Among the companies with shares expected to actively trade in
Friday's session are Adobe Systems Inc. (ADBE), VeriFone Systems
Inc. (PAY) and Alexza Pharmaceuticals Inc. (ALXA).
Adobe's fiscal fourth-quarter earnings rose 28% as subscriptions
for creative services grew ahead of expectations, overhead costs
came in lower and the year-earlier period included restructuring
charges. Shares climbed 5.3% to $37.40 premarket.
VeriFone's fiscal fourth-quarter profit sank 86% as the
electronic-payments company logged a significant income tax benefit
last year, though revenue continued to improve. Shares dropped 7.4%
premarket to $30.78 after the company predicted downbeat
first-quarter results and missed its revenue guidance in the latest
quarter.
Alexza Pharmaceuticals and Grupo Ferrer Internacional SA said
the Committee for Medicinal Products for Human Use adopted a
positive opinion on recommending European marketing of
schizophrenia and bipolar disorder treatment Adasuve, a win for the
small drug maker. Alexza shares jumped 24% to $6.50 premarket.
Goldman Sachs initiated coverage of TiVo Inc. (TIVO) with a buy
rating and $15 price target, saying in a note to clients that it
views "TiVo as a leading vendor well positioned to target consumers
who desire a premium viewing experience in the digital living room
and on mobile devices." The investment bank also notes improving
churn for the company's TiVo-owned subscribers, along with research
and development cost controls as two other pluses. Shares rose 4.6%
to $13 premarket.
Isis Pharmaceuticals Inc. (ISIS) and Genzyme, a Sanofi (SNY,
SAN.FR) business, said the Committee for Medicinal Products for
Human Use adopted a negative opinion for its marketing
authorization of the cholesterol drug Kynamro, a setback for the
treatment. Isis shares dropped 8.6% to $8.78 premarket.
Cytori Therapeutics Inc. (CYTX) plans to offer an undisclosed
number of shares, subject to market conditions. The company
develops cell therapies to treat heart disease. Shares fell 14% in
premarket trading to $2.85.
LaSalle Hotel Properties (LHO) said it plans to offer seven
million shares in an effort to help fund future hotel acquisitions,
including the possible purchase of a hotel in a major U.S. market,
and to pay down debt. The real-estate investment trust recently had
around 86.3 million shares outstanding, according to FactSet.
Shares fell 3.5% to $23.69 premarket.
Renewable oil and bioproducts company Solazyme Inc. (SZYM)
announced the successful completion of multiple initial
fermentations at ADM's Clinton, Iowa facility. Shares surged 15% to
$9.35 premarket.
Watchlist:
Amgen Inc.'s (AMGN) board has raised its dividend by 31% for the
first quarter of next year and authorized an additional $2 billion
for share repurchases, as the drug company looks to boost
shareholder value.
For-profit educator Apollo Group Inc. (APOL) said its founder
will retire from the role of executive chairman of the board at
year's end, and will be replaced by his son.
AVG Technologies NV (AVG) said it reached a
search-and-distribution agreement with Yahoo Inc. (YHOO) that the
Amsterdam-based Internet and mobile security provider said will
increase search-provider choices for its customers.
Bank of America Corp. (BAC) said Thursday it had sued MBIA Inc.
(MBI) in a New York court and accused the mortgage-bond insurer of
defaulting on its debt.
CorpBanca S.A. (BCA), a Chilean bank, is offering 10.7 billion
shares, including American depositary shares, and its shareholder
Fernando Aguad Dagach is offering an additional 1.34 billion
shares, including ADS. The company intends to use the proceeds to
help fund an acquisition.
Fitch Ratings cut First Horizon National Corp.'s (FHN) credit
rating a notch, as the Tennessee bank's profits come under pressure
from low interest rates and mortgage buybacks.
Drug developer Lpath Inc. (LPTN) intends to offer an undisclosed
number of shares.
Nasdaq OMX Group Inc. (NDAQ) has named Borje E. Ekholm as
chairman after serving seven months in the interim post.
Nordson Corp.'s (NDSN) fiscal fourth-quarter profit rose 24% as
the maker of dispensing equipment saw broad-based sales growth,
helped by recent acquisitions.
Progress Software Corp. (PRGS) said Chief Financial Officer
Melissa H. Cruz plans to retire next year for health reasons. The
news comes three days after the software company named a new chief
executive.
Quiksilver Inc.'s (ZQK) fiscal fourth-quarter earnings slumped
94% as the sports outfitter reported significantly lower income-tax
benefits and weaker margins, masking growth in sales. The company's
results missed analysts' expectations.
Spartech Corp.'s (SEH) fiscal fourth-quarter loss narrowed as
the company reported fewer expenses, though revenue also
declined.
United Continental Holdings Inc.'s (UAL) board has named
President and Chief Executive Jeff Smisek as chairman, effective
Dec. 31, as part of the 2010 merger agreement between United
Airlines and Continental Airlines.
United Technologies Corp. (UTX) expects a 10% to 16% rise in
earnings per share and a 10% to 12% rise in sales in 2013, the
first full year that will reflect its $16.5 billion acquisition of
aircraft component maker Goodrich.
Gold mining company Vista Gold Corp. (VGZ, VGZ.T) is planning to
offer an undisclosed number of shares and warrants.
Casino operator Wynn Resorts Ltd. (WYNN) is seeking to remove
Kazuo Okada, a former business partner of Chief Executive Steve
Wynn, from its board amid a continuing dispute.
Write to Anna Prior at anna.prior@dowjones.com
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