December 22, 2016 / 6:20 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Micron, Uranium Resources, Conagra

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U.S. stocks slipped in light trading on Thursday ahead of the holiday season, pulling the Dow Jones Industrial Average further away from 20,000, a level it has never breached.

The Dow Jones Industrial Average was down 0.14 percent at 19,914.47, the S&P 500 was down 0.27 percent at 2,259.09 and the Nasdaq Composite was down 0.50 percent at 5,444.3.

** MICRON TECHNOLOGY INC, $23.11, +12.29 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, $69.96, -12.32 pct

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

** OVASCIENCE INC, $1.4101, -52.52 pct

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

** APPLE INC, $115.93, -0.97 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 shipping company won arbitration against Brazilian mining major Vale International S.A. over a 20-year contract for an under-construction iron ore port in Nueva Palmira, Uruguay.

** URANIUM RESOURCES INC, $1.2622, +15.80 pct

Shares of the uranium producer rose after President-elect Donald Trump tweeted about expanding U.S. nuclear capabilities.


The company with partner Allergan announced mid-stage data involving two versions of their linaclotide drug, which is approved to treat irritable bowel syndrome with constipation.

** FLOTEK INDUSTRIES INC, $9.65, +3.21 pct

The company said MHA Petroleum Consultants confirmed in a letter that there was a significant increase in oil recovery per foot when it used a a Flotek additive.


H.C. Wainwright began coverage of the stock with a “buy” rating on the drug developer’s stock and a $14 price target.

** AAR CORP, $34.23, -8.87 pct

The aircraft maintenance providers’ quarterly revenue slipped 1.78 percent due to lower sales at its aviation services division.

** IMPRIMIS PHARMACEUTICALS INC, $2.3372, +16.28 pct

The company and FocusScript LLC launched Correct Compound program, which combines low-cost alternative compounded medications with a billing and claims management platform.

** CONAGRA BRANDS INC, $39.24, +3.26 pct

The maker of Chef Boyardee pasta and Orville Redenbacher’s popcorn reported a better-than-expected quarterly profit, helped by less discounting and lower costs.

** PRIMA BIOMED LTD, $0.74, +5.40 pct

The Australian biotech company said its breast cancer drug succeeded in a mid-stage trial.


The eye drug maker said the publicly funded National Health Service system would fund treatment of retinitis pigmentosa, a chronic hereditary eye disease characterized by black pigmentation and gradual degeneration of the retina, with Argus II bionic eye.

** CEMTREX INC, $5.5165, +14.69 pct

The air filtration equipment maker reported a 65 percent jump in fiscal 2016 revenue, boosted by acquisitions.

** CALAMP CORP, $14.77, -6.10 pct

The wireless device maker reported lower-than-expected quarterly products and services revenue, due to delays in two large international orders.

** TRINET GROUP, $26.4, +3.73 pct

Private company Atairos Group Inc said it would buy a stake of about 26 percent in human resources services provider Trinet from investment firm General Atlantic LLC, becoming the largest shareholder.


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, $1.3296, +31.64 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, $41.7024, -8.47 pct

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

** RENREN INC, $1.72, +4.24 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, $5.558, +1.05 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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