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Apple, Cash America, JPMorgan, Palm, Yingli: U.S. Equity Movers

By Lu Wang

May 26 (Bloomberg) -- Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as 4 p.m. in New York.

Retailers advanced after the Conference Board’s consumer confidence index jumped the most in six years, topping economists’ estimates and reflecting the perception that the job market will improve.

RadioShack Corp. (RSH US), the second-largest U.S. electronics chain, gained 6.1 percent to $13.85. Kohl’s Corp. (KSS US), the fourth-largest U.S. department-store company, climbed 7 percent to $43.80.

Apple Inc. (AAPL US) added 6.8 percent, the most since Nov. 24, to $130.78. The maker of the iPhone was raised to “overweight” at Morgan Stanley, which said the mobile device will help the company beat profit estimates for the next two years.

Bucyrus International Inc. (BUCY US) climbed 8.9 percent to $25.96, the highest price since May 8. The maker of mining equipment was raised to “buy” from “hold” by analyst Steve Barger at KeyBanc Capital Markets.

Cash America International Inc. (CSH US) gained 9.7 percent to $22.59 for the biggest gain since April 9. The world’s largest pawn shop operator was boosted to “buy” from “hold” by Jefferies Group Inc.

Chimera Investment Corp. (CIM US) slumped 5.3 percent to $3.42, the lowest price since April 22. The mortgage-debt investor run by Annaly Capital Management Inc. filed for permission to sell 140 million shares. Additional stock may dilute the value of existing equity.

Cytokinetics Inc. (CYTK US) jumped 25 percent, the most since Oct. 13, to $2.61. Amgen Inc. (AMGN US), the world’s largest biotechnology company, paid $50 million for rights to the company’s experimental heart-failure drug.

First Solar Inc. (FSLR US) fell 6.4 percent to $179.51 for the biggest drop since March 20. The world’s largest manufacturer of thin-film solar power modules was downgraded to “underperform” from “market perform” by FBR Capital Markets, which cited falling prices for polysilicon.

Goodyear Tire & Rubber Co. (GT US) climbed 7.3 percent to $12.28, the steepest gain since May 8. The largest U.S. tiremaker said it will end consumer tire production at a plant in Amiens, France, cutting about 820 to 1,200 jobs, as part of its strategy to reduce high-cost manufacturing capacity globally.

JPMorgan Chase & Co. (JPM US) had the biggest gain in the Dow Jones Industrial Average, climbing 6.2 percent to $36.54. The second-biggest U.S. bank stands to reap a $29 billion windfall thanks to an accounting rule that lets it transform bad loans it purchased from Washington Mutual Inc. into income.

Map Pharmaceuticals Inc. (MAPP US) soared 186 percent to $9 for the biggest gain in Russell 2000 Index. The company reported that its migraine drug met goals in the last stage of human tests usually required for regulatory approval.

Palm Inc. (PALM US) rose 10 percent, the most since March 10, to $11.17. The company’s Web-equipped touch-screen phone Pre was well accepted by users, RBC Capital Markets said in a note, citing a survey by Changewave.

Qwest Communications International Inc. (Q US) climbed 8 percent to $4.33 for the biggest gain since May 5. The local phone-service provider in 14 U.S. states was raised to “overweight” at JPMorgan Chase & Co., which cited “strong” revenue from business customers and an “attractive” valuation.

United Therapeutics Corp. (UTHR US) rallied 12 percent to $74.43, its biggest advance since November 2007. The pharmaceutical company said the U.S. Food and Drug Administration approved Adcirca as a treatment for pulmonary arterial hypertension.

Yingli Green Energy Holding Co. (YGE US) jumped 19 percent to $11.14, the highest price since Oct. 1. The Chinese maker of solar-power modules was lifted to “buy” at Lazard Capital Markets.

Zions Bancorporation (ZION US) climbed the most in the Standard & Poor’s 500 Index, adding 14 percent to $14.49. The Salt Lake City-based lender was raised to “overweight” from “equal-weight” at Morgan Stanley, which said the company has solid growth opportunities, making it an “attractive” investment for long-term shareholders.

To contact the reporter on this story: Lu Wang in New York at lwang8@bloomberg.net

Last Updated: May 26, 2009 16:35 EDT

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