November 30, 2012 / 5:59 PM / in 5 years

MARKET PULSE-Mitel, Christopher & Banks, Ntelos Holdings, Supernus Pharma

Nov 30 (Reuters) - Some U.S. stocks on the move on Friday:

(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 were little changed as investors were hesitant to make big bets ahead of a statement by President Obama on the progress of budget talks in Washington that have recently driven volatility in financial markets. The Dow Jones industrial average was down 0.11 percent, the Standard & Poor’s 500 Index was down 0.17 percent and the Nasdaq Composite Index was down 0.23 percent.

** MITEL NETWORKS CORP, $3.30, up 29 pct (1225 ET)

The communications equipment and software maker reported second-quarter results that beat analysts’ expectations helped by a rise in gross margins.

** CHRISTOPHER & BANKS, $4.53, up 23 pct (1211 ET)

The specialty women’s wear retailer reported third-quarter results that trumped Wall Street expectations, as a turn around plan to introduce new fashions bore fruit and pushed same stores sales up 14 percent.

** NTELOS HOLDINGS CORP, $12.67, down 22 pct (1211 ET)

FBR Capital Markets cut its rating to underperform and lowered its price target on the telecom services provider’s stock to $5 from $21 saying non-renewal of the company’s contract with primary customer Sprint Nextel Co will hit cash flow. The network partnership with Sprint, which generates most of Ntelos’ EBITDA, expires in mid 2015.

** SUPERNUS PHARMACEUTICALS INC, $7.92, down 19 pct (1212 ET)

The specialty pharmaceutical company said it would sell 6 million shares of its common stock at $8 per share in a public offering.

** BIOCRYST PHARMACEUTICALS INC, $1.85, up 16 pct (1211 ET)

The company terminated its deal to buy privately held Presidio Pharmaceuticals Inc saying it was in the best interest of both companies. Biocryst, which has a market value of $81.41 million, said each company will bear its own legal and transaction fees. The deal was announced on Oct. 18.

** DRAGONWAVE INC, $2.45, up 16 pct (1225 ET)

The Canadian telecom network equipment maker completed the acquisition of certain operations of Nokia Siemens Networks’ microwave transport business in China. The company was earlier dependant on a single customer, Clearwire Corp, a cash-strapped U.S. wireless provider, which had left a hole in its business. The Nokia Siemens deal will boost sales and products for DragonWave, which will become the key microwave technology supplier for the company.

** TELLABS INC, $3.40, up 15 pct (1225 ET)

The network equipment maker declared a special dividend of $1 per share and appointed acting Chief Executive Daniel Kelly as its CEO on Thursday. Kelly was named acting CEO and president in June after former CEO Rob Pullen was diagnosed with colon cancer.

** FIVE BELOW INC, $36.15, up 15 pct (1227 ET)

The teen apparel and accessories retailer reported better-than-expected third-quarter results helped by an 8.8 percent rise in same-store sales. The company reported third-quarter earnings of 3 cents per share, better than Wall Street expectations.

** VERISIGN INC, $33.98, down 14 pct (1212 ET)

The company said the U.S. Department of Commerce approved its agreement with ICANN to run the .com internet registry, but the company will not be able to raise prices as before.

** CENVEO INC, $2.35, up 13 percent (1225 ET)

The label maker on Thursday said its unit is seeking to extend its credit facilities to raise up to $50 million new unsecured loan.

** GROUPON INC, $4.10, down 10 pct (1228 ET)

The struggling online marketer of daily deals said its board decided to retain co-founder Andrew Mason as chief executive officer.

** YUM BRANDS INC, $67.47, down 9 pct (1226 ET)

The parent of the KFC, Taco Bell and Pizza Hut chains said on Thursday that it expects a decline in fourth-quarter sales at established restaurants in China, where a cooling economy is making it difficult to exceed the 21 percent gain it had there a year earlier. At least three brokerages cut their ratings and price targets on the stock on Friday.

** GENESCO INC, $54.94, down 9 pct (1226 ET)

The footwear and cap retailer reported a 4 percent decline in November same-store sales as the impact of superstorm Sandy led to a slow start to the fourth quarter.

** EXELIXIS INC, $4.83, down 8 pct (1228 ET)

U.S. health regulators on Thursday approved the company’s lead product Cometriq (cabozantinib) as a treatment for medullary thyroid cancer that has spread to other parts of the body. However, analysts said the real growth driver for the drug would be approval for newer indications.

** ZYNGA INC, $2.42, down 8 pct (1228 ET)

** FACEBOOK INC, $26.85, down 2 pct (1228 ET)

Zynga reached an agreement with Facebook that reduces its dependence on the social networking giant. The “Farmville” creator gets a freer hand to operate a standalone gaming website, but gives up its ability to promote its site on Facebook and to draw from the thriving social network of about 1 billion users.

** ACTIVE NETWORK INC, $5.46, up 8 pct (1231 ET)

BofA Merrill Lynch raised it rating on the stock to “buy” from “underperform”, according to Active Network makes software for event management and online registrations.

** ENZON PHARMACEUTICALS INC, $7.00, up 8 pct (1227 ET)

The biotechnology company said it will pay a special dividend of $2 to shareholders on record as of Dec. 10.

** NEXSTAR BROADCASTING GROUP, $9.09, down 6 pct (1229 ET)

The television station operator said it would sell 8 million Class A common shares at $9.25 per share, a discount of 4 percent to the stock’s Thursday close.

** ELETROBRAS, $3.33, up 5 pct (1227 ET)

The U.S.-listed shares of the Brazilian power utility company jumped after the government offered greater compensation for companies that adhere to a plan to lower energy rates.

** OMNIVISION TECHNOLOGIES INC, $15.05, down 5 percent (1229 ET)

The image sensor maker posted better-than-expected second-quarter results on Thursday, but gross margin nearly halved in the quarter to 16.6 percent on high supply chain costs. “Pro forma gross margin declined to a historic low in the October quarter due to ongoing high BSI-2 supply chain costs, with management noting that it will need more time before it can deliver any meaningful gross margin improvement,” Wedbush analyst Betsy Van Hees said in a note.

** SUPERVALU INC, $2.40, up 5 pct (1229 ET)

The troubled grocery chain said it remains in talks with several parties, after its shares slumped more than 18 percent on a Thursday report that Cerberus Capital Management was having difficulty obtaining financing to buy out the company.

** ZUMIEZ INC, $19.75, down 5 pct (1226 ET)

The teen-focused retailer reported third-quarter sales below expectations as same-store sales growth slowed. (Compiled by Maria Ajit Thomas in Bangalore)

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