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U.S. stocks were flat on Tuesday, paring modest early losses and putting the S&P 500 back near record levels as optimism grew that a debt deal would be reached with Greece.
The Dow Jones industrial average was up 0.06 percent at 18,030.75, the S&P 500 was up 0.11 percent at 2,099.31 and the Nasdaq Composite was up 0.08 percent at 4,897.729.
** CELSUS THERAPEUTICS PLC, $1.17, -81.04 pct
The drug developer said a mid-stage study for a skin cream, the lead drug in company’s pipeline, did not meet the main goal.
** FANNIE MAE, $3.17, +15.27 pct
** FREDDIE MAC, $3.01, +16.22 pct
The stocks of the two U.S. mortgage financing giants rose for a second straight trading session after hedge fund titan William Ackman said on Thursday that Fannie Mae and Freddie Mac are a bet he likes a lot. Freddie Mac is scheduled to report fourth-quarter results this Thursday.
** VBL THERAPEUTICS INC, $5.164, -63.40 pct
Israeli company said it would stop developing its experimental inflammatory drug to fight ulcerative colitis and psoriasis.
** GOPRO INC, $49.4, +9.12 pct
Northland Capital Markets initiated coverage of the wearable camera maker’s shares with “outperform” and a $70 price target, saying the company has opportunity to broaden product appeal beyond sports enthusiasts.
“We believe that the killer application for its product is digital video curation on social media. A ‘Kodak Moment’ is usually not a specific moment, but an event and as such requires video capture”, analyst Gus Richard said.
** ROSETTA GENOMICS LTD, $5.06, +38.63 pct
The Israeli molecular diagnostic company said it received a U.S. patent covering a core element of its technology to develop cancer therapeutics, relating to cancers associated with p53 gene.
** SIGNAL GENETICS INC, $2.86, -26.85 pct
The cancer test maker said it will offer 3.2 million shares at $2.80 per share, a discount of 28 pct to stock’s Friday close.
** BOX INC, $19.55, -3.12 pct
Brokerages were cautious on the data storage provider’s stock, with at least seven starting coverage with “hold” or equivalent rating. We ... believe Box’s valuation is too high for us to rate the shares ‘Buy’”, Canaccord Genuity analysts said.
** ONCOLYTICS BIOTECH INC, $0.71, +38.37 pct
The U.S. Food and drug Administration gave the Canadian biotech’s lead product, Reolysin, to treat pancreatic cancer was given orphan drug designation. The FDA grants the status to products that treat rare diseases, providing incentives to sponsors developing drugs or biologics.
** KANDI TECHNOLOGIES, $14.195, +15.31 pct
The Chinese electric vehicle maker said it received a letter from the U. S. Securities and Exchange Commission staff saying they would not recommend any enforcement action against the company after an investigation.
** SUPERCONDUCTOR TECHNOLOGIES INC, $2.184, -20.00 pct
The maker of superconducting materials used in wireless communication equipment signed warrant exercise agreements with certain holders of outstanding warrants to purchase 916,857 shares of common stock.
** EAGLE PHARMACEUTICALS INC, $25.225, +20.23 pct
The drugmaker inked exclusive license agreement with Teva Pharmaceuticals Industries Ltd , for its leukemia drug.
** CAMPUS CREST COMMUNITIES INC, $7.78, +10.98 pct
The company, which owns and manages student housing properties, said it would explore a “broad range of strategic, operational and financial alternatives” and that it had “received multiple inquiries from number of qualified parties that expressed interest in discussing a potential transaction with Campus Crest”.
Wunderlich raised its rating on the company’s tock to “buy” from “hold” and increased its target price to $8.25 from $7.50.
** MAGNEGAS CORP, $0.85, +18.04 pct
The company, which has a patented process to convert liquid waste into hydrogen-based fuels, said one of the five largest U.S. electric utilities has approved its MagneGas2 fuel to replace acetylene at their power and repair facilities. The product roll-out period will occur over the next several months.
** WALTER ENERGY INC, $1.01, -7.34 pct
The U.S. coal miner reported a bigger-than-expected quarterly loss as it sold less metallurgical coal after suspending mining operations in Canada.
** REAL GOODS SOLAR, $0.2821, -27.67 pct
The solar company estimated a Q4 net loss of $16 million compared with $3 million last year, hurt by an impairment charge of $11 million related to its Sunetric business, a solar company it acquired last May. The company said it would not meet the required standards to continue its listing on the Nasdaq in absence of positive net worth after recording the impairment charge.
**HELIX ENERGY SOLUTIONS GROUP INC, $16.2, -15.09 pct
The provider of rigs and services to offshore drillers’ earnings and revenue fell short of Wall Street’s estimates, due to mechanical problems on one of its vessels and early termination of work for another.
** VIPSHOP HOLDINGS LTD, $24.79, +13.72 pct
The online discount retailer forecasts first-quarter revenue above analysts’ average estimate. Vipshop reported better-than-expected fourth-quarter profit and revenue as total orders and the number of active customers both doubled.
** RESTAURANT BRANDS INTERNATIONAL INC, $42.6, +9.96 pct
The restaurant chain, formed out of Burger King’s takeover of Canadian coffee and doughnut chain Tim Hortons last year, posted higher quarterly sales growth at both brands, but posted a net loss due to one-time costs related to the merger.
** NATIONAL BANK OF GREECE SA, $1.58, -1.86 pct
The Greek lender’s shares fell after talks between Greece and European partners over country’s debt crisis collapsed, raising doubts about Greece’s future in the currency bloc.
** SAREPTA THERAPEUTICS, $14.56, +14.11 pct
Bank of America Merrill Lynch raised its rating on the cell therapy developer’s stock to “buy” from “neutral”, citing its increasing conviction in the U.S. approval of its experimental muscle disorder drug, eteplirsen. The brokerage raised probability of U.S. approval to 50 pct from 40 pct, and hikes price target to $21 from $19.
** CYREN LTD, $3.0299, +7.06 pct
The Israeli cyber security software company said ALSO Deutschland GmbH agreed to distribute its cloud-based web security product. The CYREN WebSecurity product helps to protect devices and data regardless of type or location.
** CABLEVISION SYSTEMS CORP, $19.52, -5.24 pct
UBS cut its rating on the media company’s stock to “sell” from “neutral”. Cablevision is a logical candidate for industry consolidation, but Comcast’s purchase of CVC appears very unlikely in the near to medium term given the opposition to the Comcast-TWC deal”, analyst John Hodulik said.
** MEDTRONIC PLC, $77.99, +3.63 pct
The medical device maker reported a better-than-expected third-quarter profit, driven by solid growth in its cardiac and vascular business.
** HARMONY GOLD MINING CO LTD, $2.45, -7.20 pct
** DRDGOLD LTD, $2.13, -6.17 pct
** GOLD FIELDS LTD, $4.42, -8.49 pct
** ANGLOGOLD ASHANTI LTD, $11.83, -4.06 pct
** PRIMERO MINING CORP, $3.23, -3.58 pct
** ENDEAVOUR SILVER CORP, $2.33, -6.05 pct
** COEUR MINING INC, $6.94, -4.54 pct
** FORTUNA SILVER MINES INC, $4.32, -5.26 pct
Shares of gold and silver miner’s dip after prices of the precious metals fell to one-month lows on signs that Greek banks will continue to get emergency funding despite a breakdown in debt talks between their government and euro zone partners.
** CELLCOM ISRAEL LTD, $6.12, +6.99 pct
The Israeli company signed a 3-year deal between employees and the Isreali labor union Histadrut. The estimated cost of the agreement is about 200 million shekels ($52 million) before tax, of which about 30 million shekels are one time payments in the first quarter.
** STARWOOD HOTELS & RESORTS WORLDWIDE INC, $81.09, +3.23 pct
The hotel operator said Chief Executive Frits van Paasschen had stepped down, a week after the company announced the spinoff of its timeshare business.
** MSA SAFETY INC, $50.29, +8.13 pct
The safety equipment maker reported better-than-expected fourth-quarter profit and revenue, helped by higher orders for its large fixed gas and flame detection equipment.
** PIONEER ENERGY SERVICES, $6.41, +11.67 pct
The oil and gas driller’s fourth-quarter revenue rose 19 percent, helped by higher drilling activity in Colombia. The company said it expects to sell 15 additional mechanical rigs and three 750-1,000 horsepower electric rigs by end of first quarter.
** AGIOS PHARMACEUTICALS INC, $113.5, -4.26 pct
The drug developer posted a bigger-than-expected fourth-quarter loss due to higher operating expenses.
** GULFMARK OFFSHORE INC, $17.24, -10.44 pct
The offshore rig contractor forecasts first quarter and full year revenue lower than analysts’ average estimates. The company expects demand to fall throughout 2015, with more new-build vessels to be delivered into an already young, large and technologically advanced vessel fleet.
** MEDALLION FINANCIAL CORP, $10.73, +8.17 pct
The business development company’s fourth-quarter earnings rose to $8.13 million from $6.66 million a year earlier. Total assets managed rose 13 percent to $1.50 billion.
** SYKES ENTERPRISES INC, $22.63, -6.80 pct
The business process outsourcing company forecasts first quarter revenue below estimates, citing a stronger dollar.
** VANGUARD NATURAL RESOURCES LLC, $17.08, -5.58 pct
The oil producer cut its January cash distribution to $0.1175/unit from last month’s payment of $0.2. The company expects 2015 capital budget of about $113.5 million, excluding potential future acquisitions.
** GOODYEAR TIRE & RUBBER CO, $26.55, +2.47 pct
The tire maker reported a slightly better-than-expected quarterly profit, helped by lower rubber and oil prices.
** WASTE MANAGEMENT INC, $54.03, +5.34 pct
The waste management firm reported a better-than-expected Q4 profit due to cost cuts and the company’s board authorized $1 bln in share buybacks for 2015. (Compiled by Neha Dimri in Bengaluru; Editing by Savio D’Souza)