ICO Global, McGraw-Hill, Novellus, Terex: 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.
Advanced Micro Devices Inc. (AMD US) rose 5 percent, the most since Oct. 25, to $8.22. The maker of semiconductor products was raised to “buy” from “neutral” at Sterne, Agee & Leach Inc. The 12-month price estimate is $15.
Archer Daniels Midland Co. (ADM US) climbed 6.2 percent to $34.70, the second-biggest gain in the Standard & Poor’s 500 Index. The world’ largest grain processor posted second-quarter profit of $1.07 a share excluding some items, beating the 78- cent average estimate of 12 analysts surveyed by Bloomberg.
Baidu Inc. (BIDU US) rose 9.3 percent to $118.73, the highest price since its initial public offering in August 2005. The owner of China’s most popular search engine said fourth- quarter profit more than doubled as the company outpaced Google Inc. (GOOG US) in boosting advertising sales in the world’s biggest Internet market. Chief Executive Officer Robin Li said the company may seek to a separate listing of its Qiyi.com online video unit.
Barnes & Noble Inc. (BKS US) jumped 7.4 percent to $16.92 for its biggest gain since Jan 3. The largest U.S. bookstore chain’s biggest rival, Borders Group Inc. (BGP US), may file for protection from creditors as soon as next week, according to three people familiar with the matter. Borders fell 36 percent to 47 cents. A Border’s spokeswoman declined to comment.
Energizer Holdings Inc. (ENR US) slumped 5.1 percent to $69.01, the third-biggest decline in the Russell 1000 Index. The battery maker reported first-quarter earnings of $1.68 a share, excluding some items, missing the average analyst estimate by 12 percent, Bloomberg data show.
Entegris Inc. (ENTG US) rose 12 percent, the most since Oct. 26, to $8.53. The maker of packaging equipment to transport semiconductors reported fourth-quarter profit of 23 cents a share, excluding some items. That topped the 18-cent average estimate from analysts in a Bloomberg survey.
Global Cash Access Holding Inc. (GCA US) surged 20 percent to $3.67, the biggest gain the Russell 2000 Index. The operator of cash machines in casinos was raised to “buy” from “hold” at Duncan Williams Inc., which said the company may be an acquisition target. Athena Morales-Wortman, who represents Global Cash at ICR, didn’t return a call seeking comment.
Hovnanian Enterprises Inc. (HOV US) gained 5.7 percent to $4.67, the first increase in four days. Bonds from the homebuilder soared and the cost to protect its debt from losses plunged after the homebuilder announced a plan yesterday to raise capital.
ICO Global Communication (Holdings) Ltd. (ICOG US) surged 15 percent, the most since May 27, to $1.60. DBSD North America Inc., which is owned by ICO and filed for bankruptcy in May 2009, will be purchased by Dish Network Corp. for about $1 billion.
ICU Medical Inc. (ICUI US) gained 10 percent, the most since October 2008, to $43.05. The maker of connectors used to administer intravenous drugs forecast 2011 earnings of at least $2.25 a share. On average, the analysts surveyed by Bloomberg estimated profit of $2.22 a share.
Integrated Device Technology Inc. (IDTI US) rose 11 percent, the most since October 2008, to $7.08. The maker of semiconductors used in networks reported third-quarter earnings of 15 cents a share on an adjusted basis, beating the average analyst estimate of 14 cents a share.
Lexmark International Inc. (LXK US) jumped 13 percent to $39.45, the biggest gain in the Standard & Poor’s 500 Index. The maker of laser and inkjet printers reported fourth-quarter earnings of $1.29 a share, excluding some items, exceeding the $1.12 average of analysts’ estimates compiled by Bloomberg.
McGraw-Hill Cos. (MHP US) fell 5.3 percent, the most since September 2009, to $36.92. The publisher and provider of financial data forecast profit this year will be $2.79 to $2.89 a share, compared with an an average analyst estimate of $2.89 in a Bloomberg survey.
Manitowoc Co. (MTW US) surged 27 percent to $17.11, the biggest gain in the Russell 1000 Index. The maker of overhead cranes produced more than twice as much profit as analysts estimated. The company reported fourth-quarter earnings excluding some items of 11 cents a share, beating the average forecast by 162 percent, according to data compiled by Bloomberg.
Terex Corp. (TEX US), a maker of cranes and heavy trucks, rose 7.8 percent to $34.96.
Masco Corp. (MAS US) gained 4.6 percent, the most since Dec. 8, to $13.93. The insulation installer was rated “buy” in new coverage at Citigroup Inc. The 12-month price estimate is $18.
Novellus Systems Inc. (NVLS US) rose 5.7 percent to $38.14, a seven-year high. The semiconductor equipment maker reported fourth-quarter sales and profit that topped the average analyst estimates in a Bloomberg survey, and forecast first-quarter results that also exceeded projections.
Orexigen Therapeutics Inc. (OREX US) plunged 73 percent, the most since its IPO in May 2007, to $2.50. The biotechnology company must submit additional information to the U.S. Food and Drug Administration before its new diet pill Contrave may be cleared for sale.
Competitor Vivus Inc. (VVUS US) declined 15 percent to $7.57.
Paccar Inc. (PCAR US) dropped 8 percent to $51.95, the biggest decline in the Standard & Poor’s 500 Index. The maker of Kenworth, Peterbilt and DAF trucks reported fourth-quarter earnings of 44 cents a share on an adjusted basis, missing the average analyst estimate of 47 cents, Bloomberg data shows. The company said it expects rising commodity prices and higher costs of installing engine emission equipment to have a “negative impact” on operating margins this year.
Parexel International Corp. (PRXL US) fell 9.9 percent, the most since August 2009, to $20.92. The tester of experimental medicines for drug-makers forecast 2011 earnings of no more than $1.24 a share excluding some items, missing the average analyst estimate of $1.27 a share, according to a Bloomberg survey.
Pfizer Inc. (PFE US) advanced 5.5 percent to $19.22, a one- year high. The world’s biggest drugmaker reported fourth-quarter profit that topped analyst estimates after trimming its workforce and gaining new products through the acquisition of rival Wyeth. Profit excluding one-time items was 47 cents a share, beating the 46-cent average estimate of 16 analysts surveyed by Bloomberg.
Rent-A-Center Inc. (RCII US) rose 6.5 percent, the most since Oct. 26, to $31.67. The biggest U.S. rent-to-own retailer of consumer electronics and appliances forecast 2011 earnings of as much as $3.10 a share, compared with the average analyst estimate of $3.01.
Silicon Motion Technology Corp. (SIMO US) gained 35 percent to $7.23, the biggest advance in the five years since the shares were listed in the U.S. The Taiwanese designer of flash-memory cards reported fourth-quarter earnings excluding some items of 18 cents a share, double the average analyst estimate, according to Bloomberg data.
Tupperware Brands Corp. (TUP US) rose 15 percent to $52.60 for the second-biggest gain in the Russell 1000 Index. The direct seller of plastic storage containers forecast continuing growth in emerging markets, according to Chief Executive Officer Rick Goings. The company reported fourth-quarter earnings of $1.38 a share on an adjusted basis, beating the average analyst estimate of $1.26 a share, according to Bloomberg data.
United Parcel Service Inc. (UPS US) rose 4.2 percent to $74.59, the highest price since April 2008. The world’s largest package-delivery company reported fourth-quarter profit of $1.08 a share on an adjusted basis, beating the average $1.05 estimate of 23 analysts surveyed by Bloomberg.
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