BorgWarner, Goodyear, Lululemon, Regeneron, Tiffany: U.S. Equity Movers
Shares of the following companies had unusual moves in U.S. market trading. Stock symbols are in parentheses, and prices are as of 4 p.m. in New York.
Index changes: Carter’s Inc. (CRI) , the maker of children’s clothes, will replace 99 Cents Only Stores (NDN US) in the S&P MidCap 400 Index after the close on Jan. 13, while Virtus Investment Partners Inc. (VRTS) will take Carter’s place in the S&P SmallCap 600 Index, S&P said.
Carter’s rose 2.9 percent to $41.54. Virtus advanced 7.3 percent to $82.88. School Specialty declined 4.4 percent to $2.40.
Audiovox Corp. (VOXX) gained the most since May 2009, advancing 21 percent to $10.89. The maker of automotive and consumer electronics posted third-quarter sales and earnings that exceeded the single estimate in a Bloomberg survey, and forecast annual earnings higher than the average of two projections.
BorgWarner Inc. (BWA) climbed 12 percent, the biggest gain the Standard & Poor’s 500 Index, to $72.25. The maker of turbochargers forecast profit this year will be $5.35 to $5.65 a share. That tops the $5.17 average estimate of 19 analysts tracked by Bloomberg.
Charles River Laboratories International Inc. (CRL) advanced 17 percent, the second-most in the Russell 1000 Index, to $32.47. The medical research company will probably be broken up in a sale, with the research models and services group going to a private equity firm, and preclinical business getting a strategic buyer, according to Sterne Agee & Leach Inc.
Cirrus Logic Inc. (CRUS) surged 16 percent, the most since Jan. 27, to $19.64. The supplier of parts for Apple Inc.’s (AAPL) iPhone and iPad forecast fourth-quarter revenue of $105 million, above the average analyst estimate of $98.5 million.
Complete Genomics Inc. (GNOM) dropped 24 percent, the most since Aug. 4, to $2.94. The Mountain View, California-based human genome sequencing company was cut to “market perform” from “outperform” at Oppenheimer & Co.
DSW Inc. (DSW) jumped 13 percent, the most since May 24, to $48.11. The shoe retailer lifted its full-year earnings forecast and said it will accelerate store openings this year.
Eastman Kodak Co. (EK) gained the most in the Russell 2000 Index, advancing 50 percent to 60 cents. The unprofitable 131-year-old imaging company simplified its management structure and created a chief operating office to reduce costs.
Emulex Corp. (ELX) rose 13 percent, the most since April 2009, to $8.37. The chipmaker forecast second-quarter earnings of at least 24 cents a share. Analysts projected 17 cents a share, according to the average estimate in a Bloomberg survey.
Francesca’s Holdings Corp. (FRAN) rallied 12 percent, the most since Dec. 7, to $20.31. The Houston, Texas-based women’s apparel retailer raised its fourth-quarter earnings forecast to 16 cents a share to 17 cents a share from an earlier estimate of 14 cents to 15 cents. Analysts projected 15 cents a share on average.
Goodyear Tire & Rubber Co. (GT US) dropped 8.3 percent, the most since Aug. 18, to $14.01. The largest U.S. tiremaker said it’s experiencing softness in global demand.
Health Management Associates Inc. (HMA) fell the second- most in the Russell 1000 Index, sliding 13 percent to $6.05. Sheryl Skolnick, an analyst for CRT Capital Group LLC, raised concerns about an October whistle-blower lawsuit against the operator of acute-care hospitals involving Medicare billing. The suit was filed by a former Health Management employee named Paul Meyer, who has “long experience” investigating Medicare fraud, Skolnick said.
Hi-Tech Pharmacal Co. (HITK) dropped 16 percent, the most since March 2, to $35.31. Wockhardt Ltd. (WPL IN) said it won Food and Drug Administration approval for generic copy of GlaxoSmithKline’s (GSK LN) Flonase nasal spray and plans to introduce the drug immediately. Hi-Tech, the Amityville, New York-based prescription and over-the-counter pharmaceuticals company, sells generic copies of the nasal spray.
Lexicon Pharmaceuticals Inc. (LXRX) rose 9.5 percent, the most since Dec. 30, to $1.27. The biotechnology company said the combination of LX4211 and the DPP-4 drug reduced blood sugar after meals in type 2 diabetes patients more than the DPP-4 inhibitor did on a stand-alone basis.
Life Technologies Corp. (LIFE) rose the second-most in the S&P 500, climbing 8.3 percent to $46.17. The provider of gene-analysis tools said it’s taking orders for the new benchtop Ion Proton Sequencer, designed to sequence the entire human genome in a day for $1,000.
Illumina Inc. (ILMN) , which offers a competing product, HiSeq, rose 3.7 percent to $33.01.
Liz Claiborne Inc. (LIZ) tumbled 13 percent, the biggest drop since Aug. 8, to $8.64. The apparel maker cut its profit forecast for the coming year and said its chief financial officer is departing.
Lululemon Athletica Inc. (LULU) rose 12 percent, the most since December 2010, to $59.87. The yoga-wear retailer forecast fourth-quarter earnings of 47 cents a share to 49 cents a share, topping the average analyst estimate of 42 cents a share.
Regeneron Pharmaceuticals Inc. (REGN) increased 14 percent, the most since April 27, to $74.44. Fourth-quarter net sales for the company’s Eylea drug for wet age-related macular degeneration, a blindness-causing eye disorder, were more than four times what Cowen & Co. estimated.
Signet Jewelers Ltd. (SIG) declined 6.3 percent, the most since Aug. 18, to $44.05. The company forecast 2012 earnings of no more than $3.72 a share, below the average analyst estimate of $3.74 a share.
Tiffany & Co. (TIF US) fell 10 percent, the most in the S&P 500, to $59.94. The world’s second-largest luxury jewelry retailer reduced its annual earnings forecast after volatile stock markets slowed holiday sales growth.
WebMD Health Corp. (WBMD) sank 29 percent, the most since July 18, to $26.25. The medical-information company said it terminated discussions with potential acquirers and that Wayne Gattinella resigned as chief executive officer.
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