January 18, 2017 / 3:26 PM / in a year

BUZZ-U.S. STOCKS ON THE MOVE-Target, CoLucid, Jazz Pharma

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The Dow Jones Industrial Average was lower for the fourth straight trading day on Wednesday, while the S&P 500 and the Nasdaq were little changed, ahead of Federal Reserve Chair Janet Yellen’s speech.

The Dow Jones Industrial Average was down 0.07 percent at 19,812.05, the S&P 500 was up 0.07 percent at 2,269.55 and the Nasdaq Composite was up 0.22 percent at 5,550.878.

** TARGET CORP, $67.60, -4.71 pct

The retailer lowered its comparable store sales and earnings forecasts for the fourth quarter, citing “softer-than-expected” holiday sales due to, what the retailer called disappointing traffic and sales trends.

** COLUCID PHARMACEUTICALS INC, $46.28, +32.59 pct

** ELI LILLY AND CO, $77.18, +0.43 pct

Lilly said it would buy the migraine drug developer for about $960 million, bringing back into its fold a promising treatment for migraine, a large, under-treated market.

** GIGAMON INC, $32.10, -27.13 pct

The network traffic management software maker estimated its fourth-quarter revenue below its prior forecast, due to lower-than-expected product bookings in certain areas.

** JAZZ PHARMACEUTICALS PLC, $127.13, +10.00 pct

The U.S. FDA on Tuesday granted the drugmaker’s petition to not approve any generic version of its sleep disorder drug Xyrem without a labeling package insert related to drug-drug interaction (DDI) with divalproex sodium.

** APRICUS BIOSCIENCES INC, $2.98, +97.10 pct

The drug developer said its topical cream for treating erectile dysfunction received approval in Mexico.

** SHILOH INDUSTRIES INC, $9.20, +18.10 pct

The automobile components maker turned an adjusted profit in the fourth quarter as it benefited from a favorable product mix and operational efficiencies.

** REXX ENERGY CORP, $0.93, +24.16 pct

The oil producer’s two year plan involves halving its capex in 2017, boosting production, trimming its costs and reducing its leverage ratio.

** BENITEC BIOPHARMA LTD, $2.41, -19.67 pct

The European Commission granted an orphan drug designation to Australian drug developer’s experimental drug, BB-301, for the treatment of a rare muscle wasting disorder.

** GOLDMAN SACHS GROUP INC, $236.62, +0.37 pct

The bank reported a nearly four-fold rise in quarterly profit as it benefited, like other big banks, from a surge in trading following Donald Trump’s surprise win in November’s presidential election.

** ATYR PHARMA INC, $3.13, +27.55 pct

The drug developer said its lead treatment, Resolaris, received a Fast Track designation by the FDA for the treatment of limb girdle muscular dystrophy 2B, a genetic disease caused by a toxic loss of function in the dysferlin gene.

** CAMECO CORP, $11.29, -14.92 pct

The Canadian uranium producer on Tuesday said it expected its 2016 adjusted profit to be significantly lower than analysts’ estimates and also said it would cut 120 jobs at three of its uranium mines in 2017.

** NORDSTROM INC, $43.42, -2.16 pct

** JC PENNEY CO, $6.78, -2.31 pct

** KOHL’S CORP, $39.89, -3.60 pct

Brokerage Credit Suisse upgraded Nordstrom’s stock to “outperform” from “buy”, but downgraded JC Penney and Kohl’s to “underperform” from “neutral”.

** MERCANTILE BANK CORP, $32.99, -7.04 pct

Brokerage Raymond James downgraded the stock to “market perform” from “outperform”. (Compiled by Akankshita Mukhopadhyay in Bengaluru)

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