Alpha, AMR, Electronic Arts, Lincoln, MGM: 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.
Alpha Natural Resources Inc. (ANR) fell 3.9 percent to $43.96, the lowest price since Oct. 7. The third-largest U.S. coal producer reported third-quarter profit that missed analyst estimates on higher mining costs.
AMR Corp. (AMR US) rallied 6.6 percent to $8.37, the highest price since June 18. American Airlines parent company is a “top pick” among U.S. carriers, Jamie Baker, a JPMorgan Chase & Co. analyst said, adding the company will “turn a significant margin corner” in 2011.
AsiaInfo-Linkage Inc. (ASIA US) slipped 10 percent, the most since July 29, to $20.53. The Chinese supplier of software for phone companies forecast fourth-quarter sales of $123 million at most. That’s lower than the average estimate of $126.8 million from analysts in a Bloomberg survey.
BlackRock Inc. (BLK) fell 4.3 percent, the most since June 29, to $165.66. The world’s largest asset-management firm said Bank of America Corp. and PNC Financial Services Group Inc., two of its biggest shareholders, plan to sell 42 million shares.
Cadence Pharmaceuticals Inc. (CADX US) slumped 13 percent, the most since December 2008, to $7.80. The San Diego-based company may see lower demand for Ofirmev, the first intravenous form of the pain medicine acetaminophen, because data shows the drug works only a few hours beyond surgery, Ladenburg Thalmann said, cutting the stock’s rating to “sell” from “neutral.”
Casey’s General Stores Inc. (CASY) declined 5.1 percent, the most since July 2009, to $39.34. The Iowa-based operator of convenience stores in the U.S. Midwest said discussions with 7-Eleven Inc. about a possible transaction have collapsed.
Con-way Inc. (CNW) gained 6.8 percent, the most since July 7, to $35.31. The trucking company’s third-quarter results, while trailing analysts’ estimates, showed improving fundamentals and may force investors who had bet against the stock to buy back the shares, Deutsche Bank AG said.
Dolan Media Co. (DM US) advanced 12 percent, the most since May 6, to $12.40. The business-information company boosted its full-year sales forecast after third-quarter revenue beat analysts’ estimates.
DSW Inc. (DSW) rose 3.6 percent to $34.79, the highest price since July 2007. The footwear retailer raised its earnings forecast for the current fiscal year to a range of $2.20 to $2.30 a share on an adjusted basis. Analysts estimated $2 a share on average.
Electronic Arts Inc. (EA) fell 4.3 percent to $15.50 for the biggest decline since Oct. 12. The second-largest U.S. video-game publisher forecast profit this quarter below analysts’ estimates after moving the release date of a title.
EOG Resources Inc. (EOG) had the second biggest decline in the Standard & Poor’s 500 Index, slumping 9.3 percent to $88.64. The crude oil and natural gas company lowered production growth estimates for 2010, 2011 and 2012, Jeff Dietert, an analyst at Simmons & Co. in Houston, said in a report.
Ford Motor Co. (F) climbed 5.2 percent to $15.18, the highest price since July 2004. The world’s most profitable automaker and General Motors Co. reported U.S. sales increases that topped analysts’ estimates and said October was the best month this year as consumers returned to showrooms.
Fushi Copperweld Inc. (FSIN US) rallied 16 percent, the most since May 2010, to $10.54. The Chinese maker of copper-clad aluminum and steel wire said Chairman and Chief Executive Officer Li Fu and Abax Global Capital (Hong Kong) Ltd. offered to buy out the company for $11.50 a share.
Garmin Ltd. (GRMN) dropped 5.3 percent, the most since Aug. 11, to $31.26. The maker of portable navigation devices reduced its full-year forecast, saying it expects to earn $2.90 a share at most, excluding some items. Analysts, on average, estimated $2.98.
Hartford Financial Services Group Inc. (HIG) rose the most in the S&P 500, climbing 9.2 percent to $25.57. The insurer boosted its profit estimate for this year after posting its fourth straight quarterly profit on investment gains.
Innophos Holdings Inc. (IPHS) dropped 13 percent, the most since May 2009, to $32.72. The maker of fertilizers and phosphate salts posted third-quarter profit excluding some items of 43 cents a share, missing the average analyst estimate by 48 percent, according to Bloomberg data.
Lincoln Educational Services Corp. (LINC) rallied 17 percent, the most since May 2009, to $14.52. The for-profit college with 43 campuses and 32,000 students initiated a dividend and reporting profit that beat analysts’ estimates.
Lincoln National Corp. (LNC) fell 2.7 percent to $24.30 for its biggest decline since Sept. 23. The insurer that paid back U.S. Treasury Department bailout funds in June posted profit that missed analysts’ estimates on costs tied to lower interest rates.
MGM Resorts International (MGM) climbed 10 percent to $12.31 for its biggest gain since Oct. 8. The biggest casino operator on the Las Vegas Strip reported a third-quarter loss that was in line with preliminary earnings. The company also said the CityCenter refinancing may be done this year and Aria should be profitable this quarter.
OpenTable Inc. (OPEN US) jumped 11 percent, the most since Feb. 10, to $68.02. The online restaurant-reservation service reported third-quarter earnings of 23 cents a share on an adjusted basis, beating the 15-cent average analyst estimate. Revenue was $24.5 million, higher than the $23.2 million estimated by analysts.
Pulte Group Inc. (PHM) dropped 7.7 percent to $7.45, the lowest price since November 2008. The largest U.S. homebuilder by revenue reported a wider third-quarter loss as the company recorded almost $1 billion in impairments and other charges amid slumping home sales.
Pride International Inc. (PFE) increased 4 percent to $32.26, the highest price since April 26. The drilling contractor is considering a possible sale of the company, the Wall Street Journal reported, citing unidentified people.
Quanta Services Inc. (PWR) had the biggest retreat in the S&P 500, sliding 10 percent to $17.94. The provider of utility network infrastructure forecast fourth-quarter earnings excluding some items of 25 cents a share at most. That trails the average estimate of 32 cents from analysts in a Bloomberg survey.
RealD Inc. (RLD) surged 21 percent to $26.96 for the second biggest advance in the Russell 2000 Index. The maker of 3-D movie projectors used to show James Cameron’s “Avatar” had its share-price estimate increased to $28 from $24.50 at JPMorgan Chase & Co., which said the company’s second-quarter sales and earnings beat its expectations.
SM Energy Co. (SM) rose 7 percent, the most since June 2, to $45.35. The Denver, Colorado-based oil producer posted quarterly earnings that beat the average analyst estimate by 74 percent, according to Bloomberg data.
SodaStream International Ltd. (SODA) climbed 21 percent to $24.12 on the first day of trading. The producer of soda makers raised $109 million in its U.S. initial public offering.
Sonus Networks Inc. (SONS) fell 17 percent, the most since November 2005, to $2.65. The maker of voice infrastructure products forecast full-year revenue of $225 million to $245 million, compared with the average analyst estimate of $244.2 million.
SPX Corp. (SPW) fell 6.7 percent, the most since October 2008, to $64.08. The maker of power-plant cooling systems and pumps used by oil producers forecast 2010 earnings of no more than $3.60 a share, missing the $3.62 average of analyst estimates.
Stec Inc. (STEC US) gained 8.8 percent to $16.67, the highest price since Jan. 21. The maker of flash-memory drives forecast fourth-quarter earnings excluding some items of 31 cents a share at least. That exceeded the 25-cent average estimate from analysts in a Bloomberg survey.
Synchronoss Technologies Inc. (SNCR) rose 17 percent, the most since October 2008, to $26.24. The developer of transactional software posted third-quarter profit excluding some items of 20 cents a share, beating the average analyst estimate by 19 percent, according to Bloomberg data.
Taseko Mines Ltd. (TKO) slid 24 percent, the most since at least 1992, to $4.91. The copper producer’s plans for its Prosperity mine in British Columbia were derailed by Canadian Environment Minister Jim Prentice, who told reporters the mine cannot proceed. Some environmental and indigenous groups oppose the project.
TRW Automotive Holdings Corp. (TRW) rose 1.6 percent to $47.76, the highest price since it went public in February 2004. The world’s biggest supplier of vehicle-safety equipment said third-quarter profit more than tripled after it lowered costs and boosted sales.
Web.com Group Inc. (WWWW) gained 8.4 percent to $6.75, the highest price since Jan. 19. The company that builds Web sites for small businesses said that, excluding some items, it earned 20 cents a share in the third quarter, beating its own forecast.
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