June 30, 2014 / 6:34 PM / 4 years ago

BUZZ-U.S. Stocks on the Move- Dicerna Pharma, Palo Alto, MBIA

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for more market insights, including options activity, ; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s)

U.S. stocks barely moved on Monday after a set of mixed economic data, but the S&P 500 and Nasdaq Composite indexes were set to close a sixth straight quarter of gains - a streak not seen in more than 14 years. The Dow Jones industrial average fell 16.05 points, or 0.10 percent, to 16,835.79, the S&P 500 gained 1.15 points, or 0.06 percent, to 1,962.11 and the Nasdaq Composite added 15.24 points, or 0.35 percent, to 4,413.17.

** AMICUS THERAPEUTICS INC, $3.4875, +15.10 pct

The drugmaker said it is on track to report data from a late-stage trial of its genetic disorder drug in the third quarter of this year.

** MILLER ENERGY RESOURCES INC, $6.37, +16.45 pct

SunTrust Robinson Humphrey upgraded the oil and gas producer’s stock to “buy” from “neutral.”

With Alaska wells nearing completion, Miller’s production is expected to grow to about 8,000 barrels of oil equivalent per day (boe/d) around the end of next year from the current 5,000 boe/d, analysts wrote in a note and raised their price target to $10 from $8.

** ALLERGAN INC, $169.44, -2.59 pct

The botox maker, which is fighting off a hostile bid from Valeant Pharmaceuticals International Inc, said that The U.S. FDA raised issues about its application for Semprana, its new acute migraine aerosol. The health regulator approved Allergan’s Ozurdex, a treatment for diabetic macular edema

** ENZO BIOCHEM INC, $5.15, +5.10 pct

The diagnostics company was added to the Russell 2000 and Russell 3000 Indexes following reconstitution of Russell Investment Group’s family of US indexes

** PALO ALTO NETWORKS INC, $84.85, +4.48 pct

Morgan Stanley raised its price target on the cyber security software maker’s stock to $105 saying that the company is expected to sustain 30 percent plus billing growth, helped by product cycle rampup, improving margins and slowing capital expenditure.

** DICERNA PHARMACEUTICALS INC, $22.05, +17.04 pct

The drug developer said that preclinical data on its experimental liver disease drug showed positive results.

The animal trials showed that Dicerna’s drug blocked a gene that is found in patients with a rare inherited liver disorder called PH1

** AMERICAN APPAREL INC, $0.8885, -8.01 pct

The apparel maker has adopted a one-year shareholder rights plan to help its board of directors better protect its stockholders and ensure they are treated fairly, the company said on Saturday.

** MANNKIND CORP, $11.1101, +11.10 pct

The U.S. Food and Drug Administration said on Friday it has approved the drugmaker’s inhaled insulin, Afrezza, capping an arduous journey for the company and its octogenarian founder, Alfred Mann.

** BNY MELLON CORP, $37.41, +3.26 pct

Activist investor Nelson Peltz has built up a $1 billion stake in the world’s largest custody bank in what could lead to a shakeup over lagging stock performance and rising operating expenses at the bank.

** YAHOO INC, $35.23, +2.86 pct

Piper Jaffray upgraded the online search and advertising company’s shares to “overweight” from “neutral” saying that Yahoo’s stake in Alibaba Group Holding Ltd IPO-ALIB.N is undervalued.

“We expect that as we get nearer an Alibaba IPO, a more realistic valuation should be reflected in YHOO,” analyst Gene Munster wrote in a note as he raised the price target to $43 from $37.

** MBIA INC, $11, -4.26 pct

BTIG downgraded the bond insurer’s stock to “neutral” from “buy” citing uncertainty regarding impact of restructuring of debt of Puerto Rico Electric Power Authority (PREPA).

“MBI has $1.53 billion of insured exposure to PREPA’s debt as of March 31,” analysts Mark Palmer wrote in a note to investors.

** NETAPP INC, $36.5075, +2.90 pct

The data storage specialist’s shares could return to $50 in the coming year on solid cash flows and signs its revenues might grow again, Barron’s said in its latest edition published on Sunday.

** PPG INDUSTRIES INC, $210.13, +2.98 pct

Paints maker Consorcio Comex SA de CV agreed to be acquired by the chemicals maker for $2.3 billion, after the Mexican company’s deal with U.S. rival Sherwin-Williams Co fell through earlier this year.

** DEPOMED INC, $13.815, +4.42 pct

** TEXAS INDUSTRIES INC, $92.88, +0.36 pct

The specialty pharmaceutical company will replace Texas Industries in the S&P SmallCap 600 GICS pharmaceuticals sub-industry index after the close of trading on July 1.

** KINDRED HEALTHCARE INC, $22.76, -2.69 pct

** GENTIVA HEALTH SERVICES INC, $14.9825, -1.63 pct

** AMEDISYS INC, $16.9301, -3.03 pct

U.S. hospital operator Kindred said on Friday it was prepared to revise or withdraw its offer to buy Gentiva, after reports that the home healthcare services provider may be trying to buy rival Amedisys.

** BEBE STORES INC, $3.04, -3.49 pct

The women’s fashion retailer said on Friday it would exit its unprofitable “2b bebe” business, under which it sells affordable apparel and accessories, by July as part of a cost-cutting program.

** INTEROIL CORP, $64.32, +2.29 pct

The energy company has agreed to sell its Papua New Guinea oil refinery and petroleum products distribution business to Singapore-based Puma Energy Group for $526 million to focus on gas exploration.

Compiled by Avik Das in Bangalore; Editing by Sriraj Kalluvila

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below