Cummins, Groupon, Mastercard, SandRidge: 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.
Internet and social media companies rose after Facebook Inc. filed to raise $5 billion in an initial public offering. Zynga Inc. (ZNGA) (ZNGA US), the largest developer of games for Facebook, rose 17 percent to $12.39. Groupon Inc. (GRPN) (GRPN US) rallied 7.4 percent to $23.08. Renren Inc. (RENN) (RENN US) gained 8.2 percent to $5.42.
Abercrombie & Fitch Co. (ANF US) sank 14 percent, the biggest decline in the Standard & Poor’s 500 Index, to $40.40. The teen-clothing retailer said fourth-quarter earnings excluding some items were no more than $1.15 a share, missing the average analyst estimate of $1.58.
Alliant Techsystems Inc. (ATK) declined 3.5 percent, the most since Dec. 8, to $58.29. The world’s largest ammunition maker plans to cut “a couple of hundred jobs” by April 1 as it faces heightened competition for its military contracts and lower demand from the Pentagon, Chief Executive Officer Mark DeYoung said.
Allstate Corp. (ALL) rose 3.3 percent to $30.29, the highest price since July 8. The largest publicly traded U.S. auto and home insurer said fourth-quarter profit more than doubled on lower costs tied to catastrophes.
Ameriprise Financial Inc. (AMP) retreated 8 percent, the most since Aug. 8, to $50.38. The wealth management and insurance firm reported fourth-quarter operating earnings of $1.33 a share, less than the average analyst estimate of $1.40.
Amylin Pharmaceuticals Inc. (AMLN) rallied 14 percent to $17.76, the highest price since October 2010. The San Diego- based drugmaker rose after Novo Nordisk A/S (NVO US) reported a bigger-than-forecast increase in fourth-quarter profit, boosted by demand for its diabetes drug. Amylin received U.S. approval Jan. 30 for a weekly diabetes shot.
Ann Inc. (ANN) slid 6.7 percent, the most since Nov. 18, to $22.91. The women’s clothing retailer said fourth-quarter sales were about $566 million, missing the average analyst estimate of $578.2 million.
Boston Scientific Corp. (BSX) lost 4.1 percent, the most since Dec. 8, to $5.84. The second-largest heart-device maker by revenue reported fourth-quarter revenue of $1.85 billion, falling short of the average analyst estimate of $1.91 billion.
Central European Distribution Corp. (CEDC) surged 18 percent, the most since Nov. 29, to $5.28. Russian Standard, controlled by billionaire Roustam Tariko, proposed to raise its stake in the vodka producer that owns Zubrowka and Parliament brands to 33 percent.
Concur Technologies Inc. (CNQR) gained 8.7 percent to $58.74, the highest price since its initial public offering in December 1998. The developer of software that helps companies manage travel expenses forecast revenue in 2012 will rise 26 percent from last year.
Cummins Inc. (CMI) rallied 7.1 percent to $113.31, the highest price since May 11. The maker of diesel engines reported a sales forecast for this year that topped analysts’ estimates, boosted by growth in the construction, power generation and oil and gas markets.
Education Management Corp. (EDMC) tumbled 17 percent, the biggest decline in the Russell 1000 Index, to $21.20. The for-profit education company forecast third-quarter earnings to be no more than 28 cents, missing the average analyst estimate of 42 cents.
Electronic Arts Inc. (EA) (EA US) gained 6.1 percent, the most since Nov. 30, to $19.57. The second-largest U.S. video-game publisher reported a 70 percent increase in third-quarter profit.
Gap Inc. (GPS) rallied 11 percent, the biggest gain in the S&P 500, to $21.52. The largest U.S. specialty apparel chain forecast fourth-quarter earnings of at least 41 cents a share, exceeding the 35-cent average estimate of analysts.
Green Mountain Coffee Roasters Inc. (GMCR) surged 24 percent, the most in the Russell 1000 Index, to $66.42. The maker of Keurig brand single-cup pods and brewers reported first-quarter profit that exceeded analysts’ estimates as sales of K-Cups surged.
Intersil Corp. (ISIL) sank 5.6 percent, the most since Nov. 17, to $11.02. The semiconductor maker forecast first- quarter adjusted earnings will be no more than 9 cents a share, missing the average analyst estimate by 3 cents. The Milpitas, California-based company was cut to “hold” from “buy” at Craig-Hallum Capital Group LLC and Needham & Co.
MasterCard Inc. (MA) jumped 6.7 percent to $381.57, the highest price since its initial public offering in May 2006. The world’s second-biggest payments network said fourth-quarter profit climbed 24 percent as spending with credit and debit cards increased.
RealD Inc. (RLD) rallied 16 percent, the most since November 2010, to $11.31. The maker of 3-D projection gear for theaters reported third-quarter revenue of $49 million, topping the average analyst estimate of $42.4 million.
Ryder System Inc. (R) dropped 6.9 percent, the most since Aug. 18, to $53.02. The U.S. truck-leasing company forecast earnings in the first-quarter of no more than 58 cents a share, missing the average analyst estimate of 70 cents.
SandRidge Energy Inc. (SD) sank 8.6 percent, the most since Oct. 3, to $7.16. The energy company agreed to buy Dynamic Offshore Resources LLC for $1.28 billion in cash and stock. The purchase will be made using $680 million in cash and about 74 million shares of SandRidge.
ShoreTel Inc. (SHOR) sank 19 percent, the most since December 2008, to $5.50. The U.S. maker of Internet phone systems for businesses forecast third-quarter sales of no more than $57 million, falling short of the average analyst estimate of $58.1 million.
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