September 1, 2015 / 3:06 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Trevena, Netflix, Axion, Dollar Tree

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter,; for the Morning News Call newsletter, Wall Street opened lower on Tuesday after China's weak factory data heightened fears of a slowdown in the world's second-largest economy. The Dow Jones industrial average was down 2.35 percent at 16,139.19, the S&P 500 was down 2.26 percent at 1,927.7 and the Nasdaq Composite was down 1.88 percent at 4,686.76.

** TREVENA INC, $8.98, +49.67 pct

The drug developer said on Monday its experimental painkiller met main goal of reducing post-operative pain compared with placebo in a mid-stage study.

Wedbush Securities raises price target to $20 from $15, Cowen & Co increase by $1 to $14.

** NETFLIX INC, $107.49, -6.55 pct

Iphone maker Apple Inc is looking to move into the original programming business to compete with video streaming companies such as Netflix Inc, Variety reported on Monday.


The lead-carbon battery maker said it received a notification from Nasdaq that it fell short of the minimum $2.5 mln stockholders’ equity for continued listing

** DOLLAR TREE INC, $70.17, -7.99 pct

The discount retailer’s quarterly sales rose less than analysts expected as it focused on closing the acquisition of Family Dollar Stores Inc amid intense competition from retailers such as Wal-Mart Stores Inc.

** FREEPORT-MCMORAN INC, $9.865, -7.28 pct

Analysts at Citi Research cut rating on stock to “neutral” from “buy” and cut price target to $12 from $20, saying copper miners were not cutting enough production to stabilise falling prices.

** PENN WEST PETROLEUM LTD, $0.7151, -7.13 pct

The Canadian oil and gas producer said it would lay off about 35 percent of its workforce and suspend its dividend as it copes with a slump in crude oil prices.

** FIAT CHRYSLER AUTOMOBILES, $13.7, -3.04 pct

The company is offering $100 prepaid debit cards to owners of recalled vehicles to help ensure cars and trucks with potential safety defects get repaired. (Compiled by Amrutha Penumudi in Bengaluru; Edited by Don Sebastian)

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