AGA Medical, Halliburton, Ista, Quicksilver: U.S. Equity Movers
Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 10 a.m. in New York.
AGA Medical Holdings Inc. (AGAM US) rallied the most in the Russell 2000 Index, surging 41 percent to $20.69. St. Jude Medical Inc. (STJ US) agreed to buy the maker of medical devices for $20.80 a share in a cash and stock transaction valued at $1.3 billion to expand its range of heart devices.
Allergan Inc. (AGN) climbed 4.2 percent to $71.75 after rising to $72.07, the highest intraday price since at least June 1989. The maker of anti-wrinkle injections said the U.S. Food and Drug Administration approved Botox for the preventive treatment of chronic migraines in adults, an action that may help almost double the drug’s yearly sales to $2.3 billion.
Citigroup Inc. (C) gained 2.9 percent to $4.07. The third-biggest U.S. bank reported a third-quarter profit of 7 cents a share, topping the average analyst estimate of 5 cents a share. The firm also reported net release of reserves of $2 billion in the third quarter.
Fluor Corp. (FLR) fell 3.5 percent to $50.05 after sinking 7.3 percent earlier, the most intraday since May 7. The largest publicly traded construction and engineering company in the U.S. lowered its full-year earnings forecast to no more than $2.50 a share, down from its previous forecast of $2.90 a share to $3.20 a share. The company said its third-quarter results include a cost of about $163 million, or 90 cents a share, for estimated cost increases on the Greater Gabbard Offshore Wind Project.
Halliburton Co. (HAL) slipped the most in the Standard & Poor’s 500 Index, falling 4 percent to $34.40, after gaining 8.5 percent in the last two weeks. The world’s second-largest oilfield-services provider said third-quarter earnings excluding some items were 58 cents a share, exceeding the average analyst estimate by 3.4 percent. The beat was the smallest since the third quarter of 2008, according to Bloomberg data.
Hasbro Inc. (HAS) increased 4.9 percent to $47.34 for the biggest advance in the S&P 500. The world’s second-largest toymaker said third-quarter earnings excluding some items were $1.09 a share, beating the average analyst estimate in a Bloomberg survey by 5 percent.
Ista Pharmaceuticals Inc. (ISTA US) jumped 9.6 percent to $4.91 after rallying to $5.17 earlier, the highest intraday price since September 2009. The company said its Bromday eye drop treatment won approval from the U.S. Food and Drug Administration.
McMoRan Exploration Co. (MMR US) fell 4.2 percent to $17.67 after erasing as much as 5.9 percent, the most intraday since Sept. 21. The company, which has been a partner in some of the largest U.S. offshore oil discoveries of the past decade, reported a third-quarter net loss of 26 cents a share, worse than the 22-cent loss forecast by analysts. Revenue fell 13.5 percent to $94.8 million, also missing analysts’ consensus estimate of $99.7 million.
Quicksilver Resources Inc. (KWK) jumped 17 percent to $14.77 for the biggest gain in the Russell 1000 Index. The Texas-based company that develops shale gas and coal-bed methane said it received an Oct. 15 letter from Quicksilver Energy LP and the Darden family seeking to explore strategic alternatives.
Supertex Inc. (SUPX US) slumped 3.9 percent to $21.56 after falling to $21.40 earlier, the lowest intraday price since March 2009. The maker of chips for telecommunications and medical instruments said sales in the second quarter will be no more than $22.5 million, lower than the average analyst estimate of $25.1 million.
Zoom Technologies Inc. (ZOOM) surged 14 percent to $4.66 after jumping 18 percent earlier, the most intraday since Sept. 21. The maker of electronic communication products for mobile phones said third-quarter net income will be a range of $3.3 million to $3.5 million, topping the previous prediction of as much as $3.3 million. Third-quarter revenue will be $68 million to $71 million, the company said, citing success in China’s mobile phone market.
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