AES, Boston Scientific, Carnival, Titanium: 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.
Boston Scientific Corp. (BSX) climbed the most in the Standard & Poor’s 500 Index, gaining 5 percent to $7.52. The second-biggest maker of heart devices was raised to “outperform” from “sector perform” by RBC Capital Markets.
Carnival Corp. (CCL) declined 6.1 percent to $40.08 for the third-biggest retreat in the S&P 500. Chief Operating Officer Howard Frank sold 180,000 shares of the world’s biggest cruise-line operator at $42.60 each on Feb. 25, according to a regulatory filing.
Central European Distribution Corp. (CEDC US) dropped the most in the Russell 1000 Index, slumping 37 percent to $14.33. The spirits producer and wholesaler forecast full-year earnings excluding some items of $1.25 a share at most. Analysts, on average, estimated $1.84, according to a Bloomberg survey.
DTS Inc. (DTSI) rose 5.1 percent, the most since Sept. 1, to $47.64. The maker of decoders used in surround-sound systems posted fourth-quarter earnings excluding some items of 37 cents a share, 24 percent higher than the average analyst estimate, Bloomberg data show.
Fifth Third Bancorp (FITB) dropped 4.5 percent, the most since Sept. 7, to $13.95. Ohio’s largest lender said it received a subpoena from the Securities and Exchange Commission requesting information regarding accounting on certain commercial loans.
Fresh Del Monte Produce Inc. (FDP) fell 6.4 percent, the most since March 3, to $26.76. The fruit and vegetable supplier reported fourth-quarter profit of 7 cents a share excluding certain items, missing analysts’ average estimate of 11 cents, according to Bloomberg data.
Novavax Inc. (NVAX) surged 14 percent, the most since Sept. 1, to $2.96. The biotechnology company agreed to license LG Life Sciences Ltd. to manufacture influenza vaccine for the South Korean market.
Range Resources Corp. (RRC) slipped 7.3 percent to $50.34 for the biggest loss in the S&P 500. The natural-gas producer that is one of the biggest landholders in the Marcellus Shale field in Pennsylvania said it will sell 52,000 acres in the Barnett Shale in Texas for $900 million. FBR Capital Markets cut the stock to “market perform” from “outperform” on valuation.
Rosetta Stone Inc. (RST) slid 12 percent to $13.19 the lowest price since its April 2009 initial public offering. The language-software maker forecast a loss of as much as 38 cents a share in the first quarter after earnings in the previous three months missed analysts’ estimates.
Sonus Networks Inc. (SONS) soared 33 percent, the most since November 2002, to $4.04. The maker of voice infrastructure products forecast full-year revenue of $265 million at least, topping the average analyst estimate of $251 million in a Bloomberg survey.
Titanium Metals Corp. (TIE US) declined 6.2 percent to $17.82 for the second-biggest drop in the S&P 500. Rare-earth environmental standards issued yesterday set strict emission limits affecting 60 percent of related companies, China Daily said today.
TNS Inc. (TNS US) fell the most in the Russell 2000 Index, tumbling 17 percent to $15.63. The provider of data communications to credit-card-payment processors forecast first-quarter profit excluding some items of 45 cents a share at most, trailing the average analyst estimate of 55 cents in a Bloomberg survey. Wedbush Securities Inc. reduced the stock’s rating to “neutral” from “outperform.”
Tower Group Inc. (TWGP) dropped 13 percent to $23.78 for the biggest decline since its November 2004 IPO. The insurance provider in the northeastern U.S. forecast 2011 earnings excluding some items of no more than $2.90 a share. Analysts, on average, estimated $3.46, according to a Bloomberg survey.
Vivus Inc. (VVUS) fell 11 percent to $6.78 the lowest price since Dec. 2. The drugmaker had a fourth-quarter per-share loss excluding some items that was greater than analysts projected, Bloomberg data show.
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