(For more market insights, including options activity, click on ; for the Day Ahead newsletter http://link.reuters.com/mex49s, for the Morning News Call newsletter, http://link.reuters.com/faq23t)
April 26 (Reuters) - Some U.S. stocks on the move on Friday:
WALL STREET LOWER AFTER GDP DATA, AMAZON RESULTS
Stocks fell as the broadest measure of U.S. economic growth fell short of expectations in the first quarter and Amazon.com (NasdaqGS: AMZN - news) gave a disappointing outlook. Gross domestic product expanded at a 2.5 percent rate in the first quarter, the Commerce Department said, which was below estimates of 3 percent but stronger than the fourth quarter's 0.4 percent rate in 2012. The Dow Jones industrial average was down 6.44 points, or 0.04 percent, at 14,694.36. The Standard & Poor's 500 Index was down 6.84 points, or 0.43 percent, at 1,578.32. The Nasdaq Composite Index was down 19.94 points, or 0.61 percent, at 3,270.05.
** CHEVRON CORP, $120.06, up 1.3 pct (1110 ET)
The second-largest U.S. oil company posted a 4.5 percent decline in quarterly profit on Friday, pinched by weaker oil prices and work at its U.S. refineries.
** PFIZER INC (NYSE: PFE - news) , $30.00, down 0.8 pct (1110 ET)
European regulators declined to approve marketing of Pfizer's new rheumatoid arthritis treatment Xeljanz, citing the risks of the drug compared with its potential benefit, the company said on Thursday.
** AMAZON.COM INC, $255.52, down 7 pct (1111 ET)
Revenue growth slowed in the first quarter as the world's largest Internet retailer struggled overseas, but margins jumped on lower shipping expenses and the expansion of more profitable new businesses.
** STARBUCKS CORP, $59.77, down 1.2 pct (1111 ET)
It reported higher quarterly profit on Thursday that matched Wall Street estimates and it raised its full-year earnings forecast. But revenue was slightly below analysts' estimates.
** TYCO INTERNATIONAL LTD (NYSE: TYC - news) , $32.01, up 3 pct (1111 ET)
The fire safety and security systems maker reported an adjusted quarterly profit ahead of Wall Street estimates as underlying margins rose.
** THERAVANCE INC (NasdaqGS: THRX - news) , $32.58, up 5.4 pct (1333 ET)
The company plans to split into two publicly traded U.S. companies, separating some of its most advanced respiratory drugs under development with GlaxoSmithKline Plc (Other OTC: GLAXF - news) from its other biopharmaceutical operations.
** DYAX CORP (NasdaqGM: DYAX - news) , $2.76, down 33 pct (1333 ET)
The biopharmaceutical company reported a bigger-than-expected quarterly loss on slowing sales of its drug Kalbitor, which treats a rare immune system disorder. Dyax's forecast for full-year sales also fell well below analysts' estimates. Needham, Jefferies and Leerink Swann cut their price targets on Dyax stock Friday morning.
** SPS COMMERCE INC (NasdaqGS: SPSC - news) , $46.63, up 13 pct (1352 ET)
Web-based software maker for retailers and distributors on Thursday reported better-than-expected first-quarter results on higher demand for its services and forecast current-quarter results largely above estimates. The company also forecast 2013 revenue above estimates. Northland Capital Markets raised its target price to $48 from $43. Three other brokerages raised their price target on the company.
** SUNPOWER CORP, $13.77, up 13 percent (1400 ET)
Baird Equity Research upgraded the U.S. solar company's stock to "outperform" citing its project pipeline that the brokerage said could fetch more than $3.5 billion of revenue. The brokerage expects SunPower (SES: E2:5GD.SI - news) to give a break up of the pipeline at its analyst day on May 15. Baird also said that the company should benefit from its exposure to the growing Japanese solar market.
** MAXIM INTEGRATED PRODUCTS INC (NasdaqGS: MXIM - news) , $30.59, down 8 pct (1231 ET)
The chipmaker on Thursday reported better-than-expected results, but forecast current quarter results largely below estimates.
** ABAXIS INC (NasdaqGS: ABAX - news) , $41.29, down 7.4 pct (1324 ET)
The maker of blood analysis systems on Thursday reported fourth-quarter revenue marginally below analysts' estimates, as medical sales slowed, overshadowing a bigger-than-expected profit. Canaccord Genuity on Friday cut its price target on the stock to $37 from $40, citing weakness in medical sales and pressures in the veterinary market.
** CERNER CORP, $96.09, up 4.8 pct (1324 ET)
The health care IT company's first-quarter profit beat analysts' expectations, helped by a high level of bookings. Cerner's full-year adjusted profit and revenue forecast were in line with estimates.
** MERIT MEDICAL SYSTEMS INC (NasdaqGS: MMSI - news) , $9.80, down 11.8 pct (1325 ET)
The medical device maker's first-quarter results missed analysts' estimates, hurt by the medical device tax and expenses related to the recent Thomas Medical buy, and the company forecast full-year results below expectations. "We believe the worst of the storm is over, but a substantial amount of work and effort remain," Merit's Chief Executive Fred Lampropoulos said on Thursday.
** ANACOR PHARMACEUTICALS INC (NasdaqGM: ANAC - news) , $6.85, up 7.4 pct (1325 ET)
The biopharmaceutical company priced a public offering of 3.1 million common shares at $6.39 per share.
** DECKERS OUTDOOR CORP (NasdaqGS: DECK - news) , $54.30, down 8.6 pct (1325 ET)
The shoe maker, known for its UGG boots, on Thursday forecast a current quarter loss of about $1.10 per share. Analysts on average were expecting a loss of 96 cents per share, according to Thomson Reuters I/B/E/S.
Both Canaccord Genuity and ISI Group said investors were disappointed with the unexpected increase in first-quarter inventories and the second-quarter guidance.
** VCA ANTECH INC (NasdaqGS: WOOF - news) , $23.80, up 10.2 pct (1326 ET)
The animal healthcare company on Thursday reported first-quarter profit that beat market estimates, helped by improved margins in its laboratory business segment.
** SILICON MOTION TECHNOLOGY CORP (NasdaqGS: SIMO - news) , $10.66, down 7.4 pct (1326 ET)
Lazard Capital Markets cut its rating to "neutral" from "buy" on the semiconductor maker's stock, after the company reported lower-than-expected first-quarter adjusted profit on Thursday.
** SUPERIOR ENERGY SERVICES INC (NYSE: SPN - news) , $25.81, up 6 pct (1317 ET)
The oilfield services company reported a profit in-line with analysts' estimates on higher revenues from its pressure pumping unit.
** ITT EDUCATIONAL SERVICES INC (NYSE: ESI - news) , $18.00, down 10 pct (1326 ET)
Compass Point cut its rating on the for-profit education provider's stock to "sell" from "neutral," according to the website Benzinga.com.
** AUTOLIV , $75.16, up 5.9 pct (1327 ET)
The world's biggest maker of car safety equipment such as seatbelts and airbags was slightly more optimistic about core 2013 sales growth and stuck to its profitability goal after China helped compensate for a drastic European downturn.
** NOMURA HOLDINGS (Other OTC: NRSCF - news) , $8.13, up 4.2 pct (1327 ET)
Japan's largest brokerage reported its highest quarterly profit in seven years on Friday as it cashed in on the surge in domestic shares and booked a one-off gain on the sale of a property affiliate's stock.
** FEDERATED INVESTORS INC, $22.62, down 3.7 pct (1347 ET)
The asset manager reported a decline in quarterly revenue tied to fees it has waived on certain money market funds.
** AON PLC (NYSE: AON - news) , $59.13, down 3.5 pct (1327 ET)
The insurance broker reported a first-quarter profit that narrowly beat Wall Street estimates, but softness in operating margins at its human resources solutions business continued.
The company has said investments in its HR solutions unit, which provides consulting and outsourcing operations for companies, would start to pay off towards the end 2013. "We're going to see benefits (in the financials) particularly as we move into the third and fourth quarter of this year," chief executive Greg Case told Reuters.
** WEBSENSE INC (NasdaqGS: WBSN - news) , $17.54, up 14.7 pct (1328 ET)
The online security firm reported better-than-expected first-quarter results and said its seeing an increased sales pipeline for the second quarter and the rest of the year.
** CONSTANT CONTACT INC (NasdaqGS: CTCT - news) , $15.00, up 16.8 pct (1328 ET)
The online marketer on Thursday reported better-than-expected first-quarter results on higher demand for its services, but forecast second-quarter results below estimates. Two brokerages cut their target price on the company's stock.
** KEY ENERGY SERVICES INC (NYSE: KEG - news) , $6.01, down 15.2 pct (1347 ET)
The oilfield services provider reported a loss in the first quarter, compared with a year-earlier profit, due to sluggish North American drilling as gas prices remain weak. Reduced drilling at Key Energy's largest customer in Mexico brought international revenue down 12 percent, the company said.
** COBRA ELECTRONICS CORP (NasdaqGM: COBR - news) , $3.06, down 13.8 pct (1348 ET)
The communications gear maker reported a net loss in the first quarter, compared with a profit, a year earlier, blaming a weak global economy. Cobra (Milan: COB.MI - news) posted a net loss of $1.5 million or 23 cents per share, in the first quarter, compared with a net profit of $339,000 or 5 cents per share, a year earlier.
The stock, trading more than six times its average 10-day volume, was one of the top percentage losers on the Nasdaq.
** MICROSEMI CORP, $21.32, up 7.1 PCT (1348 ET)
The semiconductor maker on Thursday reported better-than-expected second-quarter results on lower costs, and forecast third-quarter adjusted profit largely above estimates.
** ACCO BRANDS INC, $6.51, down 5.1 percent (1355 ET)
The office products retailer reported much lower-than-expected quarterly results as computer product sales fell 12 percent and demand in North America for other office stationery fell.
** KBR INC (NYSE: KBR - news) , $29.99, up 1.6 pct (1329 ET)
The engineering company on Thursday reported a smaller-than-expected decline in quarterly earnings and improved profit margins as it worked hard at turning around some of its "problem projects."
** ITRON INC (NasdaqGS: ITRI - news) , $39.91, down 10.1 pct (1329 ET)
The power meter maker reported lower-than-expected quarterly results, hurt by lower revenue from the energy segment.
** DOLBY LABORATORIES INC (NYSE: DLB - news) , $33.96, up 4.8 pct (1355 ET)
The audio technology licensor on Thursday reported second-quarter results above analysts' expectations and forecast third-quarter adjusted profit above estimates.
** BEBE STORES INC (NasdaqGS: BEBE - news) , $5.08, up 5.6 percent (1329 ET)
Brokerage Janney Capital markets rased its rating on the women's-apparel retailer stock to "buy" from "neutral," citing increased confidence in the new leadership, an improved product line in sync with this year's fashion trends and better inventory management.
** UNISYS CORP, $18.31, up 6.3 pct (1356 ET)
Brokerage Susquehanna upgraded the IT consulting company to "positive" from "neutral," saying that the company has a stable backlog and said the company could buy back 5 percent of its shares. Analyst James Friedman of Susquehanna also said the second quarter is seasonally a strong one for the company. He raised his price target on Unisys' stock to $21 from $19.
The stock was one of the top percentage gainers on the New York Stock Exchange at 1056 ET.
** EXTREME NETWORKS INC (NasdaqGS: EXTR - news) , $3.28, up 6.5 pct (1356 ET)
The network gear maker named Charles Berger chief executive, succeeding Oscar Rodriguez who has resigned after three years at the helm.
Berger was previously the CEO of privately held software analytics company ParAccel.
** MAXIM INTEGRATED PRODUCTS INC, $30.40, down 7.6 pct (1330 ET)
The chipmaker on Thursday reported better-than-expected third-quarter profit on higher revenue. J.P Morgan and one another brokerage raised their target price on the chipmaker's stock.
** NATIONAL INSTRUMENTS CORP, $26.88, down 11.7 pct (1356 ET)
J.P. Morgan Securities cut the graphical application software and modular hardware maker to "neutral" from "overweight," citing deterioration in its earnings outlook and slowing growth in its largest customer.
The company's first-quarter profit beat analyst's expectations, but revenue lagged estimates. It earned 21 cents per share on a non-GAAP basis on revenue of $286 million. Analysts on average had forecast 18 cents per share on revenue of $287.8 million, according to Thomson Reuters I/B/E/S.
** BASIC ENERGY SERVICES INC (NYSE: BAS - news) , $13.30, up 5.5 pct (1357 ET)
Global Hunter (CDNX: BOB.V - news) upgraded the oilfield services provider's stock to "buy" from "accumulate," citing its "commendable" performance in the first quarter amid a slowdown in overall onshore drilling activity in North America. "Despite weaker than expected demand, pricing remained essentially unchanged from the year-end rate structure," said Basic Energy Chief Executive Ken Huseman, after the company reported a net loss compared with an year-earlier profit.
** DRESSER-RAND GROUP INC, $53.14, down 5.8 pct (1357 ET)
The rotating equipment and aftermarket parts supplier reported a better-than-expected quarterly result, but said bookings were down 19 percent for the first quarter compared with a year ago, mainly due to lower new unit bookings reflecting client delays in placing several major orders. The company reiterated its full year operating income guidance but said it could be towards the lower half of the range.
** AXIS CAPITAL HOLDINGS LTD, $43.72, up 2.9 pct (1357 ET)
The Bermuda-based insurer and reinsurer reported bettter-than-expected quarterly profit, driven by premium growth in both its insurance and reinsurance divisions. Brokerage Raymond James raised the company's stock to "outperform" from "market perform," the flyonthewall.com reported.
** DARLING INTERNATIONAL INC (NYSE: DAR - news) , $18.47, up 5 pct (1121 ET)
Brokerage Stephens Inc raised its rating on the bakery waste recycling company, saying it expects the stock to be driven up by deployment of the company's significant free cash flow - about $110 million to $115 million annually - through dividends, share buybacks and acquisitions. The brokerage also raised its price target on the stock to $21 from $17.
** PENNYMAC MORTGAGE INVESTMENT TRUST, $24.60, up 3.4 pct (1332 ET)
Brokerage KBW raised the company's stock to "outperform" from "market perform," saying strong earnings from the distressed portfolio, helped the mortgage REIT to beat estimates.
** USG CORP, $26.00, down 0.7 pct (1330 ET)
RBC Capital Markets cut its rating on the building products maker's stock to "outperform" from "top pick," and said though it continues to have a favorable view of the company's high-margin ceiling grid business, demand would remain choppy.
** D.R. HORTON INC, $26.44, up 7.8 pct (1332 ET)
** LENNAR CORP (NYSE: LEN - news) , $42.50, up 1.4 pct (1333 ET)
D.R. Horton, the No.1 U.S. home builder reported a 173 percent jump in quarterly profit and said the spring selling season was off to a strong start. Record (LSE: REC.L - news) -low interest rates and rising rents have prompted Americans to buy homes, leading to shortage of new houses.
Homebuilder Lennar's stock was also up on the news.
** PULTEGROUP INC (NYSE: PHA - news) , $21.16, up 1.8 pct (1333 ET)
The No. 2 U.S. homebuilder reported a better-than-expected quarterly profit on Thursday as its strategy of selling fewer homes at higher prices paid off. [ID;nL3N0DC8SL]
** CIRRUS LOGIC INC (NasdaqGS: CRUS - news) , $17.88, down 8.8 pct (1333 ET)
The audio chipmaker on Thursday reported fourth-quarter results above analysts' expectations, but brokerage Needham & Company cut its target price on the company's stock, citing lower revenue from Apple (NasdaqGS: AAPL - news) than "previously anticipated."
** LAZARD LTD, $33.55, down 1.2 pct (1334 ET)
The investment bank reported a 40 percent fall in first-quarter profit, earning less from its financial advisory business in a subdued merger and acquisitions market.
** TRANSCANADA CORP (Toronto: TRP.TO - news) , $48.13, down 1.2 pct (1334 ET)
Canada's largest pipeline company reported a 27 percent rise in first-quarter profit, and said it now expects its Keystone XL pipeline to be in service in the second half of 2015.
** BAIDU INC (NasdaqGS: BIDU - news) , $85.51, down 7.4 pct (1335 ET)
China's largest search engine will increase marketing expenditures for the rest of the year to counter competition from rival Qihoo 360 Technology, which may further put the brakes on profit growth.
** PERKINELMER INC (NYSE: PKI - news) , $30.19, down 12.4 pct (1336 ET)
The maker of scientific instruments, diagnostic equipment and environmental safety monitoring products on Thursday reported lower-than-expected first-quarter profit and decreased its full-year forecast as difficult economic conditions and a stronger dollar hurt sales in Europe and Japan.
** ECHO GLOBAL LOGISTICS INC (NasdaqGS: ECHO - news) , $18.20, down 4.6 pct (1336 ET)
The logistics company cut its 2013 earnings forecast to between 78 and 84 cents per share from between 82 and 90 cents, and lowered its revenue outlook to $900 million to $940 million from $940 million to $980 million.
Analysts on average were expecting earnings of 85 cents per share on revenue of $960.6 million, according to Thomson Reuters I/B/E/S.
** J.C. PENNEY CO, $16.59, up 8.9 pct (1336 ET)
Billionaire investor George Soros reported a 7.9 percent passive stake in the struggling department store chain on Thursday.
** FREESCALE SEMICONDUCTOR LTD, $15.70, up 7.9 pct (1337 ET)
The chipmaker reported a much smaller-than-expected first-quarter loss and forecast upbeat second-quarter revenue, as demand from its Chinese customers improved.
** EXPEDIA INC (NasdaqGS: EXPE - news) , $58.46, down 10 pct (1337 ET)
The online travel agency reported a higher-than-expected first-quarter adjusted profit, but warned of a lower full-year profit from its discount travel website Hotwire due to higher car rental rates and increased competition.
** MICROS SYSTEMS INC (NasdaqGS: MCRS - news) , $42.10, down 3.3 pct (1337 ET)
The company, which makes data management systems for retailers and hotel chains, reported much weaker-than-expected third-quarter results, as hardware sales grew a lackluster 2 percent and software sales declined. Micros also cut its full-year outlook.
** VERISIGN INC (NasdaqGS: VRSN - news) , $44.62, up 3.2 pct (1338 ET)
The issue of .com and .net Internet domains names reported a better-than expected quarterly profit as revenue rose 15 percent. Excluding items, the company earned 58 cents per share, on revenue of $236 million. Analysts expected an adjusted profit of 54 cents per share and revenue of 232.6 million, according to Thomson Reuters I/B/E/S.
** LDK SOLAR CO LTD, $1.30, down 1.6 pct (1338 ET)
The indebted Chinese solar panel maker on Friday said it would sell 25 million shares to Fulai Investments Ltd for about $26 million to fund its operations. Fulai will pay $1.03 per share, a discount of about 20 percent to LDK's Thursday close on the New York Stock Exchange.
** INTERNATIONAL GAME TECHNOLOGY (NYSE: IGT - news) , $16.99, down 1.8 pct (1338 ET)
The slot-games maker on Thursday reported better-than-expected second-quarter results on higher revenue from its social gaming business, which more than doubled from a year earlier. The company, whose stock touched a year-high yesterday, also raised its full-year 2013 forecast for adjusted profit, prompting J.P. Morgan (Other OTC: MGHL - news) and another brokerage to raise their target price on the company's stock.
** ALTERA CORP (NasdaqGS: ALTR - news) , $31.17, down 5.3 pct (1339 ET)
The programmable chipmaker posted revenue slightly below expectations in the first quarter and said it was beginning to see a recovery from a dip in demand from its communications and industrial customers.
** SYNAPTICS INC (NasdaqGS: SYNA - news) , $42.48, up 10.2 pct (1339 ET)
The touchscreen chipmaker forecast current-quarter results far above analysts' estimates on Thursday and confirmed that it had won contracts from Samsung Electronics Co Ltd for its Galaxy S4 smartphone and Note 8 tablet.
** LOGMEIN INC (NasdaqGS: LOGM - news) , $21.78, up 21.9 pct (1339 ET)
The maker of remote-access software posted better-than-expected quarterly results as it won a record 37,000 paying subscribers, and the company forecast second-quarter revenue above analysts' estimates.
** INFORMATICA CORP, $34.04, up 5.4 pct (1340 ET)
** QLIK TECHNOLOGIES INC (NasdaqGS: QLIK - news) , $27.15, up 13.8 pct (1340 ET)
The business software makers reported better-than-expected quarterly revenue and raised their full-year revenue forecasts as enterprises spent more on integrating and analyzing data.
** CURIS INC (NasdaqGM: CRIS - news) , $3.60, up 5.7 pct (1341 ET)
** VIVUS INC (NasdaqGS: VVUS - news) , $12.95, up 4.2 pct (1341 ET)
** AVANIR PHARMACEUTICALS INC (NasdaqGS: AVNR - news) , $3.79, up 18.8 pct (0947 ET)
European health regulators on Thursday recommended approval of Roche Holdings AG's drug Erivedge to treat people with advanced forms of basal cell carcinoma, the most common skin cancer. Curis is Roche's partner on the drug and is entitled to certain payments from it.
The European Medicines Agency experts also backed Avanir's Nuedexta to treat a neurologic disorder called pseudobulbar effect, and Vivus's erectile dysfunction drug Spedra.
** KLA-TENCOR CORP, $51.42, down 8 pct (1341 ET)
The chip equipment maker reported lower quarterly results on Thursday and said its outlook for the rest of the year has weakened due to manufacturers' concerns about the global economy.
** HOMEX DEVELOPMENT CORP , $5.34, down 24 pct (1342 ET)
The Mexican homebuilder's first-quarter profit and revenue fell sharply as it struggled with slowing home sales and a rising debt load, the company said on Thursday.
** MOLINA HEALTHCARE INC (NYSE: MOH - news) , $33.53, down 0.9 pct (1344 ET)
The health insurer reported a first-quarter profit that was much above analysts' estimates, helped by a rate increase as its California health plan and better performance at the Florida, Texas, Ohio and Wisconsin health plans, among others.
** DECKERS OUTDOOR CORP, $54.30, down 8.6 pct (1344 ET)
The shoe maker, known for its UGG boots, on Thursday forecast a current quarter loss of about $1.10 per share. Analysts on average were expecting a loss of 96 cents per share, according to Thomson Reuters I/B/E/S.
Both Canaccord Genuity and ISI Group said investors were disappointed with the unexpected increase in first-quarter inventories and the second-quarter guidance.
** ABBVIE INC (NYSE: ABBV - news) , $45.99, up 3.9 pct (1345 ET)
AbbVie, the pharmaceuticals business spun off in January by Abbott Laboratories (Xetra: 850103 - news) , reported slightly better than expected quarterly results, fueled by surging sales of its Humira treatment for rheumatoid arthritis. (Compiled by Sruthi Ramakrishnan in Bangalore; Editing by Joyjeet Das)
