Cliffs, InterContinental Exchange, RehabCare, Williams: U.S. Equity Movers
Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 1:45 p.m. in New York.
American Medical Systems Holdings Inc. (AMMD US) rose 23 percent to $21.48, after rallying as much as 24 percent, the most intraday since January 2009. The supplier of medical devices to physicians specializing in the treatment of urological disorders was upgraded to “buy” from “hold” at Stifel Nicolaus and to “strong buy” from “outperform” at Raymond James. The company reported first-quarter profit yesterday that beat analysts’ expectations.
Central European Media Enterprises Ltd. (CETV US) slid 19 percent to $26.74, after tumbling as much as 20 percent, the most intraday since February 2009. The owner of television stations in central and eastern Europe reported a first-quarter loss excluding some items of 57 cents a share, 74 percent wider than the average analyst estimate in a Bloomberg survey.
Cliffs Natural Resources Inc. (CLF US) rose 8.1 percent to $58.94 for the biggest advance in the S&P 500. Prices for iron ore pellets, the company’s main product in North America, are likely to increase 130 percent from the 2009 price for the April-to-June period, Michael Gambardella, an analyst at JPMorgan Chase & Co. in New York, said in a report today.
Comfort Systems USA Inc. (FIX US) slumped 15 percent to $12.12, after erasing as much 17 percent, the most intraday since August 2002. The maker of commercial heating, ventilation and air-conditioning systems posted first-quarter profit excluding some items of 13 cents a share, trailing the average analyst estimate by 77 percent.
Cray Inc. (CRAY US) fell 14 percent to $5.77, after slumping 15 percent, the most intraday since December 2008. The Seattle-based maker of supercomputers forecast second-quarter sales of $30 million, missing the average analyst estimate of $47.6 million in a Bloomberg survey.
DG Fastchannel Inc. (DGIT US) jumped 10 percent to $39.572 after rising to $42.15 earlier, the highest intraday price since June 2001. The operator of an electronic network linking advertising agencies with television and radio stations reported first quarter profit excluding some items of 41 cents a share, topping the 19-cent average analyst estimate compiled by Bloomberg.
Esco Technologies Inc. (ESE US) advanced 12 percent to $32.16, after climbing as much as 18 percent, the most intraday since December 2008. The provider of special-purpose communication systems for utility services was raised to “accumulate” from “hold” at Ardour Capital.
Garmin Ltd. (GRMN US) dropped 12 percent to $33.05, after sliding as much as 15 percent, the most intraday since Nov. 4. The maker of portable navigation devices reported first-quarter profit excluding some items of 38 cents a share. Analysts on average predicted 42 cents, according to a Bloomberg survey.
Guess? Inc. (GES US) declined 3.9 percent to $42.11, after erasing as much as 12 percent, the most intraday since December 2008. The clothing maker said President and Chief Operating Officer Carlos Alberini will step down from the posts, effective June 1. Alberini will become co-chief executive officer of Restoration Hardware.
Intercontinental Exchange Inc. (ICE US) rose 5 percent to $119.06 after surging 5.3 percent, the most intraday since April 22. The second-largest U.S. futures market said first-quarter profit rose 40 percent on record volume led by energy contracts. Net income climbed of $1.36 a share compared with an average analyst estimate of $1.31 in a Bloomberg survey.
InterMune Inc. (ITMN US) plunged 76 percent to $10.70 for the biggest retreat in Russell 2000 Index. The drugmaker said it failed to win U.S. approval for a lung treatment that analysts estimated would bring in more than $1 billion in annual sales.
Kforce Inc. (KFRC US) rose 11 percent to $15.49, after climbing as much as 15 percent, the most intraday since Dec. 30. The recruitment company forecast profit of as much as 13 cents a share in the second quarter. Analysts, on average, estimated 10 cents, according to a Bloomberg survey.
Lance Inc. (LNCE US) declined 16 percent to $19.82, after sinking to $17.96 earlier, the lowest intraday price since November 2008. The maker of Cape Cod potato chips reduced its full-year forecast after first-quarter results trailed analysts’ estimates. BB&T Capital Markets and Janney Montgomery Scott LLC downgraded the stock.
Myriad Genetics Inc. (MYGN US) lost 24 percent to $18.40, after sinking as much as 28 percent, the most intraday since January 2001. The maker of a test for detecting inherited breast cancer forecast 2010 profit of 1.35 a share at most, trailing the average analyst estimate of $1.49.
Neutral Tandem Inc. (TNDM US) fell 12 percent to $14.15, after dropping to $13.76 earlier, the lowest intraday price since December 2008. The provider of tandem interconnection services for wireless and cable telephone carriers reported first-quarter profit of 25 cents a share, trailing analysts’ estimates.
News Corp. (NWSA US) fell the most in the Standard & Poor’s 500 Index, erasing 6 percent to $14.47. The owner of the Twentieth Century Fox film studio predicted fiscal fourth- quarter operating income will be lower than a year ago.
RehabCare Group Inc. (RHB US) climbed 12 percent to $31.56, the most intraday since Nov. 4. The rehabilitation-services provider reported first-quarter earnings excluding some items of 61 cents a share, topping the average analyst estimate by 22 percent.
R.R. Donnelley & Sons Co. (RRD US) gained 2.8 percent to $21.61, after increasing as much as 6.7 percent, the most intraday since Nov. 4. North America’s largest printer reported first-quarter profit excluding some items of 33 cents a share, beating the average analyst estimate by 11 percent.
Syniverse Holdings Inc. (SVR US) gained 6.6 percent to $20.82, after rising to $22.13 earlier, the highest intraday price since May 2008. The provider of technology to mobile-phone companies boosted its full-year forecast after first-quarter profit exceeded analysts’ estimates.
Wabco Holdings Inc. (WBC US) rose the most in the Russell 1000 Index, climbing 8.6 percent to $36.03. The supplier of truck braking and suspension systems increased its 2010 sales forecast, saying it expects revenue to grow as much as 28 percent.
Williams Cos. (WMB US) fell 4 percent to $22.40 after sliding 4.8 percent, the most intraday since Feb. 4. The natural-gas producer lowered the midpoints of its profit forecasts for 2010 and 2011 profit mainly because of lower natural gas price assumptions, Jonathan LeFebvre, an analyst at Wells Fargo Securities LLC in New York, said.
XL Capital Ltd. (XL US) rose 6.3 percent to $18.25, the most since Oct. 29. The Bermuda-based insurer said first-quarter profit surged more than analysts expected on improved investment results.