Apple, Citigroup, MetLife, Zhongpin: 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.
Insurers declined amid speculation the industry’s biggest companies may face tighter capital rules. MetLife Inc. (MET) dropped 5.8 percent to $37.16 for the biggest retreat in the Standard & Poor’s 500 Index, a day after its plan for a buyback was rejected by the Federal Reserve. Prudential Financial Inc. (PRU) slipped 2.4 percent to $61.58.
Banks that announced plans to repay a taxpayer bailout advanced. Zions Bancorporation (ZION) rose the most in the S&P 500, jumping 11 percent to $21.58. Regions Financial Corp. (RF) gained 6.9 percent to $6.17.
Apple Inc. (AAPL) gained 3.8 percent to $589.58, the highest price since it went public in 1980. The world’s largest technology company had its share price estimate raised to $720 from $515 at Morgan Stanley.
Blyth Inc. (BTH) rose 15 percent to $78.77, the highest price since May 2008. The maker of candles and decorations forecast 2012 earnings per share of as much as $5.25, compared with the profit of $3.69 a share reported for 2011.
Cliffs Natural Resources Inc. (CLF) rose 7.1 percent, the most since Nov. 30, to $69.50. The iron-ore miner said it will more than double its quarterly dividend as part of a new capital-allocation plan.
Endocyte Inc. (ECYT) (ECYT US) gained the most in the Russell 2000 Index, surging 58 percent to $5.89. The West Lafayette, Indiana- based biopharmaceutical company that specializes in cancer and inflammatory diseases said it plans to submit applications to the European Union regulators for its ovarian cancer products EC145 and EC20 in the third quarter.
Federal Signal Corp. (FSS) advanced 26 percent, the most intraday since at least July 1980, to $5.78. The creator of the first rotating light for police squad cars reported fourth- quarter sales of $223.3 million, beating the average analyst estimate of $202 million.
Francesca’s Holdings Corp. (FRAN) surged 9.4 percent to $29.29, the highest price since it went public in July. The women’s apparel retailer forecast first-quarter adjusted earnings of 14 cents to 15 cents a share, more than the average analyst estimate of 13 cents in a Bloomberg survey.
FXCM Inc. (FXCM) advanced 12 percent, the most since Aug. 12, to $11.78. The foreign-exchange trading services provider posted fourth-quarter sales and profit that beat analysts’ estimates.
Guidewire Software Inc. (GWRE) (GWRE US) surged 17 percent to $30.04, the highest price since its January initial public offering. The developer of software for insurance companies reported second-quarter revenue of $55.1 million, exceeding the average analyst estimate of $45.9 million.
LSI Corp. (LSI) rose 7 percent to $9.14, the highest price since April 2007. The maker of chips used in computer disk drives boosted its first-quarter earnings forecast to between 12 cents and 16 cents a share, compared with a prior prediction of 9 cents to 15 cents a share.
Pacific Sunwear of California Inc. (PSUN US) dropped 19 percent, the most since Aug. 24, to $2.04. The teen-apparel retailer forecast a wider first-quarter loss than analysts had estimated.
Penson Worldwide Inc. (PNSN) declined 20 percent, the most since May 12, to $1.02. The securities-clearing firm reported a fourth-quarter loss that was wider than analysts projected, according to data compiled by Bloomberg.
SciClone Pharmaceuticals Inc. (SCLN) climbed 21 percent, the most since August 2009, to $6.34. The drug company reported fourth-quarter earnings excluding some items that beat the average analyst estimate by 67 percent, according to Bloomberg data.
Xerium Technologies Inc. (XRM) tumbled the second-most in the Russell 2000 Index, falling 18 percent to $6.77. The Raleigh, North Carolina-based supplier of paper-making products reported fourth-quarter earnings that fell short of analyst projections, according to data compiled by Bloomberg.
Zhongpin Inc. (HOGS) tumbled 21 percent, the most since February 2006, to $8.36. The Chinese meat and food processor forecast 2012 earnings per share of $1.36 to $1.92. That missed the average analyst estimate of $2.30.
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