BUZZ-U.S. Stocks on the Move-ChemoCentryx, Adobe, GoPro, RadioShack
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U.S. stock index futures fell on Friday, putting the S&P 500 on track to snap a seven-week run of gains, as oil prices declined and after disappointing data in China. Dow Jones industrial average futures were down 0.53 percent at 17,481, S&P 500 futures were down 0.46 percent at 2,021.75 and Nasdaq 100 futures were down 0.52 percent at 4,214.5.
** ADOBE SYSTEMS INC, Thursday close $69.74, +6.83 pct premarket
The Photoshop maker said it would buy stock photography company Fotolia for $800 million and reported quarterly revenue above market estimates, helped by a 28 percent jump in the number of subscribers to its Creative Cloud suite.
** RADIOSHACK CORP, Thursday close $0.51, -0.75 pct premarket
The struggling electronic retailer said it plans to save over $400 million through cost cuts, but lenders are against 1,100 store closures, raising doubts about its turnaround.
"We believe bankruptcy is imminent," Wedbush Securities analyst Michael Pachter said. Pachter is one of two analysts who say the stock is worthless. Continued...