Stocks News Us: Infinity Pharma, Local among biggest premarket movers
03/09/2014 13:40
Sept 3 (Reuters) - Infinity Pharmaceuticals Inc INFI.O and
Local Corp LOCM.O are among the biggest premarket movers on
Wednesday, with both names rallying on heavy volume.
Infinity is surging 41 percent to $15.37 after the company
announced a collaboration with Abbvie ABBV.N to develop a
cancer treatment. If the premarket move holds, it would
represent one of the biggest one-day advances for the stock
ever. ID:nWNAB04NSF
Local is up 8.3 percent to $1.82 after it said it reached a
favorable settlement in patent infringement litigation with
Fry's Electronics.
On the downside, Digital Ally DGLY.O is down 5.4 percent
to $31.59, pulling back after a massive rally of nearly 80
percent in the previous session.
Futures snapshot at 8:33:
* S&P 500 e-minis ESc1 are up 7 points, 0.35 percent, with
252,457 contracts changing hands.
* Nasdaq 100 e-minis NQc1 are gaining 13 points, 0.32
percent in volume of 36,284 contracts.
* Dow e-minis 1YMc1 are up 69 points, 0.4 percent with
38,729 contracts changing hands.
From earlier in the day:
07:42-U.S. stock index futures are higher on Wednesday, with
hopes rising for a possible ceasefire in eastern Ukraine.
The Kremlin said President Vladimir Putin and Ukrainian
leader Petro Poroshenko had agreed on steps towards peace in
eastern Ukraine, even though there was no agreement for a
ceasefire. Such a deal would remove a headwind from the market,
which has been concerned about the potential fallout to any
escalation in tensions between the two countries.
Toll Brothers Inc TOL.N is higher in premarket trading,
rising 0.9 percent to $35.94 after the luxury homebuilder
reported a sharply higher profit. ID:nL3N0R4375
Futures snapshot at 7:41:
* S&P 500 e-minis ESc1 are up 6 points, 0.3 percent, with
225,553 contracts changing hands.
* Nasdaq 100 e-minis NQc1 are gaining 12 points, 0.29
percent in volume of 32,867 contracts.
* Dow e-minis 1YMc1 are up 59 points, 0.35 percent with
35,280 contracts changing hands.
(Reporting by Ryan Vlastelica)
((ryan.vlastelica@thomsonreuters.com; Tel: +1 646-223-6014;
Reuters Messaging:
ryan.vlastelica@thomsonreuters.com@reuters.net))