October 12, 2012 / 4:13 PM / 6 years ago

MARKET PULSE-Workday, AMD, Liquidity Services, Lexicon, Travelzoo

Oct 12 (Reuters) - Some U.S. stocks on the move on Friday:

(For the Morning News Call newsletter click on link.reuters.com/nex49s; For The Day Ahead newsletter click on link.reuters.com/mex49s)


U.S. stocks declined, reversing earlier gains as bank shares weighed after Wells Fargo’s results, though better than forecast, triggered concern about sector revenues.

The Dow Jones industrial average dipped 2.69 points, or 0.02 percent, to 13,323.70. The S&P 500 dropped 6.06 points, or 0.42 percent, to 1,426.78. The Nasdaq Composite slipped 8.22 points, or 0.27 percent, to 3,041.19.

** WELLS FARGO & CO, $34.00, down 3.3 pct (1006 ET)

The fourth biggest U.S. bank recorded lower net interest income and net interest margin for the third quarter, compared with second quarter.

** JPMORGAN CHASE & CO, $41.94, down 0.3 pct (1005 ET)

The company posted a record quarterly profit - up 34 percent from a year earlier - as low interest rates and a recovering housing market brought big increases in mortgage lending.

The results signal the largest U.S. bank is recovering from the so-called “London whale” trades that resulted in losses of nearly $6 billion in the first half of the year but only a “modest loss” in the latest quarter.

** WORKDAY INC, $45.56, up 62.7pct (1124 ET)

Shares of the company soared 72 percent in their market debut on Friday, as the market for enterprise software continues to hold strong.

The Pleasanton, California-based company, considered a leader in the cloud computing sector, opened New York Stock Exchange trading at $48.05 after pricing shares above the expected range at $28.00. It sold 22.75 million shares, raising $637 million.

** AETERNA ZENTARIS INC , $2.42, down 22.4 pct (1124 ET)

The drug development company said it started an offering 6.6 million shares and warrants to purchase shares at $2.50 per each.

** CELGENE CORP, $79.51, up 2.3 pct (1025 ET) U.S. health regulators widened the approved use of Celgene’s breast cancer drug Abraxane to include treatment for non-small cell lung cancer, the most common form of lung cancer.

** LIQUIDITY SERVICES INC, $39.11, down 10.3 pct (1031 ET)

BofA Merrill Lynch downgraded the online auctioneer to “neutral”, Streetinsider.com reported.

** FOREST OIL CORP, $8.93, up 1.13 pct (1030 ET)

The natural gas and oil company said it will sell all of its non-core South Louisiana properties for about $220 million and use the proceeds to repay debts. Forest Oil will continue to focus on selling other non-core assets to cut debt load, it said in a statement.

** LEXICON PHARMACEUTICALS INC, $2.60, up 8.8 pct (1123 ET)

The biopharmaceutical company said its experimental bowel disorder drug met the main goal of reducing bowel movements in patients with gastrointestinal cancer in a mid-stage study.

** ADVANCED MICRO DEVICES INC, $2.90, down 9.5 pct (1123 ET)

The chipmaker said on Thursday its third-quarter revenue likely fell 10 percent from the previous quarter as a weak global economy and growing preference for tablets slams the PC industry.

Several brokerages including UBS Investment Research, BMO Capital Markets, Jefferies & Co cut its price target on the company’s stock.

** TRAVELZOO INC, $20.22, down 13.9 pct (1018 ET)

The online travel-deals company estimated third-quarter results that came in below analysts’ forecast, sending its shares down as much as 17 percent in early morning trade.

** STMICROELECTRONICS , $6.19, up 9.7 pct (1013 ET)

The Europe’s top semiconductor maker on Friday responded to a report that it was mulling a corporate breakup by denying that it had any plans to undo the group’s “unity”.

** APPLE INC, $632.02, up 0.7 pct (1010 ET)

The company is expected to take the wraps off its highly anticipated mini iPad at an Oct. 23 invitation-only event, reported tech blog AllThingsD on Friday, citing sources familiar with the company.

** LAREDO PETROLEUM HOLDINGS, $21.14, up 1.5 pct (1019 ET)

The gas-focused exploration and production company said it would offer 12.5 million shares in a secondary offering at $20.25 per share.

The company, whose initial public offering in Dec last year failed to spark enough investor interest, said all of the proceeds from the sale will go to existing stockholders who are selling the shares.

** NPS PHARMACEUTICALS INC, $10.38 , up 13.7 pct (1001 ET)

U.S. drug reviewers found three serious concerns related to the company’s experimental drug for short bowel syndrome, but said they did not think it needed to be restricted for safety reasons, according to documents posted by the Food and Drug Administration on its website Friday.

** LSB INDUSTRIES, $40.36, down 7 pct (1148 ET)

The company said its third-quarter results were “adversely affected” by lower-than-expected production at its main ammonia plant and additional expenses at its El Dorado, Arkansas facility.

** STEMCELLS INC, $2.18, up 7.9 pct (1146 ET)

The company said the U.S. regulators granted it a patent covering its stem cell technology and its related uses.

** SEAGATE TECHNOLOGY PLC, $28.07 down 0.67 pct (1119 ET)

Citi Investment Research analyst Joe Yoo cut his rating on the hard disk maker’s stock to “sell” from “buy” along with its rival Western Digital Corp.

** INFOSYS LTD , $43.47, down 10 pct (1113 ET)

The Indian software services provider again disappointed investors hoping for a more robust growth outlook, undermining its standing as the country’s information technology bellwether.

** ECOLAB INC, $65.74, up 3.3 pct (1111 ET)

The cleaning services company will buy privately held oilfield specialty chemicals maker Champion Technologies Inc for about $2.2 billion to tap into rising demand for products used in oil and natural gas drilling and help to make up for under-investment in North America.

** DOLLAR TREE INC, $41.9, down 3.1 pct (1004 ET)

Jefferies & Co downgraded the discount retailer to “hold” from “buy” after it said it would report third-quarter sales at the low end of its earlier forecast.

** WAL-MART STORES INC, $75.78, up 1 pct (1006 ET)

Wal-Mart is offering its U.S. employees and their families free heart and spine surgeries at six major health centers at no cost to the retailer’s workers, as it tries to find better ways to cover costly, complicated procedures.

** DEAN FOODS CO, $15.09, up 3 pct (1008 ET)

Stifel Nicolaus upgraded the dairy company to “buy” from “hold,” expecting benefits from the initial public offering of the WhiteWave unit later this year and the proposed sale of the Morningstar division.

** J.B. HUNT TRANSPORT SERVICES INC, $58.79, up 7.2 pct (1009 ET)

The surface transport and delivery company posted a quarterly profit that narrowly missed estimates but revenue beat on strong growth in the intermodal segment.

** EMAGIN CORP, $4.16, up 8.6 pct (1010 ET)

Piper Jaffray & Co started coverage on the stock with an “overweight” rating.

** BOEING CO, $71.89, up 1.5 pct (1011 ET)

The European Union accused the United States on Thursday of ignoring a World Trade Organization ruling to stop subsidies to the planemaker and asked the Geneva-based body to investigate, prolonging the world’s largest trade dispute.

** LINN ENERGY LLC, $40.42, up 1.02 pct (1014)

** LINNCO LLC, $37.80, up 3.6 pct (1105 ET)

Shares of LinnCo, a company set up to buy a stake in U.S. oil and gas producer Linn Energy, rose more than 3 percent on their debut, a day after the company priced its offering at $36.50 per share. (Compiled by Aditi Shrivastava in Bangalore) (aditi.shrivastava@thomsonreuters.com, within U.S. +1 646 223 8780, outside U.S. +91 80 4135 5783, Reuters messaging: aditi.shrivastava.reuters.com@reuters.net)

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