ON Semiconductor Corp.(NASDAQ:ONNN) shares fell 0.16% to $6.11 after the company announced that the Board of Directors have promoted and appointed Bernard Gutmann to Executive Vice President and Chief Financial Officer (CFO) effective immediately. Mr. Gutmann replaces Donald Colvin. The company announced his resignation as Executive Vice President and CFO in August, with Mr. Colvin remaining with the company through a leadership transition period scheduled to end on October 31, 2012.
IMAX Corporation (USA)(NYSE:IMAX) stock increased 3.90% to $19.96 after Susquehanna upgraded shares of Imax from a neutral rating to a positive rating in a research report sent to investors on Sept. 27. The firm currently has $23.00 price target on the stock. Separately, analysts at JPMorgan Chase restated an overweight rating on shares of Imax in a research note to investors on September 19. They now have a $30.00 price target on the stock
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United Technologies Corporation(NYSE:UTX) shares declined 0.18% to $78.39 in the early hour after the company’s chief financial officer said it expects "solid" earnings growth next year despite slower-than-expected economic growth in the conglomerate's major markets. The company, which reaffirmed its 2012 profit forecast of $5.25 to $5.35 a share, did not immediately provide an earnings-per-share range for next year.
Nokia Corporation (ADR)(NYSE:NOK) shares increased 1.35% to $2.62. Nokia Oyj has decided to make 75% of the employees in the Company's factory in South Korea redundant. 725 out of 950 workers are to be made redundant.
The company has added two new devices to its Asha lineup as consumers in Asia continue to demand features commonly found on more expensive handsets and Nokia is more than willing to oblige.
Cell Therapeutics Inc(NASDAQ:CTIC) stock dropped 4.01% to $2.37. The company this week said a study of its drug for patients with relapsed lymphoma has yielded positive results. The phase 1 study of Cell Therapeutics' highly selective oral JAK2 inhibitor pacritinib showed encouraging anti-tumor activity and good tolerability in 34 patients with relapsed or refractory lymphoma.