Domino's, Harley-Davidson, SuperValu, Urban Outfitters: 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.
Makers of fiber-optic equipment declined after Infinera Corp. (INFN US) forecast lower-than-expected fourth-quarter profit and said its executive chairman is resigning. Infinera, maker of high-speed computer networking equipment, dropped 36 percent to $7.95. Excluding some items, the company expects to earn 5 cents a share at most in the fourth quarter, compared with an average analyst estimate of 9 cents. The company was cut to “hold” from “buy” at Stifel Nicolaus & Co. and Soleil Securities Corp.
Abercrombie & Fitch Co. (ANF US) fell 5.2 percent, the most since Aug. 17 to $43.25. The teen clothing retailer was cut to “sell” from “hold” at Brean Murray Carret & Co. by equity analyst Eric Beder.
Apple Inc. (AAPL US) slipped 2.7 percent to $309.49, its first decline in 11 days. The maker of the iPad and iPod forecast profit of about $4.80 a share for the current quarter, which includes the year-end holiday shopping season, less than the $5.03 predicted by analysts as supply constraints hamper sales of the iPad.
Bank of America Corp. (BAC US) fell 4.4 percent to $11.80, the biggest decline in the Dow Jones Industrial Average. Pacific Investment Management Co., BlackRock Inc. and the Federal Reserve Bank of New York are seeking to force the largest U.S. bank by assets to repurchase soured mortgages packaged into $47 billion of bonds by its Countrywide Financial Corp. unit, people familiar with the matter said.
BlueLinx Holdings Inc. (BXC US) plunged 20 percent, the most since May 2009, to $3.15. Cerberus ABP Investor LLC, owner of a 55 percent majority stake in the building-products distributor, announced the termination of its offer of $4 a share for all of the outstanding publicly held shares of BlueLinx.
Capital One Financial Corp. (COF US) rose 4.1 percent to $38.87 for the biggest gain since Oct. 5. The most profitable U.S. credit-card issuer last year said third-quarter profit more than doubled to $1.76 a share. The average estimate of analysts was $1.20, according to a Bloomberg survey.
Coldwater Creek Inc. (CWTR US) slid 35 percent, the most since February 2001, to $3.47. The women’s clothing retailer cut its forecast, saying it now expects a loss of at least 14 cents a share in the third quarter. The company had previously projected profit of as much as 4 cents.
Domino’s Pizza Inc. (DPZ US) advanced 6.3 percent, the most since July 22, to $15.55. The world’s largest pizza delivery chain posted third-quarter earnings of 27 cents a share excluding some items, exceeding the average analyst estimate of 25 cents a share as an improved recipe and new advertising campaign boosted sales.
Goldman Sachs Group Inc. (GS US) rose 2 percent to $156.72, the highest price since April 29. The biggest securities firm by revenue reported third-quarter profit excluding some items of $2.98 a share, beating the average analyst estimate of $2.29 a share, according to Bloomberg data.
Hanger Orthopedic Group Inc. (HGR US) advanced 9.6 percent, the most since Feb. 11, to $18.19. The operator of orthotic and prosthetic patient-care centers plans to sell $200 million of eight-year debt, the proceeds of which may be used to repay its 10.25 percent notes due in 2014. The company also had its credit rating raised one level to BB- from B+ at Standard & Poor’s.
Harley-Davidson Inc. (HOG US) declined 6.8 percent, the most since Jan. 22, to $30.30. The biggest U.S. motorcycle maker said it expects its fourth-quarter gross margin to narrow. Third-quarter sales fell 1.9 percent and missed analyst estimates.
Illinois Tool Works Inc. (ITW US) slipped 5.5 percent, the most since March 2009, to $46.48. The maker of Hobart food mixers and Duo-Fast nail guns was cut to “hold” from “buy” at Deutsche Bank AG after reporting third-quarter results. Nigel Coe, the analyst, cited weak margins in the company’s transport and construction segments.
International Business Machines Corp. (IBM US) fell 3.4 percent, the most since May 20, to $138.03. The world’s largest computer-services provider posted its third straight quarterly drop in new contracts.
Massey Energy Co. (MEE US) rose 5 percent to $37.33, the highest price since May 13. The coal miner is seeking “strategic alternatives, including a possible sale,” the Wall Street Journal reported, citing unidentified people.
OncoGenex Pharmaceuticals Inc. (OGXI US) slid 13 percent, the most since Dec. 21, to $16.36. The Bothell, Washington-based drugmaker said it’s selling shares and warrants to raise money for product development.
Parker Hannifin Corp. (PH US) rose 3.7 percent to $75.08, the highest price since June 2008. The maker of valves and pumps used in factory equipment topped analyst estimates for first- quarter profit and raised its forecast for full-year earnings from continuing operations to a range of $5.20 to $5.80 from an August projection of at most $4.40.
SuperValu Inc. (SVU US) slid 15 percent to $10.55 for the biggest drop in the S&P 500 Index. The Minnesota-based grocer lowered its earnings forecast for 2011, saying improvements will take longer than originally planned. Profit excluding some items will be at least $1.40 a share, the company said. The previous forecast was at least $1.75. The average estimate of analysts surveyed by Bloomberg was $1.66.
Twin Disc Inc. (TWIN US) advanced 7 percent to $18.08, the highest price since September 2008. The maker of transmissions for boats and heavy equipment reported fiscal first-quarter earnings of 24 cents a share, more than the average of two analyst forecasts.
Urban Outfitters Inc. (URBN US) fell 6.1 percent to $29.28, the lowest price since October 2009. The clothing and housewares retailer may see a near-term pause in operating margin expansion, Janney Montgomery Scott LLC said in a report.
VMware Inc. (VMW US) fell 6.7 percent to $73.12, the lowest price since July 20. The biggest maker of programs that let computers run multiple operating systems said bookings for the quarter were $746.7 million. That missed the $771 million Wall Street consensus, according to ISI Group Inc. analyst Heather Bellini.
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