Drug approval sends Vanda Pharmaceuticals stock up 12 percent

May 28, 2016 at 7:00PM
FILE - In this Thursday, May 17, 2012, file photo, shoppers walk into Sears in Peabody, Mass. Sears' announced Thursday, May 26, 2016, its fiscal first-quarter loss widened as it suffered another sales drop at its Kmart and namesake stores. The retailer also announced that it's looking at options for its prized Kenmore, Craftsman and DieHard and Sears Home Services businesses, including possible partnerships or deals that could expand distribution of its brands and service offerings. (AP Photo/E
Sears stocks rose 6 percent after the company said it’s looking at options for expanded distribution. (The Minnesota Star Tribune)

Vanda surges: Vanda Pharmaceuticals climbed 12 percent to $10.61 Friday after regulators granted a new marketing approval for its schizophrenia drug Fanapt.

Heavy metal: Machinery maker Terex dropped 14 percent to $20.89 Friday after Chinese heavy equipment maker Zoomlion abandoned its effort to buy the company. It said the sides had failed to reach a deal after months of talks.

Retail gains: Share of department store Sears jumped 6 percent to $13.23 Thursday after it said it is looking at options for its Kenmore, Craftsman and DieHard and Sears Home Services businesses. Those options could include partnerships or deals to sell products that would expand distribution of its products, getting them into more stores outside of Sears and Kmart locations. Sears shares closed at $13.30 Friday.

Deal off: Fertilizer maker CF Industries dropped 7 percent to $27.82 after it ended a deal to buy OCI's distribution networks, citing new Treasury Department rules limiting tax inversions. CF Industries stock closed the week at $27.70.

Tech tie-up: HP Enterprise said it will sell its business service unit to CSC for $8.5 billion and focus on selling tech products to big organizations. Its stock, which rose 10 percent to $17.91 Wednesday, closed the week at $18.26.

Homecoming: Homebuilder Toll Brothers' stock rose 6 percent to $28.70 Tuesday after the company reported strong first-quarter earnings and raised its annual projections for home prices and sales. Shares closed Friday at $29.15.

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Jeremy Olson/The Minnesota Star Tribune

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