Bank of Ireland, Dundee, Novell: U.S. Equity Movers
(Corrects time stamp in first paragraph.)
Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 4 p.m. in New York.
Irish lenders declined after the nation became the second euro country to seek a rescue as the cost of saving its banks threatened a rerun of the Greek debt crisis. Bank of Ireland Plc (IRE US) slumped 17 percent to $2.22. Allied Irish Banks Plc (AIB US) dropped 9.8 percent to $1.11.
U.S. financial shares also retreated. Bank of America Corp. (BAC US) fell 3.1 percent to $11.30 for the biggest loss in the Dow Jones Industrial Average. JPMorgan Chase & Co. (JPM US) slid 2.3 percent to $38.51. Marshall & Ilsley Corp. (MI US) fell the most in the Standard & Poor’s 500 Index, sinking 4.6 percent to $4.74.
Cirrus Logic Inc. (CRUS US) gained 15 percent, the most since May 11, to $15.88. The supplier of parts for Apple Inc.’s iPhone and iPad was raised to “buy” from “hold” by Jefferies & Co. Inc.
Citi Trends Inc. (CTRN US) climbed 14 percent, the most since March 2009, to $24.31. The clothing retailer’s stock may have already reflected the prospect of a reduced full-year earnings forecast and the inventory at the end of the third quarter showed a “significant improvement,” Wells Fargo & Co. said in a note.
Cyberonics Inc. (CYBX US) rose 9.8 percent, the most since June 3, to $29.86. The maker of a nerve-stimulating device to treat epilepsy posted second-quarter earnings excluding some items that matched analysts’ average estimate. It also raised its full-year sales estimate.
Dundee Corp. (DDEJF US) advanced 8.3 percent to $19.27, the highest price since December 2007. The financial holding company agreed to sell its stake in DundeeWealth Corp. (DDWMF US) to Bank of Nova Scotia (BNS CN), Canada’s third-largest bank, for C$21 a share. DundeeWealth rose 9.2 percent to $20.48.
Goldman Sachs Group Inc. (GS US) fell 3.4 percent, the most since May 18, to $161.05. The securities firm is one of the focuses of a 3-year investigation into possible insider-trading networks, the Wall Street Journal reported, citing unidentified people familiar with the situation. The U.S. Securities and Exchange Commission and other federal officials are nearing the end of the probe, which includes whether Goldman Sachs bankers divulged information about health-care acquisitions and other transactions, the newspaper said.
Green Mountain Coffee Roasters Inc. (GMCR US) jumped 18 percent, the most since April 2009, to $35.78. The seller of Keurig single-cup brewers was raised to “buy” from “underperform” by Bank of America Merrill Lynch equity analyst Bryan D. Spillane because of increased earnings potential and clarity on the Securities and Exchange Commission’s inquiry into the company’s accounting practices.
Netflix Inc. (NFLX US) climbed 8.8 percent to $188.82, the highest price since it went public in May 2002. The mail-order and online movie-rental service introduced its first streaming- only subscription plan in the U.S. for customers to watch movies and TV shows online for $7.99 a month.
Novell Inc. (NOVL US) jumped 6.6 percent to $5.96 for the biggest advance in the S&P 500. Attachmate Corp. said it agreed to acquire the network software maker for $6.10 a share. Waltham, Massachusetts-based Novell said the deal is valued at about $2.2 billion.
Regeneron Pharmaceuticals Inc. (REGN US) rose the most in the Russell 1000 Index, surging 20 percent to $29.53. The Tarrytown, New York-based drugmaker and Bayer AG’s experimental drug for wet age-related macular degeneration, a cause of vision loss in the elderly, worked as well as Roche Holding AG’s Lucentis with fewer doses.
SanDisk Corp. (SNDK US) increased 6.4 percent, the most since July 12, to $42.57. The biggest maker of flash-memory cards was increased to “outperform” from “neutral” by Robert W. Baird & Co.
Tech Data Corp. (TECD US) rose 5.1 percent, the most since May 21, to $46.24. The distributor of computer products posted third-quarter earnings of $1.07, beating the 95-cent average analyst estimate.
Teradyne Inc. (TER US) climbed 5.7 percent to $12.53, the highest price since May 3. The maker of testing equipment for electronics was boosted to “buy” from “hold” at Citigroup Inc.
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