AK Steel, Coca-Cola, Human Genome, Omnicom, Snap-On: U.S. Equity Movers
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.
AK Steel Holding Corp. (AKS US) dropped the most in the Standard & Poor’s 500 Index, losing 7.1 percent to $19.35. The third-largest U.S. steelmaker by sales said there is “substantial uncertainty” in global iron-ore pricing in 2010 that may negatively affect earnings.
Amphenol Corp. (APH US) rose 7.8 percent to $47.44, the biggest gain since April 2009. The maker of electronic and fiber optic connectors and cable reported first-quarter profit excluding some items of 55 cents a share, 8.5 percent higher than the average analyst estimate.
Array BioPharma Inc. (ARRY US) jumped 33 percent to $4.02, the biggest advance since its initial public offering in 2000. The Boulder, Colorado-based drug research company said it agreed with Novartis AG (NOVN VX) to develop an anti-cancer drug being tested in an early-stage human trial and other compounds.
Citigroup Inc. (C US) rose 1.8 percent to $4.97, the highest price since October. UBS AG raised its share-price forecast for the bank that required a $45 billion bailout in 2008 to $5 from $3.75.
CKE Restaurants Inc. (CKR US) rose 6.4 percent to $12.76, the highest price since September 2008. The operator of the Carl’s Jr. and Hardee’s chains said it would terminate a merger agreement with Thomas H. Lee Partners LP after determining that a rival offer of $12.55 a share in cash was superior.
Coca-Cola Co. (KO US) fell 1.5 percent to $54.47, the second biggest decline in the Dow Jones Industrial Average. First-quarter sales at the world’s largest soft-drink maker fell short of the average analyst estimate by 2.5 percent.
FalconStor Software Inc. (FALC US) declined 4.3 percent to $3.12, the lowest price since Feb. 8. The Melville, New York- based maker of data-protection software said in a preliminary statement that, excluding some items, it had a loss of at least 8 cents a share in the first quarter. That’s wider than the 1- cent loss estimated by analysts in a Bloomberg survey.
Halliburton Co. (HAL US) rose 5.5 percent, the most since May 4, to $33.31. The world’s second-largest oilfield contractor had its share-price target raised to $44 from $42 at FBR Capital Markets Corp.
Harley-Davidson Inc. (HOG US) rose 7.3 percent to $35.17, the highest price since October 2008. The biggest U.S. motorcycle maker reported profit of 29 cents a share, 19 percent higher than the average of eight estimates in a Bloomberg survey.
Human Genome Sciences Inc. (HGSI US) declined 6 percent, the most since Feb. 4, to $29.61. A study found the company’s experimental drug Benlysta no longer gave lupus patients significant relief 18 months after they started taking it.
Illinois Tool Works Inc. (ITW US) climbed 3.9 percent, the most since Nov. 16, to $50.71. The maker of Hobart food mixers and Duo-Fast nail guns posted quarterly profit that beat the average analyst estimate and forecast second-quarter earnings higher than the average projection.
International Business Machines Corp. (IBM US) fell the most in the Dow Jones Average, sliding 1.9 percent to $129.69. The world’s largest computer-services company said service contract signings fell last quarter, suggesting corporate customers are still delaying some technology spending following the economic slowdown.
Interpublic Group of Cos. (IPG US) advanced 7.5 percent, the most since March 1, to $9.74. The advertising company was raised to “buy” from “hold” at Argus Research, which said sales “appear poised to improve.”
Marshall & Ilsley Corp. (MI US) rallied 11 percent to $9.31, the biggest gain in the Standard & Poor’s 500 index. Wisconsin’s largest bank reported a narrower first-quarter loss of 27 cents a share as fewer borrowers fell behind on payments and lending margins widened. Analysts expected a loss of 40 cents, according to a Bloomberg survey.
MGIC Investment Corp. (MTG US) fell 12 percent, the most since Oct. 16, to $11.06. The biggest U.S. mortgage insurer posted an 11th straight quarterly loss and said it will sell $1 billion in stock and notes.
Radian Group Inc. (RDN US) slid 4 percent to $16.90. PMI Group Inc. (PMI US) dropped 7.1 percent to $6.24.
MGM Mirage (MGM US) rose 6.9 percent, the first gain in five days to $15. The biggest casino owner on the Las Vegas Strip was added to the “conviction buy” list at Goldman Sachs Group Inc.
Wynn Resorts Ltd. (WYNN US) climbed 4.4 percent to $86.57.
Monster Worldwide Inc. (MWW US) jumped 6.4 percent, the most since Dec. 4, to $16.50. The online-recruiting company was raised to “outperform” from “neutral” at Credit Suisse Group AG, which said improving labor conditions “should lead to strong growth” in 2011 and 2012.
Northern Trust Corp. (NTRS US) fell 5.1 percent, the most since Oct. 21, to $55.37. The third-largest independent custody bank reported first-quarter profit excluding some items of 64 cents a share, 11 percent less than the average analyst estimate in a Bloomberg survey.
Omnicom Group Inc. (OMC US) rose 6 percent, the most since June 1, to $43.58. The owner of advertising agencies posted quarterly revenue that beat the average analyst estimate and said the company’s balance sheet is in strong shape.
Paccar Inc. (PCAR US) declined 2.9 percent, the most since Feb. 4, to $45.31. The maker of Kenworth, Peterbilt and DAF trucks posted first-quarter earnings that beat the average analyst estimate.
Snap-On Inc. (SNA US) rallied 8.5 percent, the most since April 2009, to $48.59. The Kenosha, Wisconsin-based toolmaker posted quarterly results for the period ended April 3 of 63 cents a share. Analysts expected 50 cents on average, according to a Bloomberg survey.
State Street Corp. (STT US) declined 4.2 percent, the most since Jan. 22, to $45.28. The second-largest independent custody bank said first-quarter net interest revenue fell 18 percent.
To contact the reporter on this story: Whitney Kisling in New York at email@example.com.
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