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U.S. stocks fell for a third day on Thursday amid uncertainty
over how soon the Federal Reserve will trim its market-friendly
stimulus program. The Dow Jones industrial average was
down 0.63 percent at 15,744.05, the S&P 500 was down 0.29
percent at 1,777.12 and the Nasdaq Composite was down
0.01 percent at 4,003.575.
** HILTON WORLDWIDE INC, $21.81, +9.05 pct
** BLACKSTONE GROUP LP, $28.87, -0.96 pct
Shares of Hilton, the world's largest hotel operator, rose 7
percent in their debut on Thursday. The shares opened at $21.30
after Blackstone raised more than $2.3 billion in the year's
The stock was the most traded on the New York Stock Exchange
with more than 22 million shares changing hands by 1:05 pm ET.
** FACEBOOK INC, $51.32, +3.93 pct
** WILLIAMS COS, $34.07, -0.79 pct
Standard & Poor's said on Wednesday Facebook will join its
S&P 500 stock index after the close of trading on Dec. 20,
cementing the social media network's rise into one of the
biggest, most powerful U.S. companies.
Facebook will also replace Williams Cos in the S&P 100 index
of large U.S. companies. Williams will remain in the S&P 500.
** CYTRX CORP, $6.05, +50.5 pct
The drugmaker's stock continued to rise after the company said
on Wednesday its experimental cancer drug improved survival
rates in soft tissue sarcoma patients without the disease
progressing, compared to chemotherapy alone. The stock rose as
much as 83 percent on Wednesday. More than 30
million shares, seven times its 10-day moving average, changed
hands on Thursday.
** CISCO SYSTEMS INC, $20.5, -1.82 pct
The world's top network equipment maker's Chief Executive
John Chambers said on Thursday he is beginning to see the U.S.
market recover but cited challenges in emerging market economies
such as Russia and Brazil.
** GENVEC INC, $2.5899, +48.84 pct
The company said the U.S. National Institutes of Health's
advisory committee approved the protocol for the initiation of
an early-stage trial to test the company's drug, CGF166, in
patients with severe hearing loss.
The drug is being developed by a unit of Novartis AG
under a research collaboration and license agreement
The stock was the top percentage gainer on the Nasdaq at
01:05 pm ET.
** ARC GROUP WORLDWIDE INC, $24.28, +10.01 pct
The company, which makes precision components using molding
technology, said it has formed a new 3D Material Technologies
LLC unit. The unit will use 3D printing technology to make
prototypes and customized parts.
** UNS ENERGY CORP, $58.59, +29.04 pct
Fortis Inc has reached a friendly deal to buy
Arizona-focused utility UNS Energy for about $2.5 billion in
cash, the Canadian power company said on Wednesday, as it looks
to expand its presence in the United States.
The stock was the top percentage gainer on the New York
Stock Exchange at 01:05 pm ET.
** SUPERTEL HOSPITALITY INC, $2.8499, -28.75 pct
The real estate investment trust said it suspended dividend
payments on its outstanding preferred stock to preserve capital
and improve liquidity.
** SAREPTA THERAPEUTICS, $20.162, +15.81 pct
** PROSENSA HOLDING NV, $4.67, +14.18 pct
Parents of boys suffering from a rare muscle disorder called
Duchenne muscular dystrophy (DMD) held a presentation on
Thursday to underline the importance of developing a DMD
treatment and need to form guidelines to optimize trials.
Last month, U.S. health regulators advised Sarepta to find
new ways to test the efficacy of its DMD treatment, citing new
data and the trial failure of a competing treatment being
developed by Prosensa and its partner, GlaxoSmithKline
** SIGMA DESIGNS INC, $4.3869, -18.00 pct
The company, which makes chips for set-top boxes, reported
lower-than-expected third-quarter results on Wednesday.
Needham cut its rating on the stock to "buy" from "hold",
saying the falling demand in the company's business that makes
chips for transferring IP content over cables or phone wires
will pressure revenue till the second half of fiscal 2015. The
brokerage also removed its $6 price target.
** LULULEMON ATHLETICA INC, $60.9001, -10.90 pct
The Canadian yogawear chain, which appointed a new chief
executive this week, warned on Thursday that fewer customers
visiting its stores and ongoing supply chain issues are hitting
sales in the crucial fourth quarter.
** SOUTHWEST AIRLINES CO, $18.64, +3.73 pct
Bank of America Merrill Lynch raised its rating on the
airline operator to "buy", according to Benzinga.com. The stock
was the top percentage gainer on the S&P 500 at 01:05 pm ET.
** VIOLIN MEMORY INC, $2.55, -17.21 pct
The enterprise flash storage maker's Chief Technology
Officer, Jonathan Goldrick, has left the company, according to a
Business Insider report. (r.reuters.com/kuh45v)
The company's stock, which has more than halved since the
company went public in September, was the top percentage loser
on the Nasdaq at 01:05 pm ET.
** ARAMARK HOLDINGS CORP, $22, +10.00 pct
Shares of the food services provider rose 3 percent in their
market debut, valuing the company at about $4.75 billion.
** CORCEPT THERAPEUTICS INC, $2.51, +11.56 pct
The company, which makes cortisol-based drugs, said it plans
to start developing its lead drug, mifepristone, as a treatment
for breast cancer.
Mifepristone is currently marketed as Korlym to control
hyperglycemia associated with Cushing's syndrome, a rare
** E-HOUSE (CHINA) HOLDINGS LTD, $13.91, +7.66 pct
The real estate services provider priced an offering of $135
million in convertible senior notes due 2018 at an initial
conversion price of about $16.80 per American Depository Share,
representing a premium of 30 percent over the stock's closing on
** SANDISK CORP, $65.77, -2.37 pct
Brokerage Nomura cut its rating on the memory chipmaker's
stock to "reduce" from "neutral" as it believes 2014 might not
be favorable for the NAND industry and SanDisk. It also said
demand has been soft in the low-end market, and that growth in
the industry depended heavily on solid state drives.
NAND memory chips are used in smartphones and tablets.
** HOMEAWAY INC, $36.67, -3.32 pct
The vacation rental company priced an offering of 6 million
shares at $37 per share, a discount to the stock's closing price
of $37.93 on Wednesday.
** TURQUOISE HILL RESOURCES, $3.14, -5.99 pct
Securities issued under the Canadian miner's rights offering
began trading on the New York Stock Exchange and the Nasdaq.
Each right will entitle the holder to purchase one common share
of Turquoise Hill. The subscription price of the offering
represent a discount of about 28 percent to the stock's closing
price of $3.34 on Wednesday.
** MAGNUM HUNTER RESOURCES CORP, $6.34, +3.93 pct
The oil and gas producer set a capital expenditure budget of
$400 million for 2014, compared with the $300 million it
earmarked for this year. The company backed its 2014 exit rate
target of 35,000 barrels of oil equivalent per day, roughly 46
percent higher than its 2013 exit target.
** ALPHA NATURAL RESOURCES, $6.52, -4.82 pct
The coal producer said on Wednesday that it would offer $250
million in convertible senior notes due 2020 and use the
proceeds to fund the purchase or repayment of a portion of debt.
The stock was the top percentage loser on the S&P 500 at
01:05 pm ET.
** NORTHWEST BIOTHERAPEUTICS INC, $3.37, -14.68 pct
The biotechnology company said it reached the number of
'events' required to trigger the first interim analysis of its
late-stage trial in Glioblastoma multiforme (GBM) brain cancer
patients. These events are defined as either a tumor recurrence
or a death, the company said.
** ZALE CORP, $14.6, +14.51 pct
Northcoast Research upgraded its rating on the mid-tier
jeweler's stock to "buy" from "neutral," according to
** CIENA CORP, $21.04, -8.12 pct
The network equipment maker forecast current-quarter revenue
largely below Wall Street estimates as its telecom customers
held back on spending in the last few months of the year.
** KINDRED BIOSCIENCES, $16.58, -7.22 pct
Shares of the clinical-stage animal biotech firm, which is
in the process of developing multiple pet therapeutics, rose in
their market debut, valuing the company at $130 million.
Kindred is an early clinical-stage pet biotech firm
dedicated to the development and commercialization of products
designed to improve pet health.
** BRIDGEPOINT EDUCATION INC, $16.58, -7.22 pct
The university operator said a tender offer by the company
to purchase up to 10.3 million shares for $19.50 per share
expired on Wednesday. "Because the offer was oversubscribed, the
number of shares that Bridgepoint will purchase from each
tendering stockholder will be prorated," the company said.
** GRAY TELEVISION INC, $13.13, +9.14 pct
Brokerage Barrington Research re-established coverage on the
broadcaster's stock with an "outperform" rating. It said Gray is
an "outstanding operator" and it ranks first in its local market
rankings, particularly in local news.
** PROGRESS SOFTWARE CORP, $24.24, -5.31 pct
JMP Securities downgraded the enterprise software maker's
stock to "market perform" from "outperform" citing concerns over
the long-term prospects of the company's main software product,
** SYNCHRONOSS TECHNOLOGIES INC, $30.03, +6.60 pct
Raymond James upgraded the company's stock to "strong buy"
from "outperform", according to theflyonthewall.com.
Synchronoss provides software and services to communication
service providers and cable operators to manage subscribers.
** IAMGOLD CORP, $3.462, -9.84 pct
The Canadian gold miner on Wednesday suspended
dividend payments to reduce costs by $100 million in 2013 and
said it would look for further cuts in 2014 due to the fall in
** SUNEDISON INC, $11.66, -8.84 pct
The solar company on Wednesday cut it sales forecast to
$905-$915 million, from $920-$930 million as it plans to keep
more solar plants on its balance sheet rather than selling them.
The company, which is planning to spin off some plants and
take them public next year, expects to sell about 380-405
megawatts (MW) of solar projects this year, lower than its
earlier forecast of 405-435 MW.
** ATHENAHEALTH INC, $125.88, -3.80 pct
The company said it expects 2014 earnings of $0.98-$1.10 per
share on sales of $725-$755 million, both of which were well
below analysts' estimates.
Analysts on average are expecting a profit of $1.38 per
share on revenue of $765.3 million, according to Thomson Reuters
** TAMINCO CORP, $19.39, -6.96 pct
The chemical maker said its secondary offering of 10 million
shares was priced at $20 per share, a 4 percent discount to
** EXELIS INC, $18.73, +7.34 pct
The U.S. arms maker, which was spun off from ITT Corp
in late 2011, on Wednesday said it would now spin off
its military and government services business, creating a new
independent firm with revenues of about $1.5 billion, and
focusing the remaining portfolio on higher margin sectors.
** SYNTA PHARMACEUTICALS CORP, $4.891, +5.18 pct
The company said its lead experimental drug, ganetespib,
showed positive interim results in advanced breast cancer
patients in a mid-stage study.
"The clinical activity, which includes a complete clinical
response as well as a complete radiological response,
illustrates the exciting potential for ganetespib in breast
cancer, and the rationale for exploring ganetespib in a broader
spectrum of disease stages and combinations," trial investigator
Neil Spector said in a statement.
** PROTHENA CORP, $28.3, +3.32 pct
Roche has raised it bet on medicines for the human
brain by signing a deal with Ireland's Prothena worth up to $600
million to develop and commercialize a treatment for Parkinson's
(Compiled by Avik Das in Bangalore; Edited by Savio D'Souza)