Deere, D.R. Horton, Harman, Home Depot: 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.
Homebuilders advanced after the U.S. Commerce Department said construction spending rose 0.7 in October, lifted by the biggest gain in residential projects in six months. The median estimate of economists in a Bloomberg survey called for a 0.3 percent drop.
D.R. Horton Inc. (DHI US) rose 4.9 percent to $10.53. Pulte Group Inc. (PHM US) climbed 4.5 percent to $6.54. Lennar Corp. (LEN US) gained 3.7 percent to $15.75. Home Depot Inc. (HD US) the largest U.S. home-improvement retailer, increased 4.6 percent to $31.61, the biggest gain in the Dow Jones Industrial Average.
Casino shares advanced after Macau’s casino revenue surged 42 percent last month. Wynn Resorts Ltd. (WYNN US) climbed 3.7 percent to $104.79. Las Vegas Sands Corp. (LVS US) added 2.5 percent to $51.34. Melco Crown Entertainment Ltd. (MPEL US) increased 2.9 percent to $6.14.
A-Power Energy Generation Systems Ltd. (APWR US) tumbled 25 percent to $4.74, the lowest price since April 2009. The Chinese power system manufacturer slashed its forecast, saying it now expects 2010 sales of $310 million.
Consol Energy Inc. (CNX US) climbed 4.1 percent, the most since Nov. 4, to $43.69. The coal producer was boosted to “strong buy” from “outperform” at Raymond James Financial Inc.
Deere & Co. (DE US) gained 1.9 percent to $76.14, the first gain in seven days. The world’s largest farm-equipment maker increased its dividend by 5 cents, or 17 percent, to 35 cents a share. That beat the 30-cent dividend projection from Bloomberg.
Enterprise Products Partners LP (EPD US) slipped 2.5 percent, the most since Aug. 11, to $41.05. The largest U.S. pipeline operator will sell 10.5 million units representing partner interests and use the proceeds to cut debt.
Harman International Industries Inc. (HAR US) had the third-biggest gain in the Standard & Poor’s 500 Index, climbing 6 percent to $46.20. The maker of audio systems for homes and vehicles was raised to “overweight” from “neutral” at JPMorgan Chase & Co., which cited luxury car demand in the U.S. and China as well as the potential for a wider profit margin.
Ixia (XXIA US) fell 5.6 percent, the most since June 29, to $14.97. The provider of test equipment for high-speed networks said it will sell $125 million of convertible senior notes due in 2015.
Jos. A. Bank Clothiers Inc. (JOSB US) slumped 6.7 percent, the most since June 4, to $42.03. The maker of men’s apparel posted third-quarter profit of 45 cents a share, missing the 50- cent average analyst estimate.
LifePoint Hospitals Inc. (LPNT US) had the biggest drop in the Russell 1000 Index, erasing 4.8 percent to $34.47. The hospital operator was cut to “underperform” from “neutral” at Credit Suisse Group AG.
Microsoft Corp. (MSFT US) rallied 3.1 percent, the most since Sept. 13, to $26.04. The world’s largest software maker expects a 5-to-10-year growth spurt in games and 2011 could be the “biggest year ever,” said Dennis Durkin, chief operating officer of the company’s Xbox unit.
Motorola Inc. (MOT US) rose 4.5 percent, the most since Sept. 13, to $8.01. The U.S. maker of mobile phones and two-way radios that plans to split in two said it will complete the move on Jan. 4, issuing new shares in the two companies to current stockholders.
Nvidia Corp. (NVDA US) advanced 4.4 percent to $14.21, the highest price since May 13. The maker of graphics chips is in talks with Intel Corp. (INTC US) as the companies seek to settle a legal dispute over the use of each other’s technology, two people familiar with the matter said.
OmniVision Technologies Inc. (OVTI US) increased 9.7 percent to $31.02, the highest price since May 2006. The maker of image sensors for camera phones projected third-quarter profit of as much as 63 cents a share, topping the 40-cent average analyst estimate.
Sega Sammy Holdings Inc. (SGAMY US) jumped 11 percent, the most since May 2009, to $4.60. The Japanese maker of video-game and pachinko machines plans to buy back shares and retire 6 percent of outstanding stock.
Sycamore Networks Inc. (SCMR US) slumped 16 percent to $25.25 for the biggest retreat in the Russell 2000 Index. The maker of networking software reported first-quarter sales of $11.71 million, missing the average analyst estimate by 31 percent, according to Bloomberg data.
United Technologies Corp. (UTX US) rose 4 percent to $78.26, the highest price since December 2007. Airbus SAS’s announcement that it plans to develop new versions of the A320 series of aircraft with more fuel-efficient engines is “positive” for the maker of Pratt & Whitney jet engines and General Electric Co. (GE US), Deutsche Bank AG said in a note.
GE rose 3 percent to $16.30.
Universal Technical Institute Inc. (UTI US) fell 12 percent, the most since February 2009, to $18.32. The operator of schools to train automotive mechanics posted fourth-quarter profit excluding some items of 29 cents a share, 26 percent below the average analyst estimate, according to Bloomberg data.
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