The stock market is mixed on Tuesday, with the Dow Jones Industrial Average down 0.01%, the Nasdaq up 0.21% and the S&P up 0.51%. Tuesday's winners include a telecommunications company who is near a deal with a larger firm and a pharmaceutical company whose drug received orphan status from the U.S. Food and Drug Administration. Meanwhile, the losers include another pharmaceutical company who discontinued a study on a lung-cancer drug and a retailer who cut its third-quarter outlook.
These are Tuesday's market winners and losers.
Shares of MetroPCS Communications Inc. (NYSE: PCS) are up 18.19% to $13.61 on trading volume of 6.7 million shares. Bloomberg reported Tuesday that Deutsche Telekom AG is near some sort of deal with MetroPCS. Before Tuesday, the 52-week high was $12.48.
Shares of Cell Therapeutics Inc. (NASDAQ: CTIC) are up 17.49% to $2.62 on trading volume of 4 million shares. The FDA granted orphan status to its brain cancer drug, the company announced Tuesday. The 52-week high is $8.25.
Shares of ArQule Inc. (NASDAQ: ARQL) are down 55.41% to $2.23 on trading volume of 16 million shares. The company said it is discontinuing its late-stage study of a drug for lung-cancer patients since it has shown it won't improve survival rates. Before Tuesday, the 52-week low was $4.46.
Shares of Express Inc. (NYSE: EXPR) fell 20.45% to $11.94 on trading volume of 4.8 million shares. The company cut its third-quarter profit outlook to between 16 cents and 20 cents a share, down from 27 cents to 32 cents a share. Before Tuesday, the 52-week low was $14.50.
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Filed under: 24/7 Wall St. Wire, Market Roundups, Most Actives Tagged: ARQL, CTIC, EXPR, PCS