AT&T, Arena, Ford Motor, Microsoft, SanDisk: 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.
On the first day of trading:
BankUnited Inc. (BKU) rose 5.2 percent to $28.40. The lender, which was acquired by buyout firms after it was shut by regulators in 2009, raised $783 million in an initial public offering, or 19 percent more than sought.
InterXion Holding NV (INXN) rallied 6.2 percent to $13.80. The Schiphol-Rijk, Netherlands-based provider of data center support services raised $265 million pricing its IPO at the high end of the forecast range.
BCD Semiconductor Manufacturing Ltd. (BCDS US) was unchanged. The Shanghai-based company raised $63 million selling American depositary receipts at $10.50 each.
Accuray Inc. (ARAY) surged 30 percent to $8.91, the second-biggest gain in the Russell 2000 Index. The maker of robotic cancer treatment products reported a second-quarter profit of 7 cents a share. Analysts, on average, expected a loss of 1 cent, according to a Bloomberg survey.
Amazon.com Inc. (AMZN) slumped 7.2 percent, the most since June 29, to $171.14. The world’s largest online retailer said first-quarter operating profit and sales may be lower than analysts predicted as it steps up spending on warehouses for products and data centers to support its Web Services unit.
Arena Pharmaceuticals Inc. (ARNA) dropped 19 percent to $1.63, the biggest loss in the Russell 2000 Index. The San Diego based biotechnology company said it will fire a quarter of its workforce to save enough money to keep pursuing regulatory approval of its diet drug lorcaserin. Arena said it will take a $3.8 million charge, primarily in the first quarter, in connection with termination benefits.
AT&T Inc. (T) fell 2.3 percent to $27.49, the lowest price since Sept. 8. The wireless carrier that is about to lose its exclusive hold on the Apple Inc. iPhone in the U.S. was cut to “neutral” from “outperform” at Cowen & Co. and to “neutral” from “buy” at UBS AG.
Borders Group Inc. (BGP US) rose 5.3 percent to 85 cents for its biggest gain since Jan. 14. The second-largest U.S. bookstore chain said it will get $550 million of loans as part of a restructuring aimed at improving profitability and cash flow.
BPZ Resources Inc. (BPZ) advanced 10 percent, the most since Dec. 1, to $5.21. The oil and gas company with operations in Peru said it secured a $40 million loan from Credit Suisse Group AG. The financing eased concern that BPZ may need to sell shares to raise capital, Raymond James Financial Inc. said, boosting the stock “strong buy” from “outperform.”
Buckeye Technologies Inc. (BKI US) slid 7.8 percent to $24.86 for its biggest decline since Jan. 11. The manufacturer of specialty cellulose products was cut to “neutral” from “buy” at UBS AG.
Coherent Inc. (COHR) advanced 13 percent, the most since February 2009, to $53.44. The maker of laser-based photonic products projected sales of at least $760 million in fiscal 2011, topping the average analyst estimate of $714.7 million in a Bloomberg survey.
Compuware Corp. (CPWR) dropped 9.4 percent, the most since March 2009, to $10.48. The business software maker reported third-quarter profit of 15 cents a share, trailing some analysts’ estimates.
Cytec Industries Inc. (CYT) gained 5.2 percent, the most since Sept. 13, to $53.87. The producer of reinforced plastics said it’s in talks to divest a chemicals unit in order to focus on faster-growing businesses including engineered resins used in airplanes.
Digital River Inc. (DRIV) slumped 13 percent, the most since October 2009, to $30.78. The company that builds and manages online businesses said first-quarter earnings will be 29 cents a share, compared with the average analyst projection for 31 cents.
Dover Corp. (DOV) rose 4.5 percent to $62.15 for the second-biggest gain in the Standard & Poor’s 500 Index. The owner of more than 40 businesses that provide equipment and services to industrial, engineering and fluid management companies reported fourth-quarter sales and profit that topped analyst estimates, and forecast 2011 per-share profit that also exceeded the average analyst estimate in a Bloomberg survey.
Ford Motor Co. (F US) dropped 13 percent to $16.27, the second-biggest retreat in the S&P 500 index. The second-largest U.S. automaker said fourth-quarter profit fell 79 percent as its European operations reported a loss. Profit excluding some items was 30 cents a share, trailing the 48-cent average estimate of 14 analysts surveyed by Bloomberg.
Infinera Corp. (INFN) tumbled 18 percent to $7.37, the lowest price since July 22. The maker of high-speed computer networking equipment was cut to “neutral” from “overweight” at JPMorgan Chase & Co. The 12-month share-price estimate is $8.
Informatica Corp. (INFA) rose 7.3 percent, the most since July 23, to $45.66. The maker of data-gathering software reported fourth-quarter sales of $198 million, 7.3 percent more than the average analyst estimate, Bloomberg data showed.
Microsoft Corp. (MSFT) dropped the most in the Dow Jones Industrial Average, sliding 3.9 percent to $27.75. The world’s largest software maker said Windows sales were $5.05 billion in the second quarter, missing the $5.2 billion average of analysts’ estimates compiled by Bloomberg.
Monster Worldwide Inc. (MWW) fell 25 percent to $15.95 for the biggest retreat in the S&P 500 index. The world’s largest online-recruiting company forecast first-quarter earnings will be as low as 1 cent a share. Analysts project a 4-cent profit, according to Bloomberg data.
Oplink Communications Inc. (OPLK) soared 23 percent to $23.77, the highest price since July 2001. The maker of fiber-optic equipment forecast said it expects earnings excluding some items of at least 49 cents a share in the fiscal third quarter. That topped the 39-cent average analyst estimate in a Bloomberg survey.
PMC-Sierra Inc. (PMCS) slumped 13 percent, the most since December 2008, to $7.77. The chipmaker forecast first-quarter sales of $160 million at most, trailing the average analyst estimate of $165 in a Bloomberg survey.
Sanofi-Aventis SA (SNY) dropped 5.4 percent, the most since June 2009, to $33.35. The pharmaceutical company said an experimental cancer drug failed to prolong survival or delay the progression of an aggressive, hard-to-treat breast cancer in a key study. Myriad Genetics Inc. (MYGN) , which makes a diagnostic test to identify which patients can benefit from Sanofi (SAN)’s medicine and other similar products, slid 14 percent to $19.30.
SanDisk Corp. (SNDK) slumped 8.8 percent, the most since January 2010, to $46.80. The biggest maker of flash-memory cards’ Nand flash storage forecast 2011 sales of as low as $5.3 billion, missing the average analyst estimate of $5.18 billion, according to a Bloomberg survey.
Scansource Inc. (SCSC) jumped 8 percent, the most since Oct. 8, to $36.68. The maker of bar-code scanners said third-quarter sales will be at least $630 million. Analysts had estimated sales of $591 million.
TeleNav Inc. (TNAV) rose 21 percent, the most since Oct. 29, to $8.95. The navigation and search services provider for mobile devices forecast profit excluding some items of at least 84 cents a share in fiscal 2011, beating the 75 cents estimated by analysts in a Bloomberg survey.
Terremark Worldwide Inc. (TMRK US) surged 35 percent to $18.92 for the biggest increase in the Russell 2000 Index. The company, which operates data centers that provide security and recovery services for electronic information as well as storage and cloud computing, agreed to be bought by Verizon Communications Inc. (VZ) for $19 a share in cash, for a total value of about $1.4 billion.
Savvis Inc. (SVVS US), which Benchmark & Co. said is the “closest public comparable” to Terremark, rallied 14 percent to $30.26.
Tessera Technologies Inc. (TSRA) fell 19 percent to $17.11, the lowest price since Sept. 21. The designer of packaging for computer chips said it expects a first-quarter charge of $2.5 million to $3 million, citing job cuts. The company also said sales will be $65 million to $68 million, falling short of the average analyst estimate of $73.9 million.
Thoratec Corp. (THOR) declined 11 percent to $23.13, the lowest price since March 2009. The maker of implantable heart devices said 2011 earnings will be $1.35 to $1.45 a share. Analysts estimate $1.49 a share, according to the average forecast compiled by Bloomberg.
VistaPrint Ltd. (VPRT) climbed 5.4 percent, the most since Oct. 29, to $49.45. The online provider of printing services projected earnings of as much as $2.27 a share excluding some items for fiscal year 2011. That beat the average analyst estimate of $2.21 in a Bloomberg survey.
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