ARIA
Ariad Pharmaceuticals is engaged in the discovery and development of novel pharmaceuticals based on intracellular signaling technology. The Company has established highly integrated capabilities in functional genomics, molecular cell biology, structure based drug design, combinatorial chemistry and pharmacology. The company is developing small-molecule drugs that block signal transduction pathways in cells responsible for osteoporosis, and immune and inflammatory diseases.
Stocks turned mixed in afternoon trading Wednesday, giving up much of their earlier advances.
The Nasdaq pared a 1% gain to 0.3%, while the NYSE composite and S&P 500 slipped into mildly negative territory, erasing earlier gains. Volume was tracking lower across the board.
Aruba Networks (ARUN) climbed above its 50-day moving average, gaining 7% in heavy trading. It and other cloud-related plays such as F5 Networks (FFIV) and Rackspace Hosting (RAX) got a boost from Riverbed Technology 's (RVBD) upbeat outlook.
Kraton Performance Polymers (KRA) gapped up and gained 4% in fast trade. Oppenheimer & Co. raised its price target to 67 from 50 and reiterated an outperform rating. The stock is bouncing back after reversing from an all-time high on March 30. Kraton broke out from a cup-with-handle base in late January.
On the downside, Dutch chip equipment maker ASML (ASML) dropped 6% despite smashing views with a 266% surge in Q1 earnings late Tuesday. The company noted that some customers have experienced supply chain disruptions from the Japanese earthquake.