D.R. Horton, King Pharmaceuticals, Tyson: 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.
Homebuilders advanced as Deutsche Bank AG upgraded D.R. Horton Inc. (DHI US), saying the housing market “is finally near the point from which it can sustainably recover” after slumping five years. The brokerage also raised the ratings for Meritage Homes Corp. (MTH US) and Ryland Group Inc. (RYL US)
D.R. Horton gained 4.3 percent to $11.06. Meritage climbed 6.8 percent to $18.35. Ryland added 7.8 percent to $17.68. KB Home (KBH US) increased 6.5 percent to $12. Lennar Corp. (LEN US) rose 2.9 percent to $14.80.
American Dairy Inc. (ADY US) fell 23 percent to $9.93, the lowest price since March 2009. The Beijing-based producer of infant formula and milk powder reported a loss excluding some items of 92 cents a share in the second quarter, missing the average analyst estimate for profit of 18 cents, according to Bloomberg data.
Broadwind Energy Inc. (BWEN US) slumped 12 percent, the most since May 25, to $2.50. The maker of wind towers said sales will be as low as $140 million this year, compared with the average analyst estimate of $190 million, according to a Bloomberg survey.
China Automotive Systems Inc. (CAAS US) fell 9.7 percent, the most since May 20, to $18.70. The maker of steering components for cars reported second-quarter profit of 28 cents a share, in line with the average analyst estimate in a Bloomberg survey.
China Electric Motor Inc. (CELM US) climbed 6.2 percent to $5.18, after advancing as much as 11 percent, the most intraday since July 9. The maker of micro-motors said second-quarter profit rose to 20 cents a share from 17 cents a year earlier.
Curis Inc. (CRIS US) fell 13 percent, the most since June 16, to $1.55. The drugmaker said Roche Holding AG (RHHBY US) is deciding whether to proceed with development of Curis’s experimental treatment for ovarian cancer.
DigitalGlobe Inc. (DGI US) rose 13 percent to $31.44 and GeoEye Inc. (GEOY US) gained 23 percent to $39.50. The providers of satellite imagery won contracts for $3.5 billion and $3.8 billion respectively from the U.S. National Geospatial- Intelligence Agency for its EnhancedView commercial imagery program.
Dish Network Corp. (DISH US) fell the most in the Russell 1000 Index, slipping 10 percent to $18.72. The second-largest U.S. satellite-television provider unexpectedly lost subscribers last quarter.
Hewlett-Packard Co. (HPQ US) slumped 8 percent to $42.60 for the biggest retreat in the Dow Jones Industrial Average. The world’s largest maker of personal computers said Mark Hurd resigned as chief executive officer following an investigation into a sexual-harassment claim that found violations of the company’s standards of business conduct. Chief Financial Officer Cathie Lesjak will take over as CEO on an interim basis.
King Pharmaceuticals Inc. (KG US) had the second-biggest gain in the Standard & Poor’s 500 Index, rising 4.4 percent to $9.18. The drugmaker reported second-quarter earnings excluding some items of 17 cents a share, beating the average analyst estimate in a Bloomberg survey by 4.9 percent.
McDonald’s Corp. (MCD US) had the second-biggest gain in the Dow, rising 1.6 percent to $72.92. The world’s largest restaurant company said July global comparable-store sales rose 7 percent. Analysts surveyed by Bloomberg had estimated an increase of 5.1 percent on average.
Medical Action Industries Inc. (MDCI US) dropped 23 percent, the biggest decline since September 1993, to $10.41. The maker of disposable sponges, towels and dressings for surgery posted first-quarter earnings excluding some items of 8 cents a share, trailing the average analyst estimate by 65 percent, according to Bloomberg data.
Skilled Healthcare Group Inc. (SKH US) surged 23 percent to $3.07 for the biggest gain in the Russell 2000 Index. The nursing and assisted-living home operator was raised to “buy” from “hold” at Jefferies & Co. Inc.
Superior Well Services Inc. (SWSI US) jumped 21 percent to $22.08, the highest price since October 2008. The oilfield services company posted second-quarter profit of 18 cents a share excluding some items when analysts were expecting an average loss of 10 cents, according to data compiled by Bloomberg.
Synutra International Inc. (SYUT US) had the biggest decline in Russell 2000 Index, losing 27 percent to $12.72. The Chinese maker of baby formula denied a newspaper report that its products may cause premature development in infants.
Tyson Foods Inc. (TSN US) had the second-biggest decline in the S&P 500, losing 4.9 percent to $16.30. Shares of the largest U.S. meat processor should be sold, according to Goldman Sachs Group Inc., which cited a projected oversupply of chicken.