February 8, 2013 / 4:28 PM / in 5 years

MARKET PULSE-Apple, Caesar's Entertainment, LinkedIn, Zynga

Feb 8 (Reuters) - Some U.S. stocks on the move on Friday:


Index rose after a batch of positive economic data points, but gains were checked with the benchmark S&P index at five-year highs as investors looked for strong catalysts to push the market further upward.

The Dow Jones industrial average gained 67.62 points, or 0.48 percent, to 14,011.67. The Standard & Poor’s 500 Index climbed 7.82 points, or 0.52 percent, to 1,517.21. The Nasdaq Composite Index rose 27.34 points, or 0.86 percent, to 3,192.47.

** APPLE INC, $473.09, up 1 pct (1019 ET)

Shares of the iPhone maker continued to rise a day after they jumped 10 percent as hedge fund manager David Einhorn’s Greenlight Capital filed a suit against the company and demanded it dole out a bigger piece of its $137 billion cash pile to investors.

** MCDONALD‘S CORP, $94.88, up 0.7 pct (0943 ET)

The company said January sales at established restaurants around the world fell 1.9 percent, a steeper decline than expected as fast-food chains fight for diners.

** CAESAR‘S ENTERTAINMENT $10.68, up 30 percent (1025 ET)

** BOYD GAMING $7.38, up 7 percent (1025 ET)

The prospect of online gambling being legalized in New Jersey sent shares in gaming companies surfing higher on hopes it could unlock a market worth up to $850 million. Though New Jersey Governor Chris Christie vetoed the bill, he called for only relatively minor amendments that mean it could be passed within a few months.

** MISONIX INC, $5.55, down 21 pct (1055 ET)

The medical device maker reported a loss in the second quarter as revenue from its ultrasonic surgical products Autosonix and Lysonix fell by 59 percent, as they approached their end-of-life. [ID: nPnLA56534]

** GUIDANCE SOFTWARE INC, $9.38, down 21 pct (1104 ET)

The digital investigation software provider reported lower-than-expected revenue on Thursday and forecast 2013 profit significantly below analysts’ estimates.

“Planned investments in product development and sales and marketing lower the earnings outlook meaningfully,” The Benchmark Co analyst Mark Schappel wrote in a note, and cut his price target on the stock to $13.

** LINKEDIN CORP, $146.62, up 18 pct (1028 ET)

The professional social networking company extended its hot streak on Thursday, announcing both blow-out quarterly profits and a bullish forecast for the new year that exceeded Wall Street’s already lofty expectations.

At least five brokerages - J.P. Morgan Securities, Barclays Capital, Canaccord Genuity, Evercore Partners and Cantor Fitzgerald - raised the target price on the company’s stock.

** RIVERBED TECHNOLOGY INC, $16.22, down 19 pct (1037 ET)

The network gear maker’s quarterly profit fell 76 percent on costs associated with its $1 billion acquisition of Opnet Technologies Inc, and the company forecast current-quarter profit below estimates.

At least two brokerages downgraded the stock.

** MOLINA HEALTHCARE INC, $32.41, up 12 pct (0950 ET)

The health insurer reported quarterly profit above Street estimates helped by decreased medical care ratios at seven of the company’s nine health plans, most notably in Texas and California. It also forecast full-year earnings above analysts’ view. Susquehanna raised the price target on the company to $34 from $30. [ID: nWNAB00SN6]

** MICROCHIP TECHNOLOGY INC, $36.86, up 8.75 pct (1047 ET)

The chipmaker forecast a larger-than-expected profit and revenue for the current quarter after reporting third-quarter results that beat Wall Street expectations on higher sales of its microcontroller chips.

** NIC INC, $16.99, up 8 pct (1049 ET)

The company, which outsources web portal services for state and local governments, on Thursday reported fourth-quarter results above analysts estimates on higher sales in its portal business. It reported fourth-quarter profit of 13 cents per share, on revenue of $57.2 million. Analysts expected earnings of 10 cents per share on revenue of $52.6 million, according to Thomson Reuters I/B/E/S.

** SUNPOWER CORP, $7.91, down 7 pct (1050 ET)

The U.S. solar company, which is battling a drastic drop in panel prices due to a supply glut, said on Thursday that it expects revenue for this year to be unchanged from 2012.

** RADIOSHACK CORP, $3.26, up 6.7 pct (0947 ET)

The U.S. electronics retailer named Walgreen executive Joseph Magnacca chief executive, hoping to boost sales by tapping his merchandising and marketing experience.

** 3SBIO INC, $14.63, up 5.6 pct (1045 ET)

The Chinese biotechnology firm said it agreed to be taken private by Decade Sunshine Ltd for about $340 million, reflecting a wider trend of Chinese companies going private to escape U.S. regulatory scrutiny.

** CORRECTIONS CORP OF AMERICA, $37.43, down 5 percent (1055 ET)

The prison operator raised its forecast for 2012 funds from operations, but it was still well below Wall Street estimates.

Corrections Corp expects funds from operations of $2.32 to $2.34 per share, excluding items. Analysts on average had forecast $2.40 per share, according to Thomson Reuters I/B/E/S. [ID;nWNAB00SLZ]

** MOODY‘S CORP, $45.01, down 4 pct (1053 ET)

The credit rating agency said quarterly profit jumped 66 percent and the company forecast strong 2013 earnings, as it benefits from a wave of corporate debt issues. However, the company’s shares fell 4 percent as investors feared that the agency will face a federal fraud lawsuit tied to pre-crisis ratings.

** EXONE CO, $29.30, up 10 pct (1030 ET)

The 3D printer maker debuted its shares on the Nasdaq on Friday, after its IPO priced at $18 per share - at the higher end of the expected range.

** AOL INC, $34.01, up 8 pct (1034 ET)

The online company’s quarterly profit jumped, boosted by a 13 percent rise in advertising sales. Net income rose to $35.7 million, or 41 cents per share, in the fourth quarter, from $22.8 million, or 23 cents per share, a year earlier. Advertising revenue rose 13 percent to $410.6 million, while subscription revenue for AOL’s dial-up services fell 10 percent to $174.2 million.

** SKULLCANDY INC, $6.08, down 8 pct (1039 ET)

The headphones company forecast full year 2012 earnings at the lower end of between $1 and $1.04 per share, and said Chief Executive Jeremy Andrus will step down.

** TESSERA TECHNOLOGIES INC $16.10, down 8 pct (1021 ET)

The chip technology developer posted a wider-than-expeced loss for the fourth quarter on Thursday, and said it was freezing salaries until the summer. The company will re-eavualte employee compensation after that. Tessera also said it would look at a possible sale of its silent air cooling business.

** ZYNGA INC, $3.30, up 7 pct (1025 ET)

Shares of the online gaming company continued their winning streak for the fourth straight trading day after it reported an unexpected fourth-quarter profit on Feb. 5, helped by steep cost cuts and shifting forward deferred revenue.

** TRANZYME INC, $0.59, up 6 pct (1033 ET)

The drugmaker said it will explore a possible sale of the company, less than two years after it went public and shortly after it stopped trials of one of its most advanced drug in development.

** MCDERMOTT INTERNATIONAL INC, $13.10, up 6 pct (1029 ET)

HSBC Securities started coverage on the U.S. engineering firm’s stock with a “neutral” rating and target price of $14, above Thursday’s close of $12.4 on the New York Stock Exchange. McDermott designs and executes offshore oil and gas projects.

** NCR CORP, $29.36, up 5 pct (1051 ET)

The ATM maker reported a fourth-quarter profit of 72 cents per share, beating analysts’ expectations of 70 cents per share.

** ENTEROMEDICS INC, $1.25, down 57 pct (1027 ET)

The company said its experimental device to treat obesity did not meet pre-defined efficacy targets in a late-stage study.

** ONCOLYTICS BIOTECH INC , $4.56, up 30 pct (1030 ET)

The company said a mid-stage trial of its experimental lung cancer drug showed that 95 percent of the patients experienced a reduction in the size of their tumors.

** NUANCE COMMUNICATIONS INC, $20.38, down 18 pct (1027 ET)

The speech recognition software maker forecast second-quarter revenue below analysts’ estimates, citing a fall in demand for its products in Europe, Middle East and Africa.

** VIEWPOINT FINANCIAL GROUP INC, $20.62, down 3 pct (1022 ET)

The bank reported results on Thursday after the bell which missed analysts’ estimates.

** ACTIVISION BLIZZARD INC, $13.19, up 9.4 pct (0946 ET)

The company’s earnings beat Wall Street expectations after its “Call of Duty” and “Skylanders” titles had blockbuster holiday sales, shoring up investor confidence in the world’s largest videogame publisher despite a cautious forecast for 2013.

** COINSTAR INC, $48.27, down 6 pct (0946 ET)

The operator of Redbox video rental kiosks forecast current-quarter results significantly below analysts’ estimates due to a slower movie release schedule.

** APOLLO GLOBAL MANAGEMENT LLC, $23.46, up 4 pct (0949 ET)

The company reported a 95 percent rise in quarterly earnings as strong gains in private equity profits, driven by asset sales, more than compensated for a drop in income in its credit investment business.

** GUESS INC, $28.41, up 5 pct (1015 ET)

Wedbush Securities Inc upgraded its rating on the U.S. clothing maker’s stock to “outperform” from “neutral,” saying the company’s new merchandise could affect a turnaround in North America.

The brokerage also cited improvement in accessories and encouraging sales growth in Asia and new markets in Europe for the upgrade.

** CONCHO RESOURCES INC, $95.94, up 4 pct (1019 ET)

The oil and gas producer on Thursday raised its production forecast for 2013 to between 33.4 and 34.8 million barrels of oil equivalent (boe) from the 32.9 to 34.3 million boe range it had forecast earlier, boosted by its drilling growth in oil-rich Delaware Basin spanning southern New Mexico and West Texas.

** VODAFONE GROUP PLC , $27.60, up 1.8 pct (0950 ET)

BofA Merrill Lynch raised the telecom operator’s rating to “buy” from “neutral.”

** TARO PHARMACEUTICAL INDUSTRIES LTD, $52.55, up 3.4 pct (0950 ET)

India’s Sun Pharmaceutical Industries ended its agreement to gain full control over its Israeli unit Taro Pharmaceutical.

** APPLIED MICRO CIRCUITS CORP, $8.73, up 0.7 pct (0950 ET)

The chipmaker believes selling low-power processors for cloud data centers run by the likes of Facebook, Google and Amazon.com could account for half of its business within three years.

** ADVANCE AUTO PARTS INC, $78.46, up 1.6 pct (0951 ET)

J.P. Morgan Securities upgraded the auto parts retailer’s stock to “overweight” from “neutral.” The company posted a fourth-quarter profit of 88 cents per share, largely beating analysts’ expectations of 75 cents per share.

** LABORATORY CORP OF AMERICA HOLDINGS, $89.91, down 1.8 pct (0951 ET)

The diagnostics testing company reported a drop in fourth-quarter profit on Friday and said bad weather had been partly to blame.

** WEB.COM GROUP INC <W WWW.O>, $17.41, up 8 pct (1108 ET)

The company reported quarterly results that beat market expectations as it added more subscribers prompting FBR Capital Markets to raise its price target on the stock to $23 from $21.

** UBIQUITI NETWORKS INC, $15.88, up 7 pct (0952 ET)

The wireless equipment products maker forecast a profit of between 20 and 24 cents per share, above what analysts had expected on an average.

** FLEETCOR TECHNOLOGIES INC, $67.45, up 13.3 pct (0953 ET)

The payments services provider reported a quarterly profit of 82 cents per share, better than the 75 cents per share that analysts on average expected.

** OPENTABLE INC, $49.89, up 1.2 pct (0953 ET)

The U.S. online restaurant reservation service provider reported quarterly results that beat analysts’ estimates, helped by an increase in the number of seated diners, and the company expects mobile devices to drive more revenue.

** MGM RESORTS INTERNATIONAL, $13.09, up 1.2 pct (0954 ET)

New Jersey regulators are set to reconsider a decision that had forced the company to put its stake in an Atlantic City casino up for sale, people familiar with the matter said, according to the Wall Street Journal.


The real estate investment trust (REIT) priced its initial public offering of 5.65 million shares at $21.25 per share.

The credit rating agency, which could face a federal lawsuit tied to pre-crisis ratings, said quarterly profit jumped 66 percent and forecast strong 2013 earnings, as it benefits from a wave of corporate debt issues. However, the company’s shares fell 4 percent as investors feared that the agency will face a federal fraud lawsuit tied to pre-crisis ratings.

** US AIRWAYS GROUP INC, $14.99, down 0.8 pct (0955 ET)

** AMR CORP, $1.26, up 0.8 pct (0955 ET)

AMR Corp creditors plan to meet on Monday and could vote on a potential merger agreement between the bankrupt parent of American Airlines, and US Airways Group, several people familiar with the matter said.

** CALLIDUS SOFTWARE INC, $4.34, up 0.2 pct (1104 ET)

The cloud software maker reported better-than-expected fourth-quarter results on higher subscriber additions and forecast first-quarter revenue above analysts’ estimates. (Compiled by Mridhula Raghavan in Bangalore)

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