December 22, 2016 / 3:25 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Micron, Weight Watchers, Renren

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U.S. stocks were lower in light trading on Thursday as a fall in Apple’s shares weighed.

The Dow Jones Industrial Average was down 0.09 percent at 19,924.99, the S&P 500 was down 0.15 percent at 2,261.7 and the Nasdaq Composite was down 0.18 percent at 5,461.372.

** MICRON TECHNOLOGY INC, $23.41, +13.75 pct

The chipmaker forecast current-quarter revenue and profit above estimates as a stabilizing PC market spurs demand and boosts prices of its memory chips.

** RED HAT INC, $69.75, -12.58 pct

The Linux OS distributor reported lower-than-expected quarterly revenue, prompting at least two brokerages to downgrade the stock.

** OVASCIENCE INC, $1.7001, -42.76 pct

The fertility treatment provider said it would slow commercial expansion of its fertility treatment Augment, citing insufficient near-term financial return.

** APPLE INC, $116.33, -0.62 pct

Nokia Corp said on Wednesday it had filed a number of lawsuits against the iPhone maker for violating 32 technology patents, striking back at the iPhone maker’s legal action targeting the one-time cellphone industry leader a day earlier.


The weight management company introduced new advertising campaign in the U.S. featuring Oprah Winfrey. Two new TV ads will air on Dec 26.


The oil and gas producer said it would sell all of its oil and gas assets in Gabon for $32 million to Singapore-based private company BW Energy Gabon.

** TOKAI PHARMACEUTICALS INC, $1.61, +59.41 pct

Tokai and privately held Otic Pharma Ltd announced that the two companies, together with Otic Pharma shareholders, entered into a definitive share purchase deal under which Otic Pharma shareholders would become majority owners of Tokai.

** HERMAN MILLER INC, $34.6, -2.54 pct

The furniture maker reported quarterly sales below analysts’ estimate on Wednesday, citing lower-than-expected orders.

** BED BATH & BEYOND INC, $43.31, -4.94 pct

The home furnishing retailer reported third-quarter profit well below analysts’ estimate, hurt by higher costs.

** RENREN INC, $1.73, +4.85 pct

Chinese social networking company said it formed a special committee to review the terms of a proposed spin-off of its new subsidiary.

** XOMA CORP, $5.64, +2.55 pct

The drug developer entered into two royalty interest acquisition agreements with Healthcare Royalty Partners II.


The Canadian drug developer announced a sale of 11.1 million shares in a $25 million bought deal financing. (Compiled by Sruthi Shankar in Bengaluru)

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