MGIC, Celldex, Forest Labs. PMI: U.S. Equity Movers
(Corrects spelling of company name in Quiksilver item.)
Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parenthesis, and prices are as of 1:45 p.m. in New York.
Providers of temporary employees advanced after the U.S. Labor Department said companies added more jobs than forecast in August. Robert Half International Inc. (RHI US) rose 4 percent to $23.92. TrueBlue Inc. (TBI US) gained 16 percent to $13.49. SFN Group Inc. (SFN US) increased 8 percent to $6.50. Kelly Services Inc. (KELYA US) climbed 4.8 percent to $11.98.
Monster Worldwide Inc. (MWW US), operator of a job-search Web site, rose 7.7 percent to $12.41. Makers of clothing for office workers also rallied. AnnTaylor Stores Corp. (ANN US) gained 6.1 percent to $17.52. Men’s Wearhouse Inc. (MW US) climbed 4.5 percent to $21.19.
U.S. mortgage insurers advanced. MGIC Investment Corp. (MTG US), the biggest mortgage guarantor, rose 7.8 percent to $8.61. Radian Group Inc. (RDN US), the second-largest mortgage insurer, climbed 5.8 percent to $7.53. No. 3 PMI Group Inc. (PMI US) gained 7.4 percent to $3.55.
Andean Resources Ltd. (ANDPF US) surged 48 percent to $6.75, the most intraday since at least 1996. Goldcorp Inc., the second-biggest Canadian gold producer, agreed to buy the Perth- based miner for C$3.6 billion ($3.5 billion), exceeding a rival offer to gain control of an Argentinean mine. The cash bid values the company at C$6.50 a share, or 2.2 percent more than an offer from Eldorado Gold Corp. (EGO US), Canada’s fifth- largest producer by market value. Eldorado shares fell 3.2 percent to $18.84.
Buckle Inc. (BKE US) gained 4.6 percent to $27.37 after touching $27.66, the highest since Aug. 2. The clothing retailer was raised to “hold” from “underweight” at Keybanc Capital Markets. The 12-month share-price estimate is $23.
Campbell Soup Co. (CPB US) dropped 3.2 percent to $36.05 after falling as much as 3.5 percent, the most intraday since May 6. The world’s largest soup maker forecast 2011 profit excluding some items between $2.59 a share and $2.64 share. On average, the analysts surveyed by Bloomberg estimated earnings of $2.64.
Celldex Therapeutics Inc. (CLDX US) tumbled 26 percent to $3.55 after slumping as much as 39 percent, the most intraday in eight years. Pfizer Inc. (PFE US) is pulling out of an agreement with Celldex to fund the development of an experimental brain tumor vaccine. The vaccine is “no longer a strategic priority of Pfizer,” which will return the rights to the therapy, Celldex said.
Cooper Cos. (COO US) rose 7.3 percent to $44.27 after touching $45, the highest intraday price since October 2007. The maker of contact lenses and medical devices reported fiscal third-quarter profit excluding some items that exceeded the average analyst estimate in a Bloomberg survey and increased its forecasts for fourth-quarter adjusted profit.
Esterline Technologies Corp. (ESL US) jumped 8.4 percent to $54.03 after gaining as much as 11 percent, the most intraday in a year. The Bellevue, Washington-based supplier to the aerospace and defense Industry raised its 2010 profit estimate to $3.85 to $3.95 a share, higher than the $3.60 average projection of analysts surveyed by Bloomberg.
Finisar Corp. (FNSR US) gained 15 percent to $15.70 after rising as much as 17 percent, the most intraday in almost a year. The maker of fiber-optic transmission gear said second- quarter sales would be at least $215 million, higher than the $206.14 million estimate of analysts.
Other fiber-optics companies also gained. Oclaro Inc. (OCLR US) jumped 12 percent to $12.56. JDS Uniphase Corp. (JDSU US) advanced 3.8 percent to $10.29.
Forest Laboratories Inc. (FRX US) rose 1.4 percent to $29.59 after climbing to $29.66, the highest intraday level since April 7. A Food and Drug Administration advisory panel reviewing the company’s antibiotic ceftaroline in pneumonia and skin infections next week is likely to produce a positive outcome, leading to a gain of as much as 5 percent in the shares, according to Jefferies & Co.
H&R Block Inc. (HRB US) rose 7 percent to $13.45 after gaining as much as 9.7 percent, the most intraday since June 2009. The biggest U.S. tax preparer reported a narrower quarterly loss from continuing operations as Chief Executive Officer Alan Bennett looks for a strategy to win back customers.
Krispy Kreme Doughnuts Inc. (KKD US) rose 3.5 percent to $4.41 after touching $4.46, the highest since April 16. The doughnut chain boosted its 2011 forecast for operating income excluding some charges to $13 million to $17 million.
Quiksilver Inc. (ZQK US) declined 13 percent to $3.59 after falling as much as 14 percent, the most intraday since Jan 20. The maker of clothing for skateboarders and surfers said third- quarter sales fell short of analyst estimates.
SeaChange International Inc. (SEAC US) fell 17 percent to $7.13, the most intraday in a year. The maker of video-on-demand equipment and software reported second-quarter profit excluding some items that fell short of the average analyst estimate in a Bloomberg survey and lowered its full-year revenue forecast.
Sunoco Inc. (SUN US) rose 3.6 percent to $35.84 after climbing as much as 3.8 percent, the most intraday since July 30. The Philadelphia-based refinery said former General Motors Co. Chief Executive Officer Frederick A. “Fritz” Henderson has joined the company as a senior vice president to help prepare for the previously announced separation of SunCoke Energy from Sunoco.
Take-Two Interactive Software Inc. (TTWO US) jumped 10 percent to $9.74 after surging as much as 16 percent, the most intraday since Dec. 18. The publisher of the “Grand Theft Auto” video games reported an unexpected third-quarter profit and boosted its earnings outlook on sales of the newest release, “Red Dead Redemption.”
Ulta Salon Cosmetics & Fragrance Inc. (ULTA US) advanced 18 percent to $26.28, the most intraday since Sept. 4. The beauty products retailer forecast third-quarter adjust earnings of 20 cents to 22 cents a share, higher than the avwltrage analyst estimate of 17 cents.
U.S. Airways Group Inc. (LCC US) gained 3.1 percent to $9.95 after touching $10.17, the highest since Aug. 4. The company said its August passenger revenue per available seat mile increased an estimated 15 percent.
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