BP Share News (BP.)

U.S. stocks traded lower Monday as the Dow Jones Industrial Average slid 28 points to 10115, the Standard & Poor's 500 declined 4 points to 1073 and the Nasdaq Composite fell 11 points to 2213. Among the companies whose shares are actively trading in the session are CardioNet Inc. (BEAT), Orexigen Therapeutics Inc. (OREX) and Isle of Capri Casinos Inc. (ISLE). CardioNet ($6.00, -$1.18, -16.43%), which makes systems that monitor heart rhythm disorders for people on an outpatient basis, said it was "disappointed" in a decision by the federal agency that administers Medicare and Medicaid to keep the reimbursement rates on some of its technology as carrier-priced for next year. Orexigen Therapeutics (OREX, $4.67, +$0.52, +12.53%) said its obesity treatment Contrave helped diabetes patients in a mid-stage trial lose more weight and control blood sugar better than a placebo group. Isle of Capri Casinos Inc. (ISLE, $11.22, -$1.19, -9.59%) announced plans to sell at least 9 million shares, using proceeds to pay down the $80 million drawn from a credit line to fund its purchase of the Rainbow casino earlier this month from Bally Technologies Inc. (BYI, $35.74, -$0.14, -0.39%). Citing "pending" moves by Apple Inc. (AAPL, $267.24, +$0.54, +0.20%) and Google Inc. (GOOG, $470.50, -$2.18, -0.46%), Susquehanna cut its rating on Amazon.com Inc. (AMZN, $117.77, -$3.23, -2.67%) to neutral from buy. The firm said that "rising competition is raising the uncertainty regarding eReader, eBook, and Book profit growth rates, capping the contribution to AMZN's valuation from these sectors. Thus, we are less confident in the multiple expansion we previously forecast." BP PLC (BP, $27.57, +$0.55, +2.04%) shares rose as fears subsided that a tropical storm would disrupt the cleanup operation, but that good news was tempered by a sharp increase in the company's daily rate of spend on Gulf of Mexico operations to $100 million. Cabot Oil & Gas Corp. (COG, $34.57, +$1.64, +4.98%) announced the successful start-up of the energy company's Lathrop compressor station in Susquehanna, Pa. The company said its total company production is now about 375 million cubic feet per day, above its daily published guidance levels for the second half of the year, which it will evaluate and update on the second-quarter call. Other Stocks In Focus Aflac Inc. (AFL, $44.37, +$0.78, +1.79%) said it will post an $80 million gain but the insurer will also take a $67 million charge in the current quarter on deals involving so-called perpetual securities and the sale of all its Greek sovereign debt, respectively. BMO Capital Markets boosted its rating on Amylin Pharmaceuticals Inc. (AMLN, $19.97, +$0.66, +3.42%) to market perform from underperform after seeing more detailed data from Roche Holding AG's (RHHBY, $35.39, +$0.14, +0.40%) taspoglutide diabetes drug. The firm said the safety profile of Roche's drug is much worse than that of Bydureon, Amylin's diabetes drug, diminishing its competitive threat. Arena Pharmaceuticals Inc. (ARNA, $3.31, +$0.07, +2.16%) said data from a Phase 3 trial of lorcaserin showed the weight-loss drug reduced body weight in all patient subgroups and showed greater improvements in cardiovascular risk factors compared to a placebo. Baldor Electric Co. (BEZ, $38.38, +$0.74, +1.97%), a producer of electric motors and power transmissions, will benefit from improving business and the switch to higher efficiency motors, says Canaccord, in upgrading to buy from hold. The firm said margins have the potential to increase further in 2010 and 2011, as sales volume increase and increasingly shifts toward the higher-priced efficiency motors. KBW boosted its rating on Boston Private Financial Holdings Inc. (BPFH, $6.84, +$0.14, +2.09%) to outperform from market perform, saying the sharp selloff since first-quarter earnings provides an attractive entry point. "We remain constructive on recent capital and credit trends and believe recent TARP repayment and the sooner than expected return to profitability are likely to serve as near-term catalysts for the shares," the firm said. Bucyrus International Inc. (BUCY, $51.09, -$2.10, -3.95%) said it may lose a $310 million order for mining machinery from a subsidiary of Reliance Power Ltd. (532939.BY) of India because of a decision by the U.S. Export-Import Bank against providing loan guarantees for the project. The decision is equivalent to "throwing 1,000 jobs in the ditch," Tim Sullivan, chief executive of the maker of mining equipment, said in an interview with The Wall Street Journal on Friday. Bucyrus has estimated that the order would create or protect 984 jobs in 13 U.S. states. (MORE TO FOLLOW) Dow Jones Newswires June 28, 2010 10:19 ET (14:19 GMT)