Ciena, First Solar, Tesoro, Valero: 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.

Solar stocks declined as polysilicon prices fell and Canadian Solar Inc. (CSIQ) reported a fourth-quarter loss wider than analysts’ estimates. Canadian Solar fell 13 percent to $2.85. First Solar Inc. (FSLR) dropped 6.6 percent to $25.80 for the biggest drop in the Standard & Poor’s 500 Index. SunPower Corp. (SPWR) (SPWR US) lost 1.2 percent to $6.75.

American Eagle Outfitters Inc. (AEO) rose 6.3 percent, the most since Nov. 3, to $15.54. The teen-clothing retailer reported fourth-quarter earnings per share of 35 cents excluding some items, matching the average analyst estimate in a Bloomberg survey, and said it expects margin improvement this year.

Brown Shoe Co. (BWS) fell 10 percent, the most since Aug. 25, to $9.39. The operator of the Naturalizer and Famous Footwear shoe-store chains reported fourth-quarter earnings of 10 cents a share, missing the average analyst estimate of 20 cents a share.

Children’s Place Retail Stores (PLCE) fell 3.5 percent, the most since Jan. 5, to $50.59. The youth-apparel chain reported fourth-quarter earnings of 87 cents a share excluding some items, missing the average analyst estimate of 90 cents. The company also said it plans a $50 million share repurchase program.

Ciena Corp. (CIEN) rose 4.2 percent, the most since Feb. 3, to $14.01. The maker of fiber-optic networking equipment said it expects operating results to be stronger in the second half of 2012 than in the first half.

Discovery Laboratories Inc. (DSCO) advanced 8.8 percent to $4.08, the highest price since January 2011. The biopharmaceutical company won approval from the Food and Drug Administration for its treatment to prevent respiratory distress in high-risk premature infants.

Global Cash Access Holdings Inc. (GCA) rose 12 percent to $6.02, the highest price since July 2010. The operator of cash machines in casinos reported fourth-quarter profit and sales that beat analysts’ estimates.

Kraft Foods Inc. (KFT) fell 1.2 percent, the most in the Dow Jones Industrial Average, to $37.83. The maker of Maxwell House coffee and Oreo cookies was cut to “hold” from “buy” by Jefferies Group Inc. Jefferies analysts cited pension contributions and inventory reductions as reason for “limited upside.”

Pandora Media Inc. (P) (P US) plunged 24 percent, the most in the Russell 1000 Index, to $10.86. The Internet radio pioneer forecast first-quarter results that missed analysts’ projections because of a seasonal lull in advertising sales.

Tesoro Corp. (TSO) climbed 4.1 percent, the most since Feb. 7, to $27.27. The refiner started a hydrogen plant in Northern California following maintenance yesterday, according to a notice filed with Contra Costa County regulators.

Transcend Services Inc. (TRCR) had the biggest gain in the Russell 2000 Index, surging 39 percent to $29.18. The provider of patient information management systems for hospitals agreed to be bought by Nuance Communications Inc. (NUAN US) for $29.50 a share, or about $300 million.

Valero Energy Corp. (VLO) rallied 7.3 percent, the biggest jump in the S&P 500, to $27. The largest independent refiner in the U.S. said production at the 195,000-barrel-a-day Memphis oil refinery in Tennessee wasn’t affected by a flash fire.

To contact the reporter on this story: Inyoung Hwang in New York at ihwang7@bloomberg.net.

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

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