NEW YORK (CNNfn) - Shares of Royal Dutch Petroleum plunged after two analysts cut their rating on the world's No. 2 oil and gas conglomerate.
And drug delivery firm Noven Pharmaceuticals got a bad reaction after it warned its 2001 earnings would fall far short of expectations.
The price was right for shares of ValueVision International after the home shopping company said it expected a 17 percent rise in revenue from strong Internet sales.
Shares of electronic security products maker Sensormatic Electronics surged after the company agreed to a $2.3 billion buyout offer from Tyco International.
Friday's losers
Royal Dutch Petroleum (RD: down $1.10 to $55.49, Research, Estimates). J.P. Morgan cut its rating on the world's No. 2 oil and gas conglomerate to "market perform" from "long-term buy" following negative comments on production that create uncertainty about the company's 5 percent volume growth target. AG Edwards analyst Bruce Lanni cut his rating to "maintain" from "buy."
Noven Pharmaceuticals (NOVN: down $14.34 to $18.98, Research, Estimates). The drug delivery company said that 2001 earnings will be between 40 cents and 45 cents a share, below analysts' expectations of 66 cents a share. Noven posted second-quarter earnings of 14 cents a share, in line with the consensus estimate.
Kilroy Realty (KRC: down $0.49 to $27.11, Research, Estimates). AG Edwards analyst Art Havener cut his rating to "maintain" from "accumulate" citing a sluggish leasing environment.
Cima Labs (CIMA: down $3.65 to $55.85, Research, Estimates). The drug delivery company reported better-than-expected second-quarter earnings and upped its full-year profit target to between 90 cents and 95 cents a share from 70 cents-to-80 cents a share. Analysts currently expect a profit of 92 cents a share for the year.
J.D. Edwards (JDEC: down $1.98 to $9.25, Research, Estimates). The enterprise software maker warned that the economic slowdown and a decrease in technology spending will hurt its third-quarter results. The company expects a normalized loss of 10 cents a share, well short of analyst forecasts for a 4 cents a share profit.
Gentex (GNTX: down $1.81 to $30.90, Research, Estimates). Prudential downgraded the maker of products for the automotive industry to "hold" from "buy" based on valuation.
Copper Mountain Networks (CMTN: down $0.82 to $2.70, Research, Estimates). The provider of telecom equipment said it plans to cut 40 percent of its staff to conserve cash. The company also reported a second-quarter loss of 17 cents per diluted share, 2 cents narrower than expected.
Ethan Allen Interiors (ETH: down $1.25 to $36.75, Research, Estimates). The furniture retailer reported Friday that fiscal fourth-quarter profit declined 33 percent, and warned that sales and earnings in its first quarter would be lower than expected due to weakness in the economy.
Network Appliance (NTAP: down $0.77 to $14.50, Research, Estimates). ABN Amro cut its second-quarter earnings estimate on the data storage company, citing Network Appliance's aggressive pricing strategy.
ChipPAC (CHPC: down $1.58 to $9.00, Research, Estimates). The provider of semiconductor packaging design and assembly services warned it will miss third-quarter expectations by a wide margin. The company is expected to post a loss of 19 cents-to-27 cents a share, compared with forecasts for a 7-cent-a-share loss.
Micron Technologies (MU: down $1.45 to $43.45, Research, Estimates). Banc of America Securities cut its estimates for 2001 to a loss of 33 cents a share from a loss of 22 cents.
Ask Jeeves (ASKJ: down $0.34 to $1.22, Research, Estimates). The Internet search service is no longer sure it can achieve an operating profit by the fourth quarter, as it had earlier forecast, its chief executive said Thursday. The company also reported a second-quarter loss and a sharp drop in revenue.
Friday's winners
ValueVision International (VVTV: up $1.90 to $16.83, Research, Estimates). The direct marketing company and owner of the nation's third-largest home shopping television network, ShopNBC, said it expects second-quarter revenue to be up 17 percent from a year earlier. The company said Internet sales continued strong despite a difficult economic climate in the United States.
Sensormatic Electronics (SRM: up $8.18 to $23.12, Research, Estimates). The supplier of electronic security products agreed to be acquired by Tyco International (TYC: Research, Estimates) in a stock transaction valued at $2.3 billion, or $24 per share. On Thursday, the company reported fourth-quarter income of 27 cents a share, 2 cents better than estimates.
Genzyme (GENZ: up $1.07 to $58.75, Research, Estimates). The drugmaker said it received approval from the European Union to market Fabrazyme for long-term enzyme replacement therapy in patients with a confirmed diagnosis of Fabry disease.
Protein Design Labs (PDLI: up $3.34 to $57.75, Research, Estimates). The biotechnology company reported lower second-quarter earnings amid higher costs and lower royalty revenue, but said it still expects nearly breakeven results for all of 2001.
Walt Disney (DIS: up $0.10 to $26.60, Research, Estimates). The diversified worldwide entertainment company posted third-quarter results that beat expectations but showed a 42 percent drop in its broadcasting unit, which includes the ABC television network.
Perrigo (PRGO: up $1.61 to $17.81, Research, Estimates). Fahnestock & Co. upgraded the pharmaceutical company to "strong buy" from "buy" due to the company's strong fundamentals.
-- compiled by Catherine Tymkiw from staff and wire reports 
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