Bravo Brio, Flir Systems, HNI, Vera Bradley: 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.
Amazon.com Inc. (AMZN US) advanced 4 percent to $164.97, the highest intraday price since it went public in May 1997. The Web retailer was raised to “buy” from “neutral” at Bank of America Corp.
Baxter International Inc. (BAX US) rose 3.4 percent to $51.07, the highest price since April 22. The maker of intravenous drugs reported third-quarter profit excluding some items of $1.01 a share, beating the average analyst estimate of 97 cents in a Bloomberg survey.
Bravo Brio Restaurant Group Inc. (BBRG US) rallied 14 percent to $15.95 on the first day of trading. The Italian restaurant chain raised $140 million selling shares at the low end of the range for its initial public offering.
Vera Bradley Inc. (VRA US), which also went public today, surged 55 percent to $24.85. The Fort Wayne, Indiana-based women’s accessory retailer sold 11 million shares at $16 each, the top end of its range.
Caterpillar Inc. (CAT US) had the third-biggest decline in the Dow Jones Industrial Average, falling 1.2 percent to $78.89. The world’s largest maker of construction and mining equipment said it expects cost “headwinds” in 2011 as expenses rise for pensions, retiree health benefits, research and development and taxes.
Children’s Place Retail Stores Inc. (PLCE US) dropped 13 percent, the most since November 2008, to $44.90. The infant and kids’ clothing retailer lowered its 2011 third-quarter forecast to a range of $1.10 to $1.13 a share, lower than the $1.42 estimated by analysts.
Cirrus Logic Inc. (CRUS US) slid 16 percent, the most since December 2008, to $13.77. The supplier of parts for Apple Inc.’s iPhone and iPad said third-quarter sales will be $94 million at most, less than analysts’ average estimate of $99.2 million.
EBay Inc. (EBAY US) had the second-biggest gain in the Standard & Poor’s 500 Index, rallying 6 percent to $27.20. The owner of the second-most visited e-commerce site forecast fourth-quarter sales and earnings that exceeded analysts’ predictions as more consumers used the PayPal payments service and a turnaround effort by Chief Executive Officer John Donahoe began taking hold.
Fidelity National Financial Inc. (FNF US) fell 12 percent, the most since April 2009, to $12.98. The largest U.S. title insurer by market share said Alan L. Stinson stepped was replaced as chief executive officer by Chief Operating Officer George P. Scanlon. Stinson will remain with the company as an executive vice president.
Flir Systems Inc. (FLIR US) rose the most in the S&P 500, gaining 6.4 percent to $27.04. The maker of night-vision cameras used by U.S. combat forces boosted its 2010 profit and sales forecasts.
Goodrich Corp. (GR US) climbed 1.9 percent to $79.34, the highest price in data going back to 1980. The maker of engine control systems and landing gear for aircraft forecast 2011 revenue of at least $7.7 billion, more than the average analyst estimate of $7.62 billion in a Bloomberg survey.
Greene Bancshares Inc. (GRNB US) dropped the most in the Russell 2000 Index, tumbling 43 percent to $3.68. The owner of Greene County Bank reported a third-quarter loss of $2.78 a share. Keefe, Bruyette & Woods and Wunderlich Securities cut the stock’s ratings, advising investors to sell the shares.
HNI Corp. (HNI US) fell 14 percent, the most since 1996, to $25.53. The office-furniture maker posted profit excluding some items of 38 cents a share in the third quarter, trailing the average analyst estimate by 21 percent, according to Bloomberg data.
Janus Capital Group Inc. (JNS US) fell 5.9 percent to $10.85 for the biggest drop in the S&P 500. The Denver-based money manager said its Intech quantitative investment unit lost $2.1 billion to withdrawals, bringing net redemptions at the unit to about $7.9 billion for the year.
LSI Industries Inc. (LYTS US) rallied 28 percent to $8.60 for the biggest gain in the Russell 2000 Index. The lighting fixtures maker posted first-quarter profit excluding some items of 18 cents a share, three times Sidoti & Co.’s estimate.
Netflix Inc. (NFLX US) rose the most in the Russell 1000 Index, jumping 13 percent to $172.69. The mail-order and online movie-rental service projected fourth-quarter profit of as much as 74 cents a share, compared with the average analyst estimate of 70 cents, and raised its year-end subscriber forecast to as much as 19.7 million from up to 18.5 million.
Penn National Gaming Inc. (PENN US) rose 5.3 percent, the most since July 22, to $32.84. The operator of casinos and racetracks boosted its full-year earnings guidance to $1.15 a share, more than the 98 cents forecast by analysts. The company’s third-quarter earnings beat analysts’ average estimate.
Precision Castparts Corp. (PCP US) rose 4.1 percent to $135.31, the highest price since January 2008. The maker of metal forgings and fasteners for aircraft reported a second- quarter profit from continuing operations of $1.70, which beat the $1.68 analyst estimate. The company forecast sales growth as aerospace and pipe deliveries begin to strengthen into next year.
Sonoco Products Co. (SON US) fell 3.4 percent to $33.48 for the biggest loss since Aug. 11. The industrial and consumer packaging manufacturer boosted its full-year adjusted earnings forecast to a range of $2.32 to $2.36 a share, which is still lower than analysts’ average projection of $2.43 a share.
Southwest Airlines Co. (LUV US) rose 3.5 percent to $13.62, the highest price since April 23. The largest low-fare air carrier had third-quarter profit of 26 cents a share on an adjusted basis. Analysts estimated profit of 25 cents on average.
SunTrust Banks Inc. (STI US) increased 4.5 percent to $26.59 for the biggest gain since Sept. 24. Georgia’s largest bank posted a profit for the first time in two years as the lender set aside less money to cushion defaults by borrowers in the U.S. Southeast.
Terex Corp. (TEX US) dropped 8.2 percent, the most since May 7, to $22.73. The world’s third-biggest maker of construction equipment reported third-quarter sales from continuing operations of $1.08 billion. Analysts, on average, estimated $1.14 billion, according to a Bloomberg survey.
Tesoro Corp. (TSO US) slid 5.6 percent, the most since October 2008, to $13.14. The U.S. petroleum refiner was cut to “sector perform” from “outperform” at Royal Bank of Canada.
Travelzoo Inc. (TZOO US) climbed 19 percent, the most since March 8, to $31.81. The Internet travel marketer said it earned 22 cents a share in the third quarter. That’s double the estimate from Wedbush Securities Inc.
Westell Technologies Inc. (WSTL US) advanced 11 percent, the most since July 22, to $2.40. The designer of high-speed equipment for telecommunications operators and Internet service- providers reported second-quarter profit of 7 cents a share, topping the 4-cent estimate by Raymond James Financial Inc.
Xilinx Inc. (XLNX US) fell 3.2 percent to $25.17 for its biggest gain since Aug. 12. The semiconductor maker said third- quarter revenue will be as low as about $594.9 million, compared with the average analyst estimate of $624.9 million.
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