By Lu Wang
July 23 (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.
3M Co. (MMM US) had the biggest gain in the Dow Jones Industrial Average, adding 7.4 percent to $69.43. The maker of Post-it Notes and Scotch Tape reported second-quarter profit excluding some items of $1.20 a share, beating the average analyst estimate by 28 percent. The company also raised its 2009 earnings forecast.
Affymetrix Inc. (AFFX US) climbed 33 percent to $7.80 for the biggest gain since its initial public offering in 1996. The maker of instruments to analyze genetic information was boosted to “overweight” from “neutral” by analyst William Quirk at Piper Jaffray after reporting a narrower second-quarter loss than analysts estimated.
AnnTaylor Stores Corp. (ANN US) climbed 12 percent to $9.60, the highest price since Nov. 5. The retailer of women’s attire was raised to “buy” from “neutral” at Goldman Sachs Group Inc.
AT&T Inc. (T US) added 2.6 percent to $25.48, the highest price since May 12. The largest U.S. phone company posted profit that beat analysts’ estimates after signing up millions of customers for Apple Inc.’s iPhone and other Web-equipped devices.
Celera Corp. (CRA US) fell 25 percent, the most since Feb. 18, to $5.83. The medical-testing company founded by genetics pioneer J. Craig Venter withdrew its 2009 forecast after saying it expects to report second-quarter sales declined from a year earlier.
Celgene Corp. (CELG US) rose 19 percent, the most since March 2001, to $55.97. The drugmaker reported second-quarter earnings, excluding some items, that beat analysts’ estimates by 1.8 percent.
Cell Therapeutics Inc. (CTIC US) dropped 14 percent to $1.41, the steepest decline since June 2. The biotech company said it sold $38.1 million of stock and warrants and plans to use the money to pay debt.
CIT Group Inc. (CIT US) had the steepest decline in the Standard & Poor’s 500 Index, losing 15 percent to 74 cents. Advisers to bondholders that rescued CIT with a $3 billion loan said creditors may push the lender into Chapter 11 bankruptcy after a debt swap next month, according to a person familiar with the matter.
EBay Inc. (EBAY US) surged 11 percent to $21.52, the highest price since Sept. 30. The owner of the most visited U.S. e-commerce Web site reported second-quarter profit and sales that beat analysts’ estimates, a sign that Chief Executive Officer John Donahoe’s turnaround efforts are working.
EMC Corp. (EMC US) added 4.1 percent to $15, the highest intraday price since August. The world’s biggest maker of storage computers reported second-quarter sales and profit that beat analysts’ estimates as demand for its machines started to pick up.
Fair Isaac Corp. (FIC US) rose 14 percent to $18.08 for the biggest gain since March 10. The maker of software that creates credit scores used by U.S. banks was upgraded to “neutral” from “underperform” by Wedbush Morgan Securities after third- quarter earnings exceeded analysts’ estimates.
Fifth Third Bancorp (FITB US) climbed 14 percent, the most since May 8, to $8.01. Ohio’s largest lender reported a second- quarter profit as it benefited from the sale of a stake in its processing business.
Flir Systems Inc. (FLIR US) sank 10 percent, the most since Oct. 15, to $21.21. The maker of night-vision cameras used by U.S. combat forces said full-year revenue will be $100 million lower than it previously forecast.
Ford Motor Co. (F US) advanced 9.4 percent, the most since April 30, to $6.98. The only U.S. automaker to decline a federal bailout posted a second-quarter loss that beat analysts’ estimates as Chief Executive Officer Alan Mulally pared expenses and added domestic market share.
Goodrich Corp. (GR US) fell 7 percent to $49.32, the steepest drop since Dec. 1. The largest maker of aircraft landing gear, said second-quarter profit dropped 5.1 percent after airlines pared flights and routes, limiting demand for spare parts.
Hershey Co. (HSY US) rose 7.3 percent, the most since Oct. 28, to $41.80. The largest U.S. chocolate maker said it expects its increase in adjusted earnings per share for the full year to be slightly above it long-term objective of 6 to 8 percent.
HNI Corp. (HNI US) jumped 18 percent to $23.84, the highest price since Oct. 2. The office-furniture maker posted profit excluding some items of 3 cents a share in the second quarter. Analysts, on average, estimated the company had a loss of 8 cents, according to a Bloomberg survey.
International Game Technology (IGT US) gained 13 percent to $19.76, the highest value wince Sept. 11. The world’s biggest maker of slot machines reported third-quarter profit excluding some items of 23 cents a share, topping the average analyst estimate by 27 percent, as some casinos delayed buying equipment in the gambling slump and bettors wagered less.
Intuitive Surgical Inc. (ISRG US) jumped the most in the S&P 500, rallying 27 percent to $215.37. The maker of robotic systems for surgeries reported second-quarter profit of $1.62 a share, topping the average analyst estimate by 26 percent.
Life Time Fitness Inc. (LTM US) climbed 17 percent, the most since Nov. 25, to $27.64. The operator of fitness and spa centers boosted its full-year forecast, saying it expects to earn at least $1.65 a share.
McDonald’s Corp. (MCD US) dropped the most in the Dow average, sliding 4.6 percent to $56.09. The world’s largest restaurant company said second-quarter earnings fell 8.1 percent as currency conversion blunted sales of Big Macs and fries outside the U.S.
Medarex Inc. (MEDX US) rose the most in Russell 2000 Index, surging 89 percent to $15.89. Bristol-Myers Squibb Co. (BMY US) agreed to buy Medarex for $16 a share, or $2.4 billion, to double its pipeline of experimental biological drugs, including one nearing U.S. approval for skin cancer.
Moody’s Corp. (MCO US) fell 3.8 percent to $25.52, the lowest price since June 23. Warren Buffett’s Berkshire Hathaway Inc. reduced its stake in the credit rating firm by 17 percent after Moody’s reported seven straight quarterly profit declines.
NCR Corp. (NCR US) climbed 9.2 percent to $13, the highest price since Jan. 28. The world’s largest maker of automated teller machines posted second-quarter profit excluding some items of 13 cents a share, exceeding the average analyst estimate by 83 percent.
Pacific Sunwear of California Inc. (PSUN US) dropped 10 percent to $3.05, the steepest drop since June 8. The athletic apparel retailer said it expects to report a loss of at least 22 cents a share in the second quarter. That’s wider than the 13- cent loss estimated by analysts in a Bloomberg survey.
Philip Morris International Inc. (PM US) added 4.9 percent to $46.02, the highest price since Oct. 6. The world’s largest publicly traded tobacco company reported a smaller drop in second-quarter profit than analysts anticipated, helped by cigarette price increases.
Pool Corp. (POOL US) posted the biggest gain since its initial public offering in October 1995, soaring 27 percent to $23.45. The distributor of swimming pool supplies reported second quarter earnings of 99 cents a share. That beat the average estimate of analysts compiled by Bloomberg by 11 percent.
Qualcomm Inc. (QCOM US) retreated 2.2 percent to $47.40, the biggest decline since July 7. The world’s biggest maker of mobile-phone chips forecast fourth-quarter sales that fell short of some analysts’ estimates, raising concerns that handset demand is still slowing.
Ryder System Inc. (R US) rose 13 percent to $31.19, the biggest gain since at least 1980. The largest U.S. truck-leasing company reported earnings excluding some items of 43 cents a share in the second quarter, 13 percent higher than the average analyst estimate, according to Bloomberg data.
Safeway Inc. (SWY US) dropped 8 percent, the most since Feb. 26, to $18.35. The third-largest U.S. grocery chain cut its full-year earnings forecast, predicting “soft” sales for the remainder of 2009.
SanDisk Corp. (SNDK US) fell 11 percent, the most since March 16, to $16.92. The biggest maker of flash-memory cards forecast sales for the current quarter that trailed some analysts’ estimates.
Skechers USA Inc. (SKX US) rallied 18 percent, the most since April 30, to $13.95. The shoemaker said it expects profit in the second half after posting a narrower second-quarter loss than analysts projected.
Starwood Hotels & Resorts Worldwide Inc. (HOT US) advanced 7.3 percent to $22.83, the biggest gain since May 26. The third- largest U.S. lodging company reported second-quarter profit excluding some items of 22 cents a share, beating the average analyst estimate by 31 percent.
Thermo Fisher Scientific Inc. (TMO US) gained 5.1 percent to $43.93, the highest price since Oct. 20. The world’s largest maker of laboratory instruments reported second-quarter earnings per share excluding items of 74 cents, beating the consensus estimate of 67 cents.
TrueBlue Inc. (TBI US) rallied 40 percent, the most since September 1998, to $12.65. The provider of temporary manual labor was raised to “outperform” from “market perform” by analyst Jeffrey Silber at BMO Capital Markets after posting an unexpected profit in the second quarter.
Tupperware Brands Corp. (TUP US) gained 14 percent, the most since April 22, to $35. The maker of plastic storage containers forecast full-year profit excluding some items of at least $2.59 a share, higher than the average estimate of $2.31 from analysts in a Bloomberg survey.
Valassis Communications Inc. (VCI US) surged 23 percent, the most since April 30, to $8.63. The distributor of advertisements through newspaper inserts and mailings said it was awarded $300 million for compensatory damages in its lawsuit against News Corp. unit News America Marketing.
VMware Inc. (VMW US) rose 4.9 percent to $32.77, the highest price since June 4. The biggest maker of programs that let computers run multiple operating systems posted second- quarter profit that beat analysts’ estimates on services and maintenance revenue.
Xerox Corp. (XRX US) advanced 10 percent to $7.73, the highest price since Jan. 21. The largest maker of high-speed color printers increased its forecast for cash flow this year.
To contact the reporter on this story: Lu Wang in New York at lwang8@bloomberg.net
Last Updated: July 23, 2009 17:04 EDT
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