Abercrombie, Movado, Pulte, UTI Worldwide: 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 rallied after Goldman Sachs Group Inc. said banks will outperform the market next year because of “stronger economic growth, an improved equity investing environment, and a more supportive interest rate environment.”
Marshall & Ilsley Corp. (MI US) rallied 12 percent to $5.48 for the biggest gain in the Standard & Poor’s 500 Index. Regions Financial Corp. (RF) climbed 6.9 percent to $6.06. Fifth Third Bancorp (FITB) added 6.4 percent to $13.05. SunTrust Banks Inc. (STI) rose 5.8 percent to $25.38.
Homebuilders advanced after more Americans signed contracts to buy previously owned homes in October, sending the index of pending home resales to a record 10 percent increase. Pulte Group Inc. (PHM) gained 3.2 percent to $6.75. Lennar Corp. (LEN) jumped 7.2 percent to $16.88. KB Home (KBH) climbed 4.5 percent to $12.41.
Abercrombie & Fitch Co. (ANF) had the second-biggest advance in the S&P 500, climbing 11 percent to $56.02. The teen-clothing retailer said its sales at stores open at least one year surged 22 percent. Analysts, on average, expected a 6.4 percent increase, according to Retail Metrics Inc.
Aeropostale Inc. (ARO) declined 14 percent to $23.04 for the biggest retreat in the Russell 1000 Index. The clothing retailer said fourth-quarter profit may be as low as 94 cents a share. Analysts estimated $1.03 on average, according to a Bloomberg survey.
Clearwire Corp. (CLWR US) fell 13 percent, the most since November 2009, to $5.90. The company building out a high-speed WiMax wireless network plans to sell at least $1.1 billion of debt after saying last month that it may not have enough funding to keep operating.
Collective Brands Inc. (PSS US) jumped 16 percent, the most since December 2008, to $20.38. The owner of Payless ShoeSource stores reported third-quarter earnings of 75 cents a share, excluding some items, beating by 47 percent the average projection of analysts surveyed by Bloomberg.
Compellent Technologies Inc. (CML US) increased 3.2 percent to a record $27.02. The storage area network producer was raised to “outperform” from “sector perform” at Royal Bank of Canada.
Finisar Corp. (FNSR) gained 17 percent, the most since August 2009, to $23.06. The maker of fiber-optic transmission gear said third-quarter earnings will be at least 45 cents a share, more than the average analyst estimate of 39 cents a share.
FXCM Inc. (FXCM) rose 6.1 percent to $14.85 on the first day of trading. The company, which provides currency trading on the Internet for individual investors, raised $211 million selling its initial public offering at the midpoint of the forecast price range.
Internap Network Services Corp. (INAP) climbed 9.1 percent, the most since May 27, to $5.82. The provider of Internet management and distribution services was boosted to “outperform” from “sector perform” at Royal Bank of Canada.
Itron Inc. (ITRI) slid 5.5 percent, the most since Aug. 2, to $53.25. The largest U.S. maker of utility meters got a “sell” rating in new coverage from Goldman Sachs Group Inc.
Jo-Ann Stores Inc. (JAS US) fell 5.1 percent, the most since Oct. 6, to $45.71. The fabric retailer raised its fiscal-year 2011 earnings forecast to $3.35 to $3.45 a share. Analysts surveyed by Bloomberg estimated $3.52 a share on average.
Krispy Kreme Doughnuts Inc. (KKD) rose 21 percent, the most since April 2009, to $7.44. The doughnut chain reported third-quarter profit of 3 cents a share, beating the average analyst estimate of a loss of 1 cent a share.
Kroger Co. (KR) fell the most in the S&P 500, sinking 9.4 percent to $21.63. The largest U.S. grocery-store chain cut the high end of its full-year profit forecast to $1.78 a share from $1.80. Analysts surveyed by Bloomberg are on average estimating earnings of $1.78 a share.
Safeway Inc. (SWY) , another grocer, declined 4.5 percent to $22.29.
Movado Group Inc. (MOV) rose 20 percent, the most since June 2009, to $14.97. The watchmaker reported third quarter profit excluding some items of 50 cents a share. The average of two analyst estimates in a Bloomberg survey was 32 cents.
NetFlix Inc. (NFLX) declined 3.4 percent to $193.42 for the biggest loss since Nov. 1. Holders of the online movie-rental service company should sell at least half their position, Jim Cramer said on his “Mad Money” program.
Regal Cinemas Corp. (RGC) advanced 5 percent, the most since July 7, to $14.45. The movie theater operator said it will pay an extraordinary cash dividend of $1.40 at the end of 2010 and increase its quarterly dividend by 17 percent to 21 cents per share beginning with the dividend the company intends to declare during the first quarter of 2011.
Semtech Corp. (SMTC) fell 2.9 percent, the most since Sept. 7, to $23.33. The maker of chips for mobile phones and personal computers said fourth-quarter earnings excluding some items may be as low as 39 cents a share, short of the 42-cent average analyst estimate in a Bloomberg survey.
SXC Health Solutions Corp. (SXCI US) climbed 12 percent to $43.62, the highest price in data going back to December 1996. The provider of pharmacy benefit management services and health-care information technology agreed to buy MedfusionRx LLC for $100 million in cash and said the transaction will add to earnings “immediately.”
UTI Worldwide Inc. (UTI) fell 5.8 percent, the most since June 4, to $18.78. The air and ocean freight logistics company reported third quarter revenue of $1.2 billion, compared with an average analyst estimate in a Bloomberg survey of $1.22 billion.
Wimm-Bill-Dann Dairy & Juice Co. (WBD US) surged 28 percent to $31.34, the highest price since June 2008. PepsiCo Inc. (PEP) , the world’s largest snack-food maker, agreed to buy a controlling stake in Wimm-Bill-Dann for $3.8 billion to become the biggest food-and-beverage company in Russia.
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