Acme, Dendreon, Intermec, MEMC, Questcor: 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.
Crude producers and oil-related services providers declined after FBR Capital Markets downgraded Halliburton Co. (HAL) and Transocean Ltd. (RIG) , citing “potential liability” from oil spilling from a damaged BP Plc (BP US) well in the Gulf of Mexico. Halliburton slipped 3 percent to $30.65. Transocean fell 7.9 percent to $72.32.
Other companies that do business in the Gulf of Mexico also retreated. Anadarko Petroleum Corp. (APC) lost 7.7 percent to $62.16. McMoRan Exploration Co. (MMR US) dropped 8.6 percent to $11.94. Energy XXI (Bermuda) Ltd. (EXXI) sank 6.5 percent to $17.58. ATP Oil & Gas Corp. (ATPG US) slipped 11 percent to $18.23. Seahawk Drilling Inc. (HAWK) fell 8.3 percent to $16.66.
Acme Packet Inc. (APKT US) jumped 24 percent to $26.14, the highest price since its October 2006 initial public offering. The maker of devices to transmit phone calls and video boosted its full-year forecast after first-quarter earnings exceeded analysts’ estimates.
Athenahealth Inc. (ATHN) fell 18 percent, the most since February 2009, to $29.02. The provider of Internet-based services posted first-quarter earnings excluding some items of 6 cents a share, trailing the average analyst estimate by 55 percent, according to Bloomberg data.
Coinstar Inc. (CSTR US) surged 16 percent to $44.36, the highest intraday price since it went public in 1997. The owner of Redbox movie-rental kiosks reported first-quarter profit of 21 cents a share, topping the average analyst estimate of 13 cents in a Bloomberg survey.
Clarient Inc. (CLRT US) advanced 10 percent to $3.02, the highest price since Nov. 3. The provider of technologies and services for cancer treatment reported first-quarter revenue that beat analysts’ estimates.
Dendreon Corp. (DNDN) gained 7.7 percent to $54.06, the highest price since the shares starting trading in 2000. The Seattle-based drug company that got approval for its only product, the prostate cancer vaccine Provenge, had its share-price target raised at Canaccord Adams Inc., Needham & Co. and Roth Capital Partners LLC.
Discovery Communications Inc. (DISCA) rose 3.3 percent to $38.73, the highest price since July 2005. The owner of the Discovery Channel and Animal Planet cable channels increased its revenue forecast to as much as $3.78 billion from as much as $3.75 billion. The company also reported first-quarter profit of 39 cents a share, beating the 34-cent average analyst estimate compiled by Bloomberg.
D.R. Horton Inc. (DHI) rose 3.2 percent to $14.69, the highest price since September 2008. The second-largest U.S. homebuilder by revenue reported its second straight quarterly profit as buyers rushed to qualify for a federal tax credit expiring today.
Electronics for Imaging Inc. (EFII US) fell 11 percent, the most since December 2008, to $12.85. The digital-printing company posted quarterly results that broke even and said Chief Financial Officer John Ritchie will leave the company.
Fiserv Inc. (FISV) declined 6.5 percent, the most since October 2008, to $51.13. The manager of check-processing and cash machines reported first-quarter profit that missed analysts’ estimates. Credit Suisse downgraded the stock to “neutral” from “outperform.”
Goldman Sachs Group Inc. (GS) declined 9.4 percent to $145.20, the lowest price since July 2009. Wall Street’s most-profitable firm was downgraded to “neutral” from “buy” at Bank of America Corp., as federal prosecutors are weighing criminal fraud charges against it.
Intermec Inc. (IN US) fell 15 percent, the most since July 2008, to $11.47. The maker of hand-held scanners was cut to “market perform” from “outperform” at Raymond James Financial Inc.
Massey Energy Co. (MEE US) dropped 11 percent to $36.63, the lowest price since Dec. 8. The coal producer said it’s aware of an investigation by the Federal Bureau of Investigation with regard to the explosion at one of the company’s mines in West Virginia.
McAfee Inc. (MFE US) slumped 12 percent, the most since January 2006, to $34.75. The second-biggest maker of security software reported first quarter profit that missed analysts’ estimates after some customers put off large purchases of programs designed to protect computers from malicious software. The company’s rating was cut to “market perform” from outperform” at Wells Fargo Securities by equity analyst Philip Rueppel.
MEMC Electronic Materials Inc. (WFR US) fell 19 percent to $12.97 for the biggest decline in the S&P 500. The maker of silicon wafers for solar modules and semiconductors reported a first-quarter loss as prices for both products declined and administrative expenses doubled. Analysts had forecast a profit.
MicroStrategy Inc. (MSTR) declined 15 percent, the most since Feb. 4, to $76.60. The maker of analytical software was cut to “market perform” from “outperform” by FBR Capital Markets after posting first-quarter per-share earnings that missed the average analyst estimate by 46 percent.
Nasdaq OMX Group Inc. (NDAQ) fell 3.9 percent to $21, thelowestprice since March 25. The global exchange trading group reported first-quarter profit of 43 cents a share excluding some items, trailing the 46-cent average analyst estimate compiled by Bloomberg.
Power-One Inc. (PWER US) rose 36 percent to $7.86, the highest price since October 2006. The maker of power-conversion products for communications equipment reported first-quarter sales that beat analyst expectations.
Questcor Pharmaceuticals Inc. (QCOR US) gained 11 percent to $9.77, the highest price since at least 1988. The maker of a treatment for potentially fatal seizures in infants was raised to “outperform” from “market perform” at Oppenheimer & Co.
QLogic Corp. (QLGC) dropped 10 percent, the most since July 2007, to $19.37. The supplier of chips and switches for corporate networks forecast first-quarter revenue of $146 million at most, missing the highest estimate of $148 million from analysts in a Bloomberg survey.
ResMed Inc. (RMD) rallied 11 percent, the most since August 2008, to $68.43. The world’s second-biggest maker of machines to regulate breathing for people with sleeping disorders reported third-quarter profit of 63 cents a share, beating the average analyst estimate by 13 percent. Morgan Stanley upgraded the stock to “overweight” from “equal weight.”
Thoratec Corp. (THOR) increased 23 percent, the most since January 1999, to $44.76. The maker of implantable heart devices posted first-quarter profit excluding some items of 29 cents a share, exceeding the average analyst estimate by 23 percent. Wells Fargo & Co. boosted the stock’s rating to “outperform” from “market perform.”
VistaPrint Ltd. (VPRT) fell 12 percent, the most since December 2008, to $51.58. The online provider of printing services projected profit excluding some items of 38 cents a share at most in the fiscal fourth quarter. That’s short of the 44-cent average estimate from analysts in a Bloomberg survey.
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