NEW YORK ( TheStreet) -- Bank of America ( BAC) was flat at $13.12 in premarket trading Friday after reporting first-quarter earnings of 17 cents a share vs. the average analyst estimate of 27 cents a share.

Amylin Pharmaceuticals ( AMLN) was surging 19.9% to $13.50 after the company, Eli Lilly ( LLY) and Alkermes ( ALKS) announced that European regulators have recommended the approval of an experimental type 2 diabetes treatment.

Infosys ( INFY) was falling 9.4% to $66.12 after India's No. 2 outsourcing software company said quarterly earnings rose almost 19% but came in below analysts' estimates.

Search giant Google ( GOOG) was tumbling 5.5% to $547 as rising costs chipped away at profits in the latest quarter, causing the tech bellwether to come in 2 cents short of the average analysts' earnings estimate, despite strong revenue growth.

Natural gas producer Chesapeake Energy ( CHK) was falling 0.1% to $32.61 after agreeing to buy Bronco Drilling ( BRNC) for about $315 million, including debt. Bronco shares were popping 5.8% to $11.

Drug companies Merck ( MRK) and Johnson & Johnson ( JNJ), and J&J subsidiary Centocor Ortho Biotech, have resolved a dispute over distribution rights to arthritis drugs Remicade and Simponi. Merck was rising 2.4% to $34.68 and J&J was unchanged at $60.02.

Toymaker Mattel ( MAT) said first-quarter revenue rose 8% but profits fell from a year earlier as costs increased.

Lexington, Mass.-based drug developer Cubist Pharmaceuticals ( CBST) reported strong sales of its staph infection treatment Cubicin.

-- Written by Andrea Tse in New York.

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