Google, Capital One, Insmed Attract Major Attention in Trading January 20th

Google Inc (NASDAQ:GOOG): Intel (NASDAQ:INTC) CEO Paul Otellini said last night that tablets running on Microsoft’s (NASDAQ:MSFT) Windows 8 operating system are “being queued up for production,” according to Cnet. Otellini added that tablets running on Google’s (NASDAQ:GOOG) Android operating system can’t compete with Apple’s (NASDAQ:AAPL) iPad right now. However, Android tablets will do better once they’re equipped with the latest version of Android, Ice Cream Sandwich, the CEO said, the publication added. Shares of Google Inc are trading 7.92% lower today.

Capital One Financial Corp. (NYSE:COF): Capital One Financial Corp. (NYSE:COF), which is seeking approval to purchase ING Groep’s (NYSE:ING) U.S. online bank, was asked by analysts to explain an increase in expenses after their Q4 profit missed estimates, reports Bloomberg. The credit card issuer said non interest expense jumped 25% to $2.62B, net income fell 42% to $407M, and earnings from continuing operations were 89c a share, below the $1.55 estimate of 28 analysts surveyed by Bloomberg. Shares of Capital One Financial Corp. are trading 6.19% lower today.

TreeHouse Foods Inc. (NYSE:THS): The company’s preliminary total Q4 revenue grew 5% to approximately $535M vs. $510M in Q4 of 2010. The Q4 retail channel volumes decreased 4%, mainly due to an 8% decline in December volumes, well below historical levels. The company believes the volume decline was driven by three main factors: 1) Reduction in consumer food purchases, 2) Sales shift away from traditional grocery customers toward alternate channel retailers, 3) Negative effect of warm weather in the Midwest and Northeast on seasonal sales. Shares of TreeHouse Foods Inc. are trading 12.9% lower today.

Insmed Incorporated (NASDAQ:INSM): Insmed announced that the U.S. FDA has lifted the clinical hold previously placed on ARIKACE — liposomal amikacin for inhalation — in patients with non-tuberculous mycobacteria, or NTM, lung disease. Insmed continues to engage in discussions with FDA regarding the clinical hold placed on ARIKACE in Cystic Fibrosis, or CF, patients with Pseudomonas lung infections. The clinical holds placed on the ARIKACE programs in NTM and CF were based on an initial review by FDA of the results reported by Insmed of a long-term rat inhalation carcinogenicity study of ARIKACE. FDA previously requested that Insmed conduct a phase 2 clinical trial of ARIKACE in adult patients with NTM to provide proof-of-concept efficacy and safety data before proceeding with a phase 3 clinical trial. As part of its on-going assessment of the appropriate path forward for the ARIKACE program, including the phase 2 trial of ARIKACE in NTM patients, the company is continuing communication with FDA regarding the CF clinical hold. Insmed also announced that it will move ahead with the 9-month dog inhalation toxicity study of ARIKACE as previously requested by FDA to determine if the findings of the rat inhalation carcinogenicity study are observed in a non-rodent model. Shares of Insmed Incorporated are trading 33.16% higher today.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

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