug Administration for its epilepsy drug, Trokendi XR. Supernus said it would launch the drug over the next few weeks.

** EDWARDS GROUP LTD, $9.94, up 18 pct (10:00 a.m. ET)

Swedish engineering group Atlas Copco said it was buying British industrial technology firm Edwards Group for up to $1.6 billion, an investment which should help it offset volatile swings in its mining business.

Atlas Copco said it would pay up to $10.50 per share for Edwards, including net debt, representing a 24 percent premium to Friday’s closing price.


The Chinese supply chain management software maker said it signed an agreement with Rainbow Department Store Co Ltd to launch a one-on-one engagement platform to enable easy access between sales clerks and their customers. The platform is called myStore.

The stock touched a year-high of $6.00 on Monday. It was trading more than six times its average 10-day volume and was the top gainer on the Nasdaq.

** COBALT INTERNATIONAL ENERGY INC, $25.26, down 14 pct (10:12 a.m. ET)

The company said it did not find oil of any commercial value at one of its deepwater wells in the Gulf of Mexico.

** TATA MOTORS LTD, $23.98, down 4.5 pct (10:02 a.m. ET)

** ICICI BANK LTD, $27.55, down 7 pct (10:03 a.m. ET)

** STERLITE INDUSTRIES (INDIA) LTD $4.88, down 2.6 pct (10:07 a.m. ET)

India’s NSE index fell nearly 2 percent on Monday to its lowest close in 11 months, as blue chips slumped after a record low rupee aided fears of foreign selling and more steps by the central bank to stem dollar outflows.

The benchmark BSE index fell 1.56 percent, or 290.66 points, to end at 18,307.52, adding to Friday’s 4 percent fall, marking its lowest close in nearly four months.

** ZILLOW INC, $86.89, down 5 pct (10:14 a.m. ET)

The real estate website said it would buy smaller peer StreetEasy for about $50 million in cash to tap into the home shopping market in New York.

The company also said it would start a public offering of 2.5 million shares of Class A common stock.

** BLACKBERRY LTD, $10.23, down 3 pct (9:38 a.m. ET)

Jefferies & Co cut its price target on U.S.-listed shares of the struggling smartphone maker to $15 from $18, saying pent up enterprise demand for BlackBerry 10 handsets could get pushed out until there is greater clarity on the company’s future.

BlackBerry is weighing options that could include an outright sale.

The brokerage, which also cut its handset shipment estimates, said the Q5 device, launched recently in Canada, got off to a slow start.

“The Q5 launch was less structured than the previous two devices,” analyst Peter Misek said in a note.

** JPMORGAN CHASE & CO, $52.55, down 1 pct (10:15 a.m. ET)

U.S. authorities have opened an investigation into whether JPMorgan Chase hired the children of powerful Chinese officials to help it win business in China, according to the New York Times. (Compiled by Neha Alawadhi in Bangalore; Editing by Maju Samuel)

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