AK Steel, Arkansas Best, DiamondRock, Johnson Controls: U.S. Equity Movers
Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 4 p.m. in New York.
AAR Corp. (AIR US) fell 17 percent, the most since September 2001, to $18.28. The aircraft parts and maintenance provider reduced its forecast, saying it expects earnings excluding some items of 32 cents a share at most in the fiscal fourth quarter. Analysts, on average, estimated 41 cents, according to a Bloomberg survey.
AK Steel Holding Corp. (AKS US) had the biggest gain in the Standard & Poor’s 500 Index, advancing 11 percent to $15.06. The third-largest U.S. steelmaker by 2009 sales was raised to “neutral” from “underperform” at Bank of America Corp.
Arkansas Best Corp. (ABFS US) slid 14 percent, the most since July 2008, to $22.26. The trucking company said its union employees rejected changes to their contracts. The stock was cut to “underperform” from “neutral” by Bank of America Corp.
AutoZone Inc. (AZO US) rose 5.6 percent to $194.57, a record. The auto parts retailer with more than 4,300 stores reported fiscal third-quarter profit of $4.12 a share, topping the average analyst estimate in a Bloomberg survey by 15 percent.
DiamondRock Hospitality Co. (DRH US) declined 8.1 percent, the most since June 22, to $8.49. The real-estate investment trust that owns hotels mostly operated by Marriott International Inc. agreed to buy the 821-room Hilton Minneapolis for about $155.5 million.
Genzyme Corp. (GENZ US) rose 5.5 percent, the most in a year, to $51.16. The largest maker of genetic disease medicines won U.S. Food and Drug Administration approval for a large-batch version of its Lumizyme drug for Pompe disease, a rare genetic disorder.
Neurocrine Biosciences Inc. (NBIX US) surged 25 percent to $3.40 for the biggest rally in Russell 2000 Index. The drug company said a clinical study on its experimental drug elagolix showed positive results in treating patients with endometriosis.
USEC Inc. (USU US) advanced 24 percent, the most since April 2008, to $5.26. Toshiba Corp. (6502 JP), Japan’s biggest supplier of nuclear reactors, will invest $100 million for a 15 percent stake in the U.S. atomic fuel supplier.
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