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U.S. stocks receded from record levels on Friday as investors locked in profits after the October payroll report came in weaker than expected, even as the report pointed to economic resilience in the face of slowing global demand. Dow Jones industrial average futures were up 0.02 percent at 17,508, S&P 500 futures were up 0.10 percent at 2,030 and Nasdaq 100 futures were down 0.14 percent at 4,157.
** WALT DISNEY CO, $89.39, -2.84 pct
The media and theme park giant posted a quarterly profit that fell in line with Wall Street expectations as it rode the blockbuster performance of its movie box office hits “Maleficent” and “Guardians of the Galaxy.”
But operating income at its sports behemoth ESPN fell due to higher contract rates for high-end National Football League and Major League Baseball games, which helped drag the company’s cable networks unit down by 1 percent to $1.3 billion.
The drop at cable networks, the company’s largest unit, likely drove Disney shares lower, said Gabelli & Company analyst Brett Harriss, who rates Disney a “hold.”
** TRANSOCEAN LTD, $29.45, -1.57 pct
The rig contractor expects to incur impairment charges of $2.76 billion in the third quarter as it grapples with an oversupplied offshore drilling market, and said it would delay its quarterly results.
** SALIX PHARMACEUTICALS LTD, $87.4, -36.92 pct
The drugmaker slashed its full-year forecast on Thursday and said inventory for its key drugs piled up, an issue that people familiar with the matter said dissuaded Allergan Inc from acquiring it.
** REPROS THERAPEUTICS INC, $9.6101, +48.99 pct
The drug developer said the U.S Food and Drug Administration did not ask for additional clinical studies from the company for approval of its testosterone replacement drug.
** ZYNGA INC, $2.4899, +5.50 pct
The maker of “Farmville” reported better-than-expected third-quarter results as it set its mobile gaming push in motion with releases such as “New Words with Friends.”
** FIRST SOLAR INC, $51.64, -8.46 pct
The solar company’s third quarter profit fell to 87 cents per share from $1.94 a year earlier, hurt by lower sales and higher tax expenses. At least four brokerages cut price targets on the stock after First Solar said it would not spin off its solar power plants into separate, publicly traded entity called a “yield co”.
** CTI BIOPHARMA CORP, $2.01, -14.83 pct
The drug developer priced its public offering of 35,000 convertible preferred shares at $1,000 each.
** FRESHPET INC, $19.83, +32.20 pct
Shares of the pet food maker rose as much as 35 percent in their trading debut on Friday as investors rushed to grab a piece of the company expected to benefit from rising pet ownership and spending on pet food in the United States.
** GENWORTH FINANCIAL INC, $7.92, -8.55 pct
The life and mortgage insurer life insurance business was downgraded by the credit agencies. Genworth said late on Thursday that it was “disappointed that certain rating agencies took negative actions regarding our ratings at this time”, adding that the changes in ratings or outlook are expected to reduce sales of some of its products.
** DAVITA HEALTHCARE PARTNERS INC, $74.38, -4.68 pct
The dialysis clinic operator warned of a “real risk that 2016 operating income could be lower than 2015”, citing Medicare reimbursement and the commercial pay environment.
Deutsche Bank cut its price target on the stock to $79 from $83.
** NOODLES & CO, $24.41, -5.20 pct
The company’s shares were sold by an unknown existing shareholder. Sources citing Morgan Stanley said 1.52 million shares were priced at $24.95, a 3 percent discount to Thursday’s close.
The company will not receive any proceeds from the offering, which represents about 5 percent of shares outstanding.
** EATON VANCE CORP, $43.79, +16.71 pct
The U.S. Securities and Exchange Commission approved the investment management firm’s application to launch a new type of exchange-traded fund that does not require it to disclose its holdings.
** UPLAND SOFTWARE INC, $10.15, +4.10 pct
The cloud-based software company’s shares fell 11.25 percent to $10.65 in a weak debut. The stock opened at $11, and sunk as low as $10.05, valuing company at $144.1 million.
** KING DIGITAL ENTERTAINMENT PLC, $13.69, +3.79 pct
The social and mobile game company reported lower non-GAAP profit on Thursday as sales from its “Candy Crush Saga” title continued to shrink.
On a non-GAAP basis, it reported third-quarter adjusted income of 56 cents per share, which was less than 70 cents per share a year ago but more than analysts’ estimate of 47 cents per share.
** ROCKWELL MEDICAL INC, $10.81, +15.86 pct
The drugmaker said on Thursday that an FDA advisory committee voted 8-3 in favor of supporting use of its iron deficiency drug to maintain hemoglobin levels in certain kidney disease patients.
** TEKMIRA PHARMACEUTICALS CORP, $16.2936, +3.39 pct
The U.S. Department of Defense has exercised an option with Canada’s Tekmira for the company to make 500 courses of its experimental treatment for Ebola, the company said on Thursday.
** AVANIR PHARMACEUTICALS INC, $12.7901, -3.18 pct
The drugmaker said it was unlikely that its experimental migraine drug-device would win U.S. Food and Drug Administration approval by the scheduled timeline.
** AVG TECHNOLOGIES NV, $18.84, +6.92 pct
The Internet security software maker valued at about $940 million was approached by potential buyers, the Wall Street Journal reported.
** ABERCROMBIE & FITCH CO, $30.74, -13.11 pct
Abercrombie & Fitch Co estimated quarterly profit and sales below analysts’ expectations, with fewer customers visiting its stores as the company struggles to move away from its signature logo-centric apparel.
** PETROLEO BRASILEIRO PETROBRAS SA, $11.02, +2.70 pct
The Brazilian state oil company raised wholesale prices of gasoline and diesel for first time in over 11 months. However, analysts consider the increase insufficient to make up for recent losses in Petrobras’ refining division.
** GENERAL MILLS INC, $51.96, -2.46 pct
The packaged foods maker cut its full-year sales and profit growth forecasts, blaming weak trends in the United States and slowing growth in emerging markets.
** CAPSTONE TURBINE CORP, $0.8596, -10.46 pct
The microturbine energy systems maker reported a second-quarter loss of 2 cents per share, bigger than the average analyst estimate of 1 cent.
** MITEK SYSTEMS INC, $3.2301, +17.46 pct
The mobile imaging software maker reported a surprise fourth quarter adjusted profit.
“The solid results were driven by continued penetration within the mobile check deposit platform, with the number of live banks increasing by 378 during the quarter,” William Blair analysts wrote in a note.
** CHINANET ONLINE HOLDINGS INC, $2.26, +7.62 pct
The Chinese advertising company said it will expand efforts to attract more clients in Fujian province in conjunction with the provincial government’s redevelopment plan.
** QIWI PLC, $29.52, -1.44 pct
Susquehanna cut its price target on the Russian payment services provider’s shares to $43 from $50.
“An about 22 pct Y/Y decrease in the USD/RUB exchange rate as well as an unclear macro environment in Russia prompt us to lower our growth assumptions,” analyst Meghna Ladha said.
** LEXICON PHARMACEUTICALS INC, $1.44, -2.70 pct
Wedbush Securities cut its price target on the drug developer’s shares to $3 from $4.
It “appears that a partnership (for the Type 2 diabetes indication) is not forthcoming and the company plans to pursue only Type 1 diabetes on their own,” Wedbush analysts wrote.
** MRC GLOBAL INC, $21.55, +6.63 pct
The distributor of pipes and fittings to the energy industry said third quarter revenue rose 23 percent, helped by higher sales in its largest market, the United States.
** UBIQUITI NETWORKS INC, $29.6324, -14.41 pct
The wireless networking equipment provider forecast second quarter revenue and adjusted profit below analysts’ average expectations.
** INTERCEPT PHARMACEUTICALS INC, $178.78, -27.61 pct
More safety trials on the drug developer’s liver disease drug are needed as mid-stage trial data shows a rise in bad cholesterol in some patients taking the drug, according to a report in medical journal, the Lancet.
** SEARS HOLDINGS CORP, $43.78, +34.01 pct
The struggling retailer said it was exploring the conversion of 200-300 stores to a real estate investment trust (REIT) and would offer it to shareholders through a rights offering to raise cash.
** ARCELORMITTAL SA, $12.61, +1.86 pct
The world’s largest steelmaker pointed to rising demand in its key markets next year and confirmed its profit forecast for 2014 on Friday, as improvements in U.S. and European steel more than offset plunging iron ore prices.
** HUMANA INC, $132.06, -5.58 pct
The U.S. health insurer reported a lower-than-expected third-quarter profit as it paid for costly hepatitis C treatments and invested in the Obamacare health insurance exchanges and state-based health contracts.
** YUME INC, $4.62, -6.67 pct
The video advertising service provider forecast fourth quarter revenue of $54 million-$58 million, well below the average analyst expectation of $62.9 million.
** ALLSCRIPTS HEALTHCARE SOLUTIONS INC, $11.605, -14.35 pct
The healthcare information technology provider reported a third-quarter profit of 6 cents per share, before special items against average estimates of 10 cents per share. (Compiled by Avik Das in Bangalore; Editing by Simon Jennings)