March 8, 2013 / 6:39 PM / 5 years ago

MARKET PULSE-Ambarella, Pandora, Quiksilver, Skullcandy, Medifast

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


U.S. stocks edged higher on a much stronger-than-expected payrolls report, but gains were capped as investors sold some bank shares to book profits in the wake of the Federal Reserve’s “stress tests” results. The Dow Jones industrial average was up 0.17 percent, the Standard & Poor’s 500 Index up 0.12 percent and the Nasdaq Composite Index up 0.09 percent.

** PANDORA MEDIA INC, $13.81, up 18 pct (1209 ET)

The Internet music service company reported stronger-than-expected quarterly results and said CEO Joseph Kennedy is stepping down and the search for a replacement has begun, in a surprise announcement.

At least eight brokerages raised their price targets on the company’s stock, which was one of the top percentage gainers on the New York Stock Exchange. The shares were trading almost four times their average 10-day volume.

** SKULLCANDY INC, $5.27, down 21 pct (1210 ET)

The headphone maker reported higher-than-expected fourth-quarter revenue but said it expects to post a loss in the current quarter due to loss of a major customer and higher expenses related to international expansion.

The stock , trading nearly eight times its average 10-day volume, was the top percentage loser on the Nasdaq at 1224 ET.

** ANN INC, $31.57, up 9 pct (1211 ET)

The women’s apparel retailer reported a fourth-quarter profit that beat Wall Street estimates as sales growth at its Ann Taylor stores offset weakness at the LOFT chain.

** MAXWELL TECHNOLOGIES INC, $8.04, down 12 pct (1211 ET)

The company said late Thursday that its previously issued financial statements for the full-year 2011 and unaudited quarterly reports in 2011 and 2012 should not be relied upon due to errors relating to the timing of recognition of revenue from sales to certain distributors.

Maxwell expects revenue to fall by about $6.5 million in 2011 and by about $5.5 million in the first three quarters of 2012.

The company’s stock was trading about three and a half times its average 10-day volume.

** TECUMSEH PRODUCTS CO, $8.04, down 16 pct (1212 ET)

The company, which makes air conditioning and refrigeration compressors, said it has engaged a financial adviser to explore strategic options.

The stock, trading nearly five times its average 10-day volume, was one of the top percentage losers on the Nasdaq.

** AMBARELLA INC, $14.27, up 19 pct (1212 ET)

The chipmaker reported better-than-expected fourth-quarter results on Thursday, helped by higher demand in its automotive and sports camera markets.

At least three brokerages raised their price target on the stock. “The company continues to see strong demand for high-end camera products which is offsetting the continued decline in high-margin infrastructure revenue,” Deutsche Bank analyst Ross Seymore wrote in a note.

The stock was the second-top percentage gainer on the Nasdaq at 1300 ET.

** FOOT LOCKER INC, $33.30, down 6 pct (1213 ET)

The sports footwear retailer reported a fourth-quarter profit that missed analysts’ estimates on higher expenses.

** CELLDEX THERAPEUTICS INC, $11.51, up 10 pct (1214 ET)

Two brokerages raised their price target on the biotechnology company’s stock, saying Celldex’s experimental cancer therapies, CDX-011 and rindopepimut, showed promise.

Jefferies & Co analyst Biren Amin raised his price target to $15 from $9. “CLDX represents a compelling biotech play with 2 (late-stage) and 3 (early and mid-stage) candidates providing multiple shots on goal,” Amin said.

Cantor Fitzgerald analyst Mara Goldstein said “The drugs are largely viewed as ‘under the radar programs’, and clinical advancement could serve as catalysts for continued stock price appreciation.” Goldstein raised her price target to $16 from $13.

** SEQUENOM INC, $4.18, down 7 pct (1215 ET)

The diagnostic tests maker reported a larger-than-expected quarterly loss as costs of performing diagnostic tests nearly tripled.

Sequenom posted a fourth-quarter loss of 29 cents per share. Analysts had expected a loss of 23 cents per share, according to Thomson Reuters I/B/E/S.

** NAVISTAR INTERNATIONAL CORP, $34.91, up 9 pct (1216 ET)

Nine months ago, Troy Clarke was introduced to Wall Street as Navistar’s CEO-in-waiting. On Thursday, Clarke finally snagged that promotion, after the U.S. truck maker took a couple of unexpected detours.

J.P. Morgan Securities raised its rating on the stock to “overweight” from “neutral”, saying the company is successfully navigating its way out of its recent troubles with a failed engine technology, and that the appointment of the CEO is likely a sign that the ship has been turned ahead of plan.

The brokerage raised its price target to $45 from $23. Robert W. Baird & Co also raised its target to $38 from $30.

The stock, trading about two times its average 10-day volume, was one of the top percentage gainers on the New York Stock Exchange at 1229 ET.

** AVG TECHNOLOGIES NV, $14.00, down 11 pct (1216 ET)

AVG Technologies, a maker of PC and mobile anti-virus software, said J R Smith stepped down as chief executive and will become a member of the company’s supervisory board.

Brokerage JMP Securities cut its rating on AVG to ”market perform’ from “market outperform”.

AVG’s stock was the top percentage loser on the New York Stock Exchange at 1228 ET.

** H&R BLOCK INC, $27.01, up 8 pct (1216 ET)

H&R Block reported a bigger-than-expected quarterly loss due to a delayed start to the U.S. tax season, but the tax preparer said it expects cost cuts to drive its profit in fiscal 2013.

Oppenheimer & Co raised its price target on the stock, saying it still expects strong results for the full tax season due to good online performance.

** MEDIFAST INC, $22.35, down 8 pct (1217 ET)

The weight-loss and vitamin company on Thursday forecast first-quarter results below Wall Street estimates.

Brokerages Canaccord Genuity and Janney Capital Markets cut their price targets on the company’s stock, which was trading more than three times its average 10-day volume on Friday.

** TEMPUR-PEDIC INTERNATIONAL INC, $45.27, up 6 pct (1217 ET)

The specialty mattress maker said it received clearance from the Federal Trade Commission for its acquisition of mattress-maker Sealy Corp. The company said it plans to close the transaction on March 18.

** ANGIODYNAMICS, $11.00, down 12.5 pct (1218 ET)

The medical device maker said on Thursday that it expects to report third-quarter net sales of about $82 million, below its prior outlook of $89 million-$90 million.

“Across most of our product lines, when comparing the third to the second quarter, our average daily sales were flat ... we also clearly did not anticipate the weaknesses we saw in elective procedures and in the overall market,” Chief Executive Officer Joseph DeVivo said.

The stock was trading nearly four times its average 10-day volume.

** QUIKSILVER INC, $5.94, down 5.5 pct (1219 ET)

The sportswear retailer on Thursday reported first-quarter sales below Wall Street estimates, hurt by the closure of underperforming retail stores and weakness in the Americas.

** UNITED CONTINENTAL HOLDINGS INC, $31.54, up 6.5 pct (1219 ET)

United Airlines, the unit of United Continental, on Thursday reported an increase of 6.5 percent to 7.5 percent for its consolidated passenger revenue per available seat mile in February.

The United Continental stock touched a five-year high on Friday. UBS Investment Research raised its price target on the company’s stock to $34 from $29.

** ENERGY RECOVERY INC, $4.41, down 6 pct (1220 ET)

The company reported a larger quarterly loss on Wednesday and said it expected modest growth in revenue in 2013. Wedbush Securities Inc analyst David Rose said the outlook was “uninspiring”.

** BPZ RESOURCES INC, $2.59, up 6 pct (1223 ET)

The oil and gas producer reported a fourth-quarter net profit, compared with a net loss a year earlier. The income included proceeds from the sale of 49 percent interest in an offshore block in Peru to Pacific Rubiales Energy Corp.

** POWERSECURE INTERNATIONAL INC, $9.85, up 3 pct (1225 ET)

The utility and energy technologies provider reported a fourth-quarter profit that more than doubled and beat analysts’ estimates on Thursday. The company also said it is seeing strong demand from its generation and utility infrastructure customers in 2013. The shares, which touched a more than two-year high on Friday, was trading nearly four times its average 10-day volume.

** FUEL SYSTEMS SOLUTIONS INC, $15.70, up 7.9 pct (1306 ET)

The alternative-fuel components maker reported a surprise fourth-quarter adjusted profit and forecast revenue for the current year largely above estimates.

The company reported an adjusted profit of 1 cent per share for the quarter ended Dec. 31, while analysts on average had expected a loss of 3 cents per share, according to Thomson Reuters I/B/E/S.

Fuel Systems expects full-year sales in the range of $400 million to $420 million, while analysts had expected $408.3 million.

** QUICKSILVER RESOURCES INC, 2.04, up 10 pct (1312 ET)

The company’s shares rose on an uptick in natural gas prices, according to analysts. U.S. natural gas prices were up 1 percent at $3.62 per million British thermal units on Friday. (Compiled by Chandni Doulatramani in Bangalore; Editing by Maju Samuel)

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