CBS, Harris, Novellus, Oplink, ValueClick: 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 9:50 a.m. in New York.
CBS Corp. (CBS) rose 7.4 percent to $27.11, the most in the Standard & Poor’s 500 Index. The owner of the most-watched U.S. television network doubled its dividend after reporting first-quarter profit that beat analysts’ estimates.
Century Aluminum Co. (CENX) fell 8.6 percent to $18.04, the most intraday since Oct. 27. The second-largest U.S. producer of the metal reported first quarter earnings excluding some items of 24 cents a share, missing the average analyst estimate by 9.7 percent.
FEI Co. (FEIC) surged 11 percent to $35.18, after rising to $36.10, the highest intraday since June 2007. The maker of equipment for nanotechnology laboratories forecast profit of at least 55 cents a share in the second quarter. The average estimate from analysts in a Bloomberg survey was 47 cents.
First Solar Inc. (FSLR) fell 5.3 percent to $127.57, after declining 6.6 percent, the most intraday since Nov. 16. The world’s largest maker of thin-film solar modules reported first-quarter profit fell 33 percent as competition from Chinese manufacturers increased and prices declined in Europe, its largest market.
Garmin Ltd. (GRMN) advanced 4 percent to $34.82, after reaching $35.26, the highest intraday price since May 2010. The maker of global-positioning equipment reported first-quarter adjusted earnings of 43 cents a share, beating the 32-cent average estimate by analysts.
Green Mountain Coffee Roasters Inc. (GMCR) soared 21 percent to $77.75, the second-biggest gain in the Russell 1000 Index. The seller of Keurig single-cup brewers boosted its 2011 forecast and announced plans to sell common stock in a public offering.
Harris Corp. (HRS) slumped 7.4 percent to $49.05, the biggest decline in the S&P 500. The provider of information technology services to the government cut its 2011 revenue forecast to $5.9 billion from $6 billion after reporting third- quarter sales that missed the average analyst estimate.
Las Vegas Sands Corp. (LVS) slumped 4.8 percent to $43.65, after falling 7.7 percent, the most intraday since March 1. The U.S. casino company expanding in Asia reported a first- quarter adjusted profit of 37 cents a share. The average estimate of analysts surveyed by Bloomberg was for a profit of 44 cents a share.
Motricity Inc. (MOTR) slid 10 percent to $11.50, after retreating to $11.20, the lowest intraday price since Sept. 28. The provider of mobile-data services forecast second-quarter revenue may be as little as $36 million, less than the average analyst estimate of $37.1 million.
Novellus Systems Inc. (NVLS) rallied 6.2 percent to $32.83, the second-biggest gain in the S&P 500. The semiconductor equipment maker announced an offering of $525 million in senior convertible notes, of which $400 million will be used for stock buybacks.
OpenTable Inc. (OPEN) dropped 13 percent to $91.19, the most intraday since its initial public offering in May 2009. The online restaurant-reservation service said Chief Executive Officer Jeffrey Jordan resigned and will be replaced by Matthew Roberts, the company’s chief financial officer since 2005.
Oplink Communications Inc. (OPLK) declined 6 percent to $17.90, after falling 13 percent, the lowest intraday since Nov. 3. The maker of fiber-optic equipment forecast fourth-quarter earnings excluding some items of 28 cents a share at most, trailing the average estimate of 47 cents in a Bloomberg survey of two analysts.
Quest Software Inc. (QSFT) slid 16 percent to $21.10, the most intraday since April 2004. The Aliso Viejo, California- based maker of database-management programs reported first- quarter earnings of 20 cents a share excluding some items, missing the average analyst estimate by 30 percent, according to Bloomberg data.
Ralcorp Holdings Inc. (RAH) climbed 7.9 percent to $89.88, the highest price intraday since at least February 1997. ConAgra Foods Inc. (CAG) , the maker of Hunt’s ketchup and Healthy Choice frozen meals, made an offer to buy the company for $86 a share in cash, or about $4.9 billion. ConAgra also offered to assume $2.5 billion in debt. The combination would create the third-biggest packaged food company in the U.S., according to ConAgra.
ValueClick Inc. (VCLK) rose 17 percent to $19.35, after rallying 20 percent, the most intraday since August 2006. The Internet advertising company forecast second-quarter earnings of as much as 20 cents a share, topping the average analyst estimate by 2 cents.
Varian Semiconductor Equipment Associates Inc. (VSEA) surged 51 percent to $61.23, the biggest gain in the Russell 1000. Applied Materials Inc. (AMAT) , the world’s largest producer of chipmaking equipment, agreed to buy Varian company for $4.9 billion in cash. Applied Materials will pay $63 a share, a 55 percent premium over yesterday’s closing price.
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