Synergy Pharmaceuticals (SGYP) jumped in midday trading Wednesday after announcing its experimental drug for chronic constipation had achieved its primary goal. In the study, the drug produced a satisfactory result in one-fifth of patients. Stocks edged higher as investors showed nerves ahead of the Federal Reserve’s announcement and press conference mid-afternoon. Kythera Pharmaceuticals (KYTH) surged after Botox maker Allergan (AGN) announced a bid worth just over $2 billion. Adobe Systems (ADBE) was lower after reporting a weak outlook for its third quarter. Guidance overshadowed a better-than-expected second quarter. Crude oil moved higher after another weekly decline in domestic crude inventories.
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