Abercrombie, LinkedIn, JDS Uniphase, Onyx: 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.
Retailers gained as U.S. retail sales during the Thanksgiving weekend climbed to a record. Tiffany & Co. (TIF) advanced 5.9 percent to $73.62. Macy’s Inc. (M) rose 4.7 percent to $30.84. Abercrombie & Fitch Co. (ANF) added 5.1 percent to $46.93. Limited Brands Inc. (LTD) increased 3.9 percent to $39.84.
Amazon.com Inc. (AMZN) jumped 6.4 percent to $194.15. The world’s largest Internet retailer said it sold four times more Kindle products on Black Friday than it did last year.
Corning Inc. (GLW) rallied 6 percent to $14.78. Demand for televisions on Black Friday was better than expected, boding well for the maker of glass for flat-panel TVs, Goldman Sachs Group Inc. said, citing in-store and online checks.
Banks advanced to follow gains in European lenders after euro-area leaders were said to boost efforts to end the debt crisis. Morgan Stanley (MS) rose 4.1 percent to $13.80. Citigroup Inc. (C US) increased 6 percent to $25.05. Bank of America Corp. (BAC) climbed 1.6 percent to $5.25. JPMorgan Chase & Co. (JPM) jumped 2.4 percent to $29.16.
Base metal producers advanced as copper, lead, nickel and zinc rose on the London Metal Exchange.
Alcoa Inc. (AA) rose 5.7 percent to $9.46 for the biggest gain in the Dow Jones Industrial Average. Freeport- McMoRan Copper & Gold Inc. (FCX) surged 6.3 percent to $35.94. U.S. Steel Corp. (X) climbed 8.5 percent to $24.16. AK Steel Holding Corp. (AKS) rose 7.2 percent to $7.55.
Energy producers rallied as crude oil rose above $100 a barrel for the first time in more than a week on signs of economic recovery in the U.S., while sanctions on Syria stoked concern Middle East crude supplies may be threatened.
Suncor Energy Inc. (SU) gained 3.4 percent to $27.98. Hess Corp. (HES) rose 4.4 percent to $56.74. Marathon Oil Corp. (MRO) surged 5.4 percent to $25.98. Halliburton Co. (HAL) advanced 3.1 percent to $32.77. Chevron Corp. (CVX) increased 3.8 percent to $95.77. Denbury Resources Inc. (DNR) jumped 7.1 percent to $15.33.
AT&T Inc. (T) advanced 2 percent to $27.95, the most since Oct. 27. The second-largest U.S. wireless operator, with its T-Mobile USA takeover facing regulatory opposition, is preparing the biggest remedy proposal yet to the Justice Department to salvage the $39 billion deal, according to a person familiar with the plan. The company is considering an offer to divest a significantly larger portion of assets than it had initially expected, the person said.
Commercial Metals Co. (CMC) soared 24 percent to $14.17 for the biggest increase in the Russell 1000 Index. Billionaire investor Carl Icahn offered to acquire the steel-scrap recycler for about $1.73 billion, or $15 a share, according to a letter Icahn sent to CMC directors.
Foot Locker Inc. (FL) climbed 9.2 percent to $23.07, the most since May 20. The athletic shoe and apparel retailer was raised to “buy” from “neutral” at UBS AG.
Genworth Financial Inc. (GNW) rose the most in the Standard & Poor’s 500 Index, gaining 13 percent to $6.07. The home-loan guarantor and life insurer was boosted to “buy” from “neutral” at Citigroup Inc. (C), which said the stock appeared to “be overly discounting the possibility of bankruptcy risk.”
Greif Inc. (GEF) fell 5.1 percent, the biggest decline in the Russell 1000 Index, to $42.33. The maker of shipping and packaging products lowered its full-year earnings forecast to at most $3.75 a share from at least $4.15 a share, citing lower- than-expected results in western Europe.
JDS Uniphase Corp. (JDSU) rose 7.2 percent to $10.25, the most since Nov. 2. The maker of fiber-optic equipment may beat its “conservative” forecast for the fiscal second quarter as a supply chain disruption resulting from the Thailand flooding will help revenue beat the company’s guidance, Piper Jaffray & Co. said in a note.
LinkedIn Corp. (LNKD US) slid 4.9 percent to $60, the lowest since its initial public offering on May 19. The biggest professional-networking website would be “fairly valued” at about $43 a share, 32 percent below its closing price on Nov. 25, according to a report by Trefis Team in Forbes.com.
Madison Square Garden Co. (MSG) gained 10 percent to $28.37, the most since February 2010. The owner of the New York Knicks was lifted to “buy” from “neutral” by Miller Tabak Co.
Netflix Inc. (NFLX) surged 9.5 percent to $69.95, the most since Nov. 3. The video-streaming and DVD subscription service was raised to “neutral” from “negative” at Susquehanna Financial Group, which said “a significantly lower stock price largely offset the downside potential.”
Onyx Pharmaceuticals Inc. (ONXX) surged 14 percent, the most since July 2010, to $42.80. The developer of the kidney- cancer treatment Nexavar is exploring options, including a possible sale, said two people with knowledge of the matter.
Red Hat Inc. (RHT) rose 5.7 percent to $47.48 for the biggest gain since Oct. 27. The provider of open source software and services said Alex Pinchev, executive vice president of sales and marketing, will leave the company to become the chief executive officer of a closely held data protection software company. The firm is a partner of Red Hat.
St. Joe Co. (JOE) rallied 8.7 percent to $14.03, the most since Nov. 8. The largest landholder in northern Florida was one of the stocks favored by Michael Katz, founder and managing partner of hedge fund Glenrock Asset Management, Barron’s reported.
Tetra Technologies Inc. (TTI) climbed 14 percent to $8.39, the most since September 2010. Directors Thomas R. Bates Jr. and Kenneth P. Mitchell last week bought shares in the provider of chemicals for oil and gas drillers, according to regulatory filings.
Verizon Communications Inc. (VZ) rose 2.6 percent to $36.25, the most since Aug. 23. The second-largest U.S. phone company was raised to “buy” from “neutral” at UBS AG, which cited a “solid, double-digit earnings growth story.”
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