Apollo, MasterCard, SunTrust Banks, Visa: 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.
Agilent Technologies Inc. (A) slid 6.2 percent, the most since March 2009, to $32.08. The world’s biggest maker of scientific-testing equipment is engaged in a “risky sales-management practice” as it compensates salespeople on bookings rather than billings, Credit Suisse Group AG wrote in a note to clients.
Ambac Financial Group Inc. (AMBC) fell the most in the Russell 2000 Index, sinking 23 percent to $1.12. The bond insurer that stopped paying some claims and accepting new business said its first-quarter net loss widened to $690.1 million on accounting changes.
Apollo Group Inc. (APOL) fell 5.8 percent, the most since April 29, to $54.52. The largest U.S. for-profit university declined after Inside Higher Ed reported that U.S. Education Deputy Undersecretary Robert Shireman, who is leaving in July, will continue to “hold sway” in the Obama Administration’s push to produce tougher industry regulations.
Beazer Homes USA Inc. (BZH) advanced 5 percent to $5.50, the most since May 10. The homebuilder whose shares tripled in 2009 was raised to “buy” from “hold” at Citigroup Inc.
Boyd Gaming Corp. (BYD) rose the fourth-most in the Russell 1000 Index, adding 4 percent to $13.77. Billionaire John Paulson’s hedge fund Paulson & Co. bought 4 million shares of casino company, according to a regulatory filing.
China Nepstar Chain Drugstore Ltd. (NPD) dropped 17 percent to $4.74, the lowest price since June 23. The country’s biggest drug-store chain by number of outlets reported first-quarter revenue of $83.1 million, trailing the $89.1 million estimated by Roth Capital Partners.
Fidelity National Information Services Inc. (FIS) slid 6 percent to $27.15, the most since April 1. Blackstone Group LP (BX US), Thomas H. Lee Partners LP and TPG Capital ended talks to buy the company, which processes payments and issues cards for more than 14,000 institutions worldwide, in what would have been the largest leveraged buyout in three years.
Forest Laboratories Inc. (FRX) rose the most in the S&P 500, climbing 5.7 percent to $27.67. The drugmaker said its board has approved a plan to buy back as many as 50 million shares.
QAD Inc. (QADB) slumped 8.4 percent, the most since June 3, to $5.23. The maker of logistics software for manufacturers reversed its profit forecast, saying it expects a loss of at least 4 cents a share in the first quarter ended April.
Resource Capital Corp. (RSO) lost 11 percent to $5.99, the lowest since Feb. 19. The real-estate investment trust that owns commercial properties said it will sell $80 million of stock in an offering run by Deutsche Bank AG and JPMorgan Chase & Co.
Sina Corp. (SINA) rallied 7.8 percent, the most since Nov. 17, to $37.57. The operator of China’s third-most-visited website said first-quarter profit more than doubled as the expanding Chinese economy boosted online advertising sales.
Spreadtrum Communications Inc. (SPRD US) rose 16 percent to $9.46, the highest price since June 2008. The Chinese maker of mobile-phone chips forecast revenue of at least $65 million in the second quarter, beating the average analyst estimate of $44 million in a Bloomberg survey.
SunTrust Banks Inc. (STI) fell 6.2 percent to $28.03, the lowest price since May 7. Warren Buffett’s Berkshire Hathaway Inc. (BRK/B US) divested its stake in the bank, which is holder of the most bailout funds among U.S. regional lenders, according to a regulatory filing.
Visa Inc. (V) and MasterCard Inc. (MA) declined to the lowest levels since October after Sen. Sheldon Whitehouse, a Democrat from Rhode Island, said the U.S. should cap interest rates on credit cards. Visa, the world’s biggest payments network, fell 6.2 percent to $70.09. MasterCard, the second-biggest, lost 3.8 percent to $202.81.
Discover Financial Services (DFS) slumped 5.3 percent to $13.46.
Wal-Mart Stores Inc. (WMT) rose 1.8 percent to $53.70 for the biggest advance in the Dow Jones Industrial Average. The world’s largest retailer earned 88 cents a share in the first quarter, beating the average analyst estimate of 85 cents, according to data compiled by Bloomberg.
Whiting USA Trust I (WHX) slumped 14 percent to $18.92, the lowest since May 6. The oil and natural gas company was cut to “underperform” from the equivalent of “market perform” by both RBC Capital and Raymond James Financial Inc.
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