Doral, Golar LNG, Red Hat, Wynn Resorts: 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.
Albemarle Corp. (ALB) rallied 12 percent to $64.87 for the second-biggest increase in the Russell 1000 Index. The maker of specialty chemicals reported first-quarter profit excluding some items of $1.15 a share, beating the average analyst estimate by 20 percent, Bloomberg data show.
Amphenol Corp. (APH) rose 6.5 percent, the most since Sept. 1, to $54.92. The maker of electronic and fiber optic connectors and cable forecast second-quarter sales of at least $985 million, beating the average analyst estimate of $979.8 million in a Bloomberg survey.
Autoliv Inc. (ALV) climbed 7.6, the most since May 10, percent to $78.15. The world’s biggest producer of automotive seatbelts and air bags reported first quarter adjusted earnings of $1.93 a share, beating the average analyst estimate of $1.74.
Bancorp Rhode Island Inc. (BARI) surged 43 percent, the most since March 1998, to $44. The company for Bank Rhode Island agreed to be bought by Brookline Bancorp Inc. (BRKL) for $234 million in cash and stock. Brookline fell 11 percent to $9.01.
Doral Financial Corp. (DRL) advanced 28 percent, the most since November 2009, to $1.33. The Puerto Rico bank holding company said it earned 1 cent a share in the first quarter. Two analysts surveyed by Bloomberg both estimated a loss of 14 cents.
Golar LNG Ltd. (GLNG) rose 16 percent to $30.50, the highest price since at least December 2002. The liquefied natural gas shipping line said it doesn’t need to raise additional equity to fund the construction of new carriers.
Hanesbrands Inc. (HBI) gained 6.4 percent to $30.99, the highest price since June 2008. The maker of Playtex and Hanes underwear forecast earnings in 2011 will be as much as $2.90 a share, topping the $2.71 average estimate of analysts.
Intel Corp. (INTC) advanced 7.8 percent, the most since March 2009, to $21.41. The biggest chipmaker forecast second- quarter sales that may top analysts’ estimates as demand for processors for high-powered machines that handle Web services overcame slower personal computer growth. Intel also raised its capital spending estimate for the year.
Piper Jaffray Cos. (PJC US) declined 5.5 percent, the most since Feb. 22, to $35.87. The Minneapolis-based brokerage posted first-quarter profit of 38 cents a share excluding some items, trailing the average analyst estimate in a Bloomberg survey by 27 percent.
Polaris Industries Inc. (PII) jumped 21 percent to $110.28, the highest price since 1987. The snowmobile maker forecast earnings in 2011 will be at least $5.53 a share, topping the average analyst estimate of $4.87.
Red Hat Inc. (RHT) gained 5.8 percent to $47.71, the highest price since Dec. 21. The largest seller of the Linux operating system is likely to benefit from Attachmate Corp.’s acquisition of Novell Inc. (NOVL) , Piper Jaffray Cos. (PJC) said in a note to clients, citing a survey of Red Hat’s partners.
United Technologies Corp. (UTX) rose 4.3 percent to $85.90, the highest price since at least 1980. The maker of Pratt & Whitney jet engines said 2011 sales will be at the high end of its forecast buoyed by demand for Carrier air conditioners and refrigeration.
VMware Inc. (VMW) rallied 14 percent to $97.90 for the biggest increase in the Russell 1000 Index. The biggest maker of programs that let computers run multiple operating systems reported first-quarter profit that topped analysts’ estimates as it benefited from a foray into storage and desktop software.
Wells Fargo & Co. (WFC) fell 4.1 percent, the most since Oct. 15, to $28.83. The largest U.S. home lender said first- quarter revenue fell 5.2 percent to $20.3 billion as fees from mortgage banking declined and average loans outstanding decreased.
Wynn Resorts Ltd. (WYNN) rose 6.5 percent to $147.92, the highest intraday price since November 2007. The owner of the Wynn and Encore casinos reported first-quarter profit rose sixfold, beating analysts’ estimates, lifted by a second Macau resort and improved results in Las Vegas.
Yahoo! Inc. (YHOO US) increased 4.7 percent, the most since Nov. 18, to $16.87. The most-visited U.S. Web portal reported first-quarter sales that topped estimates as companies stepped up their use of Internet advertising.
To contact the reporter on this story: Lu Wang in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Nick Baker at email@example.com
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.