Apple, CareFusion, DirecTV, Hanover, Kraft, MetroPCS: 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.
AES Corp. (AES US) slipped 7.7 percent to $9.89, the lowest price since June 23. The U.S. power producer with operations in more than two dozen countries lowered its 2010 forecast, projecting earnings excluding some items of 95 cents a share at most. That trailed the average analyst estimate of $1.02.
American International Group Inc. (AIG US) had the second biggest gain in the Standard & Poor’s 500 Index, rallying 5.3 percent to $38.70. The insurer rescued by the U.S. posted profit for the third time in the past four quarters as writedowns narrowed and investment income climbed. First-quarter net income of $1.45 billion compares with a loss of $4.35 billion a year earlier.
Apple Inc. (AAPL US) fell 4.2 percent, the most since Jan. 22, to $235.86. Nokia Corp. (NOK1V FH) said it sued the maker of iPhone and iPad in Wisconsin for infringement of Nokia patents processed and transmitted by Hugin AS.
CareFusion Corp. (CFN US) fell 5.3 percent, the most since Oct. 30, to $26.16. The provider of health-care products and services reduced its 2010 sales forecast as quarterly profit missed analysts’ estimates.
Central European Distribution Corp. (CEDC US) declined 12 percent, the most since June 22, to $26.19. The Polish vodka producer trimmed its 2010 forecast, saying it expects profit excluding some items of $2.20 a share at most. That’s short of the average analyst estimate of $2.58.
Cobalt International Energy Inc. (CIE US) declined 6.9 percent to $8.38, the lowest price since it went public in December. The oil company said it will plug and abandon the Firefox #1 exploratory well, located in Green Canyon Block 817.
Crocs Inc. (CROX US) gained 2.6 percent to $9.84, the first gain in four days. The maker of plastic clogs forecast second- quarter profit excluding some items of as much as 22 cents a share, better than the 17-cent average analyst estimate in a Bloomberg survey. The company also reported first-quarter profit that beat analysts’ estimates.
DirecTV (DTV US) rallied 2.7 percent, the most since Feb. 18, to $35.89. The largest U.S. satellite-TV provider is focusing on adding subscribers to its Latin American business and isn’t considering an initial public offering or spinoff of the unit, Chief Executive Officer Mike White said.
General Cable Corp. (BGC US) advanced 4.9 percent, the most since March 18, to $29.11. The biggest U.S. maker of cable for energy and communications companies forecast second-quarter profit excluding some items of at least 50 cents a share, beating the average analyst estimate of 46 cents in a Bloomberg survey.
Genoptix Inc. (GXDX US) sank the most since it went public in October 2007, falling 23 percent to $27.89. The provider of medicine services to hematologists and oncologists reported first-quarter profit excluding some items of 29 cents a share, missing the 42-cent average analyst estimate.
Hansen Natural Corp. (HANS US) slumped 12 percent, the most since October 2008, to $37.35. The beverage maker reported first-quarter sales of $238.1 million, missing the average analyst estimate in a Bloomberg survey of $257 million.
Hanover Insurance Group Inc. (THG US) rallied 1.5 percent to $43.98, the first gain in four days. The insurer posted quarterly profit that rose on investment gains and higher rates for policies sold to individuals.
Harmonic Inc. (HLIT US) fell 19 percent, the most in more than a year, to $5.42. The provider of video-delivery systems said it agreed to acquire Omneon Inc. for about $274 million in cash and Harmonic stock. The information was disclosed in an e- mailed statement.
Insulet Corp. (PODD US) jumped 5.9 percent, the most since Feb. 10, to $13.99. The maker of a device to give insulin to diabetic patients was upgraded to “outperform” from “market perform” at Barrington Research.
King Pharmaceuticals Inc. (KG US) rose 3.6 percent, the most since Dec. 9, to $9.59. The drugmaker won a preliminary injunction that would stop CorePharma LLC from selling a generic version of its Skelaxin muscle relaxant. Should the company win against Novartis AG’s Sandoz unit, “that would be a positive” for King, Jefferies Group Inc. analyst Corey Davis wrote in a note, adding “the worst is likely past.”
Kraft Foods Inc. (KFT US) rose the most in the Dow Jones Industrial Average, advancing 2.9 percent to $30.07. The world’s biggest confectioner after its acquisition of Cadbury Plc posted first-quarter earnings excluding some items of 49 cents a share, beating the average analyst estimate by 9.9 percent.
Leap Wireless International Inc. (LEAP US) slumped 15 percent, the most since Aug. 7, to $14.26. Citigroup Inc. cut its rating on the pay-as-you-go mobile-phone carrier to “hold” from “buy” and Credit Suisse Group AG advised investors to bet against the stock.
Bigger rival MetroPCS Communications Inc. (PCS US) dropped 11 percent to $7.15. Sprint Nextel Corp. (S US) fell 7.7 percent to $3.84.
Madison Square Garden Inc. (MSG US) added 4.2 percent to $20.32 for the biggest gain since March 23. The owner of the New York sports arena of the same name, Radio City Music Hall and the New York Knicks basketball team reported first-quarter net income of 23 cents a share, beating the 5-cent average analyst estimate in a Bloomberg survey.
Scientific Games Corp. (SGMS US) dropped 17 percent, the most since Oct. 27, to $11.31. The biggest U.S. maker of instant lottery tickets reported first-quarter profit excluding some items of 5 cents a share, half the average analyst estimate.
Stanley Inc. (SXE US) jumped the most in the Russell 2000 Index, rallying 27 percent to $36.79. CGI Group Inc., Canada’s biggest computer-services provider, said it will buy Stanley, an information technology contractor for the U.S. State Department, for about $1.07 billion in cash. The $37.50-a-share offer represents a premium of about 29 percent to Stanley’s closing price yesterday. The combined company will have annual revenue of about $4.5 billion, CGI said.