BMC, MGM, Pier 1, QLogic, Raser, UAL, Wynn: 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 unless noted otherwise.
Casinos advanced after Nevada’s Gaming Control Board said Las Vegas Strip gambling revenue jumped 33 percent in February.
Retailers were active after reporting March same-store sales.
Gap Inc. (GPS) gained 3.1 percent to $24.59 after March sales rose 11 percent, about three times the estimate by Retail Metrics. Ross Stores Inc. (ROST) rose 3.6 percent to $56.11 after March sales topped the estimate and it increased its second-quarter and full-year profit forecasts.
Target Corp. (TGT) climbed 3 percent to $55.64 after exceeding estimates for March sales and saying first-quarter profit will top forecasts.
Apogee Enterprises Inc. (APOG) dropped 13 percent, the most since Dec. 1, to $14.35. The maker of glass products reported fourth-quarter profit that missed analysts’ estimates and said sales in fiscal 2011 will decline as much as 15 percent.
American Eagle Outfitters Inc. (AEO) fell 6.4 percent, the most since Nov. 5, to $17.45. The retailer said it expects first-quarter profit of 15 cents to 17 cents, compared with the 17 cent average of 29 estimates in a Bloomberg survey.
Bed Bath & Beyond Inc. (BBBY) rose 4.1 percent to $46.48, the highest price since July 2005. The home-furnishings retailer reported fourth-quarter earnings per share of 86 cents, beating the average analyst estimate of 73 cents in a Bloomberg survey.
BMC Software Inc. (BMC US) rose 3.7 percent, the most since July 15, to $39.52. The maker of programs that manage mainframes and computer networks was raised to “outperform” from “neutral” at Credit Suisse Group AG.
Compellent Technologies Inc. (CML US) fell 26 percent to $13.02 for the biggest drop in the Russell 2000 Index. The storage area network producer cut its forecast for first-quarter revenue to between $31.5 million and $32 million, down from a previous range of $35 million to $37 million. Thomas Weisel Partners LLC lowered its share-price forecast to $22 from $25.
Dolan Media Co. (DM) rose 4.4 percent, the most since Jan. 6, to $10.83. Standard & Poor’s said the business-information company will replace NewMarket Corp. (NEU) in the S&P SmallCap 600 Index. NewMarket, which will take 3Com Corp.’s (COMS US) place in the S&P MidCap 400 Index, gained 1.3 percent to $108.70. 3Com is being purchased by Hewlett-Packard Co. (HPQ)
Forest Laboratories Inc. (FRX) fell the most in the S&P 500, slumping 14 percent to $27.99. The drugmaker failed to win a U.S. panel’s backing to sell a new treatment for flare-ups of a common lung ailment.
Hot Topic Inc. (HOTT US) rose 11 percent, the most since April 2009, to $7.84. The clothing retailer said it will pay a one-time cash dividend of $1 a share and its board authorized a 7 cent per-share regular quarterly dividend.
Pier 1 Imports Inc. (PIR) climbed 17 percent to $8.49, the highest price since June 2007. The U.S. retailer of imported furniture said its sales at stores open at least one year jumped 19 percent from a year earlier and it expects “huge organic growth potential” in the current fiscal year.
QLogic Corp. (QLGC) fell 3.2 percent, the most since Feb. 4, to $20.15. The supplier of chips and switches for corporate networks was cut to “hold” from “buy” at Canaccord Adams.
Raser Technologies Inc. (RZ US) declined 10 percent, the most since Aug. 11, to $1.04. The designer of electric motors for power generation said it may sell as much as $25 million of shares and plans to use the money “for general corporate purposes.”
ScanSource Inc. (SCSC) sank 9 percent, the most since April 2009, to $27.51. The maker of bar-code scanners said sales in the fiscal third quarter were $505 million at most, trailing the average analyst estimate of $546.3 million in a Bloomberg survey.
Standard Microsystems Co. (SMSC US) rose 7.7 percent, the most since May 18, to $26.02. The semiconductor maker boosted its first-quarter forecast for earnings excluding some items to between 23 cents and 28 cents a share. Analysts in a Bloomberg survey estimated 18 cents.
US Airways Group Inc. (LCC US) rose 11 percent, the most since Jan. 5, to $7.55. The airline is in talks about a merger with rival UAL Corp. (UAUA US), the parent of United Airlines, according to people familiar with the matter. UAL added 6.8 percent to $20.23.
WD-40 Co. (WDFC) rose 2.3 percent to $34.23, the highest price since October 2008. The maker of lubricants and handsoap reported earnings per share excluding some items of 64 cents, beating the average analyst estimate in a Bloomberg survey by 72 percent.
Zep Inc. (ZEP) dropped 21 percent, the most since January 2009, to $18.49. The maker of specialty chemical products reported second-quarter earnings that trailed analysts’ estimates.
To contact the reporter on this story: Jeff Kearns in New York at email@example.com.
To contact the editor responsible for this story: Nick Baker at firstname.lastname@example.org.