Today in the markets (US)

Friday movers: BlackBerry up as it seeks SEC probe
MARKETWATCH — LAST UPDATE: 13:22 12/04/2013

SAN FRANCISCO (MarketWatch) -- BlackBerry shares recovered on Friday as the Canadian company sought a regulatory review into a report that claimed the return rate for its new Z10 model outpaces sales at some retail locations.

Top Tickers TrendingBBRY: BlackBerry rose 2.3%. The wireless devices company is asking the U.S. Securities and Exchange Commission as well as the Ontario Securities Commission to review 'a false and misleading report' claiming high rates of returns for its Z10.

The statement is in response to a Detwiler Fenton report on Thursday that returns are outpacing sales in some cases.

BlackBerry late Thursday characterized the unflattering report as false in a statement emailed to MarketWatch.'Our data shows that return rates for BlackBerry Z10 devices both in the U.S. and on a global basis are in line with or better than our expectations and are consistent with return rates for other premium smartphones in the market today,' said Rebecca Freiburger, BlackBerry's corporate communications manager.
LNKD: LinkedIn Corp. (LNKD.NaE) shares fell 1.2% after it agreed to buy Pulse, a news reader and mobile-content company, on Thursday in a deal valued at $90 million.

JPM: Bank shares were in focus as J.P. Morgan Chase & Co. and Wells Fargo & Co. (WFC.NaE) kicked off bank earnings. J.P. Morgan shares edged up 0.3% after reporting a 33% rise in first-quarter net income, beating estimates. Wells Fargo (WFC.NaE) shares fell 1.8% as it also beat Wall Street estimates but it reported a drop in income from mortgage banking.

NFLX: Netflix Inc. (NFLX.NaE) shares rose 0.5%. Goldman Sachs on Friday maintained its neutral rating on Netflix (NFLX.NaE) and raised its price target to $184 from $125, according to Barron's.

GainersBiogen Idec Inc. (BIIB.NaE) shares rose 3.3%, one of the best gainers in the S&P 500 .

Lennar Corp. (LEN.NaE) shares added 2.8%. The home builder earlier this week secured $50 million via senior notes to use as working capital.

DeclinersHarris Corp. (HRS.NaE) shares declined 5.3%. The maker of wireless network transmission equipment said late Thursday that its quarterly earnings are likely to be weaker than expected on delays stemming from U.S. budget uncertainties. Harris now expects to report third-quarter adjusted earning of $1.12 a share, compared to $1.26 a share forecast by Wall Street.
Hudson City Bancorp Inc. (HCBK.NaE) shares slid 5.1%. Hudson City, which is in the process of merging with M&T Bank Corp. (MTB.NaE) , said they need additional time to finalize the deal after the Federal Reserve has raised concerns about M&T's anti-money-laundering compliance program. 'M&T has already commenced a major initiative, including the hiring of an outside consulting firm, intended to fully address the Federal Reserve's concerns,' the banks said in a joint statement.

Shares of Infosys Ltd. (INFY.NaE) ADR plunged 20%. The Indian software company reported lower-than-expected revenue for the fiscal fourth quarter as the firm continues to struggle to meet its growth expectations. The Infosys (INFY.NaE) miss dragged down shares of competitor Cognizant Technology Solutions Corp. (CTSH.NaE), which fell 3.9%.