Early Edge: Ericsson, AbbVie, Tekmira Pharmaceuticals

U.S. stocks are modestly lower this morning, as traders digest the latest batch of big-cap earnings, a rise in weekly jobless claims, sinking new-home sales, and lackluster manufacturing data. Among the equities garnering attention are telecom concern Ericsson (ADR) (NASDAQ:ERIC), as well as drugmakers AbbVie Inc (NYSE:ABBV) and Tekmira Pharmaceuticals Corp (NASDAQ:TKMR).

• ERIC is among the biggest losers on the Nasdaq, down 9.6% at $11.48, after the firm reported lackluster earnings. The stock is now on the short-sale restricted list, and poised to close the week beneath its 120-week moving average for the first time since late October. Heading into Ericsson's earnings release, long calls were all the rage. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity's 10-day call/put volume ratio of 64.48 stands higher than 81% of all other readings from the past year.
   
• Thanks to a Humira-driven earnings beat and upwardly revised guidance, ABBV was initially pointed higher in pre-market action, but dropped shortly after the open. The stock was last seen 1.7% lower at $63.45, and while it's not yet clear why the shares reversed, traders are weighing the company's post-earnings conference call; AbbVie Inc said it's not looking to find another large growth platform after its purchase of Pharmacyclics, Inc. (NASDAQ:PCYC), and confirmed that it's had "very positive" communication with Johnson & Johnson (NYSE:JNJ) -- a rumored suitor. Ahead of earnings, ABBV puts were flying off the shelves at a rapid-fire rate, as the stock's 10-day ISE/CBOE/PHLX put/call volume ratio of 1.07 was in the 85th annual percentile. What's more, short-term traders were paying up for their bets, as the stock's Schaeffer's Volatility Index (SVI) of 0.29 stands higher than 81% of all other readings from the past year.

• TKMR is up 4% at $19.11, after the firm said its experimental Ebola treatment cured three monkeys. The stock has added nearly 10% so far in April, and is attempting to end the week atop its 20-week moving average for the first time since late March. However, the equity could run into an additional speed bump in the round-number $20 region, which has contained Tekmira Pharmaceuticals Corp's rally attempts during the past two months.