MARKET PULSE-Primero, Zynga, Triquint, Mercury Computer, Avon
Oct 5 (Reuters) - Some U.S. stocks on the move on Friday:
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WALL STREET RISES AT OPEN AFTER PAYROLLS REPORT
U.S. stocks rose at the open with the S&P 500 set to hit its highest since 2007, as the September payrolls report showed a surprise drop in the jobless rate and gave legs to this week's rally.
The Dow Jones industrial average rose 56.93 points, or 0.42 percent, to 13,632.29. The Standard & Poor's 500 Index
was up 5.70 points, or 0.39 percent, at 1,467.10. The Nasdaq Composite Index increased 12.47 points, or 0.40 percent, to 3,161.93.
** PRIMERO MINING CORP , $7.70, up 42.75 pct (0958 ET)
The junior gold miner said it received a positive ruling from Mexican tax authorities on how it reports silver revenues. The ruling confirms that Primero can record silver revenue and taxes from its San Dimas gold mine in Durango state at the realized silver price rather than the spot price.
** ZYNGA INC , $2.24, down 20.5 pct (0959 ET) ** FACEBOOK INC , $21.50, down 2 pct (0959 ET) ** GLU MOBILE INC , $3.99, down 6.66 pct (1001 ET)
Brokerages lowered their price targets on the stock by up to 40 percent after the "Farmville" game maker slashed its 2012 outlook for the second time due to a decline in the number of paying customers.
Facebook, which derives over a tenth of its revenue from fees paid by Zynga, was also down as was Glu Mobile.
** HEWLETT-PACKARD CO , $14.79, down 1 pct (1003 ET)
Sterne Agee & Leach downgraded the stock to "neutral" while RBC Capital Markets, Robert W. Baird & Co, Jefferies & Co and J.P. Morgan Securities cut their price targets on after CEO Meg Whitman warned of an unexpectedly steep earnings slide in 2013.
F5 NETWORKS INC , $107.43, down 1.3 pct (1005 ET)
Barclays Capital downgraded the network gear maker's stock to "equal weight" from "overweight" and cut its price target on the stock to $105 from $115.
** TRIQUINT SEMICONDUCTOR INC , $5.31, up 6 pct (1008 ET)
Lazard Capital Markets started coverage on the chipmaker's stock with a "buy" rating.
** MERCURY COMPUTER SYSTEMS INC , $7.79, down 19 pct (1009 ET)
Lazard Capital Markets downgraded the signal and image processing systems maker to "neutral." Jefferies & Co cuts cut its price target on the stock to $7.70 from $12.
** CONSTELLATION BRANDS INC , $35.70, up 2.8 pct (1011 ET)
The world's largest branded-wine company reported a lower quarterly profit but revenue rose, helped by new products in its beer, wine and spirits businesses.
** ARBOR REALTY TRUST INC , $5.71, down 5.6 pct (1073 ET)
The real estate finance company announced a public offering of 3.5 million common shares.
** AVON PRODUCTS INC , $17.14, up 5.6 pct (1016 ET)
The cosmetics company said Executive Chairman Andrea Jung, who was replaced as chief executive in April, has decided to step down from the board at the end of 2012, ending what became a tumultuous tenure in recent years.
** ORACLE CORP , $31.74, up 0.5 (1019 ET)
The company has all the pieces it needs to compete in cloud computing but is always interested in looking at compelling M&A opportunities, Chief Financial Officer Safra Catz told investors.
** INFORMATICA CORP , $27.35, up 5.2 pct (1019 ET)
Nomura Equity Research upgraded the software maker to "buy" from "neutral," saying while it may take time for the company to turn its sales force issues around, the stock is trading at an attractive level after Thursday's 23 percent drop.
** SPRINT NEXTEL CORP , $5.24, up 3 pct (1021 ET)
** METROPCS COMMUNICATIONS INC , $12.82, up 1 pct (1022 ET)
** LEAP WIRELESS INTERNATIONAL INC , $6.20, up 5.8 pct (1023 ET)
Sprint Nextel is considering making a rival bid for MetroPCS, which agreed on Wednesday to a merger with Deutsche Telekom AG's T-Mobile USA, according to people familiar with the situation.
The stock of Leap Wireless was also up on the news. ** THE MEDICINES CO , $25.39, down 4.7 pct (1024 ET)
The company said it discontinued a mid-stage study of its experimental drug to reduce blood loss during surgery due to evidence of risk to patients.
(Complied by Aditi Shrivastava in Bangalore)
Keywords: MARKETS USA STOCKS/PULSE