9 Buzzing Stocks: First Solar Surges 7%, While Gilead Sciences Plummets 16%

Applied Materials Inc. (NASDAQ:AMAT) shares jumped more than 6 percent in morning trading.  The company reported fiscal first quarter adjusted earnings of 18 cents per share, while analysts had only expected 12 cents per share.

Shares of First Solar Inc. (NASDAQ:FSLR) surged 7 percent before the opening bell.  The company reportedly settled the permit issues that delayed the completion of funding for the Antelope Valley Solar Ranch project, intended for Exelon Corp. (NYSE:EXC).

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Gilead Sciences Inc. (NASDAQ:GILD) shares dropped more than 16 percent this morning.  The company announced unsuccessful results with its hepatitis C GS-7977 drug, which it acquired last month from the $11 billion purchase of Pharmasset Inc.  Big pharmaceuticals such as Pfizer Inc. (NYSE:PFE) and Bristol-Myers Squibb (NYSE:BMY) climbed higher.

Despite reporting a 77 percent increase in profits late Thursday, shares of Baidu Inc. (NASDAQ:BIDU) edged lower.  Fourth quarter profits totaled $326 million, while revenue surged 83 percent.  Shares of Google Inc. (NASDAQ:GOOG) also edged slightly lower in early trading.

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Campbell Soup Company (NYSE:CPB) shares jumped 5.5 percent after reporting results for the second quarter.  Net income fell to 64 cents per share, but analyst only expected earnings of 62 earnings per share.

To contact the reporter on this story: Eric McWhinnie at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com