FCC Votes 3-2 for Proposal to End Ban on In-Flight Phone Calls
Amerigroup, Internap, Lindsay: U.S. Small-Cap Equity Movers
The Russell 2000 Index (RTY) had the biggest drop in almost two weeks, losing 2.6 percent to 664.13. The Standard & Poor's 500 Index, whose members have a median market value 22 times larger than the Russell 2000, fell 2.4 percent. The measures have declined 13 percent and 12 percent, respectively, this year.
3Com Corp. (COMS US) fell 22 percent to $2.22, the lowest since June 1994. The maker of network equipment said it hasn't yet come to an agreement on reviving a $2.2 billion takeover by Bain Capital Partners LLC.
Amerigroup Corp. (AGP) fell the most since September 2005, declining 17 percent to $26.59. The provider of managed health care for low-income Americans reduced its profit forecast for 2008, saying earnings will probably be as much as $2.61 a share. The company earlier predicted as much as $2.73.
Capital Corp of the West (CCOW US) slumped the most since April 1994, falling 65 percent to $3.76. The owner of County Bank, in California's Central Valley, delayed filing its annual report because of a ``rapid decline'' in real estate values in the area it serves.
Centene Corp. (CNC) fell 22 percent, the most since July 2006, to $13.86. The provider of managed care said it may not meet its earnings forecast for the quarter because of costs related to the worst flu season in 10 years.
Charming Shoppes Inc. (CHRS US) fell 12 percent to $4.65, the lowest since Jan. 16. The owner of the Lane Bryant and Fashion Bug clothing chains forecast first-quarter sales of $720 million to $730 million. Soleil Securities analyst Jeffery Stein estimated sales of $780.6 million.
Discover Financial Services (DFS) fell 15 percent to $15.20, its steepest decline to date. The credit-card company that's lost more than a third of its market value since being spun off by Morgan Stanley in June said profit fell 65 percent on charges tied to selling a U.K. unit.
Internap Network Services Corp. (INAP) fell the most since March 2001, sliding 33 percent to $4.09. The provider of Internet management and distribution services fell after it said it would delay filing its yearend report and a Merriman Curhan Ford & Co. analyst cut his rating of the stock.
Lindsay Corp. (LNN) gained 18 percent to $90, the highest since October 1988. The maker of GrowSmart irrigation equipment said second-quarter earnings more than tripled on demand from farmers overseas and acquisitions.
SI International Inc. (SINT US) had its biggest decline since November 2002, dropping 20 percent to $19.54. The provider of computer services to the federal government cut its first-quarter earnings forecast to between 24 and 27 cents because of ``unexpected'' funding delays. The average analyst estimate, according to a survey by Bloomberg, was 33 cents a share.
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