May 24 (Bloomberg) -- 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.
For-profit schools advanced after William Blair & Co. said the stocks will be higher in 12 months because the publication of a rule linking federal student aid to gainful employment will settle a controversy that has discouraged investment, and enrollment will start to rebound in the third quarter. The firm boosted the ratings for DeVry Inc. (DV US), Education Management Corp. (EDMC US) and ITT Educational Services Inc. (ESI US) to “outperform” form “market perform.”
DeVry climbed 4.5 percent to $53.96. Education Management jumped 6.3 percent to $22.19. ITT added 4.8 percent to $70.13. Apollo Group Inc. (APOL US) rose 2.4 percent to $40.97.
AutoZone Inc. (AZO US) rose 6 percent to $293.30, the highest price since its initial public offering in April 1991. The U.S. auto-parts retailer reported third-quarter earnings of $5.29 a share, topping the $4.97 estimated by analysts on average.
Cracker Barrel Old Country Store Inc. (CBRL US) fell the third-most in the Russell 2000 Index, sliding 13 percent to $46.48. The operator of restaurants and gift shops cut its full-year forecast, saying it now expects to earn $3.90 a share at most. Analysts, on average, estimated profit of $4.09 a share, according to a Bloomberg survey.
DSW Inc. (DSW US) rallied 17 percent to $50.47, the highest intraday price since it went public in June 2005. The shoe retailer raised its adjusted profit forecast for fiscal 2012 to as much as $2.80 a share, beating analysts’ estimate of $2.71 on average.
Retail Ventures Inc. (RVI US), DSW’s biggest shareholder, which has agreed to combine with the company, climbed 17 percent to $21.95.
El Paso Corp. (EP US) gained 6.5 percent, the most in the Standard & Poor’s 500 index, to $20.22. The owner of the largest network of interstate natural-gas pipelines in North America will spin off its exploration and production unit this year.
FPIC Insurance Group Inc. (FPIC US) soared 29 percent to $41.34, the highest price since its IPO in 1996. The insurance company agreed to be bought by the Doctors Co. for $42 a share in cash, or about $362 million.
Frontline Ltd. (FRO US) declined 6.4 percent to $18.80 for the second-biggest retreat in the Russell 1000 Index. Vice President Tor Olav Troeim of the world’s largest operator of supertankers said the commodities shipping market is at the start of a “brutal” slump that may last as long as five years.
Goodyear Tire & Rubber Co. (GT US) lost 3.2 percent, the third-biggest loss in the S&P 500 Index, to $16.74. The largest U.S. tiremaker fell after China appealed a World Trade Organization ruling that backed U.S. duties on Chinese tire imports, saying the levies are “protectionist.”
Mecox Lane Ltd. (MCOX US) fell 28 percent, the most since Nov. 30, to $3.59. The Chinese online retailer said its first-quarter loss widened to 7 cents a share from 5 cents a year earlier.
Office Depot Inc. (ODP US) rose 3.6 percent to $4.17 for its biggest gain since since May 12. The second-largest U.S. office-supply chain said Neil Austrian has been named chairman and chief executive officer. He had been serving in the interim since November while the board searched for a permanent replacement.
Perfect World Co. (PWRD US) gained 9.8 percent, the most since April 19, to $26.29. The Beijing-based online game developer posted first-quarter earnings excluding some items of 83 cents a share, beating the average analyst estimate by 41 percent, Bloomberg data show.
Sprint Nextel Corp. (S US) rose 4.8 percent to $5.84, the highest price since October 2008. Google Inc. (GOOG US) plans to unveil a mobile-payment service on May 26 that will be available on phones from Sprint, the third-largest U.S. wireless operator, three people familiar with the matter said.
Tele Norte Leste Participacoes SA (TNE US) rallied 14 percent, the most since November 2008, to $18.79. The Brazilian phone company’s controlling shareholder, Telemar Participacoes SA, announced plans to reduce the number of companies traded to one from three.
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