February 8, 2013 / 6:08 PM / in 5 years

MARKET PULSE-Apple, Emerald Oil, Guidance, Misonix, Zynga, Moody's

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


U.S. stocks edged higher on Friday, with the benchmark S&P index hitting a five-year high after a batch of positive economic reports, but gains were capped as investors grew cautious about a further advance.

The Dow Jones industrial average was up 34.83 points, or 0.25 percent, at 13,978.88. The Standard & Poor’s 500 Index was up 6.06 points, or 0.40 percent, at 1,515.45. The Nasdaq Composite Index was up 25.90 points, or 0.82 percent, at 3,191.04.

** APPLE INC, $473.03, up 1.6 pct (1141 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.

** VODAFONE GROUP PLC , $27.56, up 1.7 pct (1228 ET)

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

** MCDONALD‘S CORP, $95.31, up 0.7 pct (1141 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.

** ENTEROMEDICS INC, $1.26 down 55 pct (1222 ET)

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

** CAESAR‘S ENTERTAINMENT $12.86, up 27 percent (1142 ET)

** BOYD GAMING $7.83, up 11 percent (1142 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.

** ONCOLYTICS BIOTECH INC , $4.41, up 23.5 pct (1223 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.

** GUIDANCE SOFTWARE INC, $9.37, down 21 pct (1143 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.

** MISONIX INC, $5.64, down 20.2 pct (1142 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]

** LINKEDIN CORP, $147.38, up 18.7 pct (1143 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.

** NUANCE COMMUNICATIONS INC, $20.00, down 18.5 pct (1223 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.

** RIVERBED TECHNOLOGY INC, $16.45, down 18.2 pct (1144 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.

** EXONE CO, $30.78, up 15 pct (1211 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.

** JUST ENERGY GROUP, $8.41 down 14 pct (1234 ET)

Just Energy which is engaged in sale of natural gas and electricity to residential and commercial customers said it expects 2013 gross margins to increase “no more than 8 percent,” down from its previous forecast of between 10 percent and 12 percent. The company also reported a 32 percent cut in annualized dividend to 84 cents per share. It cut its monthly dividend to 7 Canadian cents a month from 10.33 Canadian cents.

** FLEETCOR TECHNOLOGIES INC, $67.32, up 13 pct (1233 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.

** ACTIVISION BLIZZARD INC, $13.50, up 12.5 pct (1225ET)

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.

** TRANZYME INC, $0.62, up 11.6 pct (1219 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.

** ZYNGA INC, $3.46, up 11 pct (1219 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.

** WEB.COM GROUP INC, $17.88, up 11 pct (1231 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.

** NET 1 UEPS TECHNOLOGIES INC, Tuesday close $5.3, up 10.7 pct (1205 ET)

The South African payment processor, reported lower second-quarter profits compared to a year earlier, hurt by U.S. DOJ-FBI investigations on the company, which had “some adverse impact on its reputation,” the company said.

EMERALD OIL, $7.00, up 10.23 pct (1253 ET) Brokerage firm Wunderlich Securities raised the price target on the oil and gas explorer’s stock to $6 from $5.

** RUCKUS WIRELESS INC $23.60, up 10 pct (1150 ET)

There are rumors in the market that the WiFi products maker is possibly going to be acquired, Craig-Hallum Capital analyst Rajesh Ghai said. However, adding that he does not have any specific information about it. He also said potential buyers could include Nokia Siemens, Alcatel-Lucent and Juniper Networks.

Ruckus debuted on the New York Stock Exchange last year in November, and failed to impress after higher pricing of its offering tempered investor enthusiasm in a weak U.S. IPO market. Ruckus Wireless makes WiFi technology for corporate and service providers, helping them offload traffic from their cellular networks

** MOLINA HEALTHCARE INC, $31.65, up 9.6 pct (1144 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]

** PARAMETRIC SOUND CORP, $10.15 up 9 pct (1215 ET)

The company which makes directed audio products said its first-quarter revenue rose about 70 percent over last year helped by higher demand for its products.

** SKULLCANDY INC, $6.05, down 8.5 pct (1217 ET)

The headphones company forecast 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 $16.11, down 8.2 pct (1218 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-evaualte employee compensation after that. Tessera also said it would look at a possible sale of its silent air cooling business.

** SUNPOWER CORP, $7.91, down 7.8 pct (1147 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.

** NIC INC, $16.96, up 7.5 pct (1145 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.

** AOL INC, $33.76, up 7.5 pct (1216 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.

** MICROCHIP TECHNOLOGY INC, $36.38, up 7 pct (1145 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.

** UBIQUITI NETWORKS INC, $15.91, up 7 pct (1231 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.

** MOODY‘S CORP, $44.07, down 6.2 pct (1210 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.

** OPKO HEALTH INC, $6.42, down 6 pct (1232 ET)

The company dispelled market rumors alleging insider trading, saying Opko’s chief Accounting Officer, Adam Logal sold his entire stake in the company “to address pressing family circumstances.”

“No other company officer has exercised common stock options or sold any shares of Company common stock during the last twelve months,” Opko said in a statement.

** 3SBIO INC, $14.60, up 5.9 pct (1203 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.

** MCDERMOTT INTERNATIONAL INC, $13.10, up 5.8 pct (1220 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.

** AMR CORP, $1.32, up 5.6 pct (1233 ET)

** US AIRWAYS GROUP INC, $14.81, down 2 pct (1233 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.

** CORRECTIONS CORP OF AMERICA, $36.98, down 5.6 percent (1204 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]

** TARO PHARMACEUTICAL INDUSTRIES LTD, $53.28, up 5.4 pct (1230 ET)

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

** RADIOSHACK CORP, $3.27, up 5 pct (1202 ET)

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

** NCR CORP, $29.31, up 4.8 pct (1221 ET)

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

** CONCHO RESOURCES INC, $96.12, up 4.7 pct (1227ET)

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.

** GUESS INC, $28.22, up 4.6 pct (1227 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.

** VIEWPOINT FINANCIAL GROUP INC, $20.43, down 4.5 pct (1225 ET)

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

** OPENTABLE INC, $50.89, up 3.2 pct (1233 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, $13.32, up 3 pct (1233 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.

** APOLLO GLOBAL MANAGEMENT LLC, $22.80, up 2.9 pct (1227 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.

** LABORATORY CORP OF AMERICA HOLDINGS, $89.97, down 1.8 pct (1231 ET)

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

** ADVANCE AUTO PARTS INC, $78.30, up 1.5 pct (1230 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.

** APPLIED MICRO CIRCUITS CORP, $8.76, up 1 pct (1230 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.


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. (Compiled by Mridhula Raghavan in Bangalore)

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