Midday movers: DreamWorks, Netflix

Stocks are slightly lower despite better-than-expected February retail sales figures.

By MSN Money Partner Mar 13, 2013 1:47PM
logoWall Street sign copyright Corbis, SuperStockInformation provided by Theflyonthewall.com

Boeing (BA) shares were virtually unchanged in spite of the Federal Aviation Administration giving initial approval to the company's proposed package of fixes for batteries on its 787 Dreamliners and allowing the company to resume some test flights of the jets.

VMware (VMW) advanced after revising its revenue forecast for this year to account for its contribution of assets to a new company, Pivotal, which it will co-own with its parent EMC (EMC). VMware also said it expects revenue growth to accelerate after this year and shares advanced 8%, while EMC gained nearly 3%.

Shares of Silver Spring Networks (SSNI), which provides hardware and software for electrical "smart" grids, jumped about 28% from their initial offering price of $17 in their first day of trading.

Among the notable gainers was DreamWorks (DWA), which rose 8% after research firm Stifel Nicolaus raised its rating on the stock to "hold" from "sell," citing increased expectations for the upcoming movie "Croods." 

Also higher were shares of Netflix (NFLX), which gained almost 6% after the company announced that its U.S. members can integrate the service with their Facebook (FB) accounts starting today. 

Among the noteworthy losers was Spectrum Pharmaceuticals (SPPI), which plunged 35% after the company guided to FY13 revenue far below Street estimates and Credit Suisse lowered its price target on the stock to $7 from $15. Also lower were shares of Velti (VELT), which declined 26% and was downgraded at Raymond James, RBC Capital and Jefferies following its quarterly report. 
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