Ameritrade, Hollysys, Imax, Lorillard, Tenet: 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.
Bridgepoint Education Inc. (BPI) fell 11 percent, the most since Oct. 14, to $27.01. The for-profit provider of college classes said in a filing with the U.S. Securities and Exchange Commission that stockholder Warburg Pincus plans to resell 34.6 million shares.
CNH Global NV (CNH) climbed the most in the Russell 1000 Index, gaining 12 percent to $41.59. The maker of tractors and combine harvesters boosted its forecast for 2011 sales growth, saying it expects revenue to increase at least 15 percent.
E*Trade Financial Corp. (ETFC US) rose the most in the Standard & Poor’s 500 Index, climbing 5.6 percent to $16.52. The online brokerage’s biggest investor, Citadel LLC, requested a meeting for shareholders to vote on removing some board members and hiring an investment bank to help arrange a sale of the company. E*Trade had said it wouldn’t call a meeting and plans to hire Morgan Stanley (MS) to explore a sale.
The board of TD Ameritrade Holding Corp. (AMTD) plans to discuss a possible bid for E*Trade, the Wall Street Journal reported, citing people familiar with the matter. Kim Hillyer, a spokeswoman for TD Ameritrade, said it was the company’s practice not to comment on rumor or speculation.
Ameritrade added 1.8 percent to $19.96.
HCA Holdings Inc. (HCA US) fell the most in the Russell 1000 Index, sliding 19 percent to $27.97. The hospital chain posted a second-quarter profit excluding some items of 51 cents a share, trailing the average analyst estimate by 15 percent, Bloomberg data show.
Other hospitals also declined. Tenet Healthcare Corp. (THC) fell 3.8 percent to $6.02. Health Management Associates Inc. (HMA) slid 5 percent to $9.77. Universal Health Services Inc. (UHS) erased 4.7 percent to $51.06. Community Health Systems Inc. (CYH) dropped 4.8 percent to $25.71. LifePoint Hospitals Inc. (LPNT) slipped 4.1 percent to $37.03.
Hollysys Automation Technologies Ltd. (HOLI) tumbled 18 percent, the most since its initial public offering in August 2005, to $8.62. The Beijing-based company said its automatic train protection systems weren’t at fault in a high-speed rail crash in China two days ago.
Imax Corp. (IMAX) fell 13 percent, the most since October 2006, to $24.94. The operator of large-screen movie theaters had its share-price estimate reduced to $27 from $32 at Stifel Nicolaus & Co., which said earnings expectations for the second half are “too optimistic.”
Lorillard Inc. (LO) declined 4.5 percent, the most since June 6, to $107.29. The cigarette maker reported second-quarter sales of $1.16 billion, missing the average analyst estimate of $1.17 billion in a Bloomberg survey.
Research In Motion Ltd. (RIM) slid 4.4 percent, the most since June 20, to $26.67. The maker of the BlackBerry smartphone plans to cut about 2,000 jobs, or about a tenth of its workforce, as sales slow amid market share losses to Apple Inc.’s iPhone.
Silicon Laboratories Inc. (SLAB) declined 13 percent to $36.19, the most intraday since April 2005. The designer of integrated circuits for mobile phones said third-quarter sales will decrease as much as 10 percent from the previous three months.
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