Bebe Stores, Whole Foods, Insulet, Magna: 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.
Financial shares advanced on speculation the Federal Reserve may allow stronger banks to boost dividends. Bank of America Corp. (BAC US) rose 1.9 percent to $12.36. JPMorgan Chase & Co. (JPM US) rose 2.9 percent to $40.94. Wells Fargo & Co. (WFC US) climbed 6.4 percent to $29.22.
Activision Blizzard Inc. (ATVI US) declined 2.8 percent to $11.30 for its biggest decline since Sept. 16. The largest video-game maker forecast this quarter’s profit will be 47 cents a share excluding items, falling short of the 51-cent average of analysts’ estimates.
Amkor Technology Inc. (AMKR US) declined 8 percent, the most since October 2009, to $6.79. The provider of packaging and tests for semiconductors projected fourth-quarter earnings excluding some items of 31 cents a share at most, trailing the 35-cent average estimate from analysts in a Bloomberg survey.
Atmel Corp. (ATML US) gained 15 percent to $10.28, the highest price since April 2002. The maker of chips for household appliances reported third-quarter sales were $444.3 million, beating the $427.6 million average estimate of analysts.
Bebe Stores Inc. (BEBE US) advanced 9.7 percent, the most since Feb. 5, to $6.67. The women’s clothing retailer was raised to “buy” from “above average” at Caris & Co.
Blue Nile Inc. (NILE US) rose 6.2 percent, the most since September 2009, to $48.30. The online diamond and jewelry retailer forecast fourth-quarter revenue will be as much as $115 million, higher than the $109.6 million average estimate projected by analysts.
CEC Entertainment Inc. (CEC US) climbed 6.8 percent, the most since October 2009, to $36.80. The owner of Chuck E. Cheese’s restaurants posted third-quarter earnings excluding some items of 65 cents a share, 6.7 percent higher than the average analyst estimate, according to Bloomberg data. Morgan Joseph & Co. boosted the stock’s rating to “buy” from “hold.”
Clearwire Corp. (CLWR US) fell 3.4 percent to $6.93 for its biggest decline since Oct. 11. The company building out a high- speed WiMax wireless network will cut 15 percent of its workforce and conserve cash as it seeks new financing to cover losses that threaten its ability to operate.
Coleman Cable Inc. (CCIX US) dropped 16 percent, the most since May 2009, to $6.60. The maker of electrical wires and cables said that, excluding some items, it expects to earn 18 cents a share in the fourth quarter. That missed the 19-cent average estimate from analysts in a Bloomberg survey.
Coventry Health Care Inc. (CVH US) rose 5.9 percent, the most since April 29, to $24.87. The managed health-care company raised its full-year earnings forecast to a range of $3.52 to $3.62 a share on an adjusted basis, topping the $2.94 average analyst estimate.
Dexcom Inc. (DXCM US) slid 22 percent, the most since November 2008, to $10.85. The medical device developer posted a third-quarter loss excluding some items of 22 cents a share, 28 percent wider than the average analyst estimate, according to Bloomberg data.
Fluor Corp. (FLR US) had the second biggest gain in the Standard & Poor’s 500 Index, jumping 9.5 percent to $54.53. The construction and engineering company forecast earnings in 2011 may be as much as $3.40 a share, higher than the $3.31 average estimate projected by analysts. The Irving, Texas-based company also boosted its buyback program by 7.2 million shares.
Fresh Market Inc. (TFM US) surged 46 percent to $32.11 on its first day of trading. The Greensboro, North Carolina-based grocery chain raised $290 million in its initial public offering.
Whole Foods Market Inc. (WFMI US), the largest U.S. natural-goods grocer, which Fresh Market listed as a competitor in its regulatory filing, fell 3.8 percent to $45.49.
Insulet Corp. (PODD US) declined 10 percent, the most since April 2009, to $14.44. The insulin pump maker was cut to “accumulate” from “buy” at Global Hunter Securities LLC.
International Rectifier Corp. (IRF US) had the third- biggest gain in the Russell 1000 Index, climbing 11 percent to $27.50. The semiconductor manufacturer reported first-quarter profit excluding some items of 42 cents a share, topping the average analyst estimate by 16 percent, according to Bloomberg data.
Jazz Pharmaceuticals Inc. (JAZZ US) jumped 15 percent to $14.28, the highest price since January 2008. The drugmaker boosted its full-year forecast after third-quarter earnings beat analysts’ estimates.
Kraft Foods Inc. (KFT US) fell 2.2 percent, the most since Aug. 11, to $31.08. The world’s second-largest food company posted third-quarter sales of $11.86 billion, missing the average analyst estimate by 1.1 percent.
Magna International Inc. (MGA US) advanced 6.3 percent to $99.46, a record price. Canada’s largest auto-parts maker raised its dividend and said profit rose more than fourfold.
Multi-Fineline Electronix Inc. (MFLX US) fell 10 percent, the most since Jan. 12, to $22.68. The maker of flexible circuit boards for mobile devices predicted first-quarter sales of $245 million at most, trailing the average analyst estimate of $247 million.
NACCO Industries Inc. (NC US) declined 6.2 percent, the most since Aug. 19, to $105.39. The maker of Hamilton Beach kitchen appliances was cut to “hold” from “buy” at BB&T Capital Markets.
Red Robin Gourmet Burgers Inc. (RRGB US) slid 8 percent, the most since May 21, to $18.65. The restaurant operator suspended its full-year forecast and said sales at stores open at least one year will decrease in the fourth quarter.
Rosetta Resources Inc. (ROSE US) gained 15 percent to $29.20, the highest price since July 2008. The oil and natural gas company reported third-quarter earnings excluding some items of 17 cents a share, topping the average analyst estimate by 5.6 percent.
SandRidge Energy Inc. (SD US) declined 12 percent, the most since Aug. 5, to $5.16. The oil producer reported third-quarter sales that trailed analysts’ estimates and said Chief Financial Officer Dirk M. Van Doren will resign to pursue other interests.
Select Medical Holdings Corp. (SEM US) dropped 10 percent, the most since its initial public offering in September 2009, to $6.49. The hospital operator whose largest shareholders are buyout firms Welsh Carson Anderson & Stowe and Thoma Cressey Bravo posted quarterly earnings of 5 cents a share, missing the average analyst estimate by 63 percent. The company also forecast fourth-quarter profit would be at least 1 cent short of analyst estimates.
Starbucks Corp. (SBUX US) rose 3.8 percent to $30.87, the highest price since May 2007. The world’s largest coffee-shop operator posted adjusted earnings of 37 cents a share, exceeding the average of analysts’ estimates by 5 cents on higher foot traffic and Via instant coffee sales.
The Seattle-based company also raised its earnings forecast for fiscal 2011 to as much as $1.47 a share compared with the previous top forecast of $1.41.
TTM Technologies Inc. (TTMI US) jumped 20 percent, the most since May 2007, to $13.63. The maker of printed circuit boards forecast fourth-quarter profit excluding some items of 35 cents a share at least, beating the 31-cent average estimate from analysts in a Bloomberg survey.
Universal Electronics Inc. (UEIC US) rallied 31 percent to $27.87 for the biggest gain in the Russell 2000 Index. The maker of remote controls for TVs and other appliances boosted its 2010 earnings forecast and said it bought China’s Enson Assets Ltd. for about $110 million.
To contact the editor responsible for this story: Nick Baker at email@example.com.