Affymetrix, ITT, Leapfrog, Noble, Thoratec: 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.
Affymetrix Inc. (AFFX) rose 15 percent to $5.41, the biggest gain since Feb. 4. The maker of DNA chip technology estimated its fourth-quarter revenue at about $85 million, beating the average analyst forecast, and said it would post a profit for the period.
Arch Coal Inc. (ACI) declined 3.9 percent, the most since Dec. 8, to $34.13. The second-biggest U.S. coal company said its 2010 earnings excluding some items were $1.15 a share at most, trailing its earlier forecast, because of lower shipments.
Cliffs Natural Resources Inc. (CLF) rose 4.1 percent to $88.43, the highest price since September 2008. North America’s largest iron-ore producer agreed to buy Consolidated Thompson Iron Mines Ltd. (CLMZF US) for about C$4.9 billion ($4.95 billion) to add Canadian output. Cliffs will pay C$17.25 a share, 29 percent higher than yesterday’s Consolidated Thompson closing share price on the Toronto Stock Exchange.
Consolidated Thompson surged 33 percent to $17.57.
Eastman Chemical Co. (EMN) added 4.9 percent to $92.90, the highest price since its spinoff in December 1993. The largest U.S. maker of plastics for water bottles was rated “overweight” in new coverage by Morgan Stanley.
H.B. Fuller Co. (FUL) jumped 15 percent, the most since September 2006, to $23. The adhesives maker forecast 2011 profit, excluding some items, of as much as $1.85 a share, more than the average analyst estimate of $1.67, according to Bloomberg data.
ITT Corp. (ITT) jumped 17 percent to $61.50 for the biggest rally in the S&P 500. The maker of military night-vision goggles said its board approved a plan to separate the company’s businesses into three distinct, publicly traded companies.
JPMorgan Chase & Co. (JPM) rose the most in the Dow Jones Industrial Average, advancing 2.6 percent to $44.71. Chief Executive Officer James Dimon told CNBC that he “would like” to boost the company’s dividend. He didn’t give a timetable, although he said he hoped the action could be taken in the second quarter. He did not specify an amount.
Leapfrog Enterprises Inc. (LF) dropped the most in the Russell 2000 Index, sinking 22 percent to $4.22. The maker of electronic children’s learning products said it earned 6 cents a share at most last year, missing its forecast for profit of at least 20 cents.
Lululemon Athletica Inc. (LULU) climbed 8.3 percent, the most since Dec. 9, to $72.85. The biggest Canadian athletic-wear retailer raised its forecast for fourth-quarter profit to at least 55 cents a share, topping analysts’ estimate of 50 cents on average. The company had seen earnings of no more than 48 cents in previous guidance.
Mistras Group Inc. (MG) rose the most since its initial public offering in October 2009, climbing 8.2 percent to $14.99. The provider of testing services to evaluate the structural integrity of industrial and public infrastructure boosted its full-year sales and earnings forecasts.
Noble Corp. (NE) advanced 6.1 percent, the most since Sept. 1, to $38.13. The U.S. offshore oil driller was picked to replace QLogic Corp. (QLGC) in the Standard & Poor’s 500 Index, according to a statement on S&P’s website.
Spirit AeroSystems Holdings Inc. (SPR) jumped 9.7 percent, the most since September 2008, to $22.42. The maker of aircraft parts said it reached an agreement with Boeing Co. (BA US) for claims related to delays on the 787 Dreamliner.
St. Joe Co. (JOE) gained 7.3 percent to $25, the highest price since Oct. 1. The largest private landholder in northern Florida and Fairholme Capital Management LLC, the developer’s biggest shareholder, agreed to end a standstill agreement early, according to a regulatory filing.
Symantec Corp. (SYMC) gained 3.2 percent, the most since Nov. 5, to $17.63. The world’s largest maker of computer security software was raised to “buy” from “hold” at Citigroup Inc.
Thoratec Corp. (THOR) fell the most in the Russell 1000 Index, sinking 6.7 percent to $29.01. The maker of implantable heart devices expects the first human implant of the next iteration of its HeartMate pump by the end of 2012, later than anticipated, Piper Jaffray & Co. said.
Zale Corp. (ZLC US) jumped 43 percent, the most since April 2009, to $5.76. The third-largest U.S. jewelry chain said sales at stores open at least a year rose 8.5 percent over the holidays as shoppers bought more diamonds. Comparable-store sales rose 11.5 percent in November and 7.4 percent in December.
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