AK Steel, Brookdale, FalconStor, Logitech: 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.
Akamai Technologies Inc. (AKAM US) fell 4.8 percent, the most since Oct. 6, to $51.56. The maker of technology that speeds Internet traffic retreated after a report on Seeking Alpha that it will no longer be the primary content-delivery network for Netflix Inc. (NFLX US). Netflix Inc. said it is satisfied with Akamai’s performance, refuting the report. Netflix plans to shift business to Limelight Networks Inc. (LLNW US) and Level 3 Communications Inc. (LVLT US), Dan Rayburn, an analyst at Frost & Sullivan, said on the financial blog.
Limelight rallied 17 percent to $7.74. Level 3 climbed 19 percent to $1.05.
AK Steel Holding Corp. (AKS US) slipped 5.2 percent to $13.24 for its biggest decline since Sept. 15. The third-largest U.S. steelmaker was cut to “neutral” from “buy” at Goldman Sachs Group Inc.
American Public Education Inc. (APEI US) rose 22 percent, the most since November 2007, to $33.11. The operator of the American Military University reported third-quarter earnings that topped analysts’ average estimate.
Atlas Energy Inc. (ATLS US) jumped 34 percent to $42.50 for the biggest gain in the Russell 1000 Index. The natural gas producer agreed to be bought by Chevron Corp. (CVX US) for $3.2 billion.
Other gas producers also gained. Range Resources Corp. (RRC US) rose 4.6 percent to $42.59. Cabot Oil & Gas Corp. (COG US) climbed 4 percent to $33.84. EQT Corp. (EQT US) gained 5.1 percent to $40.51. Consol Energy Inc. (CNX US) added 2.1 percent to $41.45.
Atlas Pipeline Holdings LP (AHD US) said it will buy oil and gas assets from Atlas Energy for $30 million in cash and $220 million in newly issued units. After the transaction, Atlas Energy will no longer control the partnership. Atlas Pipeline surged 24 percent to $12.02.
Atlas Energy will buy a 49 percent stake in Laurel Mountain Midstream LLC, a pipeline system in western Pennsylvania, for $403 million in cash from another affiliate, Atlas Pipeline Partners LP (APL US). Atlas Pipeline Partners added 18 percent to $23.46.
BroadSoft Inc. (BSFT US) rose the most in Russell 2000 Index, surging 43 percent to $14.11. The maker of software enabling businesses to use voice services over the Internet reported third-quarter earnings excluding some items of 8 cents a share. Analysts, on average, estimated a loss of 7 cents, according to a Bloomberg survey.
Brookdale Senior Living Inc. (BKD US) declined 4.5 percent to $19.15 for the biggest loss since Aug. 11. The operator of assisted-living homes for seniors said Fortress Investment Group LLC affiliates sold 13 million shares at $18.76 apiece.
Darling International Inc. (DAR US) advanced 12 percent, the most since April 2009, to $11.53. The meat and bone meal processor said its board has approved plans to acquire Griffin Industries Inc. for a combination of cash and stock valued at about $840 million.
Dean Foods Co. (DF US) plunged 18 percent to $8.50 for the biggest retreat in the Standard & Poor’s 500 Index. The distributor of dairy products reported third-quarter profit that fell short of the average analyst estimate in a Bloomberg survey and said its chief financial officer resigned to accept a similar position at another company.
Emdeon Inc. (EM US) fell the most since it went public in August 2009, sliding 9.2 percent to $12.70. The provider of health-care revenue and payment cycle management solutions posted third-quarter net income that missed analysts’ estimates.
EnerNOC Inc. (ENOC US) tumbled 15 percent, the most since December 2008, to $26. The provider of a service to help reduce electricity demand forecast a fourth-quarter loss of at least 62 cents a share, versus the 56-cent estimated loss.
FalconStor Software Inc. (FALC US) jumped 15 percent, the most since March 2009, to $2.74. The Melville, New York-based maker of data-protection software said it entered a management services and reseller agreement with Hewlett-Packard Co. (HPQ US)
Fossil Inc. (FOSL US) jumped 6.1 percent to $67.85, the highest price since it went public in April 1993. The Texas- based maker of watches and jewelry reported third-quarter sales and profit that topped the average analyst estimates in a Bloomberg survey, and increased its forecast for fourth-quarter profit.
Genomic Health Inc. (GHDX US) surged 21 percent to $18.07 for the biggest gain since January 2006. The maker of a genetic test to predict breast-cancer relapse posted third-quarter earnings of 12 cents a share on an adjusted basis, which beat the average estimate of less than 1 cent.
Golden Star Resources Ltd. (GSS US) fell 18 percent, yhr most since December 2008, to $4.91. The gold mining company posted a third-quarter loss excluding some items of 1 cent a share. Analysts, on average, expected the company to earn 4 cents a share, Bloomberg data showed. BMO Capital Markets cut the stock’s rating to “market perform” from “outperform.”
K12 Inc. (LRN US) dropped 12 percent, the most since September 2009, to $24.91. The technology-based education company posted first-quarter profit excluding some items of 18 cents a share, missing the average analyst estimate by 39 percent, according to Bloomberg data.
LDK Solar Co. (LDK US) added 3 percent to $13.90, the highest price since June 2009. The Chinese manufacturer of wafers for use in solar-power cells predicted fourth-quarter sales of at least $710 million, beating the average estimate of $597.4 million from analysts in a Bloomberg survey.
Logitech International SA (LOGI US) rallied 12 percent, the most since November 2008, to $21.89. The world’s largest maker of computer mice raised its long-term guidance at an analyst and investor presentation in New York, according to Zuercher Kantonal Bank analyst Andreas Mueller. Logitech didn’t change its guidance for fiscal 2011, company spokeswoman Nancy Morrison wrote in an e-mailed response to questions from Bloomberg News.
McDermott International Inc. (MDR US) rose 7.3 percent, the most since December 2009, to $17.13. The offshore oil and gas contractor posted third-quarter adjusted earnings of 33 cents, beating the 28-cent average analyst estimate.
Merge Healthcare Inc. (MRGE US) soared 24 percent, the most since May 2009, to $3.88. The medical software maker reported third-quarter sales that topped analysts’ estimates and said it hired Jeff A. Surges, Allscripts Healthcare Solutions Inc’s president of sales, as chief executive officer.
Metabolix Inc. (MBLX US) sank 20 percent to $11.05 for the second-biggest retreat in Russell 2000 Index. The maker of biodegradable plastic and chemicals reported a bigger-than- estimated loss in the third quarter. Piper Jaffray Cos. and Rafferty Capital Markets cut the stock’s ratings, advising investors to sell the shares.
Pinnacle Airlines Corp. (PNCL US) rose 14 percent, the most since August 2009, to $6.44. The Memphis, Tennessee-based carrier reported third-quarter earnings of 51 cents a share, beating the average estimate of 41 cents compiled in a Bloomberg survey of five analysts.
Priceline.com Inc. (PCLN US) jumped the most in the S&P 500, climbing 8.3 percent to $420.65. The second-biggest online travel agency forecast fourth-quarter profit that topped analysts’ estimates.
SciClone Pharmaceuticals Inc. (SCLN US) rose 2.7 percent to $3.75, the highest price since May 18. The cancer- and hepatitis-drug maker boosted its full-year earnings forecast to a range of 41 cents to 46 cents a share from a previous forecast range of 31 cents to 35 cents a share.
Technitrol Inc. (TNL US) dropped 21 percent, the most since February 2009, to $4.09. The Trevose, Pennsylvania-based maker of electronic components forecast fourth-quarter sales of $95 million at most, trailing the average analyst estimate of $116 million. Needham & Co. reduced the stock to “hold” from “buy.”
Yahoo! Inc. (YHOO US) rose 3.2 percent to $16.97, the highest price since April 29. KKR & Co. joined the list of leveraged-buyout firms interested in taking Yahoo! Inc. private or helping finance a transaction, the New York Post said, citing unidentified people. The shares pared gains as the Wall Street Journal cited a person close to the company saying it hadn’t been approached by any private equity groups.
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