Comcast, Horace Mann, RealD, Verigy, Zipcar: U.S. Equity Preview
Shares of the following companies may have unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 8:50 a.m. in New York.
Standard & Poor’s said OYO Geospace Corp. (OYOG) and NuVasive Inc. (NUVA) will replace LaBranche & Co. (LAB US) and American Medical Systems Holdings Inc. (AMMD) in the S&P SmallCap 600 Index after the close of trading on June 15. LaBranche and American Medical are both being bought in deals expected to be completed around that time.
Benihana Inc. (BNHNA) : The restaurant chain said same- store sales rose 5.6 percent in the fourth quarter compared with the same period the prior year.
Comcast Corp. (CMCSA) jumped 6 percent to $25.77. The cable company’s NBC finished talks with advertisers on advance commitments for the television season that starts in September, said a person with knowledge of the situation. NBC averaged about 9 percent higher ad rates for its prime-time shows, said the person, who wasn’t authorized to speak publicly, and received commitments for about 80 percent of the inventory.
High Plains Gas Inc. (HPGS US) declined 7.8 percent to $1.18. The natural-gas producer with leases in Wyoming said it expects to return three fields to production in the third quarter.
Horace Mann Educators Corp. (HMN) slipped 3.2 percent to $14.75. The company which sells insurance to public school employees cut its forecast for 2011 to no more than $1.30 a share, down from an earlier prediction of at least $1.75.
National Semiconductor Corp. (NSM) : The chipmaker being taken over by Texas Instruments Inc. (TXN) reported fourth- quarter revenue of $374.1 million, beating the average $365.3 million of analyst estimates compiled by Bloomberg.
RealD Inc. (RLD) slumped 9.4 percent to $21.80. Analysts questioned executives of the maker of the equipment cinemas use to show movies in 3-D about the appeal of the format. “It’s going to go all over the place, but the net result is going to be a very, very good one,” said Chief Executive Officer Michael Lewis to a question about the volatility of tickets sold for 3- D. “I don’t think you can really read that much into a couple of films’ performance.”
SeaChange International Inc. (SEAC) fell 2.1 percent to $9.89. The provider of digital video systems raised its forecast for 2011 earnings to as much as 74 cents a share excluding some items, compared with the previous prediction of up to 70 cents.
Toll Brothers Inc. (TOL) : The homebuilder’s Chief Executive Officer Douglas Yearley said he sees the rest of the year being “relatively flat,” but that the “healing has begun” in the housing industry, speaking on CNBC.
Valence Technology Inc. (VLNC) : The lithium-ion battery maker reported fourth-quarter revenue of $13.9 million, compared with the $15.5 million estimate of one analyst.
Verigy Ltd. (VRGY) rallied 11 percent to $14.93. The U.S. maker of testing equipment for the semiconductor industry received a notification from the Department of Justice that its antitrust waiting period has ended for its merger with Advantest Corp. and the department has closed its investigation.
Zipcar Inc. (ZIP US) climbed 7.1 percent to $20.73. The car-share company that rents vehicles by the hour was raised to “overweight” from “neutral” at JPMorgan Chase & Co. analyst Paul Coster, who said the recent pullback in shares is a buying opportunity.
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