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Shares of BlackBerry Ltd. rocketed 13% on heavy volume in morning trade Thursday, putting them on track for a 3-month closing high, after better-than-expected fiscal second-quarter results. Volume topped 14 million shares within 30 minutes after the open, already about triple the full-day average, and enough to make it the stock the most actively traded on the Nasdaq. The “mobile-native security and software and services company”–don’t call it a smartphone company–said handheld device sales tumbled 85% from a year go to just $16 million, or only 6.7% of total revenue of $238 million. For the quarter ended March 3, 2007, when the company was named Research in Motion Ltd., and before the launch of Apple Inc.’s first iPhone, handheld revenue accounted for 73% of total revenue of $930.4 million, or about $679.2 million. BlackBerry’s stock has climbed 26% over the past 12 months, while the S&P 500 has gained 15%.

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Amgen Inc. and AbbVie Inc. said early Thursday that they have reached a settlement over Amgen’s biosimilar rival to AbbVie’s blockbuster medication Humira. Under the agreement, Amgen expects to launch its biosimilar Amgevita in the U.S. at the end of January 2023 and in Europe in mid-October 2018. AbbVie shares surged 4.4% in morning trade on the news. The two companies, which said they would dismiss all pending litigation, did not disclose financial terms of the agreement. Biosimilars are a new class of drugs that essentially replicate existing treatments for complex diseases like cancer, multiple sclerosis and diabetes, but at lower costs. However, a number of factors have made their uptake sluggish, patent litigation chief among them. Humira, which is the world’s top-selling drug, has been a key target for biosimilar competition, but with more than 70 patents shielding it, AbbVie has long said the drug should be protected from competition until at least 2022. Amgen shares were inactive in premarket trade. AbbVie shares have surged 21.3% over the last three months, compared with a 2.7% rise in the S&P 500 .

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Amazon.com Inc. said Thursday that it will add 1,000 full-time jobs with its fifth Ohio fulfillment center. The facility will be in Euclid, joining others in Monroe, North Randall, Etna and Obetz. Amazon already has 6,000 workers in Ohio. Associates at the 650,000-square-foot Euclid facility will pick, pack and ship items like books, housewares and toys. Amazon shares are up 0.4% in Thursday trading, and up 27.4% for the year so far. The S&P 500 index is up 12% for 2017 to date.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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U.S. stock-market indexes opened lower on Thursday as investors continued to digest prospects for a planned tax overhaul. Economic data before the opening bell largely came as expected, giving little incentive to push higher. The S&P 500 was down 1 point, or 0.1%, to 2,506. The tech-heavy Nasdaq Composite index declined 12 points, or 0.2%, to 6,439. The Dow Jones Industrial Average was off by 29 points, or 0.1%, to 22,311 at the open. Amid the worst performers on the S&P 500, Accenture Plc dropped more than 2% at the open.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Kellogg Co. said Thursday that it has named Steven Cahillane chief executive officer, effective October 2. He succeeds John Bryant, who will retire. Bryant will continue as executive chairman until March 15, 2018. Cahillane was most recently CEO of The Nature’s Bounty Co., a health and wellness company, a position he held since 2014. Kellogg shares are up 0.2% in premarket trading, and down 14.5% for the year to date. The S&P 500 index is up 12% for 2017 so far.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Amgen Inc. and AbbVie Inc. said early Thursday that they have reached a settlement over Amgen’s biosimilar rival to AbbVie’s blockbuster medication Humira. Under the agreement, Amgen expects to launch its biosimilar Amgevita in the U.S. at the end of January 2023 and in Europe in mid-October 2018. AbbVie shares surged 2.3% in premarket trade on the news. The two companies, which said they would dismiss all pending litigation, did not disclose financial terms of the agreement. Biosimilars are a new class of drugs that essentially replicate existing treatments for complex diseases like cancer, multiple sclerosis and diabetes, but at lower costs. However, a number of factors have made their uptake sluggish, patent litigation chief among them. Humira, which is the world’s top-selling drug, has been a key target for biosimilar competition, but with more than 70 patents shielding it, AbbVie has long said the drug should be protected from competition until at least 2022. Amgen shares were inactive in premarket trade. AbbVie shares have surged 16.2% over the last three months, compared with a 2.7% rise in the S&P 500 .

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Party City Holdco Inc. said Thursday it plans to hire 25,000 temporary employees for Halloween season, and open up more than 270 Halloween City pop-up stores. This comes as the National Retail Federation said it expected Halloween shopping for costumes, candy, decorations and more, to rise to a record $9.1 billion this year from $8.4 billion a year ago. And the NRF said 48% of adults are planning to wear a costume this year, Party City said. “Consumers’ continuing search for uniqueness has really influenced Halloween costume shopping,” said Chief Executive Jim Harrison. “Creating that special costume and sharing it through social media is now an important aspect of how consumers celebrate.” The stock, which was inactive in premarket trade, has tumbled 11.1% over the past three months, while the SPDR S&P Retail ETF has gained 3.4% and the S&P 500 has tacked on 2.7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Nasdaq Inc. said Thursday it is evaluating strategic options for its public relations and digital media services units as part of a broader strategic overhaul that aims to allocate more resources to technology, data and analytics. The exchange operator said the businesses include Nasdaq GlobeNewswire, Nasdaq Influencers, Nasdaq Media Intelligence and Nasdaq IR Websites and Newsrooms, and generated about $195 million in revenue in the 12-month period to June 30. Shares were not yet active premarket, but have gained 15% in 2017, while the S&P 500 has gained 12%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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President Donald Trump on Thursday waived the Jones Act for Puerto Rico at the request of the U.S. territory’s governor, White House press secretary Sarah Huckabee Sanders said. The act bans foreign-flagged ships from carrying goods between U.S. ports. On Wednesday, Trump said he was thinking about lifting restrictions on foreign vessels’ operations, but also said some in the shipping industry were opposed.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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