Among the companies with shares expected to actively trade in
Friday's session are Morgan Stanley (MS), pSivida Corp. (PSDV,
PVA.AU) and Ariad Pharmaceuticals Inc. (ARIA).
Morgan Stanley swung to a third-quarter profit, solidly beating
analyst estimates, as strong results in the company's wealth
management business helped offset a slump in fixed-income trading
revenue. Shares jumped 3.7% to $30 in premarket trading.
Specialty pharmaceutical firm pSivida said the U.S. Food and
Drug Administration didn't approve a treatment for an eye disease
found in patients with diabetes. The company's stock tumbled 47% to
$2 premarket, while shares of Alimera Sciences Inc. (ALIM) were
down 39% to $1.66, as the treatment is licensed and sold by Alimera
in other markets.
Ariad will discontinue its Phase 3 trial of Iclusig, which was
placed on clinical hold by the U.S. Food and Drug Administration
last week after follow-ups found some patients treated with the
drug suffered from serious arterial thrombosis or other conditions.
Shares slumped 30% to $3.15 premarket.
General Electric Co.'s (GE) third-quarter earnings fell 8.6% as
the conglomerate's financial unit posted weaker revenue and
restructuring charges hurt results, though the industrial
business's results continued to strengthen. Shares rose 2.6% to
$25.30 premarket, as profit exceeded expectations.
Google Inc. (GOOG) posted a 12% increase in third-quarter
revenue, as it tries to keep pace with its users' shift to mobile
devices. The Internet-search company Thursday said net income rose
36% amid several new initiatives to raise the price marketers pay
for advertisements on smartphones and other mobile devices. Shares
were up 9.5% to $973.01 in premarket trading as earnings and
revenue beat expectations.
Chipotle Mexican Grill Inc.'s (CMG) third-quarter earnings
jumped 15% as the burrito chain reported more customers visited its
restaurants, boosting sales to help offset some food cost
pressures. In premarket trading, shares climbed 7.7% to $473, as
sales topped expectations.
Advanced Micro Devices Inc. (AMD) posted a quarterly profit for
the first time since early 2012, but the chip maker sounded less
optimistic about the current period than some analysts expected.
Shares fell 11% premarket, to $3.65.
Shares of Acacia Research Corp. (ACTG) tumbled after the
developer and acquirer of patented technologies issued
third-quarter results that badly missed Wall Street expectations.
The stock was down 19% to $15.80 premarket.
Watch List:
Align Technology Inc. (ALGN) swung to a third-quarter profit as
the maker of Invisalign braces reported a 15% jump in shipments,
which lifted revenue. Results for the period easily topped the
expectations Align outlined in July.
Baker Hughes Inc.'s (BHI) third-quarter earnings rose 22% as the
oil field services company's North American segment logged stronger
results.
Cepheid's (CPHD) third-quarter loss narrowed as the maker of
molecular tests for the health-care industry posted a jump in sales
and the year-ago period was weighed down by a litigation settlement
charge.
HCA Holdings Inc. (HCA) on Thursday issued strong guidance for
its third-quarter earnings, citing growth in revenue and facility
admissions.
Honeywell International Inc.'s (HON) third-quarter profit rose
4.2%, helped by an acquisition boost in the industrial
conglomerate's performance-materials business and stronger
automation unit sales.
Ingersoll-Rand PLC's (IR) third-quarter earnings fell 48% as the
diversified industrial company's results were hurt by impairment
and restructuring charges, though revenue and core profits
improved.
Interpublic Group Of Cos.' (IPG) third-quarter earnings sank 33%
as the advertising firm took a charge for buying back some debt
early, though overall revenue improved.
Intuitive Surgical Inc.'s (ISRG) third-quarter earnings fell 14%
on a continued weakening of procedure-growth trends and sales of
its flagship da Vinci surgical-robots.
Iron Mountain Inc. (IRM) acquired Cornerstone Records Management
for about $191 million in cash, increasing its core
information-storage business, particularly with additional small
and mid-sized customers.
Kansas City Southern's (KSU) third-quarter earnings rose 31% as
the regional railroad operator reported revenue growth across all
of its segments, led by gains in intermodal revenue.
Laboratory Corp. of America Holdings (LH) disclosed Chief
Financial Officer Brad Hayes is retiring from the company next
year, as the medical-testing services provider also said it
authorized an additional $1 billion share repurchase plan. The news
came as LabCorp reported its third-quarter profit inched up 0.2% as
higher testing volume offset rising costs.
Las Vegas Sands Corp.'s (LVS) third-quarter earnings jumped 79%
as the casino and resort operator recorded a surge in revenue,
particularly at its Macau operations.
Occidental Petroleum Corp. (OXY) unveiled plans to divest some
of its assets, including reducing its stake in Plains All-American
Pipeline LP (PAA), in an effort to streamline the energy producer's
business.
Stryker Corp.'s (SYK) third-quarter earnings fell 71% as the
medical device maker was hit by a big charge related to product
recalls and other items.
SunTrust Banks Inc.'s (STI) third-quarter earnings fell 82% as
the regional bank posted higher expenses resulting from a recent
settlement agreement.
Textron Inc.'s (TXT) third-quarter profit slid 34% as the
aircraft and industrial product maker delivered far fewer Cessna
planes than a year ago, and as labor disruptions hurt profitability
at the Bell helicopter business.
Write to John Kell at john.kell@wsj.com
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