Las Vegas Sands, Net 1, Noah: U.S. Equity Movers
Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 10:55 a.m. in New York.
A123 Systems Inc. (AONE US) fell 11 percent to $8.82 after sliding as much as 12 percent, the most intraday since Aug. 11. The battery maker posted a third-quarter loss excluding some items of 42 cents a share, or 41 percent wider than the average analyst estimate, Bloomberg data showed.
AgFeed Industries Inc. (FEED US) dropped 17 percent to $2.61 after erasing 21 percent earlier, the most intraday since May 6. The hog and feed producer reported a third-quarter loss of 43 cents a share and said it will write down the value of its Chinese business by $16.8 million.
Apac Customer Services Inc. (APAC US) fell the most in the Russell 2000 Index, slumping 20 percent to $5.07. The provider of call centers for customer service reported third-quarter earnings that missed analysts’ estimates and said full-year revenue will be at the lower end of its forecast of $320 million to $330 million. Robert W. Baird & Co. cut the stock’s rating to “neutral” from “outperform.”
Assurant Inc. (AIZ US) dropped the most in the Standard & Poor’s 500 Index, plunging 12 percent to $35.26. The insurer of foreclosed properties dropped after an American Banker article cited “evidence of abuses” in the industry.
BJ’s Wholesale Club Inc. (BJ US) rose 9.5 percent to $46.04 for the biggest advance in the Russell 1000 Index. The warehouse store operator is considering hiring an adviser to review options including a potential sale to a leveraged-buyout firm, the New York Post said, citing people close to the company.
Boeing Co. (BA US) fell the most in the Dow Jones Industrial Average, sinking 2.7 percent to $67.40. The emergency landing yesterday of a test flight of a 787 Dreamliner followed a fire that knocked out some of the all-electric jet’s systems, a person with knowledge of the matter said. The plane’s commercial debut, delayed six times, is scheduled to enter service around February, almost three years late.
Cerus Corp. (CERS US) had the second-biggest retreat in the Russell 2000 Index, losing 18 percent to $2.59. The company, which develops systems designed to enhance the safety of blood transfusions, said it’s selling $21 million of shares and warrants.
China Agritech Inc. (CAGC US) slid 18 percent to $12.68 after plunging 24 percent, the most intraday since April 2009. The fertilizer producer reported third-quarter sales of $23.9 million, 34 percent less than the average analyst estimate in a Bloomberg survey.
Dean Foods Co. (DF US) fell 6.9 percent to $7.91 for the second-biggest loss in the S&P 500. The distributor of dairy products was cut to “underperform” from “neutral” at Credit Suisse Group AG.
General Growth Properties Inc. (GGP US) rose 5.9 percent to $14.62 and advanced to $14.85 earlier, the highest intraday price since September 2008. The U.S. mall owner that exited bankruptcy yesterday plans to pay a regular quarterly dividend of about 10 cents a share starting next year.
Grand Canyon Education Inc. (LOPE US) fell 3 percent to $17.70 after sinking to $16.90 earlier, the lowest intraday price since Sept. 9. The owner of a for-profit online college reported a third-quarter profit of 28 cents a share, missing the 30-cent estimate of analysts surveyed by Bloomberg.
International Game Technology (IGT US) fell 2.8 percent to $15.86 after sinking 5 percent earlier for the biggest intraday decline since July 28. The maker of slot machines reported fourth-quarter profit excluding some items that fell short of the average analyst estimate in a Bloomberg survey.
Invesco Ltd. (IVZ US) fell 5.1 percent to $22.02 for the third-biggest retreat in the Standard & Poor’s 500 Index. Morgan Stanley, the sixth-largest bank by assets, said it will sell its $717 million stake in the investment management company five months after acquiring the shares in its sale of a retail asset- management business.
Jamba Inc. (JMBA US) declined 8 percent to $2.24 and slumped 12 percent earlier, the most intraday since May 7. The owner of the Jamba Juice smoothie chain said same-store sales for 2010 will be unchanged to down 3 percent from the previous year.
Kelly Services Inc. (KELYA US) rose 4.1 percent to $17.13 after climbing to $17.50 earlier, the highest intraday price since May 18. The provider of temporary employees reported third quarter profit excluding some items that exceeded the average analyst estimate in a Bloomberg survey by 70 percent.
Las Vegas Sands Corp. (LVS US) slid 5 percent to $49.53 after erasing 6.5 percent, the most intraday since June 29. The casino company was reduced to “neutral” from “buy” at UBS AG.
Maidenform Brands Inc. (MFB US) declined 13 percent to $25.17 after slumping 19 percent earlier, the most intraday since December 2008. The maker of women’s undergarments reported third-quarter sales of $145.8 million, trailing the average estimate of $147 million from analysts in a Bloomberg survey.
Medidata Solutions Inc. (MDSO US) advanced 9.2 percent to $20.94 after rising to $21.83 earlier, the highest intraday price since it went public in June 2009. The provider of clinical data management software reported third-quarter earnings of 27 cents a share on an adjusted basis, which beat the 18-cent average analyst estimate.
Net 1 UEPS Technologies Inc. (UEPS US) slipped 16 percent to $10.87 and tumbled 16 percent earlier, the most intraday since October 2008. The owner of an electronic payment system reported first-quarter earnings that missed analysts’ estimates.
Noah Holdings Ltd. (NOAH US) surged 31 percent to $15.73 on its first day of trading. The Chinese provider of wealth- management products raised $101 million in an initial public offering.
Polo Ralph Lauren Corp. (RL US) rose the most in the S&P 500, adding 7.4 percent to $108.40. The New York-based seller of the namesake brand clothing raised its sales projection for the year as customers snapped up footwear and apparel.
Smart Technologies Inc. (SMT US) tumbled 28 percent to $9.47 after sinking as much as 29 percent, the most intraday since it went public in July. The producer of interactive whiteboards used in classrooms reported second-quarter sales of $222.7 million, trailing the average analyst estimate by 4.8 percent, according to Bloomberg data.
Sonic Solutions Inc. (SNIC US) slipped 8.8 percent to $11.03 and dropped 12 percent earlier, the most intraday since June 2. The operator of an online video service reported second- quarter sales of $25.3 million, missing the average analyst estimate by 4.2 percent, according to Bloomberg data.
Tesla Motors Inc. (TSLA US) rose 7 percent to $26.36 and climbed to $27.35 earlier, the highest intraday price since June 30. The maker of electric sports cars said it had a third- quarter adjusted loss of 41 cents a share, compared with the 43- cent loss estimated by analysts.
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