Wall Street rebounds after three-day drop as tech leads

Traders work on the floor of the New York Stock ExchangeNEW YORK (Reuters) – U.S. stocks rose on Tuesday, snapping a three-day losing streak as investors bought beaten-down social media and Internet shares. The Dow Jones industrial average gained 10.40 points or 0.06 percent, to end unofficially at 16,256.27. The S&P 500 advanced 6.92 points or 0.38 percent, to finish unofficially at 1,851.96. The Nasdaq Composite added 33.234 points or 0.81 percent, to close unofficially at 4,112.986. (Reporting by Angela Moon; Editing by Jan Paschal)

Alkermes to seek schizophrenia drug approval after trial success

Alkermes Plc said it planned to seek U.S. marketing approval for its experimental drug to treat the symptoms of schizophrenia after it succeeded in a late-stage study, sending the company’s shares up as much as 11 percent. The company said it would apply for marketing approval for a monthly dose of the injectable drug, aripiprazole lauroxil, in the third quarter of 2014. “Once monthly or even less frequent dosing is key, since it increases compliance rates in schizophrenia, reduces relapse rates and hospitalization costs and provides costs savings to the healthcare system,” Leerink Partners analyst Michael Schmidt said in an e-mail. Data from the late-stage study supported dosing of the drug once every two months, Chief Executive Richard Pops said on a conference call with analysts.

Florida mayor, 93, in run-off election for record 20th term

By Barbara Liston ORLANDO, Florida (Reuters) – Voters in a central Florida town will decide on Tuesday whether to re-elect their 93-year-old mayor for a record 20th term in office. Mayor John Land of Apopka, population 41,000, is facing opposition for the first time in a decade after finishing second in a four-way mayoral election in March. Research by the Orlando Sentinel newspaper, which covers Apopka, indicated Land is both the oldest U.S. mayor and Florida’s longest-serving mayor. His opponent in the runoff election is longtime resident and former newspaper reporter Joe Kilsheimer who lead in March with 2,354 votes, or 48 percent of total votes cast.

Drinking milk may slow women’s knee arthritis

By Shereen Jegtvig NEW YORK (Reuters Health) – The more milk women drank in a new U.S. study, the less deterioration they experienced in their arthritic knees. It’s not certain that milk was the reason for the slower arthritis progression, researchers said, and the effect was not seen in men. “Milk is an excellent source of vitamins and minerals, dairy calcium and protein and has long been recognized for its important role in bone health,” Dr. Bing Lu told Reuters Health in an email. Lu, of Brigham and Women’s Hospital in Boston, led the study, which was published in Arthritis Care and Research.

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