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U.S. stocks were climbing in the early stages of trading on Friday, with major indexes bouncing back modestly from their biggest drop since July, after data showed the economy grew at its fastest pace in more than two years.
The Dow Jones industrial average was up 0.36 percent at 17,006.71, the S&P 500 was up 0.21 percent at 1,970.04 and the Nasdaq Composite was up 0.36 percent at 4,483.046.
** JANUS CAPITAL GROUP INC, $14.95, +34.56 pct
Bill Gross, one of the bond market's most renowned investors, is leaving Pimco, the investment firm he founded and with which his name has been effectively synonymous, for rival asset management firm Janus.
The surprise announcement, which rattled the U.S. Treasury market, led to European stocks trimming their gains as shares of German insurer Allianz SE, the parent of Pimco, sank 5 percent. Janus' stock hit a four-year high.
Chart on stock movement of Pimco's NYSE-listed funds reut.rs/1pvNJN4
** BLACKBERRY LTD, $10.195, +4.03 pct
The Canadian smartphone maker said second-quarter revenue fell nearly 42 percent to $916 million, missing the average analyst estimate of $949.63 million.
The stock had earlier risen about 4 percent after the company said its loss narrowed to $207 million from $965 million a year earlier in early sign turnaround efforts may be working.
** DIGITAL ALLY, $19.4, +28.65 pct
The wearable video camera maker received an initial order worth about $200,000 from the U.S. military for complete video evidence gathering system. The company expects follow-on orders, it said.
** LIGHTINTHEBOX HOLDING CO LTD, $6.23, +8.92 pct
The online retailer raised its third-quarter revenue forecast.
** PULSE ELECTRONICS CORP, $1.67, -26.11 pct
The electronics components maker said it would delist from the New York Stock Exchange to save costs, giving it greater operational efficiencies.
** POWELL INDUSTRIES INC, $45.15, -9.19 pct
The electrical power products maker cut its revenue and profit forecast for year ending Sept. 30 due to scheduled delays and higher-than-expected operating costs in July and August.
** ACELRX PHARMACEUTICALS INC, $5.565, -17.19 pct
The U.S. FDA said it would take another six months to review a marketing application on the drugmaker's recently rejected pain management device.
** REPROS THERAPEUTICS INC, $9.602, +7.17 pct
The drug developer said its experimental drug to treat low testosterone, Androxal, met the main goal of late-stage study.
The U.S FDA has granted the company a pre-drug approval meeting to discuss Androxal in the first half of November.
** SEADRILL LTD, $26.43, -2.00 pct
Analysts at Goldman Sachs downgraded the company's Oslo-listed stock to "sell" from "neutral" saying deteriorating rig market and high level of financial leverage would likely prompt the company to cut dividend in 2016.
The world's biggest offshore driller said earlier this month it expected the rig market to remain soft for next couple of years.
** AGIOS PHARMACEUTICALS INC, $62.14, +16.26 pct
The drug developer said it would present early-stage data on its experimental blood cancer drug AG-120 at a symposium in November.
** DIAMOND FOODS INC, $28.82, +8.26 pct
The packaged food company reported better-than-expected quarterly adjusted profit and sales, helped by higher demand for snacks such as Pop Secret popcorn and Kettle potato chips.
** MICRON TECHNOLOGY INC, $33.749, +6.46 pct
The memory chipmaker posted fiscal fourth-quarter results and gave a revenue outlook that impressed Wall Street as signs of stabilization in the personal computer industry supported demand for DRAM chips.
At least ten brokerages including Stifel Nicolaus and Raymond James raised their price targets on the stock.
** NIKE INC, $87.9, +10.22 pct
The world's largest sportswear maker reported a better-than-expected quarterly profit as it gains market share in Europe and focuses on higher-margin products such as Flyknit soccer boots.
Janney Capital Markets upgraded the stock to "buy" from "neutral" and at least 13 brokerages raised their price target.
** FINISH LINE INC, $26.26, -10.71 pct
The footwear retailer posted a quarterly profit that missed Wall Street's estimate, hurt by lower demand for basketball sporting goods. Its merchandise inventory increases 11.5 percent.
** ALIBABA GROUP HOLDING LTD, $88.84, -0.09 pct
The newest way to bet on the fortunes of Chinese e-commerce heavyweight Alibaba will debut on Monday when its stock options go live for trading, and investors should look for the initial action to be very busy, but also choppy and potentially pricey. Options market traders say Alibaba puts and calls will likely see heavy demand given the interest shown so far in the stock since its record-setting $25 billion IPO last week.
** INTEL CORP, $34.01, -0.38 pct
Intel said it will pay as much as $1.5 billion for a 20 percent stake in two mobile chipmakers with ties to the Chinese government, in the hopes of catching up in a smartphone chip industry dominated by rival Qualcomm Inc.
** APPLE INC, $99.551, +1.72 pct
Apple broke its silence on complaints about bending iPhones, hours after withdrawing a glitch-ridden software update as the company struggles to restore momentum to the rollout of its latest phones.
** ASTRAZENECA, $71.37, +0.54 pctan expanded use of its IRESSA treatment for lung cancer has been recommended for approval by European regulators. (Compiled by Shailaja Sharma in Bangalore; Editing by Savio D'Souza)