Constellation Brands, Halliburton, Verizon: 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.
Some retailers declined after reporting December same-store sales. Gap Inc. (GPS US), the operator of more than 3,000 clothing stores, dropped 6.9 percent to $20.70. Target Corp. (TGT US), the second-biggest U.S. discount retailer, retreated 6.8 percent to $54.93. Abercrombie & Fitch Co. (ANF US), the teen-clothing seller, fell 3.3 percent to $53.53. Macy’s Inc. (M US), the second-biggest U.S. department-store chain, slid 4 percent to $24.10. Zumiez Inc. (ZUMZ US) slumped 8.4 percent to $24.44. Wet Seal Inc. (WTSLA US) tumbled 12 percent to $3.46.
TJX Cos. (TJX US), the discount clothing seller, rose 5.9 percent to $45.52 after reporting an unexpected increase in December sales.
A. Schulman Inc. (SHLM US) slipped 7.6 percent, the most since June 4, to $20.31. The maker of Formion and Polyflam plastics posted first-quarter profit excluding some items of 34 cents a share, missing the average analyst estimate by 24 percent, according to Bloomberg data.
Boeing Co. (BA US) had the second-biggest gain in the Dow Jones Industrial Average, climbing 2 percent to $68.80. The world’s second-biggest commercial-jet builder sold more than three times as many planes in 2010 as the year before and beat its delivery target as air-travel demand recovered from the global economic crisis.
Capstone Turbine Corp. (CPST US) advanced 9.1 percent to $1.08, the highest price since June 25. The turbine maker said it received a second order from a large independent oil and gas company in less than a month.
Clearwire Corp. (CLWR US) rose 8.3 percent to $5.77 for the third-biggest advance in the Russell 1000 Index. Research In Motion Ltd. (RIMM US) and Sprint Nextel Corp. (S US) said Sprint will begin selling RIM’s BlackBerry 4G PlayBook tablet computer around mid-year. Clearwire, which has said it’s at risk of failing, provides wireless service to Sprint customers.
Constellation Brands Inc. (STZ US) fell 8.1 percent, the most since January 2009 to $19.84. The world’s largest wine company reported third-quarter sales of $966 million, 2.7 percent less than the average of eight analyst estimates in a Bloomberg survey.
First BanCorp (FBP US) slumped 26 percent to 36 cents for the biggest drop in the Russell 2000 Index. The Puerto Rico lender said it will do a one-for-fifteen reverse stock split on Jan. 7.
Halliburton Co. (HAL US) fell 3 percent to $38.22, the lowest price since Nov. 30. Bad decisions by the company were partly responsible for the worst U.S. offshore oil spill last year, the National Commission on the BP Deepwater Horizon Oil Spill said yesterday.
Lexicon Pharmaceuticals Inc. (LXRX US) surged 46 percent to $2.20 for the biggest gain in the Russell 2000 Index. The biotechnology company said a study of LX4211 for treating type 2 diabetes showed “positive” results.
MetroPCS Communications Inc. (PCS US) dropped 6.7 percent, the most since May 7, to $13.30. The U.S. pay-as-you-go mobile phone company said it added 297,826 new subscribers in the fourth quarter. Piper Jaffray & Co. expected 450,000 additions.
Telecommunications companies in the S&P 500 fell 2.8 percent as a group as Verizon Communications Inc. (VZ US), dropped 2.6 percent to $36.23 for the biggest decline in the Dow average.
Moody’s Corp. (MCO US) climbed 8.6 percent, the most since Sept. 29, to $29.67. The credit-rating company raised its earnings forecast for 2010 to at least $2.08 a share, from an earlier projection of no more than $1.96 a share.
Nvidia Corp. (NVDA US) rose the most in the S&P 500, climbing 14 percent to $19.33. Microsoft Corp. (MSFT US) said the next version of its Windows personal-computer operating system will run on low-power, mobile-device chips called ARM processors made by Nvidia, Qualcomm Inc. (QCOM US) and Texas Instruments Inc. (TXN US), marking a shift in the software maker’s alliance with Intel Corp. (INTC US).
Intel lost 0.8 percent to $20.77.
Pacific Sunwear of California Inc. (PSUN US) plunged 12 percent, the most since March 12, to $4.80. The athletic apparel retailer it had a loss of at least 31 cents a share excluding some items in the fourth quarter, wider than its previous forecast, because of lower sales and margins.
Resources Connection Inc. (RECN US) jumped 13 percent, the most since July 2008, to $21.40. The provider of legal and accounting services posted second-quarter revenue and per-share earnings excluding some items that beat the average of analysts’ estimates.
Ruby Tuesday Inc. (RT US) rose 5.4 percent to $14.77, the highest price since November 2007. The casual-dining chain said second-quarter earnings of 7 cents a share beat the average analyst estimate of 5 cents a share.
Skilled Healthcare Group Inc. (SKH US) jumped 12 percent to $10.66 the highest price since December 2008. The operator of nursing and assisted-living homes forecast 2011 earnings of at least $1.22 a share, topping the average analyst estimate of 90 cents in a Bloomberg survey.
Sourcefire Inc. (FIRE US) fell 8 percent, the most since Oct. 8, to $24.68. The maker of security products for computer networks said it acquired Immunet for $21 million and the purchase will add to earnings after 2012.
Valeant Pharmaceuticals International (VRX US) jumped 19 percent, the most since September 2005, to $35.55. The drug developer forecast 2011 earnings of at least $2.25 a share, beating the average estimate of $2.21 from analysts in a Bloomberg survey.
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