Nalco, Spectra, Tidewater, Symantec, Titanium Metals: 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.
Commodity stocks fell after the Reuters/Jefferies CRB Index of 19 raw materials dropped to an eight-month low. Titanium Metals Corp. (TIE US) sank 9.2 percent to $15. Valhi Inc. (VHI US) slumped 8.2 percent to $16.61. Cliffs Natural Resources Inc. (CLF US) declined 7 percent to $47.35. Lundin Mining Corp. (LUNMF US) slipped 9.8 percent to $3.30. Allegheny Technologies Inc. (ATI US) lost 8.4 percent to $46.86.
Aluminum producers declined after the International Aluminium Institute said global output of the lightweight metal rose to a record 112,500 metric tons a day last month.
Alcoa Inc. (AA US) dropped 6 percent to $11.07. Century Aluminum Co. (CENX US) sank 11 percent to $9.60. Aluminum Corporation of China Ltd. (ACH US) declined 7.5 percent to $18.43.
Accretive Health Inc. (AH US) rallied 13 percent to $13.55 on the first day of trading. The Chicago-based company that helps hospitals collect medical bills from patients sold 10 million shares at $12 each in an initial public offering.
ReachLocal Inc. (RLOC US), which helps small- and medium- sized companies buy online advertising, gained 15 percent to $14.98 on its debut after selling $54 million of shares.
Advance Auto Parts Inc. (AAP US) rose the most in the Russell 1000 Index, advancing 6.3 percent to $48.99. The second- largest U.S. auto parts retailer reported first-quarter earnings of $1.19 a share. Analysts had estimated profit of $1.01 a share, the average of projections Bloomberg compiled.
Caterpillar Inc. (CAT US) fell 4.5 percent to $58.67, the lowestprice since March 4. The world’s largest maker of construction equipment said its global retail sales of machines declined 4 percent in April.
General Electric (GE US) fell 5.8 percent, the most since July 17, to $16.26. Wal-Mart Stores Inc. (WMT US), the world’s largest retailer, recalled about 900,000 General Electric- branded coffee makers after reports the appliances burned, melted and caused a house fire, U.S. regulators said. General Electric Co. sold its small-appliance unit that made the coffee makers in 1984 and licenses the brand name.
Hewlett-Packard Co. (HPQ US) fell 2.2 percent to $54.95, the lowest price since Oct. 2. The world’s largest maker of personal computers said it widened a global battery recall after it found further products that may pose a fire hazard.
Hot Topic Inc. (HOTT US) dropped 10 percent, the most since April 15, to $5.88. The mall-based teen clothing and music retailer forecast a second-quarter loss of 7 cents to 10 cents a share, compared with the average analyst estimate of a 7-cent a share loss.
Las Vegas Sands Corp. (LVS US) declined 8.7 percent, the most since Feb. 18, to $19.85. The casino resorts and convention centers’ Singapore casino resort sued the organizers of the first conference it hosted after payment was withheld for an event where the power failed during a speech by the Chief Justice of New South Wales and delegates complained of unfinished rooms.
Nalco Holding Co. (NLC US) fell 5.3 percent, the most since Feb. 3, to $22.15. The U.S. Environmental Protection Agency asked BP Plc, which has been using Nalco’s Corexit as part of its clean-up plans for the oil spill in the Gulf of Mexico, to use a less-toxic chemical dispersant.
New York & Co. (NWY US) dropped the most in Russell 2000 Index, erasing 22 percent to $4.13. The women’s clothing retailer cut its forecast, saying it now expects a second- quarter loss from continuing operations to be wider than a year earlier.
Rockwell Automation Inc. (ROK US) declined 8 percent to $52.16, the lowest price since Feb. 12. The maker of factory software was cut to “neutral” from “overweight” by JPMorgan Chase & Co.
Sears Holdings Corp. (SHLD US) fell 11 percent, the most since Aug. 20, to $88.70. The largest U.S. department-store chain reported first-quarter revenue of $10.05 billion, missing the $10.2 billion average estimate according to a Bloomberg survey.
Spectra Energy Corp. (SE US) retreated 8.2 percent, the most since Nov. 20, to $19.37. The pipeline operator was downgraded to “underperform” from “hold” at Jefferies Group Inc.
Tidewater Inc. (TDW US) fell 9.5 percent, the most since March 2, to $42.90. The world’s largest operator of supply ships for oil drillers reported fourth-quarter revenue of $260 million, trailing the average estimate of $278 million from two analysts in a Bloomberg survey.
Symantec Corp. (SYMC US) slipped 5.6 percent, the most since Jan. 28, to $14.76. The largest maker of security software agreed to buy VeriSign Inc.’s (VRSN US) Authentication Services business to for about $1.28 billion in cash. Deutsche Bank AG downgraded the stock to “hold” from “buy.”
Walgreen Co. (WAG US) lost 6 percent, the most since December 2008, to $32.71. The drugstore chain was downgraded to “neutral” from “outperform” at Credit Suisse by equity analyst Edward Kelly. The price estimate is $36 per share.
Williams-Sonoma Inc. (WSM US) climbed 2.7 percent to $29.22 for the fourth-biggest gain in the Russell 1000 Index. The U.S. gourmet-cookware retailer boosted its full-year profit forecast excluding some items to as much as $1.48 a share, topping the average analyst estimate of $1.37. The company said it expects second-quarter profit excluding some items of as much as 20 cents a share, which also beat estimates.
Zions Bancorp. (ZION US) fell 6.7 percent, the most since Nov. 10, to $22.79. The Salt Lake City-based lender said it will increase two equity-distribution deals to a total of $425 million from $250 million. Zions also said it will sell $150 million in warrants.
To contact the reporter on this story: Lu Wang in New York at lwang8@bloomberg.net