Pompano Beach, FL -- (SBWIRE) -- 09/25/2012 -- Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) fell 2.23% to $57.41. The company and partner Alios BioPharma announced Tuesday that they plan to begin testing by the end of the year of an orally administered drug regimen for the treatment of the hepatitis C virus, or HCV. The companies hope to run one Phase II trial testing their HCV drug candidate ALS-2200 in combination with ribvarin, and a second testing ALS-2200 with Vertex's recently approved HCV therapy Incivek.
Vertex and Alios also said they have decided to discontinue development of their HCV drug candidate ALS-2158 due to disappointing results.
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Paychex, Inc. (NASDAQ:PAYX) moved down 2.21% to $33.62 on over 1.94 million shares. The company, which helps businesses process payroll and benefits, on Monday posted a profit gain on higher sales, but its stock was downgraded by UBS and Citigroup. UBS cut its rating to neutral, citing "cautious overall commentary and general top-line lightness.
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Caterpillar Inc. (NYSE:CAT) lost 2.08% to $88.98 on a traded volume of 3.89 million shares. During a presentation in Las Vegas, Caterpillar projected 2015 earnings of $12 to $18 a share based on estimated revenue of $80 billion to $100 billion. Caterpillar Chairman and CEO Doug Oberhelman said his company is assuming "modest global economic growth" over the next few years. But he said Caterpillar doesn't think a recession is likely.
Over the past five trading sessions, the stock lost more than 4%.
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Sirius XM Radio Inc (NASDAQ:SIRI) went down 0.52% to $2.49 on a traded volume of 18.99 million shares as Sirius XM Radio and Nissan North America yesterday announced that Nissan selected SiriusXM as the exclusive provider of a comprehensive suite of premium telematics services for Nissan branded vehicles.
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Intel Corporation (NASDAQ:INTC) added 0.33% to $22.87 on a traded volume of 12.72 million shares. Intel Corporation designs and manufactures integrated digital technology platforms. A platform consists of a microprocessor and chipset.
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