November 28, 2016 / 3:12 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Time Inc, Cognizant, Recro Pharma, PhaseRX

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U.S. stocks were lower on Monday, weighed down by financial and consumer discretionary stocks, as some investors cashed in after a record-setting week.

The Dow Jones Industrial Average was down 0.24 percent at 19,105.85, the S&P 500 was down 0.23 percent at 2,208.28 and the Nasdaq Composite was down 0.22 percent at 5,386.833.

** TIME INC, $15.90, +16.86 pct

The publisher of People and Fortune magazines has rejected a takeover bid from billionaire investor Edgar Bronfman Jr., the New York Post reported.


Activist investor Elliott Management Corp disclosed a more than 4 percent stake in the IT services provider and urged the company to take steps to boost shareholder value.

** RECRO PHARMA INC, $9.66, +24.48 pct

The drug developer said its postoperative pain treatment, IV meloxicam, met the main goal of lowering intensity of pain from tummy tuck surgery in the second late-stage trial.

** PHASERX INC, $2.2705, +100.93 pct

The drug developer received orphan drug designation from the U.S. Food and Drug Administration for PRX-OTC, its treatment for a rare liver disorder diagnosed in children.

** IDERA PHARMACEUTICALS INC, $1.90, +3.83 pct

The drugmaker signed an agreement with Vivelix Pharmaceuticals Ltd, granting the company worldwide rights to develop and market IMO-9200, a treatment for digestive tract disorders.

** MEDIGUS LTD, $0.98, +1.03 pct

The Israeli medical device maker posted a smaller third-quarter operating loss.

** BOS BETTER ONLINE SOLUTIONS, $1.98, -14.60 pct

The electronic equipment distributor company, based in Israel, reported a quarterly loss due to higher costs related to its Next-Line business, which provides inventory counting services.

** FANG HOLDINGS LTD, $3.275, -4.52 pct

The Chinese property website operator reported lower-than-expected third-quarter revenue and cut its revenue forecast for the full year.

** FIRST MAJESTIC SILVER CORP, $8.39, +1.08 pct

** HARMONY GOLD MINING CO LTD, $2.34, +3.08 pct

** ANGLOGOLD ASHANTI LTD, $11.16, +2.57 pct

** BARRICK GOLD CORP, $14.96, +1.49 pct

U.S.-listed stocks of gold miners were up as gold rose over 1 percent, recovering from near 10-month lows, as the U.S. dollar extended losses after touching a near 14-year high last week.


Privately held Silverback Exploration LLC will sell oil and gas assets in the Delaware Basin, Texas, for $855 million to Centennial Resource Development Inc, which is backed by energy private equity fund Riverstone Holdings LLC.

Compiled by John Benny in Bengaluru; Edited by Martina D'Couto

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