(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks were modestly lower on Friday. The Dow Jones industrial average was down 0.12 percent at 15,720.6, the S&P 500 was down 0.16 percent at 1,772.67 and the Nasdaq Composite was up 0.03 percent at 3,999.6.
** INTEL CORP, $24.37, -0.41 pct
** GOOGLE INC, $1,071.3101, +0.13 pct
Google is considering designing its own server processors using technology from British chip designer ARM Holding, Bloomberg reported, citing a person with knowledge of the matter. (r.reuters.com/gaq45v)
The move could threaten Intel’s market dominance since Google is Intel’s fifth largest customer, according to the report.
** MICROSOFT CORP, $36.79, -1.16 pct
** QUALCOMM INC, $73.045, +0.43 pct
Chipmaker Qualcomm named Chief Operating Officer Steve Mollenkopf as its chief executive-elect.
Microsoft was considering Mollenkopf as a candidate for its new CEO, Bloomberg News reported on Thursday.
** ADOBE SYSTEMS INC, $59.37, +9.96 pct
The maker of Photoshop and Acrobat software forecast current-quarter results below analysts’ estimates but reported a 22 percent jump in the number of subscribers to its Creative Cloud suite from the preceding quarter.
** ANADARKO PETROLEUM CORP, $76.51, -8.56 pct
** TRONOX LTD, $22.47, +6.14 pct
Anadarko and its Kerr-McGee unit acted with “intent to hinder” when they spun off Tronox, the paint materials company that later went bankrupt, and should pay billions of dollars in environmental cleanup costs, a judge ruled on Thursday.
Judge Allan Gropper said damages could range between about $5 billion and more than $14 billion, in the decision handed down late Thursday afternoon in U.S. Bankruptcy Court in Manhattan.
** ATOSSA GENETICS INC, $2.28, -17.09 pct
The U.S. Food and Drug Administration said that a nipple fluid test is not an effective screening tool for breast cancer, and that mammography is the best way to detect the disease in its earliest, most treatable stages.
Atossa, which makes a nipple fluid test, was issued a warning letter by the FDA earlier this year about the device and its process. The company recalled the product in October.
** ADAMIS PHARMACEUTICALS CORP, $6.1499, +1,236.93 pct
The company said it completed a 1-for-17 reverse split of its common stock effective immediately.
Adamis, which develops treatments for cancer, allergy and respiratory diseases, also said a public offering of 3.7 million of its shares has been priced at $5.95 per share.
** CORONADO BIOSCIENCES INC, $2.4199, +35.95 pct
The company said on Thursday that a clinical trial of its experimental therapy for autism showed the medicine was better than a placebo on three standard measures that test the severity of the symptoms.
The study, which has enrolled 10 patients, is still ongoing and final results are expected in the middle of 2014.
** INSYS THERAPEUTICS INC, $36.18, -19.80 pct
The company said it received a subpoena from the Department of Health and Human Services (HHS) in connection with an investigation of potential violations involving HHS programs.
The subpoena requires the company to submit documents related to its cancer pain treatment, Subsys, including details on Subsys sales and marketing practices.
** AVEO ONCOLOGY, $1.57, -16.49 pct
The company said its lead experimental drug was unlikely to succeed in a mid-stage colon cancer study that was testing if the drug was superior to an approved treatment.
** ELECTRONIC ARTS INC, $22.33, +6.49 pct
Three of the video game publisher’s games were among the top ten games sold in the United States last month, according to the monthly sales report put out by research firm NPD Group.
** TEXAS INDUSTRIES INC, $65.4, +11.72 pct
** VULCAN MATERIALS CO, $56.31, +3.49 pct
Construction material supplier Texas Industries’ owners are exploring a sale of the company and are working with Citigroup to find a buyer, Bloomberg reported on Thursday, citing three people with knowledge of the matter.
TXI, which has a market valuation of $1.67 billion, may draw interest from U.S. competitor Vulcan and Switzerland’s Holcim Ltd, the news agency quoted one of the people as saying.
** CELSION CORP, $4.26, +19.33 pct
The company said its experimental lead drug, Thermadox, in combination with hyperthermia showed positive activity in patients with a recurring form of breast cancer in two early-stage studies.
Based on the results from these two studies, Celsion is enrolling up to 20 patients in a mid-stage study, the company said in a statement.
** RICEBRAN TECHNOLOGIES, $4.3, -21.82 pct
The company, which makes food ingredient and animal nutrition from rice bran, priced an offering of 1.7 million shares at $5.24 per share, a discount of 5 percent to the stock’s closing on Thursday. The company also priced a warrant offering which may be exercised for a period of five years at $6.55 per underlying share.
The company expects net proceeds of about $7.7 million.
** UNITED TECHNOLOGIES CORP, $107.02, -0.99 pct
The world’s largest maker of elevators and air conditioners on Thursday forecast earnings would rise 7 percent to 11 percent next year, barely meeting analysts’ targets, and gave a revenue view that fell short of Wall Street expectations.
** FIDELITY & GUARANTY LIFE, $18.63, +9.59 pct
Shares of the insurer, controlled by billionaire Philip Falcone’s Harbinger Group Inc, rose as much as 12 percent in their market debut, valuing the company at about $1.07 billion.
The company priced its offering of 9.8 million shares at $17 per share, raising $166.6 million.
** RESPONSE GENETICS INC, $1.17, -11.36 pct
The molecular diagnostics company said it would offer about 4.4 million of its shares at $1.20 per share, to raise net proceeds of about $4.8 million for use in general corporate purposes. The pricing was at a discount to the stock’s close on Thursday.
** AMAZON.COM INC, $387.12, +1.54 pct
Brokerage ISI Group upgraded the e-retailer’s stock to “strong buy” from “buy”, according to Theflyonthewall.com.
** PRETIUM RESOURCES INC, $5.77, +3.41 pct
The Canadian company said gold output from a sample production program at its flagship gold exploration project topped its target by about 47 percent.
** XOMA CORP, $5.425, -4.15 pct
The company said it plans to offer 9.5 million shares of its common stock at $5.25 per share, to fund the clinical development of its experimental drug gevokizumab and its diabetes treatment XMet, and for general research and development purposes.
** QUEST DIAGNOSTICS, $54.24, +0.80 pct
** LABORATORY CORP OF AMERICA HOLDINGS, $89.17, +1.62 pct
Laboratory services provider Quest raised the lower end of its 2013 adjusted earnings forecast on Thursday, just days after peer LabCorp cut its full-year earnings forecast.
** SIMON PROPERTY GROUP INC, $152.54, +2.81 pct
The largest owner of U.S. malls and outlet centers said on Friday it would spin off its strip malls and smaller shopping centers into a publicly traded REIT to focus on its larger retail properties.
** DARLING INTERNATIONAL INC, $19.16, +1.92 pct
The bakery waste recycler priced an offering of 40 million shares at $19 per share, a discount of 5 percent to the stock’s closing of $20 per share on Thursday. The company intends to use part of the proceeds to finance its acquisition of VION ingredients from VION Holding N.V.
** AMTRUST FINANCIAL SERVICES, $34.38, +2.11 pct
The insurer said “the fundamental outlook for the company remains positive.” AmTrust said it was responding to negative comments in a report circulated by parties who would benefit if the company’s stock declined.
“AmTrust’s financial position has never been stronger,” CEO Barry Zyskind said in a statement on Thursday.
** BRISTOL-MYERS SQUIBB CO, $50.2, -0.69 pct
** ASTRAZENECA, $57.11, +1.13 pct
A new type of diabetes drug from Bristol-Myers and AstraZeneca has been endorsed by U.S. medical experts, two years after it was rejected by regulators because of safety concerns.
** RESTORATION HARDWARE HOLDINGS INC, $62.5, -4.24 pct
The luxury furniture retailer said its co-chief executive, Carlos Alberini, had resigned, effective Jan. 31. The company said Alberini would join Lucky Brand, the jeans label which Fifth & Pacific Cos Inc said it would sell to private equity firm Leonard Green & Partners LP. (Compiled by Avik Das in Bangalore; Edited by Savio D‘Souza)