Brush, Celgene, JDS, Red Hat, Wal-Mart: 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.
Boeing Co. (BA US) rose 0.9 percent to $61.32 for the biggest advance in the Dow Jones Industrial Average. Goldman Sachs Group Inc. raised its fourth-quarter earnings estimate for the Chicago-based planemaker to $1.15 from $1.12 per share. Boeing, which is struggling with delays on the 787 Dreamliner, may improve its profit margins as volume increases and research expenses decline, Goldman said.
Brush Engineered Materials Inc. (BW US) climbed 7.6 percent, the most since July 22, to $23.39. The maker of metals used in electronics was raised to “buy” from “hold” at Keybanc Capital Markets.
Celgene Corp. (CELG US) declined 2.2 percent to $50.62, the lowest price since July 8. The maker of blood-cancer drugs said Chief Financial Officer David Gryska will leave to pursue other opportunities. Jacqualyn Fouse, most recently CFO of Bunge, will replace him Nov. 1.
Cephalon Inc. (CEPH US) lost 2 percent to $56.63, the lowest price since July 6. The Frazer, Pennsylvania-based maker of pain and sleep drugs announced Frank Baldino Jr., the company’s founder and chief executive officer, will take an immediate leave of absence for medical reasons.
Dynavox Inc. (DVOX US) declined 30 percent, the most since it went public in April, to $10.02. The seller of speech software for people with language disabilities posted fourth- quarter profit excluding some items of 16 cents a share, trailing the average analyst estimate by 1 cent.
Geokinetics Inc. (GOK US) jumped 23 percent, the most since May 2009, to $4.81. The Houston-based oil-services company said it won a contract valued in excess of $110 million from Petroleos Mexicanos.
Gerber Scientific Inc. (GRB US) rose the most since August 2009, jumping 15 percent to $5.88. The supplier of manufacturing equipment posted first-quarter profit excluding some items of 7 cents a share, beating average estimate of 2 cents from two analysts in a Bloomberg survey.
Greenbrier Cos. (GBX US) climbed 6.6 percent to $10.50, rising for a second day. The producer of railcars was raised to “buy” from “hold” at BB&T Capital Markets.
Hain Celestial Group Inc. (HAIN US) advanced 5.8 percent, the most since May 10, to $21.84. The maker of organic food and beverages said 2011 profit will be $1.24 to $1.31 a share, more than the $1.23 average of analysts surveyed by Bloomberg. Fiscal fourth-quarter earnings also beat estimates.
Heico Corp. (HEI US) climbed 15 percent, the most since 1996, to $41.76. The maker of jet engine parts boosted its 2010 forecast after third-quarter earnings topped analysts’ estimates.
JDS Uniphase Corp. (JDSU US) fell 4.7 percent to $9.74, the lowest price since July 6. The maker of fiber-optic equipment reported fourth quarter revenue of $390.9 million, missing the average analyst estimate in a Bloomberg survey of $400.2 million.
Jo-Ann Stores Inc. (JAS US) rallied 12 percent, the most since Nov. 5, to $41.14. The fabric retailer raised its fiscal- year 2011 earnings forecast to $3.20 to $3.35 a share and said it plans to open 30 new stores and close 25 during the period.
Monster Worldwide Inc. (MWW US) rose the second-most in the Standard & Poor’s 500 Index, gaining 4.7 percent to $10.70. SunTrust Robinson Humphrey advised investors to buy shares of the world’s largest online-recruiting company, citing “the increasing reliance that employers are placing on staffing companies as they shift their labor costs in favor of flexibility.”
Patterson Cos. (PDCO US) had the third-biggest drop in the S&P 500, losing 4.9 percent to $25.36. The maker of medical supplies reported sales of $849.8 million in the fiscal first quarter, trailing the average analyst estimate of $853.7 million.
Red Hat Inc. (RHT US) climbed 3.9 percent to $34.54, the highest price since April 2000. The largest seller of the Linux operating system may be chosen for an eight-year contract with the Social Security Administration worth $2 billion, displacing International Business Machines Corp., according to Jefferies Group Inc.
IBM (IBM US) slipped 2 percent to $122.78.
Rue21 Inc. (RUE US) declined 7 percent, the most since it went public in November, to $21.97. The teen retailer forecast third-quarter earnings of 25 cents to 27 cents a share, one cent less than the average estimate of five analysts surveyed by Bloomberg. The company’s fiscal-year forecast also fell short of predictions.
Wal-Mart Stores Inc. (WMT US) fell 1.1 percent to $50.97, the first decline in five days. The world’s largest retailer asked the U.S. Supreme Court to block female employees from suing on behalf of as many as 1.5 million women in what would be the largest gender-bias suit against a private employer in U.S. history.
Wesco Financial Corp. (WSC US) climbed 12 percent, the most since 1997, to $363. Berkshire Hathaway Inc. proposed buying the remaining 19.9 percent of the Pasadena, California-based insurer that it doesn’t own.