BUZZ-U.S. Stocks on the Move-Goodrich, Ivanhoe, Talisman, Adobe
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U.S. stocks were set for a lower open on Friday, putting the benchmark S&P 500 on track to snap seven straight weeks of gains, after oil prices fell and Chinese data disappointed. Dow Jones industrial average futures were down 0.58 percent at 17,472, S&P 500 futures were down 0.48 percent at 2,021.25 and Nasdaq 100 futures were down 0.55 percent at 4,213.
** ADOBE SYSTEMS INC, Thursday close $69.74, +5.97 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, -3.92 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...