By William L. Watts Investors were reluctant to press U.S. stock-index futures to the upside Friday, after modest gains in the previous session, instead sticking to the sidelines as they weighed whether typically direction-setting nonfarm payrolls data will be overshadowed by uncertainty surrounding the so-called fiscal cliff. Futures on the S&P 500 index fell 1.2 points, or 0.1%, to 1,411.40. Dow Jones Industrial Average futures dropped 10 points, or 0.1%, to 13,053, while Nasdaq 100 futures declined 3.5 points to 2,650.50. U.S. jobs growth is forecast to have slowed to 80,000 in November with an unchanged unemployment rate of 7.9%, in a month affected heavily by Hurricane Sandy. The labor data are scheduled for release at 8:30 a.m. U.S. EST. The Sandy factor makes it more difficult to predict how the outcome of the data will affect markets, strategists said. Thomas Herrmann, strategist at Credit Suisse, said the consensus estimate "seems fairly conservative," but that even if data surprise to the downside, "markets would probably shrug it off as a temporary 'wind' effect." The report, however, may not be the direction-setter it has proved to be in the past, strategists said. That's because "many investors continue to take a neutral view as they wait for the outcome of fiscal-cliff negotiations. Whether those investors will get the rally they're hoping for, or whether success has already been priced in, is the key question," said Rebecca O'Keefe, head of investment at Interactive Investor in London. Wall Street posted a modest rise on Thursday, with analysts tying strength to expectations the fiscal cliff--heavy spending cuts and tax hikes due to begin taking effect in January--will be avoided. In addition to the labor data, the preliminary December consumer-sentiment gauge from the University of Michigan and Thomson Reuters, due at 9:55 a.m. EST, is seen edging back to a reading of 82.0 from 82.7. Consumer-credit data for October are seen expanding due to growing student and car loans, the Federal Reserve is likely to report at 3 p.m. EST. European shares edged lower, with the Stoxx 600 index off 0.1%, a day after Germany's DAX 30 index posted its strongest closing level in nearly five years. Germany's Bundesbank on Friday sharply cut its forecast for 2013 growth, but said the country's labor market should remain relatively insulated ahead of a rebound in 2014. Netflix Inc. (NFLX) shares will be in focus. The DVD-rental and streaming-media company said that the staff of the U.S. Securities and Exchange Commission is recommending a civil action against the company and its CEO because of a posting on a social-media site. Palo Alto Networks Inc. (PANW) shares may be active in the premarket. Late on Thursday, the producer of computer-network- security technology reported a fiscal-first-quarter loss of 5 cents a share and adjusted earnings of 4 cents. Analysts surveyed by FactSet produced a consensus estimate for the quarter of profit of 3 cents a share. Smith & Wesson Holding Corp. (SWB) shares may be in focus. The Springfield, Mass., gun maker reported that fiscal-second-quarter net income jumped on 48% higher sales. The company also lifted its outlook for fiscal 2013 and approved a $20 million stock buyback. The dollar held modest gains versus most major rivals. Gold futures fell $3.50 to trade at $1,698.30 an ounce. Nymex crude-oil futures lost 12 cents to $86.14 a barrel. Write to William L. Watts at BWatts@marketwatch.com Among the companies with shares expected to actively trade in Friday's session are Amarin Corp. (AMRN), Biodel Inc. (BIOD) and Analogic Corp. (ALOG). Amarin said it will begin hiring a sales force to independently launch its cholesterol-reducing fish-oil pill Vascepa, disappointing investors who had hoped the company would have a partner by now. Shares plunged 18% to $9.75 in after-hours trade. Biodel Inc. (BIOD) said the Food and Drug Administration has granted "orphan" drug status for its glucagon drug for the prevention of hypoglycemia--excessively low blood sugar--in the congenital hyperinsulinism population. Shares surged 20% to $3.05 after hours. Analogic Corp.'s (ALOG) fiscal first-quarter earnings rose 8.8% as higher medical-imaging and security-technology sales helped offset weaker ultrasound revenue. Results missed Wall Street expectations, sending shares down 7% to $67.70 after hours. Comtech Telecommunications Corp.'s (CMTL) fiscal first-quarter earnings fell 41% as the maker of advanced communications systems posted lower sales. Shares dropped 13% to $22.53 after hours, as the company also lowered its full-year outlook. Einstein Noah Restaurant Group Inc. (BAGL) said it has completed its strategic review process by recapitalizing the company and issued a special dividend of $4 a share. Shares rose 7.7% to $17 after hours. Geo Group Inc.'s (GEO) board has authorized the private-prison operator to divest certain health-care assets as it moves toward converting itself into a real-estate investment trust by 2013, in a bid to maximize shareholder value. Shares were up 6.5% at $31.34 after hours as the company's board also declared a special dividend. Harry Winston Diamond Corp. (HWD, HW.T) swung to a fiscal third-quarter profit as the jewelry retailer posted stronger sales in both its mining and luxury segments and as write-downs hurt year-ago results. However, per-share earnings missed analyst expectations. Shares fell 3.9% to $13.85 after hours. QR Energy L.P. (QRE) has launched an offering of 12 million units. The oil and gas partnership recently had around 61.3 million units outstanding. Units were off 4.6% to $16.14 after hours. Smith & Wesson Holding Corp. (SWHC) swung to a fiscal second-quarter profit as the gun maker's sales and margins continued to strengthen. Shares rose 2.9% to $11.16 after hours as results beat Smith & Wesson's expectations. The company also raised its full-year outlook and provided upbeat third-quarter guidance. Vitesse Semiconductor Corp. (VTSS) is offering an undisclosed number of shares, and is planning to use the proceeds for working capital and general purposes. The chip maker had 25.8 million shares outstanding as of Nov. 30. Shares fell 8.1% after hours to $1.92. Watchlist: Advanced Micro Devices Inc. (AMD), responding to slowing chip demand and financial pressures, agreed to pay $320 million to manufacturing partner Globalfoundries Inc. to reduce purchases of processed semiconductor wafers. Drug developer Arrowhead Research Corp. (ARWR) expects to offer an undisclosed number of shares and warrants, subject to market conditions. It had 11.1 million shares outstanding as of Sept. 30. Avago Technologies Ltd. (AVGO) said certain shareholders, including its chief executive, are selling around 21.5 million shares. The chip maker had around 246 million shares outstanding as of Oct. 30. Cooper Cos.'s (COO) fiscal fourth-quarter earnings rose 27% as the company continued to post growth in its contact-lens business and margins improved. Biopharmaceutical company CytRx Corp. (CYTR) said it may offer shares of common stock, preferred stock or warrants, in amounts, prices and terms that haven't yet been determined. Dole Food Co. Inc. (DOLE) said President and Chief Executive David A. DeLorenzo will join Itochu Corp. (ITOCY, 8001.TO) when a roughly $1.69 billion deal to sell Dole's worldwide packaged foods and Asia fresh produce businesses to the Japanese company is completed. Esterline Technologies Corp.'s (ESL) fiscal fourth-quarter profit soared as the specialty manufacturer saw higher sensors and systems revenue and lower input costs buoy results. Flow International Corp.'s (FLOW) fiscal second-quarter profit fell 24% as the industrial water-jet machines manufacturer recorded higher input costs, mainly from one-time expenses in its advanced segment. Memorial Production Partner LP's (MEMP) offering of 10.5 million units priced at $17 apiece, matching its Thursday close. Palo Alto Networks Inc. (PANW) swung to a fiscal first-quarter loss, hurt by significantly higher expenses, which masked revenue growth. Aviation-parts supplier TransDigm Group Inc. (TDG) said an agreement to buy the Goodrich pump and engine control systems business from United Technologies Corp. (UTX) has been terminated after the U.S. Justice Department objected to the deal. Moody's Investors Service downgraded U.S. Bancorp's (USB) investment-grade ratings by a notch, on expectations the regional lender's performance may be somewhat weaker than expected amid challenges daunting the financial sector. Vantiv Inc. (VNTV) said an offering of 12.5 million shares by stockholder Fifth Third Bancorp (FITB) priced at 1.7% discount to the payment processor's Thursday closing price. Webster Financial Corp. (WBS) said that shareholders affiliated with Warburg Pincus Private Equity X L.P. plan to offer 10 million shares. The parent of Webster Bank had around 87.9 million shares outstanding as of Oct. 31.

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