Massey Energy, Freeport-McMoRan, Hercules, SonicWall: 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.
Coal companies declined on concern demand from China will slow. Alpha Natural Resources Inc. (ANR US) fell 4 percent to $35.81. Walter Energy Inc. (WLT US) dropped 3.5 percent to $72.17. Massey Energy Co. (MEE US) fell 2.2 percent to $13.57. Peabody Energy Corp. (BTU US) slid 2 percent to $38.46. Consol Energy Inc. (CNX US) fell 2.2 percent to $37.93. Arch Coal Inc. (ACI US) slipped 1.9 percent to $22.35.
Retailers that reported rising or better-than-expected sales advanced. Pier 1 Imports Inc. (PIR US) rose 13 percent to $8.35. Ross Stores Inc. (ROST US) gained 3.6 percent to $56.19. Limited Brands Inc. (LTD US) increased 1.2 percent to $26.26. Aeropostale Inc. (ARO US) climbed 5.7 percent to $30.01.
Retailers whose sales or earnings missed analysts’ estimates declined. Nordstrom Inc. (JWN US) slipped 4.3 percent to $38.52. Coldwater Creek Inc. (CWTR US) dropped 15 percent to $5.02. Family Dollar Stores Inc. (FDO US) fell 3.6 percent to $38.66.
Abercrombie & Fitch Co. (ANF US) gained 6.6 percent to $37.58 for the biggest increase since May 10. The teen clothing retailer said international sales climbed 84 percent in May.
American Capital Ltd. (ACAS US) fell 7.9 percent, the most since May 7, to $4.81. The Bethesda, Maryland-based publicly traded private-equity investor and asset manager, finding itself short of the votes necessary to push through a prepackaged Chapter 11 reorganization, extended the expiration of the exchange offer from June 1 to June 8.
AutoNation Inc. (AN US) rose 4.1 percent to $21.32, the highest price since July 20. The largest U.S. new-car dealer said its vehicle sales increased by 22 percent in May.
Baldor Electric Co. (BEZ US) advanced 9.2 percent, the most since May 10, to $39.40. The Arkansas-based maker of electric motors raised its fiscal second-quarter sales forecast to as much as $445 million, compared with $425 million that analysts estimated on average in a Bloomberg survey.
Buckle Inc. (BKE US) fell 3.9 percent, the most since May 13, to $34.50. The casual-clothing retailer with 401 stores said May sales at stores open at least a year dropped 5.4 percent.
Cyberonics Inc. (CYBX US) rose 15 percent, the most since December 2008, to $21.50. The maker of a nerve-stimulating device to treat epilepsy raised its fiscal-year sales forecast more than some analysts had estimated.
Dell Inc. (DELL US) rose 4.9 percent, the most since April 14, to $13.76. Chief Executive Officer Michael Dell, who is more than three years into a turnaround of the personal computer maker, said he has considered taking the company private. Dell said at a conference in New York that he has “every intention” to keep running the company and that his turnaround plan isn’t complete yet.
Dynamex Inc. (DDMX US) fell 11 percent, the most since Feb. 23, to $14.35. The provider of same-day delivery services in the U.S. and Canada lowered its earnings forecast for the current fiscal year to as low as $1.05 per share. The average analyst estimate is $1.21 according to Bloomberg data.
EnerSys (ENS US) gained 8.2 percent, the most since Aug. 6, to $24.47. The Reading, Pennsylvania-based maker and distributor of industrial batteries was raised to “buy” from “accumulate” at Ardour Capital Partners.
Exelixis Inc. (EXEL US) increased 8.6 percent to $5.54 for the biggest gain since May 12. The South San Francisco-based biotechnology company said it plans to sell as much as $124 million of five-year senior secured notes to repay a loan from GlaxoSmithKline Plc and to fund development of its XL184 drug for thyroid cancer.
Exide Technologies (XIDE US) rose 27 percent, the biggest gain in the Russell 2000 index, to $5.41. The maker of batteries posted fourth-quarter sales of $714.7 million, beating the estimate of $695 million from Noble Financial Group.
Freeport-McMoRan Copper & Gold Inc. (FCX US) tumbled 4.1 percent to $66.17. The company and Codelco, the world’s two largest copper producers, said China’s plans to curb its economy threaten to reduce demand for the metal after prices slumped 15 percent in two months.
FuelCell Energy Inc. (FCEL US) climbed 23 percent, the most since November 2008, to $2.62. The maker of fuel-cell power plants will supply cells to Pacific Gas and Electric Company for installation at two universities in California. FuelCell says the value of these contracts is approximately $12.6 million.
Hercules Offshore Inc. (HERO US) rose 11 percent, the most since March 2, to $2.92. Houston-based Hercules rebounded on speculation that an 18 percent plunge on June 1 was overdone because a freeze on deep-water drilling permits in the Gulf of Mexico won’t affect the shallow-water driller.
Javelin Pharmaceuticals Inc. (JAV US) had the third biggest decline in the Russell 2000 Index, sliding 13 percent to $1.33. The developer of pain medications filed a lawsuit against Hospira Inc. (HSP US), saying the company is in breach of a merger agreement.
Parexel International Corp. (PRXL US) dropped 7.4 percent, the most since Oct. 28, to $21.80. The tester of experimental medicines for drugmakers forecast sales of up to $1.29 billion for fiscal 2011. That’s short of the average estimate of $1.35 billion from analysts in a Bloomberg survey.
Salesforce.com Inc. (CRM US) rose 7.6 percent to $95.20, the highest price since its June 2004 initial public offering. The largest seller of Internet-based customer-management software rallied after Piper Jaffray & Co. said software usage soared in May and will continue to climb.
SonicWall Inc. (SNWL US) jumped 25 percent to $11.28 for the second-biggest gain in Russell 2000 Index. Cisco Systems Inc.’s (CSCO US) competitor in Internet security equipment agreed to be taken over for $717 million, or $11.50 a share, by an investor group led by Thoma Bravo LLC.