June 6 (Reuters) - Some U.S. stocks on the move on Thursday:
U.S. stock fell for a third straight day on Thursday, with the Dow dropping more than 100 points and the S&P 500 slipping below its 50-day moving average as investors turned cautious on the day before the monthly payrolls report.
The Dow Jones industrial average fell 0.77 percent, the Standard & Poor’s 500 Index slipped 0.48 percent, the Nasdaq Composite Index dropped 0.57 percent.
** CIENA CORP, $18.77, up 15 pct (1338 ET)
** JDS UNIPHASE CORP, $13.87, up 5.6 pct (1338 ET)
** F5 NETWORKS INC, $78.83, up 1.3 pct (1340 ET)
** INFINERA CORP, $10.96, up 3.9 pct (1340 ET)
** UBIQUITI NETWORK, $15.85, up 4.9 pct (1342 ET)
** CLEARFIELD INC, $11.02, up 9.5 pct (1342 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, $45.55, up 6 pct (1343 ET)
** 3D SYSTEMS CORP, $44.48, up 2.4 pct (1343 ET)
** STRATASYS LTD, $78.35, up 2.4 pct (1343 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, $12.25, up 28.9 pct (1344 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.
** VERIFONE SYSTEMS INC, $17.60, down 19.8 pct (1351 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, $17.82, down 10.3 pct (1352 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.
** 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, $20.20, down 10 pct (1344 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, $27.31, down 9.2 pct (1345 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, $15.17, down 11.2 pct (1345 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, $14.68, up 10 pct (1346 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 (1346 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, $14.38, up 7 pct (1346 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, $70.38, up 5 pct (1347 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, $13.64, up 7.2 pct (1347 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.
** QIWI PLC, $20.07, up 7 pct (1328 ET)
Credit Suisse raised its target price on the payment service provider’s shares to $24, with an “outperform” rating.
Revenue in the company’s main business segment, “Qiwi Wallet,” more than doubled due to heavy online transactions which helped drive the expansion, analyst Georgios Mihalos said in a note to clients.
** ACADIA PHARMACEUTICALS INC, $15.65, up 6.3 pct (1348 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, $7.08, down 6.2 pct (1349 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.
** RESPONSYS INC, $11.22, up 5.6 pct (1233 ET)
Shares of the company, which provides marketing-based software and online services, were up on the acquisition of ExactTarget by Salesforce.com earlier this week.
“With ExactTarget having been acquired, other companies that are interested in owning the high-end of the e-mail marketing space and the digital marketing space only have Responsys as one of the few assets that they could go after,” said Pacific Crest Securities analyst Brendon Barnicle.
** SONIC FOUNDRY INC, $8.59, up 4 pct (1308 ET)
Shares of the company, which makes software and hardware to stream and archive multimedia content, rose in response to a stock repurchase program announced on June 3, Taglich Brothers Inc analyst Howard Halpern told Reuters.
** J.M. SMUCKER CO, $98.35, down 3.9 pct (1404 ET)
The maker of Folgers coffee and Jif peanut butter forecast a full-year adjusted profit largely below market estimates as it failed to benefit from a drop in peanut prices because of long-term contracts signed at higher prices.
** FERRELLGAS PARTNERS LP, $21.79, up 3.7 pct (1349 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, $20.89, down 1.8 pct (1349 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.
** 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, $50.77, up 4.7 pct (1351 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, $72.74, up 4.9 pct (1351 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. (Compiled by Sruthi Ramakrishnan; Editing by Sreejiraj Eluvangal)