Sept 25 U.S. stocks edged up at the open on
Wednesday, following four days of losses on the S&P 500 and Dow,
even as a lack of progress in budget negotiations in Washington
left investors puzzled. The Dow Jones industrial average
was up 0.08 percent, the S&P 500 was up 0.05 percent and
the Nasdaq Composite was up 0.12 percent.
** ONCOTHYREON INC, $2.20, up 22 pct (9:58 a.m. ET)
German drugmaker Merck KGaA will conduct new tests
on an experimental lung cancer vaccine which failed a previous
late-stage clinical trial, it said. The drug, licensed from U.S.
biotech firm Oncothyreon, will be tested on patients with
locally advanced Stage III non-small cell lung cancer, which
cannot be surgically removed, unchanged from the previous trial
called START, the firm said.
** MAKO SURGICAL CORP, $29.54, up 82 pct (9:56 a.m.
** STRYKER CORP, $69.69, down 1 pct
Medical device maker Stryker will buy the smaller peer for
about $1.65 billion to gain access to Mako's technology for
robot-assisted orthopedic surgery.
** ASCENA RETAIL GROUP INC, $19.81, up 14 pct (9:52
The womens apparel retailer said its fourth-quarter profit
more than tripled, comfortably beating Wall Street estimates, as
e-commerce sales surged and gross margins improved with fewer
** CLOVIS ONCOLOGY, $62.91, down 14 pct (9:51 a.m.
The developer of cancer drugs that had been looking for a
potential buyer, is finding no takers, according to a report by
Bloomberg, citing a person with knowledge of the matter.
* NTELOS HOLDINGS CORP, $17.50, up 10 pct (9:50
The telecom services provider raised its full-year EBITDA
forecast and said it settled disputes over services to Sprint
Corp's customers in Virginia and West Virginia. NTelos
raised its adjusted EBITDA forecast to $150 million-$155 million
from $140 million-$145 million.
** LANDEC CORP, $12.26, down 9 pct (9:51 a.m. ET)
The polymer maker reported lower-than-expected first-quarter
earnings as it changed the timing of income recognition from its
Windset Farms. Landec said about 6 cents per share have been
shifted from its first quarter to the remaining three quarters.
** COPART INC, $30.83, down 9.5 pct (9:56 a.m. ET)
The online auctioneer of vehicles said it will not convert
into a real estate investment trust, more than a year after the
company started evaluating such a move. Copart also reported a
fourth-quarter profit that missed Wall Street expectations by 8
** AAR CORP, $27.81, down 7 pct (9:54 a.m. ET)
The aerospace parts and systems maker reported a lower
first-quarter profit as sales fell in its technology products
business. The company reported sales of $514.5 million, below
analysts' expectations of $542.1 million.
** SOLAZYME INC, $11.29, up 5 pct (9:56 a.m. ET)
The renewable oil producer said it would supply tailored
algal oil to consumer goods supplier Unilever PLC. The
initial delivery of at least 10,000 metric tons is expected by
** CARNIVAL CORP, $33.07, down 4 pct (9:51 a.m. ET)
The world's largest cruise operator warned on Tuesday it
could report an adjusted loss for the current quarter, after
posting a 30 percent fall in third-quarter profit due to a
series of headline-grabbing mishaps on its cruise ships.
J.P.Morgan cut its price target on the stock to $32 from
$34, while Susquehanna International Group cut its target to $40
from $43. Bofa Merrill Lynch cut its rating on the stock to
"neutral," according to theflyonthewall.com.
** NOBLE CORP, $38.80, up 2 pct (9:54 a.m. ET)
The offshore drilling contractor unveiled on Tuesday a
long-planned spin-off of older rigs into a new company that may
make an initial public offering next year, as Noble seeks a
premium valuation for its best assets.
** INFINITY PHARMACEUTICALS INC, $17.95, down 2
percent (9:53 a.m. ET)
Infinity Pharmaceuticals Inc INFI.O said its cancer drug
failed to improve overall survival in a mid-stage study on
patients with non-small cell lung cancer who had a history of
** DYNAVAX TECHNOLOGIES CORP, $1.24, up 3 pct (9:50
The Vaccine published a commentary from two doctors
emphasizing that Dynavax's hepatitis B vaccine had an adjuvant,
an agent to boost immune response, which can be important for
immunization against hepatitis B. The journal also published
late-stage trial results showing the safety and viral response
of the vaccine, Heplisav.
** SKYWORKS SOLUTIONS INC, $25.09, down 3 pct
(10:08 a.m. ET)
B. Riley cut its rating on the chipmaker's stock to
"neutral" from "buy".
** BED BATH AND BEYOND INC, $74.63 (10:02 a.m. ET)
The U.S. home goods chain posts second-quarter results that
will give investors a read on consumer demand for discretionary
goods. The company has been investing heavily in e-commerce but
this has been a drag on margins.
** JABIL CIRCUIT INC, $23.97 (10:03 a.m. ET)
Quarterly profit at the contract manufacturer is expected to
be stable compared with the same period a year ago, but may fall
short of Wall Street estimates mainly due to the sudden
announcement of the business sale by Blackberry, one of its top