Cree, Monster Worldwide, NetApp, PulteGroup: 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.

Builders slumped after sales of previously owned homes unexpectedly dropped in July. D.R. Horton Inc. (DHI US) slipped 6.3 percent to $9.13. KB Home (KBH) fell 10 percent to $6. PulteGroup Inc. (PHM US) tumbled 11 percent to $4.16. Toll Brothers Inc. (TOL) fell 6.8 percent to $15.52.

Companies that rent construction equipment fell after Macquarie Group Ltd. cut United Rentals Inc. (URI) , RSC Holdings Inc. (RRR) and H&E Equipment Services Inc. (HEES) to “neutral” from “outperform,” saying a recovery in non- residential market will likely be “muted” next year.

United Rentals slumped 15 percent to $14.19. RSC declined 12 percent to $7.39. H&E tumbled 12 percent to $8.99.

Staffing companies declined after U.S. Labor Department figures showed more Americans than forecast filed applications for unemployment benefits last week. Monster Worldwide Inc. (MWW) slipped 10 percent to $7.53. Robert Half International Inc. (RHI) erased 5.7 percent to $21.45. Manpower Inc. (MAN) dropped 9.1 percent to $37.20.

Albemarle Corp. (ALB) fell 10 percent, the most since December 2008, to $48.35. The maker of specialty chemicals was reduced to “neutral” from “buy” at Longbow Research.

Buckle Inc. (BKE) dropped 7.8 percent to $34.49, the lowest price since Nov. 12. The teen retailer said its second- quarter earnings per share excluding some items were 50 cents a share, meeting the average estimate of analysts, Bloomberg data show.

Cree Inc. (CREE) declined 10 percent, the most since March 23, to $31.25. The maker of energy-efficient lighting said its purchase of Ruud Lighting Inc. will reduce profit margins in the current quarter.

Eastman Kodak Co. (EK) rose the second-most in the Russell 2000 Index, rallying 13 percent to $3.05. The 131-year- old camera company began selling its patents this week, the Wall Street Journal reported, citing a person familiar with the matter.

Goodyear Tire & Rubber Co. (GT) dropped 12 percent to $11.75, the lowest price since Aug. 8. The largest U.S. tiremaker was cut to “sell” from “neutral” by Goldman Sachs Group Inc., which said the company faces a deceleration in earnings in the second half.

International Rectifier Corp. (IRF) fell 11 percent, the most since May 2009. The semiconductor manufacturer said fourth- quarter earnings excluding some items were 50 cents a share, missing the average analyst estimate of 51 cents a share.

MGM Resorts International (MGM) slumped 13 percent, the most since May 2009, to $10. Kirk Kerkorian’s Tracinda Corp., the biggest owner of the casino operator, said it sold 20 million shares.

NetApp Inc. (NTAP) plunged 14 percent to $35.81 for the biggest retreat in the Standard & Poor’s 500 Index. The maker of data-storage products reported fiscal first-quarter sales that missed analysts’ estimates after business “softened dramatically” toward the end of July, according to a statement.

Other computer-networking companies also fell. EMC Corp. (EMC US) dropped 8.5 percent to $20.59. Riverbed Technology Inc. (RVBD) erased 15 percent to $20.66. F5 Networks Inc. (FFIV) slumped 9.4 percent to $71.30. Teradata Corp. (TDC) declined 13 percent to $45.42. Aruba Networks Inc. (ARUN) tumbled 17 percent to $17.10. Informatica Corp. (INFA) slid 11 percent to $41.08.

Phoenix New Media Ltd. (FENG US) fell 17 percent to $7.40, the lowest price since it went public in May. Cowen & Co. reduced its full-year sales and earnings forecasts for the Beijing-based Internet, TV and mobile-news provider, citing lower-than-expected demand for paid services.

Sears Holdings Corp. (SHLD) erased 8.2 percent to $55.23, the lowest level since May 2009. The department-store chain with more than 4,000 locations in North America reported a second-quarter loss per share excluding some items of $1.13 a share.

Stage Stores Inc. (SSI) dropped 18 percent, the most since December 2008, to $13.34. The clothing retailer forecast a third-quarter loss of 21 cents to 24 cents a share, wider than the 19-cent loss estimated on average by analysts in a Bloomberg survey.

To contact the reporters on this story: Lu Wang in New York at lwang8@bloomberg.net; Nikolaj Gammeltoft in New York at ngammeltoft@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net

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.