Adobe, Jefferies, Targacept, Tiffany: 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.

Commodity stocks declined as BHP Billiton Ltd. (BHP) , the world’s biggest mining company, said China’s steel production is slowing.

BHP Billiton slipped 3.3 percent to $73.01. Alpha Natural Resources Inc. (ANR) retreated 4.1 percent to $16.61. Peabody Energy Corp. (BTU) dropped 5.4 percent to $31.64. Cliffs Natural Resources Inc. (CLF) lost 2.4 percent to $71.41.

Manufacturers of mining and construction equipment also fell. Joy Global Inc. (JOY) (JOY US) fell 4.3 percent to $75.92. Caterpillar Inc. (CAT) decreased 2.6 percent to $110.76.

Tanker companies retreated as freight rates and returns retreated for a second day. Frontline Ltd. (FRO) (FRO US) slid 8.7 percent, the most since Dec. 19, to $7.56. Overseas Shipholding Group Inc. (OSG) plunged 13 percent to $11.29, the third-most in the Russell 2000 Index.

Adobe Systems Inc. (ADBE) fell 3.9 percent, the most since Nov. 9, to $33.16. The largest maker of graphic design software forecast lower profit than some analysts had projected, signaling that the new version of Creative Suite may not bring as much of a boost as anticipated.

DHT Holdings Inc. (DHT) fell the second-most in the Russell 2000 Index, tumbling 26 percent to $1.09. The operator of crude carriers said it’s offering 51.8 million of common stock and 259,000 preferred shares, raising money to repay debt.

Gordmans Stores Inc. (GMAN) advanced 26 percent to $19.44, the most in the Russell 2000 Index, and jumped as much as 20 percent, the most intraday since December 2010. The owner of discount retail department stores reported fourth-quarter profit that beat the average analyst estimate by 6 percent, Bloomberg data show.

Jefferies Group Inc. (JEF) increased 2.3 percent to $19.49, the highest price since July 26. The investment bank reported first-quarter net income of 33 cents a share, beating the average analyst estimate of 29 cents.

Targacept Inc. (TRGT) fell 30 percent, the biggest decline in the Russell 2000, to $5.19. AstraZeneca Plc (AZN US) said it won’t seek regulatory approval of an experimental antidepressant licensed from Targacept after the compound failed in its last two late-stage studies.

Tesoro Corp. (TSO) fell 3.4 percent to $28.90, the lowest price since March 7. Workers at the San Antonio-based company’s Anacortes, Washington refinery, where a blast killed seven people two years ago, authorized a strike after rejecting Tesoro’s final contract offer, according to a union spokeswoman.

Tiffany & Co. (TIF) gained 6.7 percent to $73.27 for the biggest rally in the Standard & Poor’s 500 Index. The world’s second-largest luxury jewelry retailer forecast 2012 earnings per share of at least $3.95, exceeding the average analyst estimate of $3.92. The company also estimated 2012 sales of $4 billion, beating the average analyst estimate of $3.9 billion.

Williams Cos. (WMB) rose 2.9 percent to $31.30, the highest price since July 2008. The company’s Williams Partners LP (WPZ) affiliate, the third-biggest U.S. pipeline partnership, agreed to buy a natural-gas pipeline system in the Marcellus Shale from closely held Caiman Energy LLC for $2.5 billion in cash and equity.

To contact the reporter on this story: Joseph Ciolli in New York at jciolli@bloomberg.net

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

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