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Sept 18 Some U.S. stocks on the move on
WALL STREET OPENS FLAT AHEAD OF FED DECISION
Stocks opened little changed on Wednesday, ahead of an
announcement by the Federal Reserve about the future of its
economic stimulus program. The Dow Jones industrial average
fell 20.05 points, or 0.13 percent, to 15,509.68, the S&P
500 lost 0.27 points, or 0.02 percent, to 1,704.49 and
the Nasdaq Composite added 4.306 points, or 0.11
percent, to 3,750.005.
** APPLE INC, $461.82, up 1 pct (9:44 a.m. ET)
The fingerprint reader on Apple's top-end iPhone 5S received
an early thumbs up for ease of use from two influential
reviewers, helping dispel concerns about the scanning technology
which has been notoriously unreliable in other cellphones.
** COGNIZANT TECHNOLOGY SOLUTIONS CORP, $82.37, up
2 pct (9:44 a.m. ET)
Brokerage Barclays Capital upgraded the IT services
provider's stock to "overweight" from "equal weight" as it sees
growth in the company's business in consulting and outsourcing
in Europe. It also expects strong growth in its health care
business. Barclays raised its price target on the company's
stock to $97 from $80. Brokerage Evercore Partners also raised
its price target late on Tuesday.
** FEDEX CORP, $113.47, up 2.5 pct (9:43 a.m. ET)
FedEx posted a bigger quarterly profit as the courier
company cut costs and its lower-priced ground shipping business
** ADOBE SYSTEMS INC, $51.54, up 7 pct (9:43 a.m.
The company, known for its Photoshop and Acrobat software,
expects subscriber growth to top the 331,000 it added in the
third quarter due to strong demand from corporate customers.
** SANGAMO BIOSCIENCES INC, $10.97, up 4 pct (9:42
The drugmaker said its common stock offering of 6.1 million
shares is priced at $10.58 per share, the closing price of its
stock on Tuesday, and which will fetch $65 million in gross
** CRACKER BARREL OLD COUNTRY STORE INC, $104.40,
down 2 pct (9:42 a.m. ET)
The restaurant operator forecast current-quarter profit
below analysts' estimates due to higher commodity costs and
** TOWER GROUP INTERNATIONAL LTD, $10.50, down 25
pct (9:41 a.m. ET)
FBR cut its rating on the property and casualty insurer's
stock to "market perform" from "outperform," saying that higher
reserves in the second quarter could put the company in a weaker
** CHEMOCENTRYX INC, $6.21, down 3 pct (9:40 a.m.
Chemocentryx said that GlaxoSmithKline Plc returned
the rights to its most advanced drug in development for
inflammatory bowel disease.
** DOLLAR TREE INC, $57.46, up 3 pct (9:40 a.m. ET)
The value retailer on Tuesday announced a $2 billion share
repurchase program. The company also said it had entered into
agreements to repurchase $1 billion of its common shares under a
variable maturity accelerated share repurchase program.
** FIVE BELOW INC, $46.70, down 4 pct (9:40 a.m.
The specialty value retailer on Tuesday announced a
secondary offering by its shareholders. The company said
shareholders have agreed to sell 7.1 million shares of its
common stock, of which 7 million shares would be sold by funds
affiliated with Advent International and 100,000 shares will be
sold by Five Below's executive chairman.
(Compiled by Varun Aggarwal)