BP Share News (BP.)

Among the companies whose shares are expected to actively trade in Friday's session are Goldman Sachs Group Inc. (GS), Google Inc. (GOOG) and Advanced Micro Devices Inc. (AMD). Goldman's shares climbed 4.9% to $152.26 in late trading, adding to a 4.4% gain before the end of Thursday's trading session, as the investment bank announced a settlement of Securities and Exchange Commission's lawsuit accusing the firm of misleading investors in a subprime mortgage product. The SEC said Goldman will pay $550 million and reform its business practices to settle the charges. Goldman did not admit or deny the allegations but acknowledged making a mistake in its marketing materials. Google's second-quarter earnings climbed 24% as the Internet giant's advertising revenue accelerated growth, and the company noted very strong growth in its emerging businesses. Still, shares fell 4% to $474.33 in after-hours trading, as the company's earnings missed Wall Street's expectations. AMD's second-quarter loss narrowed on sharply higher revenue and margins. Shares rose 1.6% to $7.53 after hours as the chip maker's results topped expectations. The Food and Drug Administration rejected Vivus Inc.'s (VVUS) weight-loss drug Qnexa, sending down shares of rival weight-loss-drug makers Arena Pharmaceuticals Inc. (ARNA) and Orexigen Therapeutics Inc. (OREX) shortly before the close of regular trading Thursday. The other two companies, which had seen strong gains for most of Thursday's session, face similar panels in September and December, respectively. The federal advisory panel Thursday narrowly rejected Qnexa on worries that potential safety concerns could be magnified if the drug was used by millions of patients. Vivus shares plunged 56% to $5.30 in late trading. Lazard Capital recently projected they are worth $3 to $4 if the drug was rejected. Orexigen's shares fell 8% to $4.60 after hours, while Arena's climbed 12% to $4.40 in late trading after dropping 8.4% before the close. People's United Financial Inc. (PBCT) has agreed to acquire Smithtown Bancorp Inc. (SMTB) for $60 million in cash and stock and LSB Corp. (LSBX) for $96 million as the Connecticut-based bank looks to beef up its presence on Long Island and in the Boston area. The news came as Smithtown reported a second-quarter loss of $29.2 million, including a $15.7 million write-down of credits the bank could have used to offset future income-tax bills. People's reported a 37% drop in second-quarter earnings on lower noninterest income. LSB's shares shot up 38% to $19.51 after hours while Smithtown's fell 1.9% to $3.72 and People's slid 0.7% to $14.05. Polycom Inc.'s (PLCM) second-quarter profit dropped 18% on higher overhead costs, which masked revenue and gross-margin growth at the maker of audio and data conferencing products. Shares dropped 8.9% to $29.15 after hours. AngioDynamics Inc.'s (ANGO) fiscal fourth-quarter profit grew 29% as the company reported higher across-the-board sales, although margins were pressured by a difficult pricing environment. Still, results for the maker of minimally invasive medical devices topped Wall Street's expectations, sending shares up 3.6% to $16 in after-hours trading. J.B. Hunt Transport Services Inc.'s (JBHT) second-quarter profit more than doubled on better-than-expected revenue growth as the trucking company also reported higher pricing and improved operating margins. Shares rose 1.4% to $35.26 after hours. Cubist Pharmaceuticals Inc.'s (CBST) second-quarter profit grew 18% on double-digit percentage sales growth of its flagship product Cubicin. Shares grew 1.9% to $22 in after-hours trading as the biopharmaceutical company's results topped Wall Street's expectations. Valmont Industries Inc.'s (VMI) second-quarter profit dropped 61% as its largest business--making utility support structures--posted significantly lower sales and earnings. Shares slid 1.2% to $78.28 in after-hours trading, as the company gave a more downbeat forecast for 2010 earnings, saying they are expected to fall 35% from a year earlier, rather than the 25% decline previously predicted. Watch List BP PLC (BP, BP.LN) said the flow of oil into the Gulf of Mexico stopped during a test to see whether a recently placed cap on its broken well can entirely seal it off. AT&T Inc. (T) said it reached a deal that will keep Cablevision Systems Corp.'s (CVC) IFC, AMC and WE cable networks available to customers of its U-verse television service, which has 2.3 million subscribers. Standard & Poor's Ratings Services downgraded the short-term rating of Moody's Corp. (MCO), parent of its peer Moody's Investors Service, saying financial-reform legislation approved by the U.S. Senate on Thursday could increase Moody's litigation-related costs and hurt its margins. Adolor Corp. (ADLR) announced the paring of its work force by 30 people, or nearly 30% of the work force, as the biopharmaceutical company tries to reduce cash-burn levels. Omega Healthcare Investors Inc.'s (OHI) board approved a 13% increase in its quarterly dividend, the real estate investment trust's second hike this year. Central Garden & Pet Co. (CENT) announced a $100 million stock-buyback effort, which equals nearly 15% of the company's market value. It makes lawn-and-garden and pet supplies under brands such as Pennington and Adams. The new stock-buyback plan comes as Central Garden has nearly completed a $100 million repurchase effort launched four years ago. -By Dow Jones Newswires; write to hotstocks@dowjones.com (END) Dow Jones Newswires July 16, 2010 06:07 ET (10:07 GMT)