Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 4 a.m. in New York.
Avon Products Inc. (AVP) rose 5.1 percent to $16.96 for the biggest gain in the Standard & Poor’s 500 Index. The world’s biggest door-to-door cosmetics seller will search for a new chief executive officer next year to replace Andrea Jung as Avon grapples with slowing sales.
Caterpillar Inc. (CAT) fell 4.4 percent to $87, the biggest decline in the Dow Jones Industrial Average. The world’s largest construction and mining-equipment maker sold part of its Bucyrus distribution unit in Australia for $360 million to Malaysia’s Sime Darby Bhd.
Charles Schwab Corp. (SCHW) slid 4.9 percent, the most since Nov. 9, to $10.97. The San Francisco-based brokerage said it expects fourth-quarter per-share profit to be 4 cents to 6 cents lower than the 18 cents reported in the previous three months. Analysts, on average, estimated 16 cents, according to a Bloomberg survey.
Cheniere Energy Inc. (LNG) dropped 10 percent, the most since Oct. 3, to $8.39. The Houston-based liquefied natural-gas company said it will sell 33 million shares to repay debt and for general corporate purposes.
Chevron Corp. (CVX) declined 3 percent, the most since Nov. 9, to $100.53. Brazil’s federal prosecutor’s office said it asked the second-largest U.S. oil company to suspend all activity in the country and pay 20 billion reais ($10.7 billion) in damages after an oil spill last month. Transocean Ltd. (RIG) , the offshore drilling contractor, was also asked to suspend activity in Brazil. The shares fell 3.9 percent to $40.19, the lowest price since August 2004.
First Solar Inc. (FSLR) fell 21 percent to $33.45, the most in the Russell 1000 Index. The world’s largest maker of thin-film solar panels reduced 2011 sales and profit forecasts and said it will cut about 100 jobs.
FormFactor Inc. (FORM) dropped 7 percent to $5.02, the lowest price since its initial public offering in June 2003. The maker of equipment that tests the functionality of computer chips lowered its fourth-quarter revenue forecast to no more than $31 million, down from a previous guidance of as much as $34 million.
Green Mountain Coffee Roasters Inc. (GMCR) dropped 4.5 percent to $47.72, the lowest price since Nov. 15. The maker of the Keurig single-serve coffee brewer had its 2012 earnings estimate cut to $2.38 a share from $2.40 by Stifel Nicolaus & Co., citing a November decline in brewer imports.
Hecla Mining Co. (HL) slid 5.9 percent, the most since Nov. 9, to $5.73. The mining company bought the remaining 30 percent interest in the San Juan Silver project at Creede, Colorado for $33.8 million.
Hyperdynamics Corp. (HDY) declined 19 percent, the most in the Russell 200 Index, to $2.16. The oil and gas exploration company said mechanical and operational issues have “curtailed” drilling activities at the Sabu-1 exploration well in Guinea.
Joy Global Inc. (JOYG) dropped 11 percent, the most since February 2009, to $75.44. The maker of P&H and Joy mining equipment projected that demand for commodities will remain slow in the near term.
Silicon Graphics International Corp. (SGI) fell 18 percent to $11.48 for the second-biggest retreat in the Russell 2000 Index. The maker of computer servers said Chief Executive Officer Mark Barrenechea resigned to join a global enterprise software company as CEO. Chairman Ronald Verdoorn will serve as interim CEO.
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