Stocks End Mostly Higher

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Nokia (NOK) expects its mobile device market share in the third quarter to be lower than previously expected due to multiple factors.

Zimmer Holdings (ZMH) agreed to acquire Abbott Laboratories' (ABT) Spine business for about $360 million in cash. Zimmer expects to fund the purchase price from cash on hand and borrowings under existing credit facilities.

Cooper Companies (COO) posted thirt-quarter adjusted EPS of 67 cents, vs. 71 cents one year earlier, as narrowed gross and operating margins offset a 14% revenue rise. The company sees fourth-quarter revenue of $285-$295 million, and 58 cents to 64 cents EPS. It sees fiscal 2008 non-GAAP EPS guidance of $2.18-$2.24, vs. its previous view of $2.10-$2.35.

In response to media reports, SanDisk (SNDK) said it periodically has conversations with multiple parties, including Samsung, regarding a variety of potential business opportunities. SanDisk said it evaluates all of these opportunities, but maintains a policy of not commenting on market rumors or speculation.

ABM Industries Inc. (ABM) reported lower-than-expected earnings of 32 cents a share for the third quarter, vs. 24 cents a share a year ago, on a 35% sales gain. Analysts were looking for 39 cents a share. Acknowledging a general decline in discretionary spending in some customer sectors and regions, the provider of janitorial, parking, security, engineering, and lighting services for commercial and other facilities narrowed its forecast for earnings from continuing operations for fiscal 2008 to $1.00 to $1.05, and said it expects adjusted earnings of $1.10 to $1.15 a share, below the Street view was $1.25.

Take-Two Interactive Software (TTWO) reported third-quarter GAAP EPS of 67 cents (93 cents non-GAAP), vs. an 81-cent loss per share one year earlier, on a sharp revenue rise. The company said third-quarter revenues were led by Grand Theft Auto IV, as well as Top Spin 3 and Sid Meier's Civilization Revolution. Wall Street was looking for EPS of 54 cents. The company sees lower-than-expected fourth-quarter non-GAAP EPS of 1 cent to 5 cents on revenue of $285-$335 million, but raised its fiscal 2008 EPS forecast to $2.08-$2.12 on revenue of $1.5-$1.55 billion.

Major European stock indexes were trading lower Friday. In London, the FTSE 100 index fell 2.26% to 5,240.70. In Paris, the CAC 40 index dropped 2.49% to 4,196.66. Germany's DAX index slid 2.42% to 6,127.44.

Asian stock indexes tumbled Friday. In Japan, the Nikkei 225 index fell 2.75% to 12,212.23. Hong Kong's Hang Seng index sank 2.24% to 19,933.28.

Treasury Market

Bonds surrendered their early gains and traded lower as equities mostly bounced back from their early lows on the worse-than-expected August jobs report. The 2-year note was down 09/32 to 100-03/32 for a yield of 2.32%, the 10-year note dropped 22/32 to 102-12/32 for a yield of 3.71%, and the 30-year bond lost 24/32 to trade at 103-08/32 for a yield of 4.30%.