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stocks on the move".
U.S. stock index opened lower on Wednesday, as investors
struggled to find reasons to keep buying with indexes still
hovering near record levels. The Dow Jones industrial average
was down 0.56 percent at 16,851.62, the S&P 500
was down 0.34 percent at 1,944.08 and the Nasdaq Composite
was down 17.78 points, or 0.41 percent, at 4,320.22.
** OREXIGEN THERAPEUTICS INC, $5.5782, -18.09 pct
The company said the U.S. Food and Drug Administration
delayed a decision on the marketing application for its obesity
drug, contrave, by three months.
** ELI LILLY AND CO, $59.75, +0.00 pct
The company's recently approved stomach cancer drug Cyramza
failed to prolong the lives of patients with advanced liver
cancer in a late-stage trial, the drugmaker said on Wednesday.
** BALTIC TRADING LTD, $6.38, -3.92 pct
** DRYSHIPS INC, $3.47, +0.87 pct
** EAGLE BULK SHIPPING INC, $3.5746, +1.55 pct
** GLOBUS MARITIME LTD, $3.56, +0.28 pct
The Baltic Exchange's main sea freight index, which
tracks rates for ships carrying dry bulk commodities, fell 31
points, or 3.09 percent on Wednesday dragging down stocks of dry
** BOYD GAMING CORP, $11.89, +6.26 pct
The casino operator said on Tuesday its unit Borgata would
receive a tax refund of $88.3 million as part of an agreement to
settle portions of tax appeal complaints filed by Borgata,
related to property tax assessments for tax years 2011 through
** REVOLUTION LIGHTING TECHNOLOGIES INC, $2.26,
The LED lighting maker said it won an order from real estate
investment trust SL Green Corp to install more than
6,000 units of its LED products at nine properties of SL Green.
** MONTAGE TECHNOLOGY GROUP LTD, $21.45, +8.44 pct
Shanghai Pudong Science And Technology Investment Co.
offered to buy the Shanghai-based chipmaker for $22.6 per share,
valuing Montage's equity at about $693 million.
** LULULEMON ATHLETICA INC, $44.77, -1.56 pct
Founder and biggest shareholder, Chip Wilson, lashed out at
the yogawear retailer's board on Wednesday, announcing he had
voted not to re-elect the yogawear retailer's new chairman,
Michael Casey, and one other director.
** BARRICK GOLD CORP, $16.51, +1.54 pct
** NEWMONT MINING CORP, $23.19, +1.80 pct
** ELDORADO GOLD, $6.29, +2.11 pct
** AGNICO EAGLE MINES LTD, $31.93, +1.33 pct
** COEUR MINING INC, $7.59, +2.02 pct
** NEW GOLD INC, $5.71, +3.63 pct
** SILVER WHEATON CORP, $21.76, +2.21 pct
** SEABRIDGE GOLD INC, $8.28, +6.29 pct
Gold added 0.3 percent to $1,264.00 an ounce, holding
above a four-month low of $1,240.61 hit last week and
benefitting from struggling equity markets and a slightly weaker
** OCERA THERAPEUTICS, $7.4499, +6.28 pct
JMP Securities Analysts started coverage of the drug
developer with an "outperform" rating, saying they believe the
company's forthcoming studies have a good chance of success.
Ocera is developing OCR-002 for reducing ammonia toxicity in
patients with liver damage. Analysts estimated the market for
the drug could exceed $500 million.
** ORASURE TECHNOLOGIES INC, $7.57, +4.70 pct
The diagnostics maker said it entered into an agreement with
drugmaker AbbVie Inc to jointly promote OraSure's
OraQuick HCV Rapid Test in the United States. The test is used
to evaluate individuals at risk for hepatitis C.
** TABLEAU SOFTWARE INC, $64.67, +5.39 pct
Information Technology consultancy firm Brillo entered into
a strategic partnership with Tableau to use its data analysis
software to serve enterprise customers.
** MILLENIAL MEDIA INC, $4.44, +5.46 pct
The mobile advertising services provider said it hired Marc
Theermann from Google Inc as executive president of
business strategy to oversee the company's advertising
development efforts. At Google, Theermann was head of mobile
platform sales, managing the publisher sales organizations for
its mobile ad products.
** APPLE INC, $94.26, +0.01 pct
** STARBUCKS CORP, $74.48, -0.16 pct
The European Commission said it had opened three in-depth
investigations into tax decisions affecting Apple, Starbucks and
Fiat Finance and Trade in Ireland, the Netherlands and
** JPMORGAN CHASE & CO, $57.45, -0.78 pct
Chief Financial Officer Marianne Lake affirmed the The
investment bank's earlier statements that second-quarter capital
markets revenue would likely be down about 20 percent from a
** THE BANCORP, $11.7799, -27.28 pct
The lender said it will be restricted from issuing
non-benefit relodable prepaid card programs until it complies
with obligations issued by the Federal Deposit Insurance Corp,
under the Bank Secrecy Act (BSA). The bank said it would incur
additional expenses associated with these actions.
Brokerage BTIG downgraded the stock to "neutral" from "buy",
citing uncertainity over the timing of a potential approval of
the company's BSA report.
** INTERPUBLIC GROUP OF COS, $19.71, +0.66 pct
CNBC's Jim Cramer mentioned the advertising company as a
potential takeover target on his show "May Money" on Tuesday,
according to Benzinga.com.
** CBS CORP, $62.01, +1.44 pct
The owner of the most watched U.S. television network said
it would divest its 81 percent stake in CBS Outdoor Americas Inc
, its outdoor advertising unit, over three days from
July 7. The company's shareholders would be able to exchange all
or some of their Class B common stock for CBS Outdoor shares at
a 7 percent discount.
** PORTOLA PHARMACEUTICALS INC, $24.72, +2.96 pct
The company said its experimental drug reversed the effect
of a generic blood thinner in a mid-stage study, indicating the
drug would allow coagulation in cases of excessive bleeding or
** SANDISK CORP, $99.73, +2.67 pct
Bofa Merrill Lynch raised its rating to "buy" from
"underperform" on the memory chipmaker's stock, according to
** BANK OF AMERICA CORP, $15.63, -1.82 pct
The bank and the U.S. Department of Justice have reached an
impasse in negotiating a multibillion-dollar settlement related
to BofA's mortgage investments, the New York Times reported
citing people briefed on the matter.
** AMERICAN INTERNATIONAL GROUP INC, $54.445, -1.03
The insurer said Peter Hancock would succeed Robert
Benmosche as CEO and president, effective Sept. 1.
** MORGAN STANLEY, $31.67, -1.28 pct
The company will "probably" close sales of two physical
commodities businesses in the third quarter, CEO James Gorman
** BP PLC, $50.93, -0.04 pct
** AEROVIRONMENT INC, $34.78, -1.83 pct
British Petroleum has been authorized to use unmanned
aircraft to survey pipelines and other infrastructure on
Alaska's North Slope, the first commercial drone flights over
U.S. land, government authorities said on Tuesday, giving a
boost to the tiny aircraft's manufacturer AeroVironment.
** AMAZON.COM INC, $338.79, +1.92 pct
The retailer plans to launch a marketplace later this year
for local services - a broad term encompassing anything from
babysitters to handymen to birthday clowns - beginning with a
single market, several people familiar with the matter said.
** EXELON CORP, $36.38, -2.10 pct
The utility company said it would offer 50 million shares of
its common stock and 20 million equity units for sale. The net
proceeds would be used to partly finance the acquisition of
Pepco Holdings Inc.
Each equity unit will comprise a contract to purchase Exelon
common stock by June 1, 2017 and a 1/20 undivided beneficial
ownership interest in $1,000 principal amount of Exelon's junior
subordinated notes due 2024.
** HILTON WORLDWIDE HOLDINGS INC, $22.77, -2.82 pct
The hotel operator said some of its shareholders were
selling 90 million Hilton shares at $23.04 per share, a slight
discount to the stock's Tuesday close of $23.43. The company
said it would not receive any proceeds from the sale.
** BIOFUEL ENERGY CORP, $8.28, +43.38 pct
The ethanol producer said it would buy real-estate assets
controlled by Greenlight Capital Inc and real estate investor
James Brickman for $275 million in cash and stock.
** MICRON TECHNOLOGY INC, $30.77, +4.27 pct
Credit Suisse raised its price target to $50 from $30 on the
chipmaker's stock, citing enterprise demand for its DRAM memory
chips used in personal computers.
Prices for DRAM chips made by Micron, Samsung Electronics Co
Ltd and SK Hynix Inc have bounced back
from a deep memory chip price slump in 2012 that led some
chipmakers to throttle back production.
** H&R BLOCK INC, $31.3, +1.85 pct
The tax preparer's fourth-quarter earnings rose to $3.29 per
share from $2.42, after the company exited unprofitable retail
partnerships and improved its online tax-preparation software
** RAMBUS INC, $13.08, +5.83 pct
The technology licensing company raised its second-quarter
revenue forecast to $75 million-$77 million, from its previously
stated range of $69 million-$74 million.
Rambus also entered into a patent license agreement with
Qualcomm Global Trading Pte Ltd, a unit of Qualcomm Inc
. The agreement gives Qualcomm Inc and its units access
to patented memory, interface, and security technologies from
Rambus. The company said other terms of the agreement were
** SYNAPTICS INC, $81.69, +22.81 pct
The touchscreen chipmaker said it would buy the sole
supplier of display chips for the iPhone for $475 million,
potentially winning back Apple Inc as a customer. The
company also raised its revenue forecast for the fourth quarter
ending June 30.
** PENN VIRGINIA CORP, $14.37, +1.84 pct
The oil and gas producer said on Tuesday it plans to offer
2.5 million depositary shares and use the net proceeds to
finance its Eagle Ford Shale development program and acquire
more leaseholds in Eagle Ford Shale.
** ULTA SALON COSMETICS AND FRAGRANCE INC, $98.18,
The beauty products retailer reported better-than-expected
first-quarter profit and revenue on Tuesday helped by higher
e-commerce sales and forecast current-quarter sales above
analysts' average estimate.
At least two brokerages raised their price targets on the
stock on Wednesday.
** UNITED NATURAL FOODS INC, $64.77, -5.45 pct
The U.S. food distributor reported first-quarter results in
line with analysts' average estimates on Tuesday and said it
expects earnings of $2.47-$2.50 per share for the year ending
Aug. 2, down from the $2.45-$2.51 it expected earlier.
The company said the updated outlook reflects acquisition
costs related to its agreement to buy Tony's Fine Foods for
about $195.3 million.
** PROSPECT CAPITAL CORP, $10.28, +4.68 pct
The business development company said it will not need to
restate historical financial statements to consolidate some
wholly owned subsidiaries, based on discussions with the office
of the chief accountant of the Securities and Exchange
(Reporting By Shubhankar Chakravorty in Bangalore; Editing by