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Sept 11 Some U.S. stocks on the move on
FUTURES DIP MODESTLY AFTER SIX-DAY RALLY
U.S. stock index futures edged lower, as the S&P 500
appeared set to pause after six straight days of gains, after
President Barack Obama pledged to explore Russia's diplomatic
plan to remove chemical weapons from Syria. S&P 500 futures
and Dow Jones industrial average futures were
flat, while Nasdaq 100 futures lost 12.75 points.
** APPLE INC, $469.22, down 5 pct (9:59 a.m. ET)
The higher-than-expected price of Apple's new iPhone eased
worries about gross margins, while arousing concerns the company
was not being aggressive enough in its fight against Google
Inc's market-dominating Android operating system.
** CIRRUS LOGIC INC, $21.99, down 5 pct (10:03 a.m.
** QUALCOMM INC, $68.04, down 3 pct
Shares of Apple suppliers came under pressure due to
lukewarm response to the new plastic-backed iPhone 5C in China,
which turned out to be costlier than thought.
** HARVEST NATURAL RESOURCES INC, $5.29, up 27 pct
(9:58 a.m. ET)
The oil and natural gas producer said it was in exclusive
talks to sell itself to Argentina's Pluspetrol in a deal valued
at about $373 million including debt after struggling to fund
its exploration activities.
** OVASCIENCE INC, $9.86, down 31 pct (9:56 a.m.
The developer of infertility treatments said it plans to
suspend enrollment in a U.S. study testing its lead product
after regulators sought an application for the product's
** VENTRUS BIOSCIENCES INC, $3.17, up 23 pct (9:56
The drugmaker said its experimental cream for the treatment
of anal fissures was safe and well-tolerated in two dermal
safety studies. The drug, VEN307, is applied perianally to treat
pain related to fissure.
** POLYCOM INC, $10.64, up 7 pct (10:23 a.m. ET)
The videoconferencing company authorized the repurchase of
$400 million of its outstanding common stock. The company said
it expected to fund the program with $150 million in cash and a
new $250 million term loan.
** HIMAX TECHNOLOGIES INC, $9.04, up 7 pct (9:53
Brokerage Northland Securities Inc started coverage on the
Taiwanese chipmaker's stock with an "outperform" rating as it
believes the company will benefit from growth in the small and
medium display driver market, given the strength in smartphone
and tablet sales. Himax makes chips used in flat panel displays
and display drivers.
** COLDWATER CREEK INC, $2.10, down 23 pct (9:49
The women's apparel retailer's adjusted loss widened 18
percent in the second quarter as increased promotional activity
pressured margins but failed to stimulate sales.
** SYNNEX CORP, $56.77, up 18 pct (9:48 a.m. ET)
The hardware distributor will acquire IBM Corp's
worldwide customer care business process outsourcing operations
for $505 million.
** GLAXOSMITHKLINE PLC, $51.01, up 1 pct (9:48 a.m.
** THERAVANCE INC, $39.11, up 4 pct (9:52 a.m. ET)
A federal advisory panel recommended approval of
GlaxoSmithKline's new drug to treat chronic obstructive
pulmonary disease (COPD), but suggested the company be required
to conduct further safety studies once the drug is approved. GSK
is developing the product with Theravance.
** UMB FINANCIAL CORP, $53.98, down 3 pct (9:55
The financial services company priced the public offering of
3.9 million shares at $54 apiece, below the stock's Tuesday
close, to raise $210.6 million.
** XOOM CORP, $32.45, up 6 pct (9:54 a.m. ET)
The digital money transfer company priced a follow-on
offering at $30.50 per share, slightly below the stock's Tuesday
close. The company increased the size of the offering to 4.4
million shares from 3.7 million. About 3 million shares are
being offering by the company.
** US AIRWAYS GROUP, $17.69, down 2 pct (9:46 a.m.
US Airways defended its proposed merger with American
Airlines on Tuesday, arguing that the deal would create $500
million in savings to consumers annually by building a stronger
competitor to Delta Air Lines Inc and United Continental
** BLACKBERRY LTD, $10.68, down 2 pct (9:45 a.m.
Struggling smartphone maker BlackBerry cut several dozen
jobs from its U.S. sales team on Monday, the Wall Street Journal
reported, citing people familiar with the matter. The layoffs
are part of rolling job cuts that have been ongoing for several
** YINGLI GREEN ENERGY HOLDING CO, $6.07, up 3 pct
(9:43 a.m. ET)
The China-based solar panel maker said it would supply about
28 megawatt of solar panels to a Chinese utility.
(Compiled by Varun Aggarwal; Editing by Don Sebastian)