February 28, 2013 / 6:19 PM / 4 years ago

MARKET PULSE-J.C Penney, Groupon, Molycorp, MGIC, Procera Networks

12 Min Read

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Feb 28 (Reuters) - Some U.S. stocks on the move on Thursday:

US STOCKS-WALL ST DRIFTS AFTER TWO-DAY RUN, DOW RECORD IN SIGHT

U.S. stocks edged higher on Thursday with investors hard-pressed to lift indexes to multi-year highs despite strong economic data. The Dow Jones industrial average rose 14.79 points, the S&P 500 gained 3.12 points and the Nasdaq Composite added 9.13 points.

** GROUPON INC, $4.82, down 19 pct (1224 ET)

Groupon lost a quarter of its market value on Wednesday after the company revealed it began to take a smaller cut of revenue on daily deals during the holidays, sacrificing revenue and profits to attract and keep merchants.

At least three brokerages downgraded the stock, while two others cut their stock price targets.

The stock, trading about three and a half times its daily volume, was one of the top percentage losers on the Nasdaq at 1240 ET.

** J.C. PENNEY CO INC, $17.99, down 15 pct (1225 ET)

J.C. Penney on Wednesday reported its sharpest sales drop since announcing a grand transformation plan 13 months ago, a plunge Chief Executive Ron Johnson is trying to stop by largely reversing his failed no-discounts strategy.

The stock, trading about three times its average 10-day volume, was the top percentage loser on the New York Stock Exchange at 1240 ET.

** MGIC INVESTMENT CORP, $3.05, up 9 pct (1225 ET)

Mortgage insurer MGIC Investment Corp said it was considering reinsurance and raising money from the markets to boost capital, after it reported a sharp deterioration in its ability to pay claims in the fourth quarter.

The stock, trading about three-and-a-half times its average 10-day volume, was one of the top percentage gainers on the New York Stock Exchange at 1243 ET.

** SEARS HOLDINGS CORP, $45.04, down 5 pct (1227 ET)

Sears Holdings' better-than-expected quarterly results were fueled more by cost cuts than sales improvements, doing little to boost Wall Street's faith in the turnaround at the operator of its namesake department stores and the Kmart discount chain.

The stock was trading at about two times its average 10-day volume.

** MOLYCORP INC, $6.18, down 1 pct (1227 ET)

Molycorp is delaying its quarterly results and its annual report as it has yet to determine the size of a goodwill impairment charge that it will have to book in the fourth quarter, the rare earth producer said on Thursday.

The stock was trading at about two times its average 10-day volume.

** PROCERA NETWORKS INC, $11.85, down 29 pct (1233 ET)

The maker of network management equipment reported lower-than-expected fourth-quarter results and forecast 2013 revenue below analysts' estimates.

Procera's stock, trading about nine times its daily volume, was the top loser on the Nasdaq at 1238 ET.

** GRANITE CONSTRUCTION INC, $31.28, down 11 pct (1126 ET)

The infrastructure contract reported quarterly results below analysts' estimates due to weakness in the non-residential construction market.

The stock, trading about two times its average 10-day volume, was one of the top percentage losers on the New York Stock Exchange at 1241 ET.

** CBEYOND INC, $7.13, down 8 pct (1226 ET)

The telecom and data services company posted a bigger-than-expected fourth-quarter loss on Wednesday on higher expenses related to its fiber network assets.

** FARO TECHNOLOGIES INC, $40.90, up 13.5 pct (1226 ET)

The 3D measurement device maker reported better-than-expected fourth-quarter results on Wednesday on higher sales of its laser scanner.

The stock was trading at about three times its average 10-day volume.

** AIR TRANSPORT SERVICES GROUP INC, $5.35, up 12 percent (1227 ET)

The provider of air cargo transportation services reported a lower-than-expected quarterly profit but forecast higher earnings for 2013.

The stock was trading about two times its average 10-day volume.

** DXP ENTERPRISES INC, $60.87, up 5 pct (1036 ET)

The company, which provides maintenance, repair, operating and production services, reported a 34 percent jump in quarterly revenue as more people visited its service centers.

DXP earned 92 cents per share on revenue of $293 million for the fourth quarter.

Shares of the company rose as much as 8 percent to touch a life high on the Nasdaq on Thursday morning.

** NEOGENOMICS INC, $3.34, up 7 pct (1228 ET)

The provider of genetic testing services priced an underwritten public offering of 3.15 million shares of common stock at $3 each.

NeoGenomics said the offering is expected to raise $8.6 million and will net about $7.8 million, after deducting expenses.

The stock was trading at about eight times its average 10-day volume.

** ZOGENIX INC, $1.96, up 15 pct (1229 ET)

The stock, which rose about 41 percent on Tuesday, continued to register gains after the drugmaker said that the U.S. health regulator has delayed the decision on approval of its painkiller, Zohydro for several weeks. The regulatory decision was initially expected on March 1.

William Blair analyst Tim Lugo viewed the delay as a positive signal as delay of several months tend to signal a more significant issue between the agency and the applicant.

The stock was trading at about four times its average 10-day volume.

** BROADSOFT INC, $22.20, down 28 pct (1229 ET)

The Internet communications company forecast current-quarter revenue below analysts' estimates. The company said it expects growth to be affected by weakness in its consumer applications division prior to service providers ramping up their voice-over-LTE investment.

The stock was one of the top percentage losers on the Nasdaq at 1239 ET.

** TETRA TECHNOLOGIES INC $9.25, up 3 pct (1229 ET)

The company which provides engineering and construction services reported better-than-expected earnings for the fourth-quarter and forecast current quarter profit marginally ahead of analysts' estimates.

** UNIVERSAL DISPLAY CORP, $31.74, up 14 pct (1230 ET)

The LED supplier reported better-than-expected revenue for the fourth quarter helped by its licensing agreement with Samsung Display Corp.

The stock, trading at about two times its average 10-day volume, was one of the top percentage gainers on the Nasdaq at 1244 ET.

** NII HOLDINGS INC, $5.04, down 7 pct (1230 ET)

The Latin American telecom service provider reported a wider fourth-quarter loss due to higher subscribers attrition in its biggest market Brazil. Separately the company also took a non-cash charge of $299 million to write down certain assets in Chile.

** Kohl's Corp, $46.47 (1230 Et)

Kohl's reported lower fourth-quarter profit on Thursday, hurt by markdowns during the holiday season, and gave a full-year earnings forecast that fell below Wall Street expectations.

** CHICAGO BRIDGE & IRON CO, $55.00, up 4 pct (1231 ET)

The energy-focused engineering company's stock touched its highest in more than five years, a day after the company reported higher-than-expected quarterly profits, helped by new projects on Wednesday.

Atleast two brokerages raised their price target on the company's stock on Thursday.

** LKQ CORP, $21.35, down 7 pct (1232 ET)

The auto parts supplier's fourth-quarter results missed analysts' expectations and the company forecast a full-year profit that is likely to miss estimates.

** DOMINO'S PIZZA INC $48.31, up 3 percent (1125 ET)

The Ann Arbor, Michigan-based company's quarterly results trumped Wall Street expectations boosted by growth across both domestic and international markets.

** ASSURED GUARANTY LTD, $19.37, up 5 pct (1232 ET)

The bond insurer reported better-than-expected quarterly results on higher net premiums. The company reported net income of $74 million, or $0.38 per share, compared with a net loss of $84 million, or $0.46 per share. Excluding items, the net earned premiums rose 32 percent to $321 million.

** BOULDER BRANDS INC, $9.84, up 2 pct (1233 ET)

The company raised its full-year sales forecast range to $450 million to $460 million, up from its prior view of between $440 million and $450 million.

It also posted fourth-quarter results that beat Wall Street expectations, helped by a 54.6 percent rise in its Natural segment, which includes the Udi's, Glutino and Earth Balance brands.

The stock was trading almost three and a half times its average 10-day volume.

** CATAMARAN CORP, $52.90, down 5 pct (1233 ET)

Pharmacy benefit manager Catamaran reported a 59 percent jump in fourth-quarter profit, helped by acquisitions, and forecast higher revenue and profit for the current year.

** SANGAMO BIOSCIENCES INC, $10.14, up 9 pct (1234 ET)

Lazard Capital Markets analyst Ryan Martins initiated coverage on the pharmaceutical company with a "buy" rating saying Sangamo's zinc finger platform technology could revolutionize therapies for diseases which result from gene modifications affecting all cells in the body.

"SGMO is looking to change how medicine is practiced by developing cures ... that currently have no available treatment or require frequent expensive treatments," Martins wrote in a note.

** DIGIRAD CORP, $2.32, up 8 pct (1234 ET)

The medical device maker reported a narrower quarterly loss helped by 55 percent rise in diagnostic imaging revenue.

Digirad posted fourth-quarter net loss of $300,000, or 1 cent per share, compared with a net loss of $2.8 million, or $0.15 per share, a year earlier.

** CABLEVISION SYSTEMS CORP, $13.84, down 10 pct (1235 ET)

** Dish Network Corp, $35.03 (0948 Et)

Cablevision took a $100 million hit on costs related to Superstorm Sandy and posted deeper video customer losses than expected, shedding 50,000 net subscribers in the fourth quarter.

Cablevision's stock was trading at about two times its 10-day average volume.

** MONSTER BEVERAGE CORP, $52.03, up 5 pct (1235 ET)

Monster Beverage's quarterly profit missed Wall Street estimates as higher costs squeezed margins, but the energy drink maker said its flagship brand continued to gain market share in the United States.

** MYLAN INC, $29.80, up 4 pct (1236 ET)

Generic drugmaker Mylan said it will buy a unit of India's Strides Arcolab Ltd for $1.6 billion to expand its presence in the fast-growing injectable drugs market.

** VOCERA COMMUNICATIONS INC, $26.76, down 9 pct (1236 ET)

The healthware communications provider reported better-than-expected fourth-quarter results and forecast 2013 profit above analysts' estimates.

The stock was trading at about three times its 10-day average volume.

** ANIKA THERAPEUTICS INC, $12.59, up 17 pct (1236 ET)

The medical device maker reported better-than-expected quarterly profit on higher sales of its knee pain injection.

Anika reported fourth-quarter profit of 31 cents per share. Analysts on average were expecting earnings of 24 cents per share, according to Thomson Reuters I/B/E/S.

** AEGEAN MARINE PETROLEUM NETWORK INC, $6.23, down 11 pct (1237 ET)

The marine fuel and lubricants supplier, late on Wednesday, reported fourth-quarter profit below analysts' estimates as the shipping industry grapples with overcapacity amid a fragile global economy.

** NATUS MEDICAL INC, $12.58, up 10 pct (1237 ET)

The company, which makes healthcare products for infants, posted an adjusted quarterly profit that beat market estimates and reiterated its full-year forecast for 2013. (Compiled by Chandni Doulatramani in Bangalore)

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