Duncan Energy, Jabil, Lumber Liquidators: 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.
Energy stocks advanced and airlines dropped as oil surged to the highest level since October 2008. Libya’s violent uprising threatened to disrupt exports from Africa’s third- biggest supplier and spread to other crude-producing nations in the Middle East.
Chevron Corp. (CVX US) rose the most in the Dow Jones Industrial Average, adding 1.9 percent to $102.77. Range Resources Corp. (RRC US) climbed 7.4 percent to $52.25. Denbury Resources Inc. (DNR US) increased 3.3 percent to $23.56. EOG Resources Inc. (EOG US) advanced 5.6 percent to $114.39. Chesapeake Energy Corp. (CHK US) jumped 7.3 percent to $34.33.
Cabot Oil & Gas Corp. (COG US) rose the most in the S&P 500, climbing 12 percent to $44.78. The Houston-based natural gas producer reported fourth-quarter sales of $216.9 million, beating the average analyst estimate of $212.4 million in a Bloomberg survey. Raymond James Financial Inc. boosted the stock to “market perform” from “underperform.”
Central European Media Enterprises Ltd. (CETV US) jumped 7 percent, the most since Sept. 13, to $19.22. The East European broadcaster partly owned by Time Warner Inc. said its fourth- quarter loss narrowed after restructuring and as advertisers increased spending in certain markets.
Chico’s FAS Inc. (CHS US) rose 9 percent to $13.15, the highest price since May 18. FBR Capital Markets said the women’s clothing retailer expects to earn more than $1 a share this year, which would beat FBR’s 86-cent estimate.
DirecTV (DTV US) rose 1.8 percent to $45.03, the highest intraday price since March 2000. The largest U.S. satellite- television provider posted fourth-quarter profit that beat analysts’ estimates on rising demand for high-definition and digital-video recording services.
Duncan Energy Partners LP (DEP US) surged 24 percent to $40.40, the highest price since its January 2007 initial public offering. Enterprise Products Partners LP (EPD US), the biggest U.S. pipeline partnership, offered to reacquire its former subsidiary in an all-stock deal that values the company at $2.41 billion.
Endologix Inc. (ELGX US) had the third-biggest gain in the Russell 2000 Index, surging 11 percent to $6.08. The medical device maker said that it had net income of 15 cents a share in the fourth quarter. Analysts, on average, estimated a loss of 1 cent a share, according to a Bloomberg survey.
Fluor Corp. (FLR US) dropped 3.1 percent to $68.39, the lowest price since Jan. 28. The largest publicly traded U.S. construction company reported fourth-quarter profit that missed analysts’ estimates after an expense related to a U.K. wind farm and lower revenue from oil and gas projects.
Frontier Communications Corp. (FTR US) fell 7.4 percent, the most since March 2009, to $8.52. The phone company serving rural U.S. markets reported fourth-quarter earnings of 5 cents a share, missing the average analyst estimate by 41 percent, according to Bloomberg data.
Grand Canyon Education Inc. (LOPE US) slumped 11 percent to $15.09, the lowest price since June 2009. The for-profit college posted quarterly sales that fell short of the average analyst projection, according to data compiled by Bloomberg.
Herbalife Ltd. (HLF US) advanced 10 percent to $76.90, the highest price since its initial public offering in December 2004. The seller of nutritional and weight-loss supplements forecast first-quarter profit of at least $1.17 a share, exceeding the average analyst estimate of $1.10 in a Bloomberg survey.
Hewlett-Packard Co. (HPQ US) declined 9.6 percent to $43.59 for the biggest retreat in the S&P 500. The world’s largest computer maker forecast second-quarter profit and sales that missed analysts’ predictions as a slowdown in consumer spending throttled growth.
Jabil Circuit Inc. (JBL US) slipped 6 percent to $19.80, the lowest price since Jan. 25. The St. Petersburg, Florida- based electronics manufacturer had its 2011 earnings estimate reduced by JPMorgan Chase & Co. after the company acquired some money-losing businesses in France and Italy.
Lumber Liquidators Holdings Inc. (LL US) fell 11 percent, the most since Nov. 4, to $24.44. The discount seller of hardwood flooring forecast 2011 earnings excluding some items of as little as $1.10 a share. Analysts, on average, estimated profit of $1.27, according to a Bloomberg survey.
Netflix Inc. (NFLX US) dropped 4.7 percent to $211.20, the lowest price since Jan. 27. The DVD-rental and streaming company was cut to “underperform” from “hold” at Needham & Co.
Nordson Corp. (NDSN US) jumped 12 percent to a record $108.46. The maker of adhesive equipment posted earnings and sales that beat the average estimate, Bloomberg data show. The company also forecast second-quarter earnings and sales that exceeded analyst projections.
OmniVision Technologies Inc. (OVTI US) slumped 10 percent, the most since December 2009, to $22.87. The maker of image sensors for camera phones lost a “significant” market share in personal computers as well as in China late last year, and its new sensor may not be ready by the time Apple Inc.’s (AAPL US) iPhone 5 is introduced, Robert W. Baird & Co. analyst Tristan Gerra wrote in a note to clients.
Satcon Technology Corp. (SATC US) slumped 27 percent, the most since its 1992 IPO, to $3.54. The maker of solar-power and fuel-cell inverters forecast first-quarter revenue of no more than $70 million. That compares with the $74.9 million average that analysts surveyed by Bloomberg project.
Synovis Life Technologies Inc. (SYNO US) climbed 11 percent, the most since May 2009, to $18.45. The maker of medical devices posted first-quarter profit excluding some items of 14 cents a share, beating the average estimate of two analysts by 33 percent, according to Bloomberg data.
Vertex Pharmaceuticals Inc. (VRTX US) rose the most in the Russell 1000 Index, rallying 15 percent to $43.97. The company said in a statement its experimental drug for cystic fibrosis improved breathing and kept other symptoms from growing worse.
Washington Post Co. (WPO US) fell 5.9 percent to $414.55, the lowest price since Dec. 10. The diversified media company said fourth-quarter profit slipped 3.3 percent after sales declined in its education unit, which is facing government scrutiny, and advertising revenue at its newspaper business dropped.
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