By Lu Wang
Nov. 9 (Bloomberg) -- Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses and share prices are as of 4 p.m. in New York.
Abercrombie & Fitch Co. (ANF US) advanced 7.4 percent, the most since April 2, to $37.59. The U.S. retailer specializing in clothes for teens was upgraded to “buy” from “neutral” at Goldman Sachs Group Inc., which cited “significant longer-term growth drivers.”
Ariad Pharmaceuticals Inc. (ARIA US) jumped 12 percent, themost since July 20, to $2.43. The drugmaker was raised to “overweight” from “neutral” by JPMorgan Chase & Co., which said two of the company’s cancer-fighting drugs could “ignite investor interest and drive meaningful share price appreciation” in the next three to six months.
Brookdale Senior Living Inc. (BKD US) dropped the most in the Russell 1000 Index, declining 7.3 percent to $16.46. The operator of assisted living homes for seniors said funds managed by Fortress Investment Group LLC intend to sell 11 million of the company’s shares.
Chindex International Inc. (CHDX US) sank 12 percent, the most since June 15, to $14.25. The provider of health-care services in China posted earnings excluding some items of 3 cents a share in the second quarter, missing Maxim Group’s estimate by 63 percent, according to Bloomberg data.
DeVry Inc. (DV US) lost 3.5 percent to $53.46, the second- steepest decline in the S&P 500. The owner of technical schools and other for-profit college operators are attracting scrutiny for how the schools recruit new students and make use of education loans, Barron’s reported. Apollo Group Inc. (APOL US), the parent of the University of Phoenix, fell 0.2 percent to $55.88.
DISH Network Corp. (DISH US) added 5.2 percent to $20.14 the highest price since October 2008. The second-biggest U.S. satellite-television producer said it will pay a one-time dividend of $2 on outstanding Class A and Class B shares.
East West Bancorp (EWBC US) surged 55 percent to $13.41 for the biggest gain in Russell 2000 Index. The Pasadena, California-based bank purchased UCBH Holdings Inc.’s United Commercial Bank, a San Francisco-based lender that was seized by regulators. United Commercial has $11.2 billion in assets. East West was raised to “buy” from “hold” at Noble Financial Group.
General Electric Co. (GE US) added 3.4 percent to $15.85, the highest price since Oct. 16. The company agreed with Comcast Corp. (CMCSA US) to value its NBC Universal at about $30 billion as they discuss creating a joint venture to own the entertainment division, according to three people familiar with the matter.
Hercules Offshore Inc. (HERO US) advanced 14 percent to $5.77 for the biggest gain since Sept. 15. The operator of drilling rigs and liftboats was upgraded to “outperform” from “neutral” by Credit Suisse Group AG, which cited improving demand.
Las Vegas Sands Corp. (LVS US) added 9.4 percent to $16.79, the highest price since Oct. 22. The casino company controlled by billionaire Sheldon Adelson said it received commitments for $1.45 billion of bank financing to help restart a stalled Macau project.
Lexmark International Inc. (LXK US) lost 4.5 percent, the most since July 21, to $25.48. The Lexington, Kentucky-based maker of printers was added to the “conviction sell list” at Goldman Sachs Group Inc., which said the shares are overvalued and unsustainable “given its weak competitive position and deteriorating installed base.”
RadioShack Corp. (RSH US) had the second-biggest gain in the S&P 500, climbing 14 percent to $20.27. The Fort Worth, Texas-based electronics retailer said it plans to sell Apple Inc.’s (AAPL US) iPhone 3G and iPhone 3GS at some of its stores in the Dallas-Fort Worth and New York metropolitan areas beginning later this month.
Revlon Inc. (REV US) rallied 37 percent to $14.79, the highest price since September 2008. The cosmetics maker controlled by Ronald Perelman was raised to “outperform” from “market perform” at BMO Capital Markets.
Sprint-Nextel Corp. (S US) had the steepest gain in the S&P 500, surging 20 percent to $3.43. The third-largest U.S. wireless carrier plans to cut 2,000 to 2,500 jobs. Sprint, which is seeking to reduce labor costs by $350 million a year, also said it sees positive free cash flow during the fourth quarter. Earlier, the shares rose after people familiar with the matter said that Sprint plans to invest more to help Clearwire Corp. finish its network expansion on time.
Clearwire (CLWR US) rose 4.6 percent to $6.80.
Targacept Inc. (TRGT US) added 5.2 percent to $21.16, the highest price since Oct. 22. The drugmaker based in Winston- Salem, North Carolina, was recommended as a speculative stock by CNBC’s “Mad Money” host Jim Cramer, who predicted the company would benefit from a depression drug it is developing.
Tetra Technologies Inc. (TTI US) rose 18 percent, the most since March 23, to $11.36. The provider of chemicals and fluids for oil and gas drillers reported profit excluding some items of 34 cents a share in the third quarter, beating the average analyst estimate by 56 percent.
Windstream Corp. (WIN US) fell 2.1 percent, the most since Aug. 17, to $10.06. The phone company that provides service to rural areas of the U.S. reported sales that fell short of analysts’ estimates by 1.7 percent.
Wynn Resorts Ltd. (WYNN US) rose 6.4 percent to $63.54, the highest price since Oct. 20. The casino company founded by Stephen Wynn said its directors declared a special cash dividend of $4 per share and it will resume a regular payout next year.
Zhongpin Inc. (HOGS US) dropped 11 percent, the most since March 10, to $12.33. The Chinese food processor and distributor reduced its 2009 forecast, saying it expects to earn $1.40 a share at most. Analysts, on average, estimated profit of $1.51, according to a Bloomberg survey.
To contact the reporter on this story: Lu Wang in New York at lwang8@bloomberg.net
Last Updated: November 9, 2009 16:44 EST
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