March 20 (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.
Commodity stocks declined as BHP Billiton Ltd. (BHP US), 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 US) retreated 4.1 percent to $16.61. Peabody Energy Corp. (BTU US) dropped 5.4 percent to $31.64. Cliffs Natural Resources Inc. (CLF US) lost 2.4 percent to $71.41.
Manufacturers of mining and construction equipment also fell. Joy Global Inc. (JOY US) fell 4.3 percent to $75.92. Caterpillar Inc. (CAT US) decreased 2.6 percent to $110.76.
Tanker companies retreated as freight rates and returns retreated for a second day. Frontline Ltd. (FRO US) slid 8.7 percent, the most since Dec. 19, to $7.56. Overseas Shipholding Group Inc. (OSG US) plunged 13 percent to $11.29, the third-most in the Russell 2000 Index.
Adobe Systems Inc. (ADBE US) 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 US) 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 US) 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 US) 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 US) 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 US) 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 US) 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 US) rose 2.9 percent to $31.30, the highest price since July 2008. The company’s Williams Partners LP (WPZ US) 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.
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