ADVERTISEMENT

ADVERTISEMENT

Stocks on the move: Monsanto, Big 5 Sporting Goods, Zynga

U.S. stock indexes fell on Wednesday as oil prices slipped after data showed U.S. crude stockpiles touched record highs. The Dow Jones industrial average was down 0.30 percent at 16,814.02, the S&P 500 was down 0.24 percent at 1,973.52 and th...

2244329+2016-01-06T132958Z_2_LYNXMPEC050S0_RTROPTP_3_FRANCE-MONSANTO.jpg
Reuters file photo.

U.S. stock indexes fell on Wednesday as oil prices slipped after data showed U.S. crude stockpiles touched record highs. The Dow Jones industrial average was down 0.30 percent at 16,814.02, the S&P 500 was down 0.24 percent at 1,973.52 and the Nasdaq Composite was down 0.17 percent at 4,681.625.

 

** MONSANTO CO, $87.44, -5.46 pct

The world's largest seed company slashed its earnings forecast for the year, hurt by a strong dollar and low prices for its seeds as farmers curb spending. The company said on Wednesday it now expected adjusted earnings of $4.40-$5.10 per share, compared with the $5.10-$5.60 it had forecast in December.

 

ADVERTISEMENT

** CHECKPOINT SYSTEMS INC, $10.055, +27.44 pct

Canadian label and packaging maker CCL Industries Inc said it would buy U.S.-based Checkpoint, which makes anti-theft tags used by retailers, for about $422 million. CCL's offer of $10.15 per share in cash represents a premium of about 29 percent to Checkpoint's Tuesday close.

 

** BIG 5 SPORTING GOODS CORP, $11.25, -15.35 pct

The sporting goods retailer said it expected first-quarter earnings to range between a loss of 5 cents per share to a profit of 2 cents per share, well below the average analyst estimate of a profit of 13 cents. The company also said it expected first-quarter same-store sales to fall due to increased clearance activity.

 

** ZYNGA INC, $2.32, +7.41 pct

The creator of "FarmVille" named former Electronic Arts Inc executive Frank Gibeau as its chief executive, betting on an industry veteran to help accelerate its transition into a company focused on mobile gaming.

ADVERTISEMENT

 

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $69.2, +5.73 pct

A U.S. regulatory probe of the Canadian drugmaker, disclosed by the company on Monday, is focused on the company's relationship with specialty pharmacy Philidor RX Services and was triggered by Valeant's own request that regulators investigate a short seller's allegations, people familiar with the matter said.

 

** CSX CORP, $24.74, +0.41 pct

Canadian Pacific Railway Ltd had approached the company for a takeover in January, but CSX rebuffed CP's advances, the Wall Street Journal reported. ( http://on.wsj.com/1WUL4yJ )

 

** EYEGATE PHARMACEUTICALS INC, $4.2848, +12.17 pct

ADVERTISEMENT

The eye drug developer said it had received an additional milestone payment from Valeant Pharmaceuticals International Inc in connection with its lead experimental drug, EGP-437.

 

** EVERYDAY HEALTH INC, $5.6, +20.17 pct

The health and wellness information provider reported fourth-quarter profit and revenue above analysts' estimates. Everyday also forecast 2016 revenue in line with analysts' estimates, but Cowen & Co analysts said the guidance "came in better than some may have expected." 

What To Read Next
This week on AgweekTV, we hear about North Dakota corporate farming legislation and about WOTUS challenges. Our livestock tour visits a seedstock operation and a rabbit farm. And we hear about new uses for drones.
Kevin and Lynette Thompson brought TNT Simmental Ranch to life in 1985. Now, their daughter, Shanon Erbele, and her husband, Gabriel, are taking over the reins, and their sale is for Feb. 10.
Gevo will be making sustainable aviation fuel in Lake Preston, South Dakota. Summit Carbon Solutions plans to capture carbon emissions from the facility.
Even if it's not a lucrative venture, the hobby of raising rabbits continues at this farm near Sebeka, Minnesota.