By Elizabeth Stanton
Oct. 27 (Bloomberg) -- Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 4 p.m. in New York.
Auto retailers fell after Sonic Automotive Inc. (SAH US) reported third-quarter profit excluding some items that fell short of the average analyst estimate in a Bloomberg survey and third-quarter revenue at Group 1 Automotive Inc. (GPI US) was below the average estimate.
Sonic fell 17 percent, the most since April 1, to $10.38. Group 1 dropped 12 percent, the most since Feb. 18, to $29.12. AutoNation Inc. (AN US), the largest U.S. auto retailer, fell 6.3 percent to $18.78. Penske Automotive Group Inc. (PAG US), the chain of more than 300 dealerships, slid 5.8 percent to $17.10.
Casino shares declined as Stifel Nicolaus & Co. said Wynn Resorts Ltd.’s (WYNN US) may have lost market shares in Macau during the third quarter and Boyd Gaming Corp. (BYD US) reported earnings that missed some analysts’ estimates.
Wynn sank 11 percent to $56.13 for the biggest retreat in the Standard & Poor’s 500 Index. Boyd Gaming dropped 18 percent to $8.78. Las Vegas Sands Corp. (LVS US) lost 11 percent to $14.31. MGM Mirage (MGM US) slipped 12 percent to $9.63.
AK Steel Holding Corp. (AKS US) fell 8.6 percent, the most since June 22, to $17.18. The fourth-largest U.S.-based steelmaker said it expects to earn no more than $35 per ton from continuing operations during the fourth quarter. UBS AG estimated $64 on that basis.
U.S. Steel Corp. (X US), the largest U.S.-based steelmaker, which today forecast another loss in the fourth quarter, slipped 7.8 percent to $37.41.
Baidu Inc. (BIDU US) slumped 11 percent, the most since Dec. 1, to $383.66. The operator of China’s most-used Internet search engine forecast revenue of $180 million at most in the fourth quarter. That trailed the average analyst estimate of $203 million, according to a Bloomberg survey.
Bemis Co. (BMS US) increased 4.9 percent, the most since July 15, to $27. The largest producer of flexible packaging in the Americas boosted its full-year forecast, projecting at least $1.81 a share.
BP Plc (BP US) added 4.2 percent to $57.82, the highest price since August 2008. Europe’s second-largest oil company posted third-quarter earnings that beat analyst estimates and raised its cost-cutting target for the year.
Cabot Oil & Gas Corp. (COG US) rose the most in the S&P 500, adding 9.8 percent to $42.05. The independent oil and gas company was upgraded to “overweight” from “neutral” at JPMorgan Chase & Co. after third-quarter profit topped some analysts’ estimates.
Carter’s Inc. (CRI US) had the steepest decline in Russell 2000 Index, slumping 24 percent to $21.66. The maker of baby clothes delayed reporting third-quarter earnings, saying it’s reviewing its accounting for margin support to its wholesale customers.
Celanese Corp. (CE US) gained 8.6 percent to $28.19, the highest price since September 2008. The world’s largest producer of acetyl chemicals reported third-quarter operating profit that fell less than analysts predicted as the company reduced costs and demand improved in Asia.
Convergys Corp. (CVG US) added 3.3 percent to $11.01, the biggest gain since Oct. 5. The provider of customer call-center services forecast profit excluding some items of more than 30 cents a share in the fourth quarter, beating the 27-cent average estimate from analysts in a Bloomberg survey.
Crane Co. (CR US) rose the most in the Russell 1000 Index, jumping 16 percent to $30.59. The maker of products from airplane brakes to vending machines predicted profit excluding some items of at least $2.05 a share this year, beating the average analyst estimate of $1.90 from a Bloomberg survey.
Dollar Thrifty Automotive Group Inc. (DTG US) fell 16, the most since Nov. 6, to $21.06. The rental-car company said that it will offer 5.75 million shares of common stock priced at $24.81 a share.
Insulet Corp. (PODD US) jumped 19 percent to $10.66 for the biggest advance in Russell 2000 Index. The maker of a device to give insulin to diabetic patients was upgraded to “outperform” from “market perform” at William Blair & Co. after boosting its 2009 sales forecast.
Life Technologies Corp. (LIFE US) rose 2 percent to $48, the biggest increase since Oct. 14. The provider of gene- analysis tools for medical research reported third-quarter earnings per share excluding some items 19 percent higher than the average of 10 analyst estimates in a Bloomberg survey, and increased its earnings-per-share forecast for 2009.
Limited Brands Inc. (LTD US) dropped 8.1 percent, the most since May 7, to $17.91. The owner of the Victoria’s Secret chain said it expects percentage declines in sales at store open at least one year to be “in the negative low-to-mid single digits” this month. The company had expected sales to be “roughly flat.”
Lorillard Inc. (LO US) rose 6 percent, the most since Nov. 13, to $78.64. UBS AG raised its price forecast for the shares to $100 from $80, saying the third-largest U.S. tobacco company is likely to receive a takeover bid within two years.
Lululemon Athletica Inc. (LULU US) gained 8.5 percent to $27.90, the highest price since July 2008. The clothing retailer boosted its forecast for the fiscal third quarter, projecting earnings to be at least 17 cents a share. The company had previously anticipated 13 cents at most.
Paccar Inc. (PCAR US) fell 4.1 percent to $37.63, the steepest drop since Oct. 1. The maker of Kenworth, Peterbilt and DAF trucks forecast declining European sales in 2010 and said margins declined in its leasing segment in the third quarter.
Patriot Coal Corp. (PCX US) climbed 14 percent to $12.78, the biggest gain since Sept. 14. The fourth-largest eastern U.S. coal producer said third- quarter profit fell 26 percent, less than analysts estimated, because of higher prices for the fuel.
Pool Corp. (POOL US) lost 11 percent, the most since Feb. 19, to $20.49. The distributor of swimming pool supplies reported adjusted earnings of 36 cents per share, less than the average estimate of 41 cents in a Bloomberg survey.
Scientific Games Corp. (SGMS US) fell the most in the Russell 1000 Index, slumping 22 percent to $13.85. The biggest U.S. maker of instant lottery tickets was reduced to “market perform” from “outperform” by William Blair & Co. Joseph R. Wright will retire as chief executive officer at the end of the year.
Textron Inc. (TXT US) rose 7.1 percent to $19.67 for the third-biggest gain in the S&P 500. The maker of Cessna airplanes and Bell helicopters reported third-quarter profit that exceeded analysts’ estimates as savings from job cuts helped compensate for reduced production.
VF Corp. (VFC US) fell 6.6 percent, the most since April 29, to $73.35. The world’s largest apparel maker reported third- quarter profit that dropped more than analysts expected because of falling sales.
Winn-Dixie Stores Inc. (WINN US) lost 9.8 percent, the most since March 5, to $12.03. The grocery store chain reduced its full-year forecast, saying it expects earnings before interest, taxes, depreciation and amortization to be $160 million at most.
WMS Industries Inc. (WMS US) fell 9.2 percent, the most since April 7, to $43.03. The maker of Monopoly and Wizard of Oz slot machines said first-quarter sales rose 9.2 percent to $165.3 million, missing the $167.9 million average of analysts’ estimates.
Zoran Corp. (ZRAN US) dropped 12 percent, the most since July 2008, to $8.90. The maker of software and chips for digital audio and video products said it may have a loss of as much as 7 cents a share in the fourth quarter. Analysts, on average, estimated the company would break even, according to a Bloomberg survey.
To contact the reporter on this story: Elizabeth Stanton in New York at estanton@bloomberg.net
Last Updated: October 27, 2009 16:51 EDT
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