By Dow Jones Business News, October 18, 2013, 08:49:00 AM EDT
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
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.
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
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 email@example.com
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