December 13, 2012 / 4:03 PM / in 5 years

MARKET PULSE-Oncolytics, RIM, Rigel, Best Buy, Allot, Clearwire, RF Micro, Nabors

Dec 13 (Reuters) - Some U.S. stocks on move Thursday:

(For more market insights, including options activity, click on STXNEWS/US; For the Morning News Call newsletter, click on CALL/US; For The Day Ahead newsletter, click on link.reuters.com/mex49s)

** WALL ST LITTLE CHANGED AS CAUTION TEMPERS DATA

U.S. stocks opened little changed on Thursday after data showed first time claims for jobless benefits fell sharply last week, but investors were cautious about making aggressive bets in the midst of ongoing “fiscal cliff” negotiations. The Dow Jones industrial average inched up 0.02 percent. The Standard & Poor’s 500 Index edged down 0.04 percent. The Nasdaq Composite Index eased 0.08 percent.

** ONCOLYTICS BIOTECH INC, $3.42, up 58 pct (1055 ET)

Oncolytics Biotech said its experimental cancer drug met the main goal of stabilizing or shrinking tumors in a late-stage trial. The drug, Reolysin, when used in combination with chemotherapy drugs carboplatin and paclitaxel, shrank or stabilized tumors in 86 percent of the patients tested.

** RIGEL PHARMACEUTICALS, $5.84, down 31 pct (1023 ET)

** ASTRAZENECA PLC, $47.64, down 3 pct (1023 ET)

An experimental rheumatoid arthritis drug from AstraZeneca proved inferior to Abbott Laboratories’ Humira in a clinical study, knocking hopes for one of the few late-stage products in the company’s pipeline.

AstraZeneca licensed the drug fostamatinib, from U.S.-based Rigel.

** HARBINGER GROUP INC, $7.53, down 26.3 pct (1043 ET)

The company, which is controlled by billionaire hedge fund manager Philip Falcone, priced its offering of 20 million shares at $7.50 per share, a steep discount to its Wednesday’s closing price.

** CORENERGY INFRASTRUCTURE TRUST INC, $5.82, down 10 pct (1043 ET)

The investment trust priced its offering of 13 million shares at $6 per share, a discount to its Wednesday’s closing price.

** RESEARCH IN MOTION LTD, $13.86, up 4.13 pct (1052 ET)

A U.S. federal agency is set to trial RIM’s new BlackBerry 10 smartphone after recently ditching the brand in favor of Apple Inc’s iPhone, in a boost for the embattled Canadian company.

** CLEARWIRE CORP, $3.07, up 12 pct (1021 ET)

Sprint, the No. 3 U.S. cellular company, is offering $2.1 billion to buy the rest of wireless internet provider Clearwire, to get full ownership of its wireless spectrum.

** BEST BUY CO INC, $14.34, up 18 pct (1020 ET)

The electronics retailer’s founder Richard Schulze is expected to make a fully financed offer to buy the company by the end of the week, the Minneapolis Star Tribune reported late Wednesday, citing a source. Schulze’s bid would be at least $5 billion to $6 billion, the newspaper reported, citing the source. Best Buy declined to comment on the report.

** ALLOT COMMUNICATIONS, $17.44, down 13 pct (1011 ET)

Wunderlich Securities downgraded the company, which supplies technology that allows telecoms operators to monitor and allocate bandwidth, to ‘hold’ from ‘buy’ and also cut its price target on the company’s stock to $21 from $27.

The cut was on expectations of a slowdown in growth until mid-next year, analyst Matthew Robison wrote in a note to clients.

** NABORS INDUSTRIES LTD, $14.09, down 3 pct (1026 ET)

Jefferies cut Nabor to ‘underperform’ from ‘hold,’ saying it lacks confidence that the land driller can recover significant market share in U.S.

** CVS CAREMARK CORP, $48.89, up 3 pct (1028 ET)

The drugstore operator and pharmacy benefits manager said it expects to earn $3.84 to $3.98 per share on an adjusted basis in 2013. Analysts, on average, were expecting $3.82 per share, according to Thomson Reuters I/B/E/S. The company’s board also approved a 38 percent increase in its quarterly dividend, bringing the payout to 22.5 cents per share.

** LEXMARK INTERNATIONAL, $23.60, down 6 pct (1027 ET)

Deutsche Bank downgraded the printer maker’s stock to “sell” from “hold” on concerns about the company’s ability to sustain profits after it exits the inkjet business.

** RF MICRO DEVICES, $4.79, up 9 pct (1019 ET)

Barclays upgraded the chipmaker’s stock to “overweight” from “equal weight”, citing higher potential for using its chips in Apple Inc and Samsung products and low-end 3G smartphones.

“We see RFMD growing faster than the radio frequency market driven by share gains, new products, and gross margin leverage,” analyst Blayne Curtis said in a note to clients. He also raised the price target on the stock to $6 from $5.

** INFINITY PHARMACEUTICALS INC, $28.09, up 7.8 pct (1026 ET)

The company said it priced the public offering of its 5.7 million common shares at $26.33 per share, and expects to close the offering on or about December 18. Net proceeds from the offering will be used for research and development expenditures, potential acquisitions of new businesses, and other general corporate purposes.

** PHILLIPS 66, $51.74, down 3 pct (1018 ET)

The U.S. refining company expects 2013 capital spending to rise to $3.7 billion, and said it intends to contribute some of its oil and gas transportation assets to form a master limited partnership.

** METLIFE INC, $34.21, up 2 pct (1017 ET)

The largest life insurer in the United States warned 2013 earnings may be well below what Wall Street expects and said it needed to accelerate its strategic plans, which include the sale of its banking business.

** CIENA CORP, $16.10, up 4 pct (1017 ET)

The network equipment maker’s fourth-quarter results missed analysts’ estimates as revenue from the packet optical-transport and packet-optical switching businesses fell.

** SYNTA PHARMACEUTICALS CORP, $8.93, up 4 pct (1016 ET)

The company said it will sell 7 million of its common shares to its board of directors and various institutional investors. The offering, at $8.60 per share, would fetch the company about $60 million in gross proceeds, the company said.

Net proceeds will be used to fund Synta’s research and development, clinical trials, manufacturing and general corporate purposes.

** ENDO HEALTH SOLUTIONS, $26.93, down 2 pct (1013 ET)

The drugmaker on Wednesday said it does not expect to meet its revenue and earnings forecast for 2013, and that its Chief Executive David Holveck will retire next year.

** THE BOSTON BEER COMPANY INC, $130.62, up 15 pct (1010 ET)

The brewer, which makes Samuel Adams Boston Lager beer, raised its full-year earnings forecast on Wednesday to between $4.30 and $4.60 per share, citing increased shipment volumes. It had earlier forecast full-year earnings of $3.80 to $4.20 per share. (Compiled by Garima Goel in Bangalore)

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