Airgas, Harry Winston, Molycorp, SandRidge: 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 9:50 a.m. in New York.
Standard & Poor’s announced changes to U.S. indexes:
Cablevision Systems Corp. (CVC US) rose 4.1 percent to $37.43; F5 Networks Inc. (FFIV US) gained 2.4 percent to $143.30; Netflix Inc. (NFLX US) advanced 3.4 percent to $197.55; and Newfield Exploration Co. (NFX US) increased 1.6 percent to $71.18 after being picked to join the S&P 500 Index. Among stocks being dropped from the benchmark, New York Times Co. (NYT US) slipped 1.1 percent to $9.63 and Office Depot Inc. (ODP US) fell 1.8 percent to $4.86.
Aastrom Biosciences Inc. (ASTM US) sank 26 percent to $2.26. The developer of cell-therapy systems priced a $22.5 million offering at $2.25 per unit consisting of one share and one warrant each.
Airgas Inc. (ARG US) rose 1.5 percent to $62.77. The industrial gas distributor was raised to “outperform” from “neutral” at Robert W. Baird & Co.
Beckman Coulter Inc. (BEC US) soared 30 percent to $74.31. The maker of laboratory equipment for scientific research is exploring a sale after it was approached by buyout firms interested in taking the company private, people with direct knowledge of the matter said.
Borders Group Inc. (BGP US) dropped 12 percent to $1.20. The second-largest U.S. bookstore chain said it’s in talks to refinance and may end up in violation of its credit agreements in the first quarter if negotiations fail.
Capstead Mortgage Corp. (CMO US) increased 1.8 percent to $12.14. The real-estate investment trust that holds mostly adjustable-rate mortgage securities declared a fourth-quarter dividend of 39 cents a share, up from 26 cents a share in the prior period.
Carrizo Oil & Gas Inc. (CRZO US) fell 2.3 percent to $29.59. The Houston-based energy exploration and production company said it will sell 3.5 million shares in a public offering.
Community Health Systems Inc. (CYH US) rose 1 percent to $31.94. The second-biggest U.S. hospital operator said it offered to buy Tenet Healthcare Corp. (THC US) for $6 a share in cash and stock, and was rejected.
Tenet rallied 49 percent to $6.40.
Compellent Technologies Inc. (CML US) slipped 3.2 percent to $28.10. The storage area network producer, which is in talks on a buyout offer of $27.50 a share from Dell Inc. (DELL US), was cut to “neutral” from “outperform” at Robert W. Baird & Co.
Cypress Sharpridge Investments Inc. (CYS US) slid 3.4 percent to $12.73. The specialty finance company said it plans to sell 10 million shares.
DryShips Inc. (DRYS US) climbed 6.1 percent to $6.37. The Greek owner of deep-water drilling rigs and vessels was raised to “outperform” from “neutral” at Credit Suisse Group AG.
Esterline Technologies Corp. (ESL US) rose 6.6 percent to $68.79. The Bellevue, Washington-based supplier to the aerospace and defense industry forecast fiscal year 2011 profit of as much as $4.65 a share. The average analyst estimate in a Bloomberg survey is $4.28 a share.
Fuel Systems Solutions Inc. (FSYS US) slumped 4.5 percent to $30.21. The provider of alternative fuel systems priced 2 million shares at $30 each.
Green Mountain Coffee Roasters Inc. (GMCR US) sank 9.7 percent to $33.81. The seller of Keurig single-cup brewers forecast first quarter profit excluding some items between 14 cents and 18 cents a share, below the average analyst estimate of 20 cents a share, according to a Bloomberg survey.
Harry Winston Diamond Corp. (HWD US) fell 7.5 percent to $13.30. The mining company and jewelry retailer reported third- quarter sales were $140.9 million, below the $152 million estimated by one analyst. The Toronto-based company also cut its 2010 production forecast to 6.9 million carats from 7.8 million.
Molycorp Inc. (MCP US) gained 2.9 percent to $31.67. Sumitomo Corp. agreed to a $130 million equity and debt investment in the owner of the world’s largest non-Chinese deposit of rare-earth metals. In exchange, Molycorp said it agreed to supply Sumitomo with products for seven years.
National Semiconductor Corp. (NSM US) declined 8.2 percent to $13.75. The maker of analog integrated circuits forecast third-quarter sales lower than analysts predicted. Revenue this quarter will be $344 million to $359 million, compared with $382.3 million, the average estimate of analysts surveyed by Bloomberg.
Occidental Petroleum Corp. (OXY US) gained 1.9 percent to $92.77. The oil and gas explorer agreed to buy properties in South Texas and North Dakota for about $3.2 billion after China Petrochemical Corp. agreed to purchase its Argentine unit for $2.45 billion. Occidental, whose 11-year streak of beating the Standard & Poor’s 500 Index is the longest in the benchmark measure, also said it’s boosting its common dividend rate by 21 percent.
Pacific Biosciences of California Inc. (PACB US) rallied 9.6 percent to $14.25. The Menlo Park, California-based maker of gene-mapping systems and Harvard Medical School decoded the genome of Haitian Cholera pathogen.
Pall Corp. (PLL US) rose 5.5 percent to $50.66. The supplier of filters for drugmakers and refineries increased its profit forecast, saying it expects earnings excluding some items of as much as $2.63 a share in fiscal 2011.
Procter & Gamble Co. (PG US) advanced 1.2 percent to $63.59. The world’s largest consumer-products company was raised to “buy” from “neutral” at Goldman Sachs Group Inc.
SandRidge Energy Inc. (SD US) advanced 2.1 percent to $6.21. The oil and natural gas producer said it sold its Bone Spring assets for $110 million. Proceeds will be used to fund part of the Oklahoma City-based company’s capital expenditures next year.
VeriSign Inc. (VRSN US) jumped 2.4 percent to $35.86. The Mountain View, California-based operator of computers that direct Internet traffic declared a special dividend of $3.
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