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July 29 (Reuters) - Some U.S. stocks on the move on Monday:
WALL ST OPENS LOWER, ENERGY AND MATERIALS WEIGH
U.S. stocks opened lower on Monday, with energy and materialshares among the weakest sectors. The Dow Jones industrialaverage was down 0.25 percent, The Standard & Poor's 500Index was down 0.22 percent, and the Nasdaq CompositeIndex was down 0.17 percent.
** SYNTA PHARMACEUTICALS CORP, $5.87, up 16 pct(0946 ET)
The biopharmaceutical company said a proof-of-concept studyon its drug candidate ganetespib as a treatment for breastcancer has met its goal. Preliminary data showed the study couldnow be expanded and taken to its next stage, the company said.
SOLAR STOCKS
** SUNTECH POWER HOLDINGS CO LTD, $1.52, up 8 pct(0947 ET)
** RENESOLA LTD, $4.55, up 6 pct (0948 ET)
** JINKOSOLAR HOLDING CO LTD, $13.55, up 5 pct (0948ET)
** CANADIAN SOLAR INC, $14.04, up 3 pct (0949 ET)
** TRINA SOLAR LTD, $7.75, up 4 pct (0949 ET)
China and the European Union defused their biggest tradedispute by far on Saturday with a deal to regulate Chinese solarpanel imports and avoid a wider war in goods from wine to steel.
EU's trade chief and his Chinese counterpart set a minimumprice for panels from China near spot market prices. Under theterms of the deal, China will also be allowed to meet about halfEurope's solar panel demand, if taken at last year's levels.
"The latest agreement more or less maintains the status quofor Chinese module makers," Raymond James analyst PavelMolchanov said, adding that the deal was in line withexpectations.
Chinese firms have already been bracing themselves for lowersales to Europe because the European market size is shrinking,while increasing their presence in markets like China and Japan.
** NOVAVAX INC, $2.58, up 4 pct (0946 ET)
The vaccine developer reported positive results frompre-clinical studies testing its experimental vaccine againstthe H7N9 virus, a strain of the bird flu virus.
Novavax said the drug demonstrated 100 percent protectionagainst wild-type A (H7N9) influenza versus zero percentsurvival in the control and placebo groups, when tested on mice.
The virus has caused 36 deaths, and infected 131 people inmainland China and one in Taiwan since February.
** WYNN RESORTS LTD, $129.69, down 1 pct (0930 ET)
The casino resorts operator reported a 6 percent drop inquarterly profit, hurt by a loss on early retirement of debt.The company's second-quarter results also missed Wall Street'sestimates.
** INTERPUBLIC GROUP OF COS, $15.87, up 5 pct (0945ET)
** OMNICOM GROUP, $70.16, up 8 pct (0945 ET)
Following a Bloomberg report that bigger rivals OmnicomGroup and Publicis Groupe were in talks for a merger, shares of Interpublic rose on expectation the secondlargest U.S. advertising company would be in play.
Omnicom and Publicis announced on Sunday that they wouldmerge in a $35.1 billion deal.
Interpublic may be considered an acquisition target by WPP, Havas or Japan-based Dentsu, PivotalResearch Group analyst Brian Wieser wrote in a note on Sunday.
** CHELSEA THERAPEUTICS INTERNATIONAL LTD, $2.93,down 5 pct (0945 ET)
Chelsea Therapeutics said the U.S. Food and DrugAdministration has notified the pharmaceutical company offormatting issues in certain electronic datasets andstatistical programs submitted as a part of the marketingapproval application of its experimental hypotension drug,Northera.
Chelsea expects to submit the data in August. The date for adecision on the drug's approval may be delayed from thepreviously decided date of Jan. 3, 2014.
** INTUITIVE SURGICAL INC, $395.29, up 4 pct (0944ET)
The maker of da Vinci surgical robots said it wouldrepurchase additional $779 million of the company's outstandingcommon stock. Intuitive's total share repurchase amount will nowbe about $1.5 billion.
** SAKS INC, $15.82, up 3 pct (0944 ET)
Hudson's Bay Co, operator of department storechains Lord & Taylor in the United States and The Bay in Canada,said on Monday that it would buy luxury retailer Saks Inc for$16 per share, or $2.9 billion in cash, including debt.
** INTERSIL CORP, $9.13, up 4 pct (0943 ET)
The company, which makes power management chips used inflat-panel displays and DVD players, reportedbetter-than-expected second-quarter revenue on Friday. Intersilalso said it will reduce its workforce by 150 employees.
** BARNES & NOBLE INC, $18.09, down 2 percent (0941ET)
The top U.S. bookstore chain said it sought more time todeliver audited financial statements to lenders due torestatements in certain financial periods. (http://link.reuters.com/nef99t)
The company said it had to restate certain financialstatements for periods prior to April 27, 2013, as it hadoverstated certain accruals as a result of inadequate controlsover the accrual reconciliation process at its distributioncenters.
(Compiled by Rohit T.K. in Bangalore; Editing by SreejirajEluvangal)
