Aetna, Avid, Clearwire, Itron, JDS Uniphase: 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.
Aetna Inc. (AET US) rose 12 percent to $37.42, the highest price since October 2008. The health insurer reported fourth- quarter revenue of $8.54 billion, beating the average analyst estimate of $8.33 billion, Bloomberg data show. The company also boosted its quarterly dividend from 4 cents to 15 cents.
Apartment Investment & Management Co. (AIV US) declined 5.1 percent to $24.35 for the biggest loss in the Standard & Poor’s 500 Index. The apartment manager forecast 2011 earnings excluding some items of $1.56 a share at most, trailing the average analyst estimate of $1.59 in a Bloomberg survey.
Aviat Networks Inc. (AVNW US) gained 19 percent, the most since at least January 2007, to $6.23. The maker of microwave radios that are used to connect cellphone towers with the wireless network said that, excluding some items, it broke even in the second quarter. Analysts, on average, estimated a loss of 9 cents a share, according to a Bloomberg survey.
Avid Technology Inc. (AVID US) rose 10 percent to $19.08, the highest since October 2008. The maker of software for digital audio and video production beat analysts’ fourth-quarter estimates and boosted its revenue forecast for 2011.
China MediaExpress Holdings Inc. (CCME US) surged 25 percent, the most since at least November 2007, to $13.89. The company, which displays ads on television screens in Chinese buses, said it’s preparing a rebuttal of allegations from short- seller Muddy Waters Research that drove its shares down 33 percent yesterday.
Clearwire Corp. (CLWR US) rose 11 percent, the most since Nov. 11, to $5.84. Deutsche Telekom AG’s T-Mobile USA unit may be close to a deal to buy wireless spectrum from Clearwire, which is building a nationwide high-speed wireless network, two people familiar with the talks said.
Coinstar Inc. (CSTR US) dropped 12 percent to $38.96, the lowest price since April 29. The operator of the Redbox DVD rental machines forecast first-quarter earnings from continuing operations of no more than 25 cents a share. Analysts project an average of 57 cents a share, according to data compiled by Bloomberg.
Dolby Laboratories Inc. (DLB US) slipped 8.1 percent, the most since May 2009, to $56.56. The inventor of surround sound and other audio technologies reduced its 2011 forecast, projecting earnings excluding some items of $2.98 a share at most. Analysts, on average, estimated profit of $3.07, according to a Bloomberg survey.
Itron Inc. (ITRI US) rose 9 percent, the most since May 2009, to $64.14. The maker of utility meters was added to a short-term buy list at Deutsche Bank AG, Carter Shoop, the analyst, said in an e-mail. In a report today, Shoop said Itron replaces ESCO Technologies Inc. (ESE US) as its favorite smart- grid stock. ESCO jumped 9.6 percent to $40.51 after reporting first-quarter results and forecasting sales will increase as much as 15 percent this year.
JDS Uniphase Corp. (JDSU US) soared 27 percent to $22.76 for the biggest rally in the S&P 500. The biggest network- analysis company in the U.S. beat analysts’ projections for per- share second-quarter earnings excluding some items by 49 percent. Third-quarter revenue will be at least $440 million and as much as $460 million, the company said. Analysts project $420.9 million, on average.
Las Vegas Sands Corp. (LVS US) declined 8.5 percent, the most since June 29, to $46.03. The U.S. casino company expanding in Asia posted fourth-quarter sales that missed analyst estimates.
NCR Corp. (NCR US) rose 7 percent to $18.29, the highest price since November 2008. The maker of teller machines forecast 2011 profit excluding some items of $1.65 to $1.75 a share, compared with the average analyst estimate of $1.63.
Opnext Inc. (OPXT US) rose the most in the Russell 2000 Index, surging 29 percent to $2.57. The maker of optical components for communications networks forecast fourth-quarter sales of at least $97 million, topping the average analyst estimate of $92.7 million in a Bloomberg survey.
Power-One Inc. (PWER US) slumped 21 percent to $9.26 for the biggest retreat in the Russell 2000 Index. The maker of electrical inverters forecast first-quarter sales of $290 million at most, trailing the average analyst estimate of $310.2 million in a Bloomberg survey.
Silicon Image Inc. (SIMG US) gained 16 percent to $8.93, the highest price since May 2007. The designer of chips that transmit television signals projected first-quarter revenue of at least $47 million, beating the average analyst estimate of $43.6 million in a Bloomberg survey.
Stericycle Inc. (SRCL US) gained 5.8 percent to $83.63, the highest price since it went public in 1996. The specialist in the disposal of medical waste was raised to “outperform” from “neutral” at Wedbush Securities Inc.
Toreador Resources Corp. (TRGL US) slumped 9.5 percent, the most since May, to $15.02. French concerns about environmental damage from shale oil exploration around Paris have created a “climate of uncertainty” for companies such as Toreador, Bruno Ageorges, head of the exploration and production arm of France’s Union Francaise des Industries Petrolieres business group, said.
Tyson Foods Inc. (TSN US) gained 5.7 percent to $18.56, the highest price since June. The largest U.S. meat processor reported fiscal first-quarter profit of 75 cents a share, excluding a 3-cent gain from the sale of interests in an investment, topping the 62-cent average estimate of 15 analysts in a Bloomberg survey.
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