Best Buy, GameStop, Home Depot, Red Hat: 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 1:45 p.m. in New York.

Amazon.com Inc. (AMZN) rose 3.1 percent to $170.48, and earlier climbed 3.6 percent, the most intraday since Feb. 8. The largest e-commerce company was raised to “outperform” from “market perform” at William Blair & Co.

Arctic Cat Inc. (ACAT) rallied 7.8 percent to $15.06 after jumping as much as 13 percent earlier, the most intraday since Jan. 27. The maker of all-terrain recreation vehicles was raised to “buy” from “hold” at KeyBanc Capital Markets Inc.

Bank of America Corp. (BAC) fell the most in the Dow Jones Industrial Average, sinking 1.2 percent to $13.49. The biggest U.S. lender was cut to “market perform” from “outperform” at FBR Capital Markets. The bank may not have the earnings power to be in compliance with the new capital requirements, analyst Paul Miller said in a note to clients.

Best Buy Co. (BBY US) slipped 4.4 percent to $30.45 and fell 5.1 percent earlier, the most intraday since Dec. 14. The world’s largest consumer electronics retailer forecast full-year profit that trailed some analysts’ projections, citing economic challenges.

Charming Shoppes Inc. (CHRS) surged 18 percent to $3.49 and rose as much as 21 percent earlier, the most intraday since April 2009. The women’s apparel retailer reported an adjusted fourth-quarter loss of 8 cents a share, beating the 20-cent loss average estimate of three analysts. Sales in the same period were $575.8 million, surpassing the prediction of $553 million by analysts.

Drugstore.com Inc. (DSCM) more than doubled to $3.77, and rose as high as $3.81 earlier, for the biggest gain intraday since January 2001. Walgreen Co. (WAG) agreed to buy the online pharmacy for $3.80 a share, or about $409 million. Walgreen rose 0.6 percent to $40.05.

Ford Motor Co. (F) surged 5.3 percent to $15.08, the most intraday since Nov. 15. The second-largest U.S. automaker rose as consumer information firm J.D. Power and Associates upgraded its new-vehicle retail sales forecast for 2011 to 10.6 million from 10.5 million.

GameStop Corp. (GME) rose 3.7 percent to $21.90 after jumping as much as 6.1 percent, the most intraday since Nov. 17. The world’s largest video-game retailer said it expects “solid growth” in 2011 and said it may conduct a share and debt repurchase program. The company earlier forecast first-quarter profit excluding some items of at least 53 cents a share, beating the average analyst estimate of 52 cents in a Bloomberg survey.

Harmony Gold Mining Ltd. (HMY US) advanced 4.8 percent to $14.14 and climbed 8.8 percent earlier in the biggest intraday surge since May 11. Africa’s third-largest producer of the metal may become a takeover target, RBC Capital Markets said.

Harry Winston Diamond Corp. (HWD) fell 3.8 percent to $14.35, the most intraday since March 15. Kinross Gold Corp. sold 7.1 million shares in the mining company and jewelry retailer, representing a stake of about 8.5 percent, for about C$100 million ($102.7 million).

Home Depot Inc. (HD) climbed 2 percent to $37.37, the most in the Dow Jones Industrial Average. The largest U.S. home- improvement retailer will “navigate a period of rising costs better than most,” according to Jefferies & Co., which said supply chain and merchandising initiatives will help the company’s margin.

Imax Corp. (IMAX) rose 12 percent to $29.73, after climbing 14 percent, the most intraday since Dec. 31. The operator of large-screen movie theaters plans to open at least 100 theaters a year for two to three years, said Richard Gelfond, the company’s chief executive officer.

Micron Technology Inc. (MU) advanced 8 percent to $11.46, the most intraday since Jan. 12. The largest U.S. maker of computer-memory chips reported fiscal second-quarter sales of $2.26 billion, beating the average estimate of 2.06 billion by 19 analysts in a Bloomberg survey.

Nvidia Corp. (NVDA) , the maker of three dimensional graphics processors, rose 8.2 percent to $19.27. Atmel Corp. (ATML) , the maker of chips for household appliances, gained 6.1 percent to $13.17.

Omnova Solutions Inc. (OMN) surged 8.7 percent to $7.37 after rising 10 percent earlier, the most intraday since June 30. The polymer maker posted first-quarter profit excluding some items of 14 cents a share, beating the average analyst estimate by 61 percent, according to Bloomberg data.

Paychex Inc. (PAYX) fell 3 percent to $31.28, the second-biggest decline in the Standard & Poor’s 500 Index. Oppenheimer & Co. analyst Glenn Greene said that while the company’s third-quarter earnings were “in line” with his estimate, new sales appear to have been “disappointing,” citing comments from management at the seller of payroll and human-resource services to small- and medium-size businesses.

Powerwave Technologies Inc. (PWAV) climbed 3.1 percent to $4.63 and touched $4.87 earlier, the highest intraday price since September 2008. The maker of wireless communications products was raised to “buy” from “neutral” at CL King & Associates Inc.

Red Hat Inc. (RHT) gained 18 percent to $47.16, the biggest gain in the S&P 500. The largest seller of the Linux operating system posted a profit of 26 cents a share excluding some items, beating the 22 cent average of 22 estimates in a Bloomberg survey.

Scholastic Corp. (SCHL) slid 12 percent to $27.50, the most intraday since December 2008. The children’s publishing company cut its forecast for adjusted earnings in 2011 to no more than $1.40 a share, down from earlier guidance of at least $1.80 a share. The lowered forecast misses the average analyst estimate of $1.93.

Smithfield Foods Inc. (SFD) rose 5.3 percent to $23.90 and rallied 6 percent earlier, the most intraday since Dec. 9. The world’s largest pork producer was raised to “‘buy’’ from ‘‘hold’’ at BB&T Capital Markets.

Steelcase Inc. (SCS) advanced 12 percent to $10.65 after rising 15 percent, the most since Sept. 23. The maker of office furniture reported fourth-quarter profit of 11 cents a share, excluding some items, beating the average analyst estimate by 41 percent, Bloomberg data show.

Talbots Inc. (TLB) rallied 25 percent to $5.99 after surging 27 percent, the most intraday since May 2009. The Hingham, Massachusetts-based retailer said its loss in the fourth-quarter was 14 cents a share, beating the 18-cent loss average estimate by analysts.

Trident Microsystems Inc. (TRID) rose 12 percent to $1 and climbed 16 percent earlier, the most intraday since July 30. The maker of graphic chips for digital televisions had a system- on-a-chip design incorporated into a new line of Hisense televisions for the Japanese market.

To contact the reporter on this story: Whitney Kisling in New York at wkisling@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net

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