MARKET PULSE- Pandora, Perion, Aeropostale, Chico's
(For more market insights, including options activity, click on ; for the Day Ahead newsletter http://link.reuters.com/mex49s;for the Morning News Call newsletter, http://link.reuters.com/nex49s)
Sept 17 (Reuters) - Some U.S. stocks on the move on Tuesday:
Stocks edged up at the open on Tuesday ahead of the start of a highly anticipated Federal Reserve two-day meeting, while inflation data supported the case for the Fed to start to reduce its stimulus measures. The Dow Jones industrial average rose 28.8 points or 0.19 percent, to 15,523.58, the S&P 500 gained 2.51 points or 0.15 percent, to 1,700.11 and the Nasdaq Composite added 8.193 points or 0.22 percent, to 3,726.038.
** KYTHERA BIOPHARMACEUTICALS INC, $42.00, up 25 pct (9:36 a.m. ET)
The maker of aesthetic medicines said on Monday its ATX-101 experimental injectable drug met the main and secondary goals of a clinical study testing the product's safety and efficacy in reducing double chin. Over 1,000 patients from the United States and Canada were enrolled in two late-stage studies for evaluating the drug against a placebo, Kythera said.
** AGENUS INC $3.46, up 26 pct (9:37 a.m. ET)
The biotechnology company said a mid-stage study of its experimental brain cancer vaccine used in combination with standard treatments showed a 160 percent increase in progression free survival, compared to the standard treatment alone, in patients with an aggressive brain tumor.
** HUNTSMAN CORP, $20.21, up 6 pct (9:37 a.m. ET)
Huntsman said it would combine its pigment business with Rockwood's as part of a $1.1 billion deal and eventually take the business public.
** OUTERWALL INC, $46.97, down 16 pct (9:38a.m. ET)
The operator of the Redbox video rental kiosks slashed its third-quarter and full-year earnings forecast as average transaction size fell below its expectations due to higher discounts, sending its shares down 20 percent.
** LLOYDS BANKING GROUP PLC, $4.77, down 3.4 pct (09:38 ET)
Britain could have sold the 6 percent stake in the banking group it placed with investment institutions nearly three times over, sources said, raising the prospect it could sell all its shares before the 2015 General Election.
** CHICO'S FAS INC, $17.29, up 5 pct (09:36 a.m. ET)
KeyBanc Capital Markets upgraded its rating on the women's apparel retailer's stock to "buy" from "hold," according to Theflyonthewall.com.
** EZCHIP SEMICONDUCTOR LTD , Monday close $22.24, up 5 pct premarket
Cisco Systems Inc intends to continue using EZchip processors in all its routers that currently use its technology, the company clarified in a statement after reports on Thursday suggested that Cisco may replace EZchip processors in its routers with a new programmable network processor chip.
** DENDREON CORP, $3.98, up 9 pct (9:39 a.m. ET)
The biotechnology company said the the European Commission granted marketing approval to its prostate cancer vaccine, Provenge.
The company said the vaccine is approved in all 28 countries of the European Union as well as Norway, Iceland and Liechtenstein.
** MICROSOFT CORP, $33.18, up 1 pct (9:36 a.m. ET)
The software maker said it would buy back up to $40 billion of its shares and raise its quarterly dividend by 22 percent. The new share repurchase program, which has no expiration date, replaces a $40 billion buyback program that was set to expire on Sept. 30.
** NEOSTEM INC, $8.87, up 6 pct (9:32 a.m. ET)
The specialty pharmaceutical company said an independent Data Safety Monitoring Board recommended that the company continue with a mid-stage trial of its heart drug after a third review.
The drug, AMR-001, is being tested to preserve heart function after a severe heart attack.
** PERION NETWORK LTD, $12.29, up 5 pct (9:42 a.m. ET)
Benchmark Co raised its price target on the Israeli consumer internet company's stock to $19 from $16, a day after Perion said it would merge with privately held Conduit's "client connect" business in an all-stock deal.
The brokerage said the deal was a "significant positive" for Perion. "Perion will continue to gain scale and efficiencies in the near-term, although Perion must continually invest in customer acquisition to maintain its user base and drive further revenue growth," analyst Daniel Kurnos said in a note.
** WERNER ENTERPRISES, $23.09, down 5 pct (9:43 a.m. ET)
The transportation company forecast a third-quarter profit below analysts' expectations, citing lower gains on equipment sales and higher driver and maintenance costs. RBC Capital Markets downgraded the stock to "sector perform" from "outperform" and KeyBanc Capital Markets downgraded it to "hold" from "buy", according to theflyonthewall.com.
** BIG 5 SPORTING GOODS CORP, $16.50, down 3 pct (9:43 a.m. ET)
Brokerage Piper Jaffray cut its rating on the sports goods retailer's stock to "neutral" from "overweight," theflyonthewall reported.
** AEROPOSTALE INC, $10.11, up 17 pct (9:44 a.m. ET)
Sycamore Partners reported a 7.96 percent holding in the teen apparel retailer as of Sept. 9. (http://r.reuters.com/far23v)
(Compiled by Varun Aggarwal)