Breaking News

Alibaba Indicated to Start Trading at $84 to $87

AFC, Big Lots, Empire District, Level 3: 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 9:40 a.m. in New York.

AFC Enterprises Inc. (AFCE) rose 3.7 percent to $15.56. The owner and operator of Popeyes restaurants said it earned 27 cents a share excluding some items in the first quarter, beating the average analyst estimate by 2.7 percent.

Big Lots Inc. (BIG) slumped 3.8 percent to $31.10. The discount retailer forecast second-quarter earnings of 38 cents to 48 cents a share, falling short of the average analyst estimate of 52 cents, according to Bloomberg data.

Computer Sciences Corp. (CSC) lost 9.2 percent to $40.03. The provider of computer services to companies and U.S. government agencies said profit for fiscal 2012 will be as much as $4.80 a share. Analysts projected $5.07, according to the average of estimates compiled by Bloomberg.

Family Dollar Stores Inc. (FDO) gained 2 percent to $55.92. Bill Ackman, the founder of Pershing Square Capital Management known for investing in companies to press for changes, said he invested in the Matthews, North Carolina-based discount retailer because it’s “very reasonably priced” and may be acquired.

Empire District Electric Co. (EDE) plunged 17 percent to $18.51. The electricity provider in Missouri said it is suspending its quarterly dividend for the second half of 2011, citing a tornado this month.

Guess? Inc. (GES US) rose 12 percent to $44.76. The clothing retailer forecast second-quarter earnings excluding some items of as much as 83 cents a share, compared with the average analyst estimate of 78 cents.

Hhgregg Inc. (HGG) gained 14 percent to $14.75. The Indianapolis-based appliance and electronics retailer forecast 2012 earnings of as much as $1.35 a share, compared with the average analyst projection for $1.29 a share. The company also reported quarterly earnings that exceeded estimates.

Immucor Inc. (BLUD) climbed 4.6 percent to $21.90. The maker of products used to screen donated blood was raised to “outperform” from “sector perform” at RBC Capital Markets LLC by with a 12-month price estimate of $25 a share.

Level 3 Communications Inc. (LVLT) advanced 1.6 percent to $2.24. The broadband service provider purchasing Global Crossing Ltd. cut borrowing costs in a $600 million bond sale as relative yields on its securities plunge.

Lululemon Athletica Inc. (LULU) fell 1.8 percent to $95.86. The biggest Canadian athletic-wear retailer was cut to “underperform” from “market perform” at FBR Capital Markets LLC with a 12-month price estimate of $80 a share. FBR cited rising costs.

NetApp Inc. (NTAP) rose 4.5 percent to $54.04. The data- management company forecast adjusted earnings of as much as 57 cents a share for the first quarter, compared with the average estimate of analysts surveyed by Bloomberg of 50 cents a share.

Semtech Corp. (SMTC) climbed 7 percent to $29.21. The semiconductor maker forecast second-quarter earnings excluding some items of at least 47 cents a share, beating the average analyst estimate of 46 cents in a Bloomberg survey.

Sigma Designs Inc. (SIGM) lost 9.6 percent to $9.95. The semiconductor manufacturer reported first-quarter earnings excluding some items of 7 cents a share, 57 percent below the average analyst estimate.

Tiffany & Co. (TIF) increased 5.8 percent to $74.13. The world’s second-largest luxury jewelry retailer posted first- quarter profit that beat analysts’ estimates and raised its full-year forecast as sales did better in Japan than expected after the earthquake.

To contact the reporter on this story: Whitney Kisling in New York at

To contact the editor responsible for this story: Nick Baker at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.