Green Mountain Coffee, Itron, Kellogg, QEP: 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.
Akamai Technologies Inc. (AKAM) had the second-biggest loss in the Standard & Poor’s 500 Index, dropping 13 percent to $38.35. The largest supplier of software to make websites and digital media load faster said its profit margin shrank as it added business from customers like Netflix Inc. at lower prices.
American Apparel Inc. (APP) fell 14 percent, the most since May 19, to $1.55. The Los Angeles-based retailer with more than 280 clothing stores said Deloitte & Touche LLP resigned as its accountant.
Ameriprise Financial Inc. (AMP) rose 12 percent, the most since Sept. 30, to $42.98. The Minneapolis-based wealth management and insurance firm reported second-quarter profit excluding some items of $1.10 a share, beating the average analyst estimate by 44 percent.
BMC Software Inc. (BMC US) slid 6 percent, the most since May 2009, to $35.62. The maker of programs that manage mainframes and computer networks reported first-quarter profit excluding some items of 62 cents a share, trailing the 65-cent average estimate from analysts in a Bloomberg survey.
Bunge Ltd. (BG) slumped 14 percent, the most since October 2008, to $46.29. The world’s second-largest sugar trader reduced its full-year earnings forecast after soybean-processing margins in the U.S. and South America shrank.
Chesapeake Midstream Partners LP (CHKM US) increased 6.7 percent to $22.40 on the first day of trading. The Oklahoma-based Pipeline operator sold 21.3 million units at $21 each in an initial public offering.
Citrix Systems Inc. (CTXS) gained 20 percent to $56.67 for the biggest advance in the S&P 500. The maker of networking software was raised to “outperform” from “neutral” at Robert Baird & Co. Inc and to “neutral” from “underperform” at Cowen & Co. LLC.
Colgate-Palmolive Co. (CL) fell 6.8 percent, the most since September 2004, to $78.12, after sliding as much as 8.6 percent, the most intraday since October 2008. The world’s largest toothpaste maker reported second-quarter sales of $3.81 billion, missing the $3.94 billion average estimate in a Bloomberg survey of analysts.
CommScope Inc. (CTV US) declined 18 percent, the most since February 2009, to $21.34. The maker of communications equipment forecast third-quarter sales of $815 million to $865 million, lower than the average analyst projection of $868.3 million, according to data compiled by Bloomberg.
Constellation Energy Group Inc. (CEG US) fell 4.6 percent to $31.75, the lowest price since July 6. Jefferies & Co. lowered its 2010 earnings estimate for the supplier of electricity and natural gas.
Covance Inc. (CVD) slumped 20 percent, the most since October 2008, to $39.65. The contract research organization for pharmaceutical companies cut its profit forecast for the year to $2.10 to $2.30 a share, compared with the average analyst estimate of $2.42 according to data compiled by Bloomberg.
Entropic Communications Inc. (ENTR) rallied 16 percent to $7.96, the highest price since its initial public offering in December 2007. The designer of digital home networking semiconductors posted second-quarter profit of 8 cents a share excluding some items, compared with the average analyst estimate of 7 cents in a Bloomberg survey.
Express Scripts Inc. (ESRX) rose 5.8 percent, the most since May 10, to $44.66. The pharmacy benefits manager boosted the low end of its full-year earnings forecast after second-quarter profit topped analysts’ estimates.
Green Mountain Coffee Roasters Inc. (GMCR) rose 9.4 percent, the most since Jan. 28, to $31.36. The maker of coffee and Keurig brewing machines reported fiscal third-quarter sales and profit that exceeded the average analyst estimates in a Bloomberg survey.
Harsco Corp. (HSC) slumped 14 percent, the most since January 2009, to $22.96. The railway maintenance provider slashed its full-year forecast, saying it expects to earn 90 cents a share at most. Analysts, on average, estimated profit of $1.50.
Hill-Rom Holdings Inc. (HRC) jumped 12 percent, the most since May 2009, to $32. The maker of hospital beds and stretchers increased its 2010 forecast after third-quarter earnings exceeded analysts’ estimates.
Interpublic Group of Cos. (IPG US) advanced 8.9 percent, the most since March 1, to $8.98. The advertising company reported second-earnings that topped analysts’ estimates and said it expects to “return to growth” this year.
IRobot Corp. (IRBT) rose 7 percent to $20.76, the first gain in three days. The maker of Roomba home vacuums and battlefield bomb-disposers boosted its earnings forecast for the year and reported second-quarter profit of 20 cents a share excluding some items, topping the 8-cent average analyst estimate compiled by Bloomberg.
Iron Mountain Inc. (IRM) fell 5.5 percent, the most since April 29, to $24.06. The information management company lowered its forecast for full-year revenue growth because gains by the U.S. dollar against major currencies will depress the value of sales in other countries.
Itron Inc. (ITRI) rose 8.6 percent, the most since May 2009, to $62.86. The largest U.S. maker of utility meters reported record second-quarter sales and increased its 12-month order backlog. Itron’s backlog of projects for the next 12 months reached a record $1 billion, up 55 percent from a year earlier.
Kellogg Co. (K) fell 6.9 percent, the most since November 2008, to $47.98. The largest U.S. maker of breakfast cereal reduced its profit forecast for the year after recalling products such as Froot Loops and Apple Jacks last month.
LSI Corp. (LSI US) fell the most in the S&P 500, sinking 14 percent to $4.08. The maker of chips used in computer disk drives forecast third-quarter revenue that missed analysts’ estimates.
Newport Corp. (NEWP) gained 18 percent, the most since April 2001, to $12.75. The maker of laser and optical equipment for aerospace companies forecast profit for the year of 80 to 90 cents a share. Analysts estimated 65 cents on average in a Bloomberg survey.
Nvidia Corp. (NVDA) fell 9.9 percent, the most since May 14, to $9.13. The second-largest maker of graphics chips lowered its second-quarter sales forecast because of slumping demand in Europe and China.
Oceaneering International Inc. (OII) advanced 8 percent, the most since Jun 2, to $50.96. The provider of engineered services and products to the offshore oil and gas industry raised its forecast for profit this year to a range of $3.20 to $3.40 a share. The average analyst estimate was $3, according to data compiled by Bloomberg.
Owens-Illinois Inc. (OI) declined 10 percent, the most since March 2009, to $26.75. The world’s largest maker of glass containers said that, excluding some items, it earned 90 cents a share in the second quarter. That’s short of the average analyst estimate by 1 cent.
QEP Resources Inc. (QEP) rose 5.1 percent to $32.50, the biggest gain since its spinoff from Questar Corp. last month. The oil and gas exploration company was rated “overweight” in new coverage at Barclays Capital Inc.
Symantec Corp. (SYMC) fell 11 percent, the most since July 2009, to $13.03. The world’s largest maker of computer security software forecast second-quarter sales and profit that missed analysts’ estimates, citing weakness in the euro and “cautiousness” among customers.
Teradyne Inc. (TER) rose 8.4 percent to $11.07 for the biggest gain since June 15. The maker of testing equipment for electronics forecast third quarter profit of 75 to 83 cents a share, excluding some items, compared with the 46 cent average analyst estimate in a Bloomberg survey.
VistaPrint Ltd. (VPRT) plunged 36 percent to $31.99 for the biggest retreat in the Russell 1000 Index. The online provider of printing services projected profit excluding some items of 32 cents a share at most in the fiscal first quarter. That missed the average analyst estimate of 46 cents in a Bloomberg survey.
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