(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) Wall Street opened sharply lower on Friday, with the major indexes falling 1 percent or more, on investor concerns over a clamp-down on margin trading in China and a number of disappointing earnings reports from U.S. corporations. The Dow Jones industrial average was down 1.35 percent at 17,861.77 and the S&P 500 was down 0.99 percent at 2,084.09.
** SUPERTEL HOSPITALITY INC, $3.18, +66.49 pct
The real estate investment trust said it sold two Savannah suites hotels in Georgia this month for $7.8 million. The company said it invested $4.1 million of the proceeds in GE Capital mortgage note that matures in December.
** ADVANCED MICRO DEVICES INC, $2.48, -13.59 pct
The U.S. chipmaker reported a bigger-than-expected adjusted loss and a steep fall in sales for the first quarter and said it expected weak demand for personal computers to continue for some time.
** ATHERSYS INC, $1.295, -40.60 pct
The drug developer said its cell therapy failed in a mid-stage study testing it as a treatment for a type of stroke, sending its shares down more than 50 percent in premarket trading.
** GENMARK DIAGNOSTICS INC, $10.63, -17.47 pct
Analysts at Raymond James cut their price target on the medical test maker’s stock to $14.50 from $15.50, a day after the company pushed the European launch of its ePlex test to the fourth quarter of 2015 from mid-2015.
** CELANESE CORP, $67.17, +15.53 pct
The chemical products maker reported a higher-than-expected profit for the first quarter and raised its 2015 adjusted profit forecast.
** PROFESSIONAL DIVERSITY NETWORK INC, $3, -27.71 pct
The internet software and services company priced its offering of 1.7 million shares at $3 per share.
** DISCOVERY LABORATORIES INC, $1.1401, -17.38 pct
The specialty biotech said on Thursday it was implementing a plan to cease the sale of its sole drug on market, Surfaxin. It will also reduce its workforce by about 50 percent and expects to record a restructuring charge of about $3.5 million in the second quarter.
** CHEROKEE INC, $22.88, +12.60 pct
The apparel, footwear, and accessories brand licensor reported a better-than-expected profit and sales for the fourth quarter, helped by higher royalties from its Tony Hawk, Cherokee, and Liz Lange brands.
** NOVOGEN LTD, $7.464, +7.55 pct
The biotechnology company tied up with the Feinstein Institute for Medical Research of New York to develop a drug that treats brain cancer.
** ONCOLYTICS BIOTECH INC, $0.7603, +10.17 pct
The Canadian cancer drug developer said its experimental drug, Reolysin, got orphan drug status from the U.S. FDA.
** PROS HOLDINGS INC, $23.15, -14.73 pct
The software maker cut its first quarter revenue forecast to $44.3 million-$48.2 million from $47 million-$49 million.
** SERVICENOW INC, $70.78, -14.56 pct
The IT software maker forecast second-quarter revenue of $232 million-$242 million vs average analyst estimate of $242 million, according to Thomson Reuters I/B/E/S.
** GENERAL ELECTRIC CO, $27.38, +0.37 pct
The U.S. conglomerate said on Friday its quarterly industrial profit rose 9 percent as it focuses more on its manufacturing businesses, helped by improved profit margins.
** ROSETTA GENOMICS LTD, $4.07, +7.67 pct
Cantor Fitzgerald raised its rating on the Israeli diagnostic company’s stock to “buy” from “hold”, citing the company’s acquisition of Abbott Laboratories’ cancer diagnostic testing lab, PersonalizeDx.
** AKEBIA THERAPEUTICS INC, $8.15, -6.00 pct
The drug developer priced its stock offering of 7.3 million shares at $8.25 per share, a discount of 5 percent to the stock’s Thursday close.
** CYTRX CORP, $5.077, +12.82 pct
Analysts at Oppenheimer & Co started coverage on the drug developer with an “outperform” rating. Analysts said they see new indications for the company’s experimental cancer drug, including small-cell lung cancer and glioblastoma, as potential upside.
** IGATE CORP, $44.67, +5.50 pct
France-based Cap Gemini SA and Atos SE are in talks to acquire iGate, Indian newspaper Business Standard reported, citing sources.
** MAGNEGAS CORP, $0.71, -4.05 pct
The alternative fuel maker said an accident at its Tarpon Springs facility in Florida led to the death of an employee and another employee has been hospitalized.
** RXI PHARMACEUTICALS CORP, $0.73, +4.29 pct
The drug developer said U.S. Food and Drug Administration granted orphan drug status for company’s experimental drug, Samcyprone, to treat a serious type of skin cancer.
** HUDSON CITY BANCORP INC, $44.67, +5.50 pct
** M&T BANK, $121.13, -1.69 pct
Hudson City and M&T Bank extended the date to complete proposed merger to Oct. 31 from April 30. The deal, which was announced in 2012, was expected to close in second quarter of 2013 but was stalled after Federal Reserve raised concerns over M&T Bank’s anti-money laundering procedures.
** AMERICAN EXPRESS CO, $77.6, -4.09 pct
At least four brokerages cut their price targets on the world’s largest credit card issuer’s stock after the company reported quarterly revenue that fell short of analysts’ estimates, hurt by a stronger dollar and the loss of several co-branded tie-ups.
** MATTEL INC, $27.09, +7.20 pct
The toymaker’s quarterly net sales topped analysts’ estimates for the first time in six quarters as new Chief Executive Christopher Sinclair focuses on turning around the business in the face of flagging sales of Barbie dolls.
** ZUMIEZ INC, $32.948, -5.21 pct
Analysts at B. Riley downgraded the sports apparel, footwear and equipment retailer’s stock to “neutral” from “buy” and cut their price target to $40 from $44, citing weaker-than-expected showing in March.
** BRISTOL-MYERS SQUIBB CO, $65.54, +2.92 pct
A large study of the drugmaker’s Opdivo treatment has been halted after proving the drug is effective against the most common form of lung cancer, the company said, positioning the medicine for far wider use than its already approved lung cancer and melanoma indications.
** CYTEC INDUSTRIES INC, $56.42, +2.99 pct
The chemical products maker reported a better-than-expected profit for the first quarter from continuing operations, helped by higher operating margins.
** SONY CORP, $30.04, -3.35 pct
Sony’s Sony Pictures Entertainment objected to the online release by WikiLeaks on Thursday of a searchable database of more than 30,000 documents that were obtained by hackers in a massive cyber attack last year. (Reporting by Anannya Pramanick in Bengaluru, Edited by Maju Samuel)