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.
Retailers advanced after sales at Target Corp. (TGT) and Limited Brands Inc. (LTD US) surpassed analysts’ projections last month as discounts, warmer temperatures and lower gas prices in the U.S. enticed consumers to spend.
Target jumped 6.7 percent to $51.67. Limited climbed 2.7 percent to $40.36. Kohl’s Corp. (KSS) increased 7.1 percent, the most in the Standard & Poor’s 500 Index, to $55.78. Macy’s Inc. (M) added 5.5 percent to $30.46. American Eagle Outfitters Inc. (AEO) rose 6.3 percent to $13.95. Dillard’s Inc. (DDS) advanced 9.4 percent to $59.58. American Apparel Inc. (APP) jumped 13 percent to $1.05.
Urban Outfitters Inc. (URBN) 6 percent to $32.58. The clothing retailer was boosted to “overweight” from “equal weight” by Morgan Stanley.
AAR Corp. (AIR) climbed 5 percent, the most since Dec. 16, to $30.10. The aircraft parts and maintenance provider reported fiscal fourth-quarter profit excluding some items of 55 cents a share, beating the average analyst estimate of 46 cents.
Affymetrix Inc. (AFFX) tumbled 18 percent, the most in a year, to $6.59. The producer of genomic-analysis technology said second-quarter sales will be as low as $64 million, compared with the average analyst estimate of $74.7 million.
Apac Customer Services Inc. (APAC) surged 55 percent to $8.44 for the biggest increase in the Russell 2000 Index. The provider of call centers for customer service agreed to be bought by JPMorgan Chase & Co.’s One Equity Partners unit for $470 million, or $8.55 a share.
Bebe Stores Inc. (BEBE) climbed 15 percent, the most since October 2008, to $7.75. The women’s clothing retailer said it estimates net quarterly earnings per share from continuing operations will be at the high end of its forecast of 1 cent to 4 cents.
Cato Corp. (CATO) slumped 9.1 percent, the most since July 2009, to $27.94. The operator of women’s apparel stores affirmed its second-quarter earnings estimate of 57 cents to 59 cents a share, which compares with an average analyst estimate of 59 cents, according to data compiled by Bloomberg.
Forest Oil Corp. (FST) fell the most in the Russell 1000 Index, sliding 14 percent to $24.24. The Denver-based oil and gas company was cut to “underperform” from “buy” at Bank of America Corp., which said production volume growth is unlikely to turn positive until 2012 “at the earliest.” Macquarie also downgraded the company to “neutral” from “outperform” and Tudor Pickering cut it to “hold” from “accumulate,” after Forest released a 2011 production forecast yesterday.
GenOn Energy Inc. (GEN) rose 5.8 percent, the most since Oct. 8, to $3.99. The power producer formed by the merger of Mirant Corp. and RRI Energy Inc. was raised to “overweight” from “equalweight” at Barclays Capital.
Lumber Liquidators Holdings Inc. (LL) plunged 29 percent, the biggest drop in the Russell 2000 Index, to $18.32. The discount seller of hardwood flooring said profit for the year will be $1 to $1.15 a share, lower than its previous projection of as much as $1.28 a share. Analysts in a Bloomberg News survey had estimated $1.19 a share on average.
Natus Medical Inc. (BABY) fell 10 percent, the most since January 2009, to $13.98. The maker of products to screen newborns for medical conditions said it expects to report second-quarter sales of about $58 million, less than its previous estimate of at least $62 million. Analysts had projected $62.3 million, the average of six estimates in a Bloomberg News survey.
Skyworks Solutions Inc. (SWKS) advanced 6.6 percent, the most since June 7, to $25.21. The wireless semiconductor company was reiterated as a “buy” at UBS AG, which said the company it set to “close a major competitive gap” by shipping power amplifier duplexes incorporating bulk acoustic wave filter technology.
Tessera Technologies Inc. (TSRA) fell 5.4 percent, the most since Jan. 28, to $16.24. The owner of patents related to packaging that protects silicon wafers said second-quarter revenue was about $71 million, versus its prior forecast of $75.5 million to $78.5 million.
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