December 12, 2014 / 2:23 PM / 4 years ago

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.

** GOPRO INC, Thursday close $60.05, +4.21 pct premarket

J.P. Morgan upgraded the wearable camera maker’s stock to “overweight” from “neutral”. The brokerage recommends buying the “strong growth-stock at a more reasonable price ahead of catalysts”.

J.P. Morgan’s Paul Coster says the lock-up expiry on Dec. 23 is a near-term risk, but positive catalysts include stock-outs during the holiday season, the CES in early January, strong fourth-quarter results and product launches in international markets, especially China.

** A. H. BELO CORP, Thursday close $12.19, +5.00 pct premarket

The news publisher’s said on Thursday it would pay a special cash dividend of $2.25 per share on Jan. 14, 2015.

** NU SKIN ENTERPRISES INC, Thursday close $42.94, -4.17 pct premarket

The direct seller of skincare and nutritional products, forecast 2015 profit below market expectations as it battles a stronger dollar and regulatory concerns in China, its biggest market.

** IVANHOE ENERGY , Thursday close $0.85, -14.12 pct premarket

The Canadian oil and gas company flagged “going concern” doubts on Friday and said it was exploring a possible sale. The company said it could default on an interest payment of about C$2.1 million ($1.8 million) due on Dec. 31. ($1 = C$1.16)

** CHEMOCENTRYX INC, Thursday close $4.49, +94.65 pct premarket

The company said its experimental drug met the main goal of reducing excessive protein in urine in diabetics with progressive kidney disease after 52 weeks.

** ONCOTHYREON INC, Thursday close $1.71, +12.87 pct premarket

** ARRAY BIOPHARMA INC, Thursday close $4.9, +1.22 pct premarket

Array BioPharma sold the rights to its breast cancer drug ONT-380 to Oncothyreon for $20 million upfront. Oncothyreon is to pay Array a significant portion of any payments received from sub-licensing the rights. Array will be eligible for up to $280 million in commercial milestone payments if Oncothyreon is acquired within three years of the new agreement.

** GOODRICH PETROLEUM CORP, Thursday close $4.26, -8.45 pct premarket

J.P. Morgan cut its rating to “underweight” on the oil and gas exploration and production company, according to Goodrich said on Wednesday that it would spend much less on exploration and production next year due to falling oil prices.

** TALISMAN ENERGY INC, Thursday close $3.69, +28.73 pct premarket

Spanish energy company Repsol SA is finalizing 4 billion euro bid for Talisman, Spanish newspaper Expansion said. The bid could be at around C$6 per share, or C$6 billion, the newspaper said citing sources.

** CENTENE CORP, Thursday close $98.9

The health insurer forecast better-than-expected sales and profit for 2015 as it signs on more Medicaid members. The company, which provides services to government-sponsored healthcare programs, said it expects to earn $5.05 to $5.35 per share next year.

** TESLA MOTORS INC, Thursday close $208.88, -1.96 pct premarket

The U.S. electric car maker said its China president, Veronica Wu, had resigned, without giving a reason for her departure. The company said Tom Zhu, who now heads Tesla’s charging network development in China, would take over the role.

** GOOGLE INC, Thursday close $532.11, -0.54 pct premarket

The internet giant has plans to shut down its engineering office in Russia amid a crackdown on internet freedoms and a law regarding data-handling practices, the Wall Street Journal reported.

Separately, technology company Max Sound Corp said it filed a lawsuit against Google and YouTube in Germany earlier this month, alleging infringement of a video-streaming patent.

** SONY CORP , Thursday close $20.74, -0.53 pct premarket

Sony Pictures Entertainment Co-Chairman Amy Pascal apologized on Thursday for “insensitive” jokes she made about President Barack Obama in emails that were stolen by hackers who recently attacked the studio’s computer network. Sony Pictures is a unit of Japan’s Sony Corp.

** BAIDU INC, Thursday close $229.23, -0.73 pct premarket

The search engine will invest in taxi-hailing app maker Uber Technologies Inc, a person familiar with the matter said on Friday, making it the latest Chinese Internet firm to take an interest in the flourishing market for transportation apps.

** ACTAVIS PLC, Thursday close $263, -2.09 pct premarket

A U.S. judge said in a preliminary injunction on Thursday that Actavis must continue to sell its Alzheimer’s drug after a lawsuit alleged the company was trying to limit generic competition while it launched an extended-release version of the widely used medicine.

** UNITED TECHNOLOGIES CORP, Thursday close $114.04, -2.22 pct premarket

The Otis elevator maker’s new chief executive on Thursday forecast 2015 profit below Wall Street’s target as profit falls at its Pratt & Whitney jet engine business, and said there were “no sacred cows” with the conglomerate’s businesses.

** FIAT CHRYSLER AUTOMOBILES, Thursday close $11.18, +0.45 pct premarket

The automaker said the banks underwriting its mandatory convertible bond and share offer have exercised overallotment options, bringing the total proceeds to about $3.89 billion.

** LAS VEGAS SANDS CORP, Thursday close $55.86, +0.00 pct premarket

A February 2014 cyber attack against the casino operator crippled thousands of servers across the company’s network by wiping them with highly destructive malware, Bloomberg Businessweek reported on Thursday.

** SEAWORLD ENTERTAINMENT INC, Thursday close $16.09, +3.05 pct premarket

The troubled theme park operator said Jim Atchison would step down as chief executive, and it would cut some jobs. SeaWorld did not say how many jobs it would cut as part of its restructuring plan aimed at saving about $50 million by the end of 2015.

** SANOFI SA , Thursday close $46.21, -0.67 pct premarket

Former Wyeth chief executive Bernard Poussot looks to be out of the running to take over as the next boss of the French drugmaker, as Swiss rival Roche Holding AG said on Friday he was joining its board.

** ENI SPA , Thursday close $35.26, -0.74 pct premarket

The Italian oil major has put the sale of its stake in Saipem on hold after the cancellation of the lucrative South Stream gas pipeline project and plunging oil prices shaved off almost half the oil contractor’s market value in two months.

** DREAMWORKS ANIMATION SKG INC, Thursday close $21.71

The Hollywood studio said Hearst Corp has bought a 25 percent stake in its YouTube teen network, Awesomeness TV, for $81.25 million. Hearst Corp is a publisher of newspapers such as the San Francisco Chronicle and Houston Chronicle and Hearst magazines and also operates television channels. (Compiled by Lehar Maan in Bengaluru; Editing by Simon Jennings)

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