AMD, Apollo, MBIA, Shaw Group, Supervalu: 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.
Advanced Micro Devices Inc. (AMD) slumped 12 percent, the most since January 2010, to $8.36. The second-largest maker of computer microprocessors named Thomas Seifert as interim chief executive officer, as Dirk Meyer resigned in a mutual agreement with the board.
Amarin Corp. (AMRN) gained 5.9 percent to $9.33 and climbed to $9.33 earlier, the highest price since April 2007. The cholesterol drug developer with no approved products will retain a financial adviser to review its alternatives and has fielded calls from more than a dozen interested parties, Chief Executive Officer Joe Zakrzewski said today in an interview.
Apollo Group Inc. (APOL) jumped 13 percent to $40.74 for the biggest gain in the Standard & Poor’s 500 Index. The Phoenix-based education company said earnings in the first quarter were $1.63, surpassing the $1.35 average estimate of analysts.
Body Central Corp. (BODY) rallied 27 percent to $19.24 for the biggest intraday gain since it went public in October. The woman’s clothing retailer said sales at stores open at least one year increased 15 percent during the fiscal fourth quarter, topping its previous forecast.
ClickSoftware Technologies Ltd. (CKSW) tumbled 15 percent, the most since October 2009, to $7.96. The maker of software used to schedule deliveries and maintenance online said fourth-quarter operating profit was lower than expected because of increased hiring and charges related to a customer bankruptcy.
Coeur d’Alene Mines Corp. (CDE US) climbed 13 percent, the most since May 2009, to $27.77. The biggest U.S. silver producer was raised to “buy” from “hold” at Deutsche Bank AG.
HeartWare International Inc. (HTWR) increased 12 percent to $96.19, the highest price since at least February 2009. The maker of implantable heart pumps said fourth-quarter sales were about $20 million. Analysts, on average, estimated $17.9 million, according to a Bloomberg survey.
Interactive Intelligence Inc. (ININ) jumped 24 percent to $36.58, the highest price since November 2000. The maker of communication software said it expects to earn at least 48 cents a share, excluding some items, in the fourth quarter, exceeding the average analyst estimate of 31 cents in a Bloomberg survey.
Lennar Corp. (LEN) advanced 7.1 percent to $20.24, the highest price since May 3. The Miami-based homebuilder reported fourth-quarter earnings that beat analyst estimates after cutting costs. Net income in the three months ended Nov. 30 was 17 cents a share excluding some items. Analysts projected earnings of about 1 cent a share, according to the average of 15 estimates compiled by Bloomberg.
MBIA Inc. (MBI) rose 10 percent to $13.53, the highest price since September 2008. A New York appeals court dismissed one of two lawsuits against the bond over its restructuring.
Mortgage insurers also gained. Radian Group Inc. (RDN) climbed 5.4 percent to $9.35. PMI Group Inc. (PMI US) increased 3.6 percent to $3.77.
Meru Networks Inc. (MERU) rose 14 percent, the most since March 31, to $18.78. The maker of Wi-Fi networking equipment was raised to “outperform” from “market perform” by William Blair & Co.
Sears Holdings Corp. (SHLD) jumped 6.3 percent to $75.03, for the biggest gain since Dec. 29. The largest U.S. department-store chain said it will earn $3.39 to $4.12 a share before any items for the fourth quarter. Analysts surveyed by Bloomberg had estimated profit of $3.05 on average.
Shaw Group Inc. (SHAW US) rose 7.2 percent to $36.51, the highest price since June. The engineering services company was upgraded to “neutral” from “underweight” at JPMorgan Chase & Co.
Spectrum Control Inc. (SPEC) lost 13 percent, the most since November 2008, to $12.16. The electronic products designer and manufacturer reported a fourth quarter profit of 25 cents a share, missing the 32-cent estimate of a single analyst in a Bloomberg survey.
Stryker Corp. (SYK) rose 6 percent, the most since January 2009, to $58. The Kalamazoo, Michigan-based maker of artificial hips and knees forecast adjusted earnings in 2011 of as much as $3.73 a share, exceeding the $3.65 average estimate of analysts surveyed by Bloomberg.
Supervalu Inc. (SVU) slid the most in the Standard & Poor’s 500 Index, sinking 12 percent to $7.59. The Eden Prairie, Minnesota-based grocer said it expects a fiscal 2011 adjusted profit of $1.25 to $1.35 a share. It previously forecast $1.40 to $1.60 a share. The average estimate of analysts surveyed by Bloomberg was for $1.45 a share.
Talbots Inc. (TLB US) tumbled 17 percent to $6.25 for the second-biggest loss in the Russell 2000 Index. The women’s clothing retailer forecast a fourth-quarter adjusted loss of between 15 cents and 19 cents a share. On average, the analysts surveyed by Bloomberg estimated loss of 2 cents.
Taseko Mines Ltd. (TGB) surged 17 percent, the most since March 2009, to $5.91. The copper producer announced what it called “highly successful” drilling results at a niobium-mining project.
Tuesday Morning Corp. (TUES) dropped 16 percent, the most since January 2009, to $4.45. The closeout home-furnishing retailer said it earned 41 cents a share at most in the fiscal second quarter. Avondale Partners LLC estimated profit of 49 cents.
Verizon Communications Inc. (VZ) fell the most in the Dow Jones Industrial Average, losing 1.6 percent to $35.36. The biggest U.S. wireless carrier is set to sell Apple Inc.’s (AAPL US) iPhone this month after four years of waiting.
Rival AT&T Inc. (T) , currently the exclusive U.S. carrier for the iPhone, slipped 1.5 percent to $27.91.
WD-40 Co. (WDFC) fell 6.8 percent, the most since May 2009, to $37.22. The San Diego-based maker of lubricants and hand soap reported first-quarter earnings of 53 cents a share, missing the average analyst estimate of 60 cents.
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