Analog Devices, Google, Talbots, SLM, Zale: U.S. Equity Movers

The following companies are having unusual price changes in U.S. trading. Stock symbols are in parentheses, and share prices are as of 11:40 a.m. in New York.

Financial stocks advanced as the Federal Reserve committed as much as $800 billion to unfreeze credit for homebuyers, consumers and small businesses.

JPMorgan Chase & Co. (JPM) rose 7.3 percent to $29.59. Citigroup Inc. (C) added 6.2 percent to $6.32. CIT Group Inc. (CIT) , the largest U.S. independent commercial lender, gained 8.6 percent to $2.59.

SLM Corp. (SLM) , the biggest U.S. student lender, surged 20 percent to $9.50 after the Fed said it would accept top-rated student loan securities as collateral.

Homebuilders also climbed. D.R. Horton Inc. (DHI) jumped 21 percent to $6.07. Pulte Homes Inc. (PHM) added 11 percent to $9.74. KB Home (KBH) rose 7.1 percent to $10.33. Centex Corp. (CTX US) increased 17 percent to $8.16.

Analog Devices Inc. (ADI) fell 6.3 percent to $17.03 and earlier slipped 7.2 percent for the biggest intraday drop since Oct. 24. The maker of semiconductors forecast profit and sales for the first quarter that missed analysts’ estimates as the financial crisis crimps demand.

BHP Billiton Ltd. (BHP) American depositary receipts (BHP US) added 13 percent to $37.83. The world’s largest mining company abandoned its $66 billion bid for Rio Tinto Group amid a slump in commodities prices. Rio Tinto Group ADRs (RTP US) tumbled 34 percent to $96.79.

CB Richard Ellis Group Inc. (CBG) had the second-biggest drop in the Standard & Poor’s 500 Index, losing 14 percent to $4.37. The world’s largest commercial real estate broker said office rents in London’s West End, midtown Manhattan and Tokyo fell in the third quarter for the first time in almost seven years as the global financial crisis cut demand.

Charming Shoppes Inc. (CHRS US) rallied 35 percent to $1.62 and advanced earlier to $2.30, the highest price since Oct. 15. The owner of the Fashion Bug clothing-chain reported a narrower-than-forecast loss for the third quarter and said it would close an additional 100 stores and discontinue its Lane Bryant women’s catalog.

Cisco Systems Inc. (CSCO) fell 3.7 percent to $15.80. UBS AG analysts said the company is planning a four-day shutdown to cut costs as it faces “soft” demand.

Citi Trends Inc. (CTRN) rallied 23 percent to $10.61 and earlier jumped 27 percent for the biggest intraday gain since May 27. The clothing retailer reported a loss of 5 cents a share for the third quarter. That’s narrower than the average 11-cent loss estimated by analysts, according to a Bloomberg survey.

Dollar Tree Inc. (DLTR) gained 5.8 percent to $40.50 and earlier rose to $41.35, the highest price since Sept. 9. The biggest U.S. retailer of items costing a $1 or less reported third-quarter profit of 47 cents a share, beating the average analyst estimate by 3 cents, according to Bloomberg data. Dollar Tree also raised its fiscal 2009 forecast.

Donaldson Co. (DCI) rose 9.7 percent to $30.45 and climbed 16 percent earlier for the biggest intraday increase since September 2006. The maker of Dura-Life and Ultra-Web air filters said it earned 60 cents a share in the fiscal first quarter. That beat the average analyst estimate by 11 percent, according to Bloomberg data.

General Growth Properties Inc. (GGP) rose the most in the Russell 1000 Index, jumping 87 percent to $1.87. Pershing Square Capital Management LP, the hedge fund run by William Ackman, bought a 7.5 percent stake in the real estate investment trust that said this month it might file for bankruptcy.

Google Inc. (GOOG) rose 6.8 percent to $274.91 and climbed 9.4 percent earlier for the biggest intraday gain since Oct. 28. The share drop in the owner of the most popular Internet search engine was “overdone,” Barclays Plc analyst Doug Anmuth wrote in a note. There are “early signs” from search-marketing firms that spending has risen, he said.

Lennar Corp. (LEN) rallied 47 percent to $6.74 for the biggest gain in the Standard & Poor’s 500 Index. The second-largest U.S. homebuilder was raised to “buy” from “neutral” at UBS AG on valuation. Analyst David Goldberg cited management’s efforts to lower the company’s risk.

Life Time Fitness Inc. (LTM) rose 25 percent to $11.14. Green Equity Investors V LP reported a 9.2 percent stake in the fitness-club operator, according to a Securities and Exchange Commission filing.

SkillSoft Plc (SKIL US) fell 18 percent to $5.66 and earlier slipped to $5.57, the lowest price since December 2006. The maker of employee-training software forecast fourth-quarter sales of $80.5 million to $83.5 million, less than the average analyst estimate of $87.5 million, according to Bloomberg data.

Sterling Financial Corp. (STSA US) rose 15 percent to $4.88 and jumped 46 percent earlier for the biggest intraday gain since July 23. The bank with branches in Washington and Oregon said it won approval to sell $303 million of securities to the U.S. Treasury to boost capital.

Talbots Inc. (TLB US) rallied 43 percent to $3.04 and soared 73 percent earlier for the biggest intraday gain since its November 1993 initial public offering. The U.S. clothing retailer geared to women 35 and older said two Japanese banks allowed it to tap $125 million in credit.

UAL Corp. (UAUA US) rose 17 percent to $10.31 and jumped 22 percent earlier for the biggest intraday gain since Oct. 17. The company’s United Airlines said its credit-card processor temporarily waived a penalty for not maintaining a minimum cash balance, in exchange for an interest in some aircraft.

Zale Corp. (ZLC US) fell 41 percent to $5.37 and tumbled 42 percent earlier for the biggest intraday decline since at least August 1993. The biggest U.S. jewelry chain by stores reported a wider loss from continuing operations in the first quarter and rescinded its forecast for the year ending July 31.

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

To contact the editor responsible for this story: Chris Nagi at chrisnagi@bloomberg.net.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.