Bank of America, MannKind, New York Times: 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.
Amdocs Ltd. (DOX) had the biggest decline in the Russell 1000 Index, sliding 8.7 percent to $27.38. The provider of billing and customer-service software forecast first-quarter profit excluding some items of 58 cents a share at most, trailing the 60-cent average estimate from analysts in a Bloomberg survey.
Apollo Group Inc. (APOL) had the biggest loss in the Standard & Poor’s 500 Index, falling 8 percent to $35.38. The biggest education company by enrollment said the U.S. Department of Education will review the administration of federal financial aid at the company’s University of Phoenix.
Other for-profit schools also declined as UBS AG cut recommendations for Corinthian Colleges Inc. (COCO) and Washington Post Co. (WPO US), owner of the Kaplan for-profit education business.
Corinthian sank 12 percent to $3.97. Washington Post slipped 0.9 percent to $383.90. DeVry Inc. (DV) lost 2.7 percent to $46.58.
Axcelis Technologies Inc. (ACLS) rose 20 percent, the most since November 2009, to $2.56. The supplier of chip-making equipment said it will report its first quarterly profit since 2007 in the final three months of the year.
Bank of America Corp. (BAC US) gained 5.3 percent to $12.13 for its biggest increase since Sept. 1. The largest U.S. bank by assets won’t need to sell common shares to boost capital as it works through demands from mortgage investors to repurchase loans that may have been poorly underwritten, Chief Executive Officer Brian T. Moynihan said.
Big Lots Inc. (BIG) had the second-biggest decline in the S&P 500, sinking 6.8 percent to $29.26. The seller of overstocked items said its sales at stores open at least one year increased 0.7 percent during the third quarter. JPMorgan Chase & Co. cut the stock’s rating to “underweight” from “neutral,” saying the sales were “disappointing.
Denbury Resources Inc. (DNR) gained 6.9 percent to $18.65, the highest price since May 3. The Plano, Texas-based oil and natural-gas producer reported third-quarter sales of $466.7 million, topping average analyst estimate by 4.9 percent, according to Bloomberg data.
Education Management Corp. (EDMC) rallied 11 percent, the most since Sept. 30, to $13.03. The for-profit college 38 percent owned by Goldman Sachs Group Inc. (GS US), reported first-quarter profit that beat analysts’ estimates as total enrollment increased.
Gap Inc. (GPS) rose 6.1 percent, the most since May 10, to $20.43. The San Francisco-based operator of more than 3,000 clothing stores forecast 2011 third-quarter earnings of at least 47 cents a share, excluding some items. The average estimate of 23 analysts was 44 cents a share.
General Cable Corp. (BGC) had the second-biggest gain in the Russell 1000 Index, surging 14 percent to $32.05. The Highland Heights, Kentucky-based cable maker posted third-quarter profit excluding some items of 54 cents a share, beating the average analyst estimate by 8.4 percent, according to Bloomberg data.
Given Imaging Ltd. (GIVN US) slid 12 percent, the most since November 2008, to $15.51. The maker of capsule-sized camera for diagnosing digestive ailments reported a 74 percent decline in third-quarter profit and cut its 2010 forecast.
Global Cash Access Holdings Inc. (GCA) fell 23 percent to $2.90, the lowest price since March 2009. The operator of cash machines in casinos cut its forecast for full-year cash earnings to between 53 cents and 56 cents a share, down from 69 cents to 72 cents a share.
Limited Brands Inc. (LTD US) advanced 5.3 percent to $31.43, the highest price since November 2006. The clothing retailer said third-quarter profit was as much as 17 cents a share, beating the average analyst estimate of 11 cents.
Lionbridge Technologies Inc. (LIOX) slid 24 percent to $3.80 for the biggest retreat in the Russell 2000 Index. The provider of translation services and software forecast fourth-quarter sales of $102 million at most, trailing the average estimate of $107.8 million from analysts in a Bloomberg survey.
Lumber Liquidators Holdings Inc. (LL) fell 14 percent, the most since December 2008, to $21.51. The discount seller of hardwood flooring forecast profit excluding some items of 27 cents a share at most this quarter. Analysts, on average, estimated 30 cents, according to a Bloomberg survey.
MannKind Corp. (MNKD) dropped 11 percent, the most since March 15, to $5.51. A former company executive said in a lawsuit that the Valencia, California-based biotechnology company founded by billionaire Alfred Mann engaged in unlawful conduct in clinical trials. The executive’s allegations are “without merit” and MannKind intends to “defend against them vigorously,” the company said in an Oct. 29 regulatory filing.
MasTec Inc. (MTZ) rose 16 percent, the most since July 2008, to $14.33. The contractor increased its 2010 earnings forecast, projecting 99 cents a share. That topped the average estimate of 94 cents from analysts in a Bloomberg survey.
Monolithic Power Systems Inc. (MPWR) fell 8.6 percent, the most since March 2009, to $15.40. The maker of chips for liquid crystal display screens said fourth-quarter sales will be no more than $50 million, below the $60 million projected by analysts.
New York & Co. (NWY) rose 14 percent, the most since June 10, to $3.70. The women’s clothing retailer said it earned at least 1 cent a share in the third quarter, including earnings of about 6 cents “related to certain non-operating adjustments.” Analysts, on average, estimated a loss excluding some items, of 20 cents a share, according to a Bloomberg survey.
New York Times Co. (NYT) gained 8.3 percent, the most since June 10, to $8.63. The newspaper publisher said it has closed its offering of $225 million worth of 6.625 percent notes due in 2016 and plans to use proceeds to pay debt.
Polypore International Inc. (PPO) fell 10 percent, the most since April 2009, to $32.74. The maker of components used in electric-car batteries beat the average profit estimate by 0.4 percent, the worst performance since missing projections in the first quarter of 2009.
Qualcomm Inc. (QCOM) rose 5.8 percent, the most since July 22, to $48.34. The biggest maker of mobile-phone chips forecast fiscal first-quarter profit and sales that topped analysts’ estimates as demand for smartphones increases.
RealPage Inc. (RP) climbed 10 percent to $26.91, the highest price since it went public in August. The provider of rental-property management software forecast 2010 earnings excluding some items of 19 cents a share at least, topping the 18-cent average analyst estimate in a Bloomberg survey.
SodaStream International Ltd. (SODA) rose 24 percent to $30. The producer of soda makers surged for a second day after raising $109 million in its U.S. initial public offering.
Solera Holdings Inc. (SLH) rose 7.3 percent to $51.24, the highest intraday price since it went public in May 2007. The maker of claims-processing software for automobile insurers boosted its forecast for fiscal 2011, saying it expects to earn at least $2.27 a share excluding some items. That exceeded the average estimate of $2.23 from analysts in a Bloomberg survey.
Tesla Motors Inc. (TSLA) surged 14 percent to $24.90, the highest price since its IPO in June. Panasonic Corp. (6752 JP), the largest maker of rechargeable batteries, bought a $30 million stake in the U.S. electric carmaker.
Time Warner Cable Inc. (TWC) gained 4.5 percent to $62.33, the highest price since January 2009. The cable operator reported third-quarter profit excluding some items of $1.04 a share, beating the average analyst estimate of 90 cents, and announced a $4 billion stock buyback.
True Religion Apparel Inc. (TRLG US) declined 7 percent, the most since Aug. 4, to $18.73. The seller of jeans cut its full-year earnings forecast to no more than $1.78 a share from a previous estimate of at least $1.88 a share.
ValueClick Inc. (VCLK US) rose 8.6 percent to $15.44, the highest price since June 2008. The Internet advertising company forecast adjusted earnings in the fourth quarter will be at least 27 cents a share, higher than the 25-cent average estimate made by analysts.
Whole Foods Market Inc. (WFM) surged 15 percent to $47.27 for the biggest advance in the S&P 500. The largest U.S. natural-goods grocer raised its 2011 profit forecast to a range of $1.66 to $1.71 a share, compared with an earlier estimate of no more than $1.64.
Zumiez Inc. (ZUMZ) gained 14 percent to $28.76, the highest price since December 2007. The specialty sports-apparel retailer raised its forecast for third-quarter earnings to at least 36 cents a share from a previous projection of no more than 30 cents a share.
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