June 6, 2013 / 4:48 PM / 4 years ago

MARKET PULSE-Ciena, Barnes & Noble, Vera Bradley, BT, LRR Energy, Exone

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June 6 (Reuters) - Some U.S. stocks on the move on Thursday:

S&P BRIEFLY FALLS BELOW 50-DAY MOVING AVERAGE

U.S. stocks extended declines on Thursday, sending the S&P 500 below its 50-day moving average, with technology stocks pulling the market lower.

The Dow Jones industrial average fell 0.58 percent, the Standard & Poor’s 500 Index slipped 0.44 percent, the Nasdaq Composite Index dropped 0.48 percent.

** CIENA CORP, $18.65, up 14 pct (0939 ET)

** JDS UNIPHASE CORP, $13.87, up 6 pct (0939 ET)

** JUNIPER NETWORKS INC, $18.96, up 2 pct (0939 ET)

** F5 NETWORKS INC, $78.83, up 2 pct (0939 ET)

** CISCO SYSTEMS, $24.59, up 1 pct (0954 ET)

** INFINERA CORP, $10.80, up 2.4 pct (0954 ET)

** UBIQUITI NETWORK, $15.61, up 3.4 pct (0955 ET)

** CLEARFIELD INC, $11.15, up 10.8 pct (1201 ET)

Network equipment maker Ciena reported a surprise second-quarter profit on an adjusted basis, helped by a 3 percentage-point rise in its gross margin, and forecast stronger-than-expected revenue for the current quarter.

Stocks of other network equipment makers also rose on the news.

** EXONE CO, $46.29, up 8 pct (1140 ET)

** 3D SYSTEMS CORP, $45.16, up 4 pct (1140 ET)

** STRATASYS LTD, $78.47, up 3 pct (1140 ET)

Brokerage Canaccord Genuity started coverage of Exone with a “buy” rating and a price target of $55, and said it believes growth will be driven by increased adoption of Exone’s machines by industrial customers.

MakerBot, a privately held 3D printer maker, is in talks with unidentified suitors to sell itself, the Wall Street Journal reported, citing people familiar with the matter.

** LIGHTIN THE BOX HOLDINGS CO LTD, $12.10, up 27.3 pct (1028 ET)

Shares of the retailer rose as much as 32 percent in their debut, valuing the company at about $600 million, as investors showed renewed interest in Chinese stocks.

** MEDIA GENERAL INC, $8.95, up 22.6 pct (1228 ET)

Media General and privately held New Young Broadcasting Holding Co Inc said they will combine in an all-stock deal to form a new TV broadcasting company that will be majority controlled by New Young shareholders.

** NEOPHOTONICS CORP, $7.67, up 14 pct (1216 ET)

Shares in the company, which makes chips for optical networking equipments, are up on Ciena Corp’s better-than-expected quarterly results.

“Ciena is a top customer of Neophotonics,” Raymond James analyst Simon Leopold told Reuters. Ciena also spoke of strong growth in its optical business, he added.

** VERA BRADLEY INC, $19.89, down 11 pct (0940 ET)

The apparel and accessories retailer cut its fiscal 2014 profit forecast.

Vera Bradley also said Chief Executive Michael Ray will retire.

** FRANCESCA‘S HOLDINGS CORP, $27.57, down 8.3 pct (1144 ET)

The women’s clothing retailer reported a 29 percent rise in quarterly revenue but a slowdown in comparable-store sales growth.

** ROSETTA STONE INC, $15.71, down 8 pct (1004 ET)

The company, which makes language learning software, priced a secondary offering of about 3.5 million shares at $16.00 per share. The stock had closed at $17.08 on Wednesday.

** LRR ENERGY LP, $14.62, up 9.6 pct (1157 ET)

The Delaware-based oil and gas producer said average net production for the two months ended May 31 was about 6,450 barells of oil equivalent per day (boe/d), in line with its previous full-year forecast of 6,250 boe/d to 6,550 boe/d.

LRR Energy had produced a net average of 6,303 boe/d last year.

** ISOFTSTONE HOLDINGS LTD $5.20, up 7.4 pct (1144 ET)

The IT services provider said it had received a preliminary non-binding proposal from Chief Executive Tianwen Liu and China AMC Capital Management Ltd to take it private at $0.585 per share, or $5.85 per American depository share.

** ZUOAN FASHION LTD, $2.79, up 7 pct (1144 ET)

The China-based menswear company reported a 6 percent increase in first-quarter revenue, driven by volume growth and increased selling prices.

** POWERSECURE INTERNATIONAL INC, $14.34, up 6.7 pct (1018 ET)

The utility and energy technologies provider said it had added about $75 million to its revenue backlog, including $49 million from a three-year utility infrastructure contract. The contract represented a 50 percent increase in the company’s work levels compared with last year, PowerSecure said.

** RADCOM LTD, $3.24, up 7 pct (1205 ET)

The Israel-based company, which makes test equipment and software for computer networks, said on Thursday it got orders from two Tier 1 Russian telecom operators, which will help it penetrate the Russian mobile market.

** MANNING & NAPIER INC, $18.72, down 6 pct (1200 ET)

Stifel Nicolaus cut its rating on the investment manager to “hold” from “buy”. Analyst Jeffrey Hopson also removed his $18 price target on the company’s stock.

** VMWARE INC, $70.85, up 6 pct (0951 ET)

Brokerage Berenberg downgraded the cloud computing software maker to “sell” from “hold” over concerns on its slowing license growth, and said the expected growth from emerging markets has not materialized.

The growth from its software-defined data center may also take longer than expected, said the brokerage, which cut its price target on the stock to $57 from $79.

** MOMENTA PHARMACEUTICALS INC, $13.52, up 6 pct (0950 ET)

UBS analyst Ami Fadia upgraded the drugmaker to “buy” from “neutral,” saying she was more confident that Momenta can get approval for its generic version of Teva’s multiple sclerosis drug Copaxone in time for launch in September 2015, when the patents expire.

Copaxone, the world’s top MS treatment, had posted a 17 percent rise in global sales in the first quarter to $1.1 billion.

Fadia also said that Momenta’s strong analytical platform positions it to be one of the key players in the biosimilars space and the company has enough cash to support R&D for the next few years without additional financing.

** ACADIA PHARMACEUTICALS INC, $15.70, up 6 pct (1957 ET)

Jefferies analyst Thomas Wei expects the company to file for approval for its experimental Parkinson’s disease drug in the first half of 2014, saying the company’s timeline of filing in the second half is a conservative estimate.

** GIANT INTERACTIVE GROUP INC, $7.19, down 5 pct (0950 ET)

The Chinese online game developer said Vogel Holding Group Ltd will sell 11 million American Depository Shares (ADS) at a price of $7.25 per ADS in an underwritten public offering. The stock was trading nearly three times its average ten-day volume.

** FERRELLGAS PARTNERS LP, $21.95, up 4.5 pct (1028 ET)

The propane distributor posted a higher third-quarter profit, helped by better margins and higher sales volumes. Ferrellgas also raised its full-year adjusted pre-tax profit forecast to a range of $270 million to $275 million from $245 million to $260 million.

** BT GROUP PLC , $46.88, up 4 pct (1213 ET)

Brokerage Liberum Capital raised its target price on the telecoms group’s stock to 345 pence ($5.40) from 315 pence ($4.90) on “optimistic revenue expectations and further capex reductions”. ($1 = 0.6442 British pounds)

** PRETIUM RESOURCES INC , $8.68, up 3.7 pct (1155 ET)

The Canadian miner said its initial underground drilling at the Valley of the Kings mine in British Colombia intersected visible gold.

** BARNES & NOBLE INC, $20.96, down 2 pct (0945 ET)

Janney Capital Markets downgraded the bookseller’s stock to “neutral” from “buy,” saying that while there is a possibility that the company will sell some assets, it is unclear when such a deal will happen.

** BIODEL INC, $4.35, up 4 pct (0941 ET)

The drugmaker said it plans to submit an application in 2015 to the U.S. Food and Drug Administration for marketing approval of its experimental device to treat abnormally low levels of glucose in the blood, or hypoglycemia.

** AMPIO PHARMACEUTICALS INC, $6.34, up 6 pct (0938 ET)

The drugmaker said it had received authorization from the NYSE Euronext to transfer its listing from the NASDAQ Capital Market.

The company expects its stock to begin trading on the New York Stock Exchange on Monday, June 17, under its current ticker symbol, AMPE.

** NOVAVAX INC, $2.02, up 7 pct (0940 ET)

The vaccine developer said it had developed a vaccine candidate designed to provide protection against the Middle East Respiratory Syndrome Coronavirus, which is from the same viral family as the SARS virus.

The virus, which has spread from the Gulf to France, Britain and Germany, has caused 25 deaths in Saudi Arabia.

** COLDWATER CREEK INC, $3.00, down 13 pct (0941 ET)

The specialty retailer on Wednesday reported first-quarter sales that missed analysts’ estimates, hurt by the unseasonable cold weather.

** CONN‘S INC, $51.06, up 5 pct (0942 ET)

The home appliances and electronics retailer reported first-quarter results that beat market estimates, helped by strong sales of furniture and mattresses.

Conn’s also raised its fiscal 2014 earnings forecast.

** SODASTREAM INTERNATIONAL, $72.23, up 4 pct (0942 ET)

Pepsico is in talks to buy Israel’s SodaStream, whose machines make carbonated drinks from tap water, for $2 billion, the Calcalist financial newspaper reported on Thursday.

CNBC later said the report was “untrue,” citing an email from Pepsico’s Chief Executive.

** VERIFONE SYSTEMS INC, $18.28, down 17 pct (0943 ET)

The maker of credit card swipe machines forecast current-quarter results well below expectations on Wednesday and analysts suggested that the company is losing customers to its rivals.

** ASCENA RETAIL GROUP INC, $17.86, down 10 pct (0943 ET)

The women’s apparel maker reported third-quarter results that missed analysts’ estimates as unseasonably cold weather and reduced consumer discretionary spending hurt sales.

Compiled by Sruthi Ramakrishnan; Editing by Sreejiraj Eluvangal

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