Take a look at some of Friday's morning movers:
JPMorgan Chase - CEO Jamie Dimon says the bank suffered a
Arena Pharmaceuticals - A U.S. Food and Drug Administration advisory panel recommended approval of the company’s obesity drug. If approved, it would be the first new treatment in that category to hit the market in more than 10 years. We might also see a spillover effect on Orexigen , which is also trying to bring a weight loss drug to market.
Nvidia - The chipmaker reported first-quarter profit of $0.16 per share, excluding certain items, six cents above estimates, with revenues and its second quarter sales forecast also beating estimates. The company credits the success of its newly launched desktop products among the factors helping its bottom line.
Nordstrom - The retailer earned $0.70 per share for the first quarter, five cents below estimates. It said expenditures on developing its e-commerce business were a key factor during the quarter, and that such expenditures for the rest of this year would be higher than previously thought.
Lam Research - The semiconductor equipment maker's stock will be added to the S&P 500 index when its deal to acquire current index member Novellus Systems is completed. In a similar move, Tempur-Pedic is being added to the S&P MidCap 400 when it closes its purchase of current index member ABB Ltd.
GameStop - The videogame retailer has preannounced fiscal first-quarter earnings of $0.54 per share, one cent above estimate, but also says same-store sales will be down 12.5 percent. GameStop cites slower-than-expected store traffic as a result of no significant game launches.
Videogame makers like Electronic Arts and Activision Blizzard may be impacted following NPD’s report that retail sales of videogame hardware and software were down 32 percent in April compared to a year earlier.
Yahoo - Chief Executive Officer Scott Thompson has reportedly told internal investigators that he
Gilead Sciences - An FDA advisor panel has recommended approval for Gilead's drug Truvada for use by healthy people at risk of contracting HIV. Truvada is already on the market as a treatment for those infected with HIV.
AT&T, Verizon Communications - Credit Suisse has upgraded both stocks to "outperform" from "neutral," and increased price targets for both. The firm says both have shown new discipline regarding pricing and subsidies.
Leap Wireless - Reuters reports that
—By CNBC’s Peter Schacknow
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