The Market Story

Nasdaq's Two-Year Gain: 63%

Stock quotes in this article: MRK , PFE , LLY , KO , AIG , GE  

The British Medical Journal reported Friday that the FDA is reviewing Eli Lilly(LLY Quote) documents that might link its blockbuster antidepressant Prozac to violent behavior. The documents date to a 1989 lawsuit against the company concerning a patient who went on an office shooting spree allegedly while taking the drug. A Lilly spokesman said the company couldn't comment on the report without seeing the documents. Eli Lilly lost 75 cents, or 1.3%, to $56.75.

Shares of Horizon Offshore(HOFF Quote) continued to rise after the marine construction company announced late Wednesday that it landed a pipeline construction contract in Africa. The company also announced it is trying to refinance its debt.

GE(GE Quote) reaffirmed its previous earnings forecast of 48 cents to 51 cents a share for the fourth quarter and $1.57 to $1.60 a share for 2004. The company also said it has sold GE Capital International Services, or Gecis, for $500 million in cash and 40% ownership in the spinoff. GE dipped 10 cents, or 0.3%, to $36.50.

ThinkEquity Partners initiated shares of Sonus Networks(SONS Quote) with a buy rating and a target price of $9. The firm believes Sonus will announce several significant deals in 2005, in both domestic and overseas markets. Shares gained 20 cents, or 3.6%, to $5.73.

Among overseas markets that were open Friday, London's FTSE 100 lost 0.1% to 4814, while France's CAC 40 fell 0.3% to 3816. Both benchmarks were poised to end 2004 with gains just above 7%.

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