Sept 25 U.S. stocks dipped in choppy trading on
Wednesday, with the S&P 500 eyeing a fifth day of losses, as a
lack of progress in budget negotiations in Washington puzzled
investors. The Dow Jones industrial average fell 0.04
percent, to 15,329.13, the S&P 500 lost 0.07 percent, to
1,696.25 and the Nasdaq Composite dropped 0.05 percent,
** J.C. PENNEY CO INC, $10.21, down 14 pct (11:01
The struggling retailer's shares tumbled to their lowest in
nearly 13 years on Wednesday after Goldman Sachs said it expects
sales at the troubled department store chain to improve more
slowly than expected.
** 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.
** PACIFIC BIOSCIENCES OF CALIFORNIA INC, $4.95, up
43 pct (10:24 a.m. ET)
Pacific Biosciences of California Inc said it
licensed its technology to develop DNA-sequencing products to
Roche Diagnostics. The company will get an upfront payment of
$35 million from Roche, and expects to get an additional $40
million in milestone payments.
** 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.
** UNIPIXEL INC, $18.14, up 13 pct (10:11 a.m. ET)
The LCD film maker's shares were up on reports that the
company and Eastman Kodak Co have made significant
progress in their joint effort to manufacture and market
UniPixel's next-generation touch-screen sensor film, according
to Benzinga. ()
** 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
** PACIRA PHARMACEUTICALS INC, $45.57, up 7 pct (10
Barclays Capital analysts raised their price target on the
stock to $56 from $43, saying the specialty pharmaceutical
company's post-surgical pain treatment, Exparel, and its
broadening use, particularly in orthopedic surgery, have
bolstered the drug's commercial expectations.
** GLU MOBILE INC, $2.63, up 10.7 pct (11:33 a.m.
The mobile game maker said 'Deer Hunter 2014' released on
Sept. 18 on Apple Inc's iOS and Mac platforms ranked
seventh on U.S. App Store Top Grossing chart position for
** 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.
** SILVER SPRING NETWORKS INC, $17.56, up 8 pct
(10:29 a.m. ET)
The smartgrid company said it expanded a project with power
supplier EDP Distribuição in Portugal, following a successful
Goldman Sachs raised its rating on the stock to "buy" from
"neutral", according to Streetinsider.com. ()
** 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
** RENESOLA LTD, $4.39, up 10 pct (11:35 a.m. ET)
** TRINA SOLAR LTD, $12.81, up 9 pct
** JA SOLAR HOLDINGS CO LTD, $9.47, up 8 pct
** YINGLI GREEN ENERGY HOLDING CO LTD, $5.97, up 7
Shares of Chinese solar panel producers continued to rise
for the second day after the U.S. trade group Solar Energy
Industries Association proposed a deal on Monday that could lift
United States' steep import duties on Chinese-made solar
products, which have raised production costs for Chinese solar
panel makers. ()
"I think this is a non-starter (as a political matter), but
the headline seems to have gotten the bulls excited," said
Raymond James analyst Pavel Molchanov.
** 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.
** MISONIX INC, $4.50, down 6.1 pct (10:32 a.m. ET)
The surgical device maker reported a fourth-quarter loss of
22 cents per share on net sales of $3.8 million due to
decreasing sales of its liposuction device, Lysonix, and a fall
in royalty from its blood thickening device, AutoSonix.
** BRAVO BRIO RESTAURANT GROUP INC, $0.84, down 5.2
pct (10:37 a.m E.T)
Piper Jaffray downgraded the upscale casual dining chain's
stock to "neutral" from "overweight", according to
** FIFTH & PACIFIC COS, $23.79, down 4.3 pct (10:55
The frontrunners to acquire the apparel and accessories
maker's Lucky Brand and Juicy Couture have both dropped out,
Women's Wear Daily said in a report citing sources. ()
IDG Capital dropped out of the bidding for Juicy last week,
sources told WWD. Fifth & Pacific had been in exclusive talks
with private equity firm Advent International for Lucky, but the
deal fell apart late last month.
** 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".
** EAGLE BULK SHIPPING INC, $7.84, up 5 pct (11:00
** DRYSHIPS INC, $3.76, up 5 pct
** BALTIC TRADING LTD, $5.32, up 6 pct
** PARAGON SHIPPING INC, $5.95, up 4 pct
The Baltic Exchange's main sea freight index, which
tracks the cost of shipping commodities such as iron ore,
cement, grain, coal and fertilzer, was up about 5 percent on
** INFINITY PHARMACEUTICALS INC, $17.95, down 2
percent (9:53 a.m. ET)
Infinity Pharmaceuticals 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 smoking.