Cephalon, East West Bancorp, Jones Lang: 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.
Allegheny Technologies Inc. (ATI US) fell 7.1 percent, the most since June 29, to $48.37. The producer of titanium and steel reported second-quarter profit of 36 cents a share, a penny less than the average analyst estimate in a Bloomberg survey.
American Oil & Gas Inc. (AEZ US) gained 6.7 percent, the most since June 2, to $7.14. The oil and gas exploration and development company will be acquired by Hess Corp. (HES US) in an all-stock transaction.
Atlas Pipeline Partners LP (APL US) surged 31 percent to $16.21 for the biggest gain in its 10-year history as a public company. The natural-gas pipeline operator will sell its Elk City Gathering and Processing System to Enbridge Energy Partners LP (EEP US) for $682 million.
CB Richard Ellis Group Inc. (CBG US) rose 7.6 percent to $16.58 for the second-biggest advance in the Standard & Poor’s 500 Index. The world’s largest commercial real estate broker reported second-quarter sales and profit that exceeded the average analyst estimates in a Bloomberg survey.
Central European Media Enterprises Ltd. (CETV US) fell 7 percent, the most since June 29, to $20.65. The operator of television channels in central and eastern Europe reduced its revenue forecast for this year because of currency swings and a fall in advertising sales.
Century Aluminum Co. (CENX US) slumped 9.3 percent to $9.57 for the biggest decline since June 29. The second-largest U.S. producer of the metal reported profit excluding some items of 21 cents a share in the second quarter, trailing the average analyst estimate by 15 percent.
Cephalon Inc. (CEPH US) fell 8.4 percent, the most since Nov. 23, to $57.62. The maker of treatments for central nervous system disorders, pain and cancer forecast third-quarter sales of $670 million to $700 million, compared with an average analyst estimate of $717.4 million in a Bloomberg survey.
C.H. Robinson Worldwide Inc. (CHRW US) rose 6 percent, the most since April 22, to $64.87. The transportation services company reported second quarter revenue and profit that exceeded the average analyst estimates in a Bloomberg survey.
Cobalt International Energy Inc. (CIE US) fell 4.5 percent to $8.46, declining for a second day. RBC Capital cut its rating on the offshore oil and gas exploration and production company to “sector perform” from “outperform.”
Compass Minerals International Inc. (CMP US) declined 4.5 percent to $71.85, the lowest price since June 30. The maker of highway de-icing salt and fertilizer reported second-quarter profit excluding some items of 34 cents a share, 20 percent lower than the average analyst estimate in a Bloomberg survey.
East West Bancorp Inc. (EWBC US) fell 11 percent to $15.74 for the biggest drop in the Russell 1000 Index. Sterne Agee & Leach Inc. lowered 2010 and 2011 earnings estimates for the Pasadena, California-based lender to reflect “a slightly more conservative growth outlook,” Brett Rabatin, the analyst, wrote in a report.
Eastman Kodak Co. (EK US) slid 15 percent to $4.18 for the biggest drop in the S&P 500. The maker of cameras and printing and imaging equipment reported a wider-than-projected second- quarter loss and sales that fell short of the average analyst estimate in a Bloomberg survey.
Endurance Specialty Holdings Ltd. (ENH US) fell 3.6 percent, the most since May 11, to $38.36. The property and casualty insurer reported second-quarter profit excluding some items of 96 cents a share, 33 percent less than the average of eight analyst estimates in a Bloomberg survey.
Family Dollar Stores Inc. (FDO US) rose 4.6 percent, the most since March 4, to $41.29. Trian Fund Management LP, the hedge-fund firm headed by billionaire Nelson Peltz, said in a regulatory filing it has a 6.58 percent stake in the discount store chain.
Global Payments Inc. (GPN US) fell 8.5 percent, the most since June 21, to $36.55. The fourth-biggest provider of card- processing services for U.S. merchants forecast fiscal 2011 earnings excluding some items of $2.68 to $2.77 a share, compared with an average analyst estimate of $2.78 in a Bloomberg survey.
Hospira Inc. (HSP US) fell 7.2 percent, the most since January 2009, to $52.72. The maker of generic injectable pharmaceuticals and infusion devices reported second-quarter sales that fell short of the average analyst estimate in a Bloomberg survey and lowered its forecast for full-year net income per share.
Illumina Inc. (ILMN US) gained 6.8 percent, the most since April 29, to $44.05. The maker of DNA analysis equipment boosted its full-year forecast after second-quarter earnings beat analysts’ estimates.
International Game Technology (IGT US) fell 10 percent, the most since November 2008, to $15.02. The world’s biggest maker of slot machines reported fiscal third-quarter revenue of $489.7 million, 2.4 percent lower than the average of 13 analyst estimates in a Bloomberg survey.
International Paper Co. (IP US) lost 5.4 percent, the most since June 29, to $24.12. The largest pulp-and-paper producer reported second-quarter net sales that fell short of the average analyst estimate in a Bloomberg survey. Chief Executive Officer John Faraci said the rate of orders is slowing in the current quarter.
Jones Lang LaSalle Inc. (JLL US) rose 6.1 percent to $79.24, the highest price since May 13. The second-largest publicly traded commercial property broker reported second- quarter profit excluding some items of 83 cents a share, 45 percent higher than the average of five analyst estimates in a Bloomberg survey.
PNM Resources Inc. (PNM US) fell 5.4 percent, the most since May 2009, to $12.11. New Mexico’s largest electric utility, was cut to “underperform” from “hold” at Jefferies & Co. Inc.
Silicon Image Inc. (SIMG US) jumped the most since November 2001, surging 30 percent to $4.35. The designer of chips that transmit television signals forecast third-quarter sales of at least $48 million, topping the average analyst estimate of $43.5 million.
Waters Corp. (WAT US) rose 4.7 percent, the most since May 27, to $65.66. The maker of laboratory products and instruments reported second-quarter sales and profit excluding some items that exceeded the average analyst estimates in a Bloomberg survey.
Websense Inc. (WBSN US) slumped 12 percent to $18.71, its biggest drop in a year. The provider of internet management solutions forecast a range of 29 to 32 cents a share excluding some items in the third quarter, compared with the average analyst estimate of 32 cents in a Bloomberg survey.
Wyndham Worldwide Corp. (WYN US) rose 8 percent to $25.14 for the biggest gain in the S&P 500 Index. The franchiser of Days Inn hotels and Super 8 motels raised its 2010 earnings forecast after second-quarter profit increased on rising travel demand.