Acacia, Ashford, Holly, Medifast, Sunrise: 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.
Acacia Research Corp. (ACTG US) gained 19 percent, the most since April 23, to $28.29. The owner of technology patents said its Lambda Optical Solutions LLC unit settled patent litigation with ECI Telecom.
American International Group Inc. (AIG US) fell 4.7 percent to $38.54, the lowest price since Dec. 8. The bailed-out insurer said it faces increased risk of losses on its $46.6 billion municipal bond portfolio and that defaults could pressure the company’s liquidity.
Ashford Hospitality Trust (AHT US) climbed 12 percent to $10.94, the highest price since July 2007. The Dallas-based real estate investment trust resumed paying a quarterly dividend of 10 cents a share as fourth-quarter earnings exceeded analysts’ estimates.
Autodesk Inc. (ADSK US) rose 5.7 percent, the most since Jan. 5, to $42.75. The maker of software used in bridge design and movie special effects posted fourth-quarter earnings excluding some items of 35 cents a share, beating the average analyst estimate by 5.4 percent, according to Bloomberg data.
Boeing Co. (BA US) climbed 2.2 percent to $72.30 for the second-biggest increase in the Dow Jones Industrial Average. The sole supplier of aerial refueling tankers to the U.S. Air Force since 1948, beat European Aeronautic, Defence & Space Co. for a $35 billion program to build 179 new tankers, the Pentagon said today.
CBS Corp. (CBS US) rose 6.9 percent to $23.54, the highest price since May 2008. The owner of the most-watched U.S. broadcast network was added to the “Best Ideas” list at Morgan Stanley.
CoreLogic Inc. (CLGX US) fell the most in the Russell 1000 Index, sinking 8.5 percent to $18.31. The real estate and financial information company reported a fourth-quarter net loss of 30 cents a share. On that basis, two analysts in a Bloomberg survey expected the company to post a profit.
First Solar Inc. (FSLR US) had the second-biggest loss in the Standard & Poor’s 500 Index, sinking 5.4 percent to $155.72. The world’s largest maker of thin-film solar power said 2011 sales may be as low as $3.7 billion. Analysts estimated $3.76 billion, on average.
Frontier Oil Corp. (FTO US) rose 9.7 percent, the most since May 2009, to $28.03. The refiner had its share-price estimate increased to $30 from $28 at Raymond James Financial Inc., which said a merger with Holly Corp. (HOC US) will strengthen their earnings power.
Holly advanced 9 percent to $57.82.
Hansen Natural Corp. (HANS US) climbed 7.9 percent to $59, the highest price since November 2007. The beverage maker posted fourth-quarter sales of $318.7 million, falling short of analyst estimates, Bloomberg data show.
Intel Corp. (INTC US) had the biggest gain in the Dow Jones Industrial Average, rising 2.7 percent to $21.86. The world’s largest chipmaker was rated “buy” in new coverage by Longbow Research’s analyst Joanne Feeney, who said corporate demand and new products will help propel Intel’s sales and earnings growth into next year.
Interpublic Group of Cos. (IPG US) rose 8.2 percent to $12.57 for the biggest advance in the S&P 500. The New York- based advertising company reported fourth-quarter earnings that topped analysts’ estimates and said it plans to buy back as much as $300 million shares.
IPG Photonics Corp. (IPGP US) jumped 10 percent to $57.26, the highest price since its December 2006 initial public offering. The producer of high-power fiber lasers and amplifiers reported fourth-quarter profit of 56 cents a share, beating the average analyst estimate by 2 cents, Bloomberg data show.
J.C. Penney Co. (JCP US) fell 6.5 percent to $34.16 for the biggest decline in the S&P 500. The third-biggest department- store chain in the U.S. forecast first-quarter profit that would fall short of analysts’ projections as the company winds down its catalog business and shuts outlet stores.
MedAssets Inc. (MDAS US) slumped 34 percent, the most since its December 2007 IPO, to $14.06. The Alpharetta, Georgia-based provider of technology-enabled products and services for hospitals and health systems reported fourth-quarter earnings excluding some items of 18 cents a share. Analysts projected 22 cents on average, Bloomberg data show.
Novatel Wireless Inc. (NVTL US) declined 13 percent to $5.87, the lowest price since Aug. 31. The maker of wireless data-access cards for personal computers said that, excluding some items, it expects a loss of 36 cents a share at least in the first quarter. Analysts estimated the company to earn 4 cents a share, on average, in a Bloomberg survey.
NutriSystem Inc. (NTRI US) dropped 31 percent, the most since October 2007, to $13.89. The provider of prepared meals to help clients lose weight forecast a first-quarter loss of at least 30 cents a share. Analysts, on average, estimated profit of 29 cents, according to a Bloomberg survey.
Medifast Inc. (MED US), another provider of weight loss programs, slipped 9.5 percent to $22.82.
OmniVision Technologies Inc. (OVTI US) rose 32 percent, the most since December 2001, to $31.43. The maker of image sensors for camera phones said fourth-quarter earnings will be at least 57 cents a share and as much as 70 cents. The average analyst estimate is 45 cents a share, Bloomberg data show.
PerkinElmer Inc. (PKI US) slipped 4.4 percent, the most since June 4, to $26.50. The provider of equipment for genetic screening and drug research said in a regulatory filing that reports it has put itself up for sale are inaccurate and a sale of the company isn’t being discussed.
Protalix BioTherapeutics Inc. (PLX US) plunged 18 percent, the most since December 2008, to $7.63. The biotechnology company failed to win U.S. approval of a plant-based medicine it’s developing with Pfizer Inc. to treat an inherited illness that causes fat build-up that can lead to pain, lung disease and brain damage.
Rowan Cos. (RDC US) rose 6.6 percent to $42.45 for the third-biggest advance in the S&P 500. The offshore driller reported fourth-quarter profit excluding some items of 42 cents a share, 46 percent higher than the average analyst estimate, Bloomberg data show. “Favorable conditions now exist” for a spinoff or sale of its manufacturing unit, the company said.
Salesforce.com Inc. (CRM US) advanced 3.4 percent to $138.83, for its biggest gain since Jan. 26. The seller of online customer-relationship management programs posted fourth- quarter profit of 31 cents a share, more than the forecast of 27 cents a share, according to the average of 35 estimates from a Bloomberg survey.
SandRidge Energy Inc. (SD US) rose 15 percent to $10.53 for the biggest increase in the Russell 1000 Index. The oil and natural gas producer boosted its full-year production forecast and said it agreed to sell some properties in New Mexico for $200 million and plans to use the proceeds to pay down some of its debt.
Sunrise Senior Living Inc. (SRZ US) rallied 12 percent to $10.27, the highest price since October 2008. The manager of retirement communities said there is no longer “substantial doubt” of the company’s ability to stay in business.
True Religion Apparel Inc. (TRLG US) climbed 19 percent, the most since May 2009, to $25.07. The seller of jeans reported fourth-quarter profit of 63 cents a share, beating the average analyst estimate of 61 cents in a Bloomberg survey.
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