November 29, 2012 / 4:43 PM / 5 years ago

MARKET PULSE-Infoblox, OCZ Technology, Ocean Bio-Chem, Liquidity Services

Nov 29 (Reuters) - Some U.S. stocks on the move on Thursday:

(For the Morning News Call newsletter, For more market insights, including options activity, click on STXNEWS/US; for the day ahead newsletter,


U.S. stocks cut early gains in a volatile start to the session as investors looked to lawmakers in Washington to resolve the budget impasse that has been unsettling markets.

The Dow Jones industrial average was up 0.32 percent, the Standard & Poor’s 500 Index was up 0.40 percent and the Nasdaq Composite Index was up 0.56 percent.

** INFOBLOX INC, $18.96, up 36 pct (1016 ET)

The network automation company posted first-quarter results that beat analysts’ estimates and forecast a second quarter ahead of expectations.

** OCZ TECHNOLOGY GROUP INC, $1.72, up 27 pct (1016 ET)

The embattled solid-state hard drive maker’s Chief Executive said the company had sorted out supply issues and is sourcing NAND chips from multiple vendors.

More than 3 million shares of the company had traded hands in the first half hour of trade, double their average moving volumes.

“Recently we haven’t had any significant NAND supply issues, mostly because we diversified ourselves to multiple suppliers. That was part of the issue before. We were overly reliant on one supplier,” CEO Ralph Schmitt said.

** OCEAN BIO-CHEM INC, $2.26, up 19 percent (1017 ET)

The company - which caters to the marine, automotive, power sports, recreational vehicle and outdoor power equipment markets - said on Wednesday that it was seeing increased demand for some of its products in the aftermath of superstorm Sandy.

** LIQUIDITY SERVICES INC, $36.96, down 15 pct (1017 ET)

The online auctioneer reported better-than-expected fourth-quarter results but forecast earnings for the current quarter below Wall Street’s estimates, citing volatility in the macro environment and its potential impact on the retail and industrial supply chains.

** SEMTECH CORP, $28.36 up 14 pct (1122 ET)

The semiconductor company reported higher-than-expected third-quarter results on Wednesday and forecast current-quarter results comfortably above analysts’ estimates, prompting at least two brokerages to raise their price targets on the company’s stock.

“The acquisition of Gennum positions the company to continue to be a dominant player in new high-growth segments,” Raymond James analyst Steven Smigie wrote in a note to clients.

** GALENA BIOPHARMA, $1.99, up 11 percent (1112 ET)

The biotechnology company said it would present data on the performance of its experimental breast cancer treatment and a vaccine adjuvant for the same cancer type at a symposium.

** RESEARCH IN MOTION LTD, $11.77, up 6 pct (1017 ET)

Brokerage firm Goldman Sachs upgraded the stock to buy from neutral. The brokerage firm is the latest to join a growing chorus of analysts to turn more positive on RIM’s prospects ahead of the launch of its make-or-break new line of devices that will vie against Apple’s AAPL.O iPhone and Android-based smartphones.

** AEROPOSTALE INC, $13.27, down 6 pct (1018 ET)

The teen clothing retailer’s forecast for the current quarter fell short of estimates as the company expects the environment in the teen apparel space to remain heavily promotional.

** TIFFANY & CO, $58.62, down 8 pct (1018 ET)

The upscale jeweler lowered its fiscal-year sales and profit forecast for the third straight quarter and reported lower-than-expected revenue and earnings after a drop in same-store sales in its key Asia market.

** BARNES & NOBLE INC, $14.51, down 10 pct (1019 ET)

The largest U.S. bookstore chain said the quarterly loss in its Nook division increased as the bookseller increased spending on its e-readers and tablets to keep pace with larger rivals Inc and Apple Inc.

** ADVANCE AUTO PARTS INC, $73.07, down 6 pct (1021 ET)

An auction of the auto parts retailer failed to attract bids that met its price expectations, making it unlikely that the company will proceed with plans to sell itself, according to four people familiar with the matter.

** KOHL‘S CORP, $46.49, down 9 pct (1021 ET)

** TARGET CORP, $62.03, down 1 pct (1021 ET)

** GAP INC, $34.90, down 3 pct (1022 ET)

** MACY‘S INC, $39.57, down 2 pct (1022 ET)

Leading U.S. retailers said weak sales in early November, when people in the Northeast were cleaning up after superstorm Sandy, dragged down results for the month, despite brisk activity over the long Thanksgiving weekend.

Comparable-store sales at Kohl’s fell 5.6 percent, while analysts were expecting a rise of 1.9 percent.

Target and Macy‘s, two of the biggest companies to report monthly sales on Thursday, missed analysts’ expectations. Both said the weakness came at the beginning of November, not during the Thanksgiving weekend rush.

Gap’s comparable sales rose 3 percent, while Wall Street was expecting a rise of 3.9 percent.

** LA-Z-BOY INC, $14.87, down 8 pct (1023 ET)

The furniture maker and retailer’s second-quarter profit came in well below Wall Street estimates, hurt by a rise is costs and a fall in sales at its casegoods segment.

** CAI INTERNATIONAL INC, $19.68, down 5 pct (1103 ET)

The container leasing and management company announced an offering 3.8 million common shares at $19.85 per share, a discount to its Wednesday close of $20.70.

The company will sell 2.5 million shares, while the Development Bank of Japan Inc and company founder and Chairman Hiromitsu Ogawa will sell 1.2 million shares.

The company said it would use the proceeds for general corporate expenses and to repay a portion of its senior secured revolving credit facility.

** GENERAC HOLDINGS INC, $32.97, down 4 pct (1023 ET)

The generator maker's shares fell after rumors of a secondary offering of 6 million shares, according to (

Generac had reported an offering of 11.5 million shares on Monday, but withdrew it later that day after shares fell 9 percent. News of the withdrawal sent the stock up 7 percent on Tuesday.

** KNIGHT CAPITAL GROUP INC, $3.26, down 5 pct (1023 ET)

Rival electronic trading firms Getco Holding Co and Virtu Financial LLC have made competing bids for Knight Capital, valuing the company at a minimum of $1.1 billion, as they both eye its lucrative market-making business, sources said.

** GUESS INC, $26.05, up 3 pct (1024 ET)

The U.S. clothing-maker, known for its namesake jeans, declared a special dividend, overshadowing a lower-than-expected third-quarter profit and lowered full-year profit forecast.

** KROGER CO, $25.95, up 4 pct (1024 ET)

The No. 1 U.S. supermarket operator reported a higher quarterly profit as easing food prices prompted shoppers to increase purchases, and raised its full-year earnings forecast. (Compiled by Maria Ajit Thomas in Bangalore)

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