Bottomline, BroadSoft, Tyson, Vertex: 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.
Africa Oil Corp. (AOI) rallied 36 percent to $7.84, the highest price since at least 2000. Tullow Oil Plc (TLW) , the U.K. explorer with the most licenses in Africa, raised its estimate of Kenya’s first oil discovery at the Ngamia-1 well after drilling more than halfway to the planned target depth. Africa Oil is its partner in the site. Tullow Oil added 5.9 percent to $12.54.
American International Group Inc. (AIG) dropped 3 percent to $31.84, the lowest price since April 10. The U.S. Treasury Department agreed to sell $5 billion of shares in the bailed-out insurer, with AIG buying $2 billion of the total.
Bottomline Technologies Inc. (EPAY) fell 15 percent, the most since April 2006, to $19.03. The maker of financial- management and payment software reported third-quarter sales of $55.3 million, lower than the average analyst estimate of $55.9 million in a Bloomberg survey.
BroadSoft Inc. (BSFT) slumped 19 percent, the most since it went public in June 2010, to $33.16. The maker of telecommunications software forecast second-quarter earnings excluding some items of 23 cents a share at most, trailing the average analyst estimate of 28 cents in a Bloomberg survey.
Career Education Corp. (CECO) gained 8.7 percent, the most since Feb. 1, to $7. The for-profit college that operates Le Cordon Bleu North America cooking schools said the Accrediting Council for Independent Colleges removed its show- cause directive, which was related to past job placement rates, on all 71 of its campuses accredited by the council.
Clearwire Corp. (CLWR) fell 14 percent, the most since Nov. 18, to $1.31. The unprofitable wireless-broadband wholesaler filed to offer as much as $300 million shares.
Cognizant Technology Solutions Corp. (CTSH) sank 19 percent, the most in the Standard & Poor’s 500 Index, to $56.30. The information-technology company lowered its 2012 revenue forecast to at least $7.34 billion from at least $7.53 billion. The average analyst estimate is $7.55 billion.
Frontier Communications Corp. (FTR) fell 7.2 percent to $3.61, the lowest price since at least 1988. The phone company serving rural U.S. markets reported first-quarter profit that missed analysts’ estimates.
Georgia Gulf Corp. (GGC) declined 6.7 percent, the most since Oct. 7, to $31.98. Westlake Chemical Corp. (WLK) withdrew its unsolicited $1.2 billion bid to buy North America’s largest maker of vinyl construction products after the sweetened offer was rejected as too low.
GTSI Corp. (GTSI) rose 47 percent, the most since 2000, to $7.72. The provider of computer services to the U.S. government agreed to be bought by Unicom Systems Inc. for $7.75 a share.
Insmed Inc. (INSM) surged 52 percent, the most since February 2009, to $4.10. The developer of inhaled medicines for lung diseases said U.S. regulators lifted a clinical hold on the company’s Arikace drug in cystic fibrosis patients with pseudomonas lung infections.
NN Inc. (NNBR) climbed 26 percent, the most since July 2009, to $9.35. The Johnson City, Tennessee-based maker of steel balls and rollers reported first-quarter earnings excluding some items of 39 cents a share, topping the 33-cent average estimate of two analysts surveyed by Bloomberg. The company also forecast yearly revenue of $415 million to $425 million, compared with the $421 million estimate.
PetMed Express Inc. (PETS) sank 20 percent, the most since July 2004, to $11.07. The seller of pet drugs and still faces “competition, pricing and potentially higher advertising costs,” according to Piper Jaffray Cos., which held the rating at neutral, even after the company reported better-than- anticipated quarterly earnings and sales.
Tempur-Pedic International Inc. (TPX) fell 15 percent to $48.29, the lowest price since March 2011. The maker of luxury mattresses will offer a discount on its Cloud Supreme mattress from mid-May to early July, according to Raymond James & Associates Inc. analyst Budd Bugatch, who wrote that he “cannot remember” the last time the company offered a discount on a mattress.
Thompson Creek Metals Co. (TC) fell 16 percent to $4.64, the lowest price since April 2009. The miner of molybdenum said it intends to offer senior notes and tangible equity units, raising money to fund the construction of its Mt. Milligan copper-gold mine.
Tutor Perini Corp. (TPC) declined 15 percent, the most since December 2008, to $12.32. The construction company reported first-quarter earnings excluding some items of 8 cents a share, missing the average analyst estimate of 42 cents.
Tyson Foods Inc. (TSN) rose the second-most in the S&P 500, climbing 3.3 percent to $18.63. The largest U.S. meat processor reported second-quarter earnings that beat analysts’ estimates and said it will boost stock buybacks by 35 million shares.
Vertex Pharmaceuticals Inc. (VRTX) jumped 55 percent, the most since it went public in 1991, to $58.12. The maker of the first medicine to target the underlying cause of cystic fibrosis said the drug and a second therapy helped improve patients’ breathing ability.
Walt Disney Co. (DIS) gained 2.1 percent to $43.82 for the second-biggest gain in the Dow Jones Industrial Average. The company’s movie “Marvel’s The Avengers” had record ticket sales of $200.3 million in the U.S. and Canada its opening weekend, topping the performance last year of Time Warner Inc.’s (TWX US) “Harry Potter and the Deathly Hallows: Part 2.”
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