Stocks are moving higher in afternoon trading Friday as investors weighed productivity gains in the U.S. against escalating geopolitical troubles in Ukraine, Gaza and Iraq. U.S. fighters dropped bombs on Islamic militants in Iraq a day after President Barack Obama authorized airstrikes to protect U.S. civilians there and Iraqi refugees. The Standard & Poor's 500 index rose 17 points, or 0.9 percent, to 1,927 as of 2:36 p.m. Eastern time. The Dow Jones industrial rose 147 points, or 0.9 percent, to 16,515. The Nasdaq composite rose 31 points, or 0.7 percent, to 4,366.

Taro Pharmaceutical Industries ($TARO) fiscal Q1 results: Revenues: $130.2M (-15.0%); Gross Profit: $85.4M (-20.0%); Operating Income: $54.5M (-25.9%); Net Income: $46.1M (-21.6%); EPS: $1.08 (-18.2%); Quick Assets: $653.9M (+4.0%); CF Ops: $35.7M (-44.6%).

Masimo ($MASI) Q2 results: Revenues: $140.9M (+2.5%); Operating Expenses: $74.7M (+9.7%); Operating Income: $18.4M (-20.7%); Net Income: $13.8M (-5.5%); EPS: $0.24 (-20.0%); Quick Assets: $97.1M (+26.4%). 2014 Guidance: Revenue: $588M - 593M from $588M - 598M; product revenue: $560M - 565M from $560M - 570M; GAAP EPS: $1.24 - 1.30 from $1.24 - 1.33.

Raptor Pharmaceuticals ($RPTP) Q2 results: Net Product Sales: $16.3M (-22.4%); Operating Expenses: $24.4M (+56.4%); Operating Loss: ($9.1M) (+43.1%); Net Loss: ($12.7M) (+47.3%); Loss Per Share: ($0.20) (+53.5%); Quick Assets: $58.1M (-30.0%). 2014 Guidance: Net product sales: $65M - 70M from $55M - 65M; non-GAAP operating expenses: $80M - 90M; quick assets will be sufficient to fund operations through at least 1H 2016.

Shares of Tekmira (NASDAQ:TKMR) are up 18% premarket on increased volume after the company announced that the FDA verbally confirmed that it has modified its TKM-Ebola IND from full clinical hold to partial clinical hold. The status change could potentially enable the use of TKM-Ebola in infected people. The IND remains on full clinical hold for the multi-ascending dose portion of the Phase 1 randomized, placebo-controlled trial. The study will assess the safety, tolerability and pharmacokinetics of TKM-Ebola in healthy volunteers without taking steroid pre-medications.

Pfizer (NYSE:PFE) is facing an increasing amount of lawsuits by women who state that the pharmaceutical giant knew about the serious side effects of its anti-cholesterol drug Lipitor but never adequately warned the public. Lawsuits began to be filed after the FDA in 2012 warned that Lipitor and other statins had been linked to a "small increased risk" of diabetes. In the last five months, lawsuits have shot up from 56 to almost 1,000.

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