Citadel Broadcasting, Orbitz, Strayer: 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.
3D Systems Corp. (TDSC US) rose the most in the Russell 2000 Index, rallying 40 percent to $49.36. The maker of systems to create three-dimensional models reported fourth-quarter sales of $51.6 million, beating the average analyst estimate by 13 percent, according to Bloomberg data.
Ameresco Inc. (AMRC US) slipped 4 percent to $14.54, the lowest price since Dec. 31. The energy-services company forecast 2011 earnings of 79 cents a share at most, trailing the average analyst estimate of 83 cents in a Bloomberg survey.
American Express Co. (AXP US) fell 2.3 percent to $45.78 for the biggest loss in the Dow Jones Industrial Average. The biggest U.S. credit-card issuer by purchases may face a reduction of interchange fees because of a likely settlement in the merchant litigation related to credit interchange, Moshe Orenbuch, an analyst at Credit Suisse AG, wrote in a report. Such fees represent 60 percent of the company’s annual revenue, he estimated.
Cabela’s Inc. (CAB US) climbed 11 percent to $31.19, the highest price since it went public in June 2004. The maker of hunting, fishing and camping gear said it expects earnings this year to meet or exceed analysts’ estimates.
Citadel Broadcasting Corp. (CDELB US) climbed 12 percent, the most since at least Aug. 17, to $34.16. The radio broadcaster said it is talks to be bought by Cumulus Media Inc. (CMLS US) for $37 in cash and Cumulus stock for each Citadel share and warrant. Cumulus rose 11 percent to $4.78.
Cliffs Natural Resources Inc. (CLF US) rose 7.2 percent to $99.52 for the third-biggest advance in the Standard & Poor’s 500 Index. North America’s largest iron-ore producer reported fourth-quarter earnings of $2.25 a share excluding some items. Analysts surveyed by Bloomberg on average estimated $2.22 a share. The company also boosted its 2011 North American iron-ore sales forecast to about 28 million tons.
Cowen Group Inc. (COWN US) fell 7 percent, the most since Jan. 19, to $4.39. The investment bank said it will acquire LaBranche & Co. (LAB US) for $192.8 million in stock. Each LaBranche shareholder will receive 0.9980 shares, valued at $4.71 based on Cowen’s closing stock price, about 16 percent more than the closing price yesterday. LaBranche gained 4.9 percent to $4.26.
Cray Inc. (CRAY US) fell 9.2 percent, the most since Oct. 28, to $7.50. The Seattle-based maker of supercomputers forecast 2011 sales of $340 million at most, missing the average estimate of $342.5 million from two analysts in a Bloomberg survey.
Dr Pepper Snapple Group Inc. (DPS US) increased 5.7 percent, the most since February 2010, to $36.20. The maker of 7Up and Canada Dry brands reported fourth-quarter adjusted earnings of 67 cents a share, beating the average analyst estimate by 3 cents.
Ecolab Inc. (ECL US) declined 5.3 percent, the most since Oct. 26, to $47.12. The maker of cleaning chemicals for hotels and restaurants forecast first-quarter earnings to be no more than 45 cents a share, missing the 48-cent average estimate by analysts.
EHealth Inc. (EHTH US) advanced 15 percent, the most since February 2008, to $13.41. The company that sells insurance over the Internet posted fourth-quarter profit excluding some items of 28 cents a share, topping the average analyst estimate by 70 percent, according to Bloomberg data.
El Paso Corp. (EP US) climbed 3.7 percent to $18, the highest price since July 2008. The owner of the longest U.S. natural-gas pipeline network was boosted to “outperform” from “market perform” at Raymond James Financial Inc.
Ion Geophysical Corp. (IO US) surged 23 percent, the most since October 2009, to $12.17. The oilfield-services provider said a final court judgment on its patent infringement lawsuit ruled that Sercel Inc. is prohibited from making or selling some digital sensor units in the U.S. and Ion is entitled to additional damages.
Itron Inc. (ITRI US) fell 10 percent, the most since April 2009, to $57.29. The largest U.S. maker of utility meters forecast 2011 profit a share of as little as $3.95 a share, below the average analyst projection of $4.41 a share, according to Bloomberg data.
Monotype Imaging Holdings Inc. (TYPE US) increased 17 percent to $13.59, the highest price since June 2008. The developer of text imaging technologies said that, excluding some items, it expects to earn 80 cents a share at least this year. That topped the 78-cent average analyst estimate in a Bloomberg survey.
NetApp Inc. (NTAP US) dropped 6.4 percent to $54.77 for the biggest retreat in the S&P 500. The maker of data-storage products forecast fourth-quarter profit that trailed analyst estimates. Excluding some costs, earnings in the current quarter will be 49 cents to 53 cents a share, below the 54-cents average of analyst projections, according to estimates compiled by Bloomberg.
Newfield Exploration Co. (NFX US) declined 3.3 percent, the most since Aug. 11, to $69.20. The independent oil and gas company posted fourth-quarter earnings excluding some items of $1.16 a share, missing the average analyst estimate by 7.6 percent, Bloomberg data showed.
Nvidia Corp. (NVDA US) rose 9.8 percent to $25.68, the biggest gain in the S&P 500. A maker of graphics chips forecast fiscal first-quarter sales will rise to at least $939.6 million. That compares with the $889.6 million projected by analysts on average, a sign that consumer demand for personal computers is improving.
Orbitz Worldwide Inc. (OWW US) dropped 9.5 percent to $3.62, the lowest price since August 2009. The online travel agency was cut to “underweight” from “neutral” at Piper Jaffray Cos., which also lowered the price estimate to $3.50 from $6.
Revlon Inc. (REV US) increased 21 percent, the most since November 2009, to $13.19. The cosmetics maker controlled by Ronald Perelman reported fourth-quarter net sales of $369.2 million, beating the one analyst estimate of $338 million.
Rubicon Technology Inc. (RBCN US) soared 13 percent, the most since May 10, to $23.79. The maker of crystalline products reported first-quarter earnings excluding some items of 64 cents a share, beating the average of analyst estimates by 31 percent.
Strayer Education Inc. (STRA US) climbed 3 percent to $132.73, the highest price since Jan. 7. The for-profit college forecast first-quarter earnings higher than the average analyst estimate after fourth-quarter earnings surpassed projections.
Syntel Inc. (SYNT US) slipped 4.1 percent, the most since April 22, to $54.21. The manager of software projects for other companies forecast 2011 earnings of $2.90 a share at most, trailing the average analyst estimate of $2.94 in a Bloomberg survey.
Timberland Co. (TBL US) advanced the most since it went public in 1987, surging 30 percent to $38.36. The maker of outdoor clothing and footwear company reported fourth-quarter revenue of $491.1 million, exceeding the $409.7 million projected by analysts.
Vasco Data Security Inc. (VDSI US) gained 13 percent to $9.48, the highest price since January 2009. The maker of security software reported fourth-quarter profit of 17 cents a share, more than double the average analyst estimate in a Bloomberg survey.
Weight Watchers International Inc. (WTW US) rallied 46 percent, the most since it went public in 2001, to $65.39. The weight-control program provider forecast 2011 earnings per share of at least $3.50 excluding some items, beating the average analyst estimate of $2.77.
Williams Cos. (WMB US) had the second-biggest gain in the S&P 500, rising 8.4 percent to $30.08. The fourth-largest U.S. pipeline operator by market value said it plans to separate its exploration and production businesses into two stand-alone, publicly traded companies. The company will also boost its quarterly dividend by 60 percent to 20 cents a share for the first-quarter 2011.
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