BUZZ-U.S. Stocks on the Move-Amazon, Edwards Lifesciences, P&G

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U.S. stocks opened flat on Friday, as disappointing earnings from Amazon were offset by gains in Microsoft (NasdaqGS: MSFT - news) after its quarterly results. The Dow Jones industrial average was up 0.15 percent at 16,703.53, the S&P 500 was up 0.12 percent at 1,953.15 and the Nasdaq Composite was up 4.63 points, or 0.1 percent, to 4,457.42.

** AMAZON.COM INC, $291.44, -6.94 pct

At least 20 brokerages cut their price targets on the e-commerce giant's stock, while Cowen and Co downgraded it to "market perform" from "outperform".

"If the stock continues to get hit, we could even end up in a situation with activists calling for significant changes at Amazon," Macquarie Equities Research analysts wrote in a note.

Up to Thursday's close, the stock had fallen about 21 percent this year.

Third quarter profit and revenue, as well as net sales forecast for the fourth quarter - the crucial holiday season - missed average analyst estimates.

Amazon's shares were the top percentage loser on the S&P 500, and was the biggest drag on the index.

** PROCTER & GAMBLE CO, $85.8, +3.09 pct

The consumer goods giant said it would exit its Duracell battery business, likely through a splitoff into a separate company, as it looks to focus on faster-growing brands. .

The company, which earlier this month completed a management reshuffle as part of plans to revive sagging sales growth and win back market share, said it forecast a stronger dollar this quarter.

For a graphic on Procter & Gamble, Colgate-Palmolive and Kimberly Clark, click (http://link.reuters.com/syh33w)

The stock was the biggest pull on the S&P 500.

** PFIZER INC (NYSE: PFE - news) , $28.91, +1.08 pct

The U.S. drugmaker is to continue buying back stock, with the board authorizing a new $11 billion share repurchase plan, deflating expectations that it will make a new bid for AstraZeneca Plc (NYSE: AZN - news) .

Separately, a U.S. district court ruled in favor of the company in a patent lawsuit it filed against Mylan Inc (NasdaqGS: MYL - news) , alleging patent infringement on its cancer drug, Sutent, Pfizer said on Thursday.

** GRUBHUB INC (NYSE: GRUB - news) , $36.42, -2.07 pct

Brokerages revised price targets and shareholders sold shares after the company reported third quarter results.

Sources said 3 million shares were sold at $36.75 - a 1.1 percent discount to Thursday's $37.19 closing price - by an unidentified seller. The company had reported a more than five-fold jump in quarterly profit as more consumers used its online service to order meals.

Goldman Sachs (NYSE: GS-PB - news) analyst Heath Terry said the company was well positioned to take share of the $77 billion takeout and delivery market in the United States, but cut his target to $42 from $44, "to reflect multiple compression across the sector."

** GIGAMON INC (NYSE: GIMO - news) , $13.92, +20.10 pct

The network traffic management software maker reported better-than-expected third quarter revenue.

The stock was the biggest percentage gainer on the New York Stock Exchange.

** PANDORA MEDIA INC (NYSE: P - news) , $19.83, -14.23 pct

At least eight brokerages cut their price targets by as much as $7 to as low as $26 on the operator of the leading Internet radio service's stock, which has a median price target of $32.

The company had reported a lower-than-expected increase in listeners in the third quarter.

The stock was the top percentage loser on the New York Stock Exchange.

** BJ'S RESTAURANTS INC, $40.17, +20.99 pct

At least six brokerages, including Morgan Stanley (Xetra: 885836 - news) and Jefferies, raised their price targets on the restaurant chain operator's stock.

The casual dining restaurant operator on Thursday said third quarter comparable restaurant sales grew 0.3 percent - the first increase after falling four quarters. Sales were driven by a 0.7 percent increase in guest traffic, which more than offset a lower average check.

The stock was the third-biggest percentage gainer on the Nasdaq.

** LEAR CORP (NYSE: LEA - news) , $91.32, +6.73 pct

The maker of auto seats and electrical power systems reported a better-than-expected rise in quarterly profit and raised its 2014 earnings forecast, reflecting robust vehicle production in North America and Europe.

** KLA-TENCOR CORP, $76.81, +8.18 pct

At least four brokerages raise their price targets on the chip and wafer maker's stock after the company reported better-than-expected quarterly revenue and increased its share repurchase program.

The stock was the second-biggest percentage gainer on the S&P 500.

** VITAE PHARMACEUTICALS INC (NasdaqGM: VTAE - news) , $10.83, +25.20 pct

The biotechnology company said on Thursday its experimental drug to treat Alzheimer's disease was found safe and well-tolerated across all dose levels tested in early-stage trials.

The stock was the second-biggest percentage gainer on the Nasdaq.

** QIWI PLC (NasdaqGS: QIWI - news) , $26.9699, -10.96 pct

Goldman Sachs cut its rating on the payment processor's stock to "sell" from "buy", citing revenue growth and compliance risk. "We see risks to growth in the financial services, e-commerce and money remittance businesses," Goldman Sachs analysts wrote in a note.

** EDWARDS LIFESCIENCES CORP (NYSE: EW - news) , $116.51, +10.76 pct

The medical device maker said its quarterly net earnings rose 23 percent on strong sales of heart valves, prompting the company to raise its full year earnings forecast.

The stock was the top percentage gainer on the S&P 500.

** JUNIPER NETWORKS INC (NYSE: JNPR - news) , $19.39, -4.58 pct

The network gear maker forecast weaker-than-expected profit and revenue for the current quarter as telecom operators, its main customers, postpone spending until the dust settles on several big mergers.

The stock was the second-biggest percentage loser on the S&P 500.

** SYNAPTICS INC (NasdaqGS: SYNA - news) , $64.18, -12.41 pct

The touchscreen chip maker reported lower-than-expected first quarter revenue and adjusted profit, hurt by weak demand from smartphone makers, sending its shares down 8.5 percent in extended trading. (Compiled by Shailaja Sharma in Bangalore; Editing by Joyjeet Das)