Tomahawk, WI 10/14/2011 (PennyPayDay) – Depomed disappointed with the clinical results of a late-stage trial of Serada, its proposed drug to treat menopausal hot flashes.Shares were plunging 24.8% to $4.72 in premarket trading Friday.
Internet search giant Google said third-quarter adjusted net income increased to $3.18 billion, or $9.72 a share, well above earnings of $2.46 billion, or $7.64 a share, the same period last year.
Adjusted revenue -- excluding traffic acquisition costs -- jumped 37% to $7.51 billion.
Analysts expected Google to post adjusted earnings of $8.74 a share on revenue of $7.20 billion.
Shares were gaining 7.1% to $598.77.
Consumer goods giant Unilever agreed to buy OAO Concern Kalina in a deal that values the Russian cosmetics company at $694 million.
Unilever was higher by 2.6% to $33.54.
SAP, the German maker of business software, said Friday that third-quarter underlying profit rose 23% from a year earlier and it's sticking with previous guidance for full-year 2011.
Operating profit on a non-IFRS basis was €1.13 billion ($1.56 billion) vs. €915 million a year earlier. Total revenue jumped 12% to €3.41 billion, while software and software-related service revenue rose 14% to €2.69 billion.
SAP said it expects full-year non-IFRS software and software-related service revenue to increase between 10% and 14% at constant currencies from last year's €9.87 billion, but expects to reach the high end of the range. Non-IFRS operating profit for 2011 should come in a €4.45 billion to €4.65 billion -- SAP again said it expects to reach the high end of the range -- from €4.01 billion in 2010.
SAP was adding 2.4% to $57.50.
Apple's iPhone 4S hits stores Friday.
Shares were rising 2.2% to $417.36.
Microchip Technology lowered its second-quarter earnings expectations to a range of 45 cents to 47 cents a share, down from the previous expectations of a range of 50 cents to 54 cents a share.
Shares were down 1.9% to $34.64.
Toy company Mattel reported third-quarter profit of 86 cents a share, in line with estimates.
The company also said it will increase its previously announced share buyback program by $500 million.
Shares were down 0.7% to $27.60.
Retailer Gap plans to close 189 stores in North America by the end of 2013 and will expand in China.
Activist investor Carl Icahn has taken a 9.8% stake in truck, bus and diesel engine maker Navistar after not previously holding a position, according to a regulatory filing late Thursday.
Theater advertising and events company National CineMedia lowered its full-year revenue outlook to a range of $425 million to $435 million, down from the prior outlook of $460 million to $470 million.
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