Leap Wireless, Netflix, Princeton Review: 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.
Casino companies declined after the Las Vegas Casino Gaming Commission said gambling revenue on the Las Vegas strip fell 2.49 percent in January. Boyd Gaming Corp. (BYD) slid 3.9 percent to $9.50. Las Vegas Sands Corp. (LVS) retreated 5.5 percent to $39.89. MGM Resorts International (MGM) sank 4.8 percent to $12.87. Penn National Gaming Inc. (PENN) decreased 3 percent to $36.13. Wynn Resorts Ltd. (WYNN) slipped 3.9 percent to $123.09.
Energy stocks declined after crude oil in New York fell on concern that the global economic recovery and fuel-demand growth will slow.
Exxon Mobil Corp. (XOM) slipped 3.6 percent to $81.38. Range Resources Corp. (RRC) erased 4.9 percent to $47.14. Tesoro Corp. (TSO) dropped 4.8 percent to $22.60. National Oilwell Varco Inc. (NOV) retreated 5.8 percent to $73.75. SandRidge Energy Inc. (SD) sank 6.9 percent to $10.05. GeoResources Inc. (GEOI US) slumped 10 percent to $25.98 after reporting fourth-quarter earnings that missed analysts’ estimates.
Valero Energy Corp. (VLO) slipped 5 percent to $26.32. The largest U.S. oil refiner plans to buy Chevron Corp. (CVX)’s U.K. refinery for about $2 billion, said two people with knowledge of the deal. Chevron fell 3 percent to $99.08.
AFC Enterprises Inc. (AFCE US) declined 5.9 percent, the most since Sept. 7, to $14.28. The operator of the Popeyes Chicken & Biscuits restaurants forecast 2011 earnings excluding some items of 95 cents a share at most. That trailed the average analyst estimate of $1.02 in a Bloomberg survey.
Archipelago Learning Inc. (ARCL US) fell 19 percent to $8.70, the biggest decline since its initial public offering in November 2009. The subscription-based education company forecast sales this year to be as low as $68 million, below the $71 million projection by analysts. The Dallas-based company was cut to a “neutral” from “outperform” by Robert w. Baird & Co.
Canadian Solar Inc. (CSIQ) dropped 18 percent, the most since December 2008, to $11.22. The maker of solar power cells and modules reported fourth-quarter earnings of 58 cents a share, missing the 64-cent a share average of analyst estimates in a Bloomberg survey.
SunPower Corp. (SPWR) fell 6.9 percent to $14.66, the second-biggest decline in the Russell 1000 Index.
Coldwater Creek Inc. (CWTR US) declined 10 percent to $2.61, the lowest price since March 2009. The women’s clothing retailer posted a fourth-quarter loss of 37 cents a share, 45 percent wider than the average analyst estimate, Bloomberg data show.
Dendreon Corp. (DNDN) increased 2.1 percent to $32.91, for the biggest gain since Feb. 4. The U.S. Food and Drug Administration approved the remainder of the drugmaker’s New Jersey manufacturing facility, allowing the company to significantly increase the availability of Provenge to treat types of prostate cancer.
FX Energy Inc. (FXEN) slumped 11 percent to $7.06, the lowest price since Jan. 20. The Salt Lake City-based energy producer will sell 6 million shares to fund a portion of its 2011 and 2012 capital budget and to accelerate planned exploration and development activities in Poland, the company said in a statement.
HCA Holdings Inc. (HCA) rose 3.4 percent to $31.02 on the first day of trading. The hospital chain completed a record $3.79 billion, private equity-backed initial public offering after selling 126.2 million shares at $30 each.
H&R Block Inc. (HRB) advanced 4.3 percent to $15.84, the highest price since June 28. The biggest U.S. tax preparer posted a third-quarter profit of 6 cents a share excluding some items, beating the projected profit of 5 cents a share, according to the average of eight estimates in a Bloomberg survey.
Human Genome Sciences Inc. (HGSI US) rose 13 percent, the most since November 2009, to $29.03. The drugmaker and GlaxoSmithKline Plc (GSK LN) won U.S. approval to sell Benlysta, a potential $3.6 billion product that will be the first new drug in 52 years for the auto-immune disease lupus.
Iron Mountain Inc. (IRM) gained 5.2 percent to $27.66, the most intraday since February 2010. Elliott Management Corp. said it called for a strategic review of the records management provider’s capital allocation and nominated four independent people to the company’s board. The hedge fund holds less than 5 percent of Iron Mountain’s stock.
Leap Wireless International Inc. (LEAP US) rose 9.5 percent, the most since May 12, to $13.69. Shareholder Pentwater Capital Management nominated three executives to the pay-as-you-go mobile-phone carrier’s board.
Micron Technology Inc. (MU) slipped 3.8 percent to $9.93, the lowest price since Jan. 21. The largest U.S. maker of computer-memory chips and other semiconductor companies may face a “significant” risk of declines in the second half of 2011 because of a glut of supply, Goldman Sachs Group Inc. said in a note.
NetApp Inc. (NTAP) declined 6.1 percent to $48.41, the lowest price since Oct. 11. The maker of data-storage products agreed to buy the Engenio external-storage systems business of LSI Corp. (LSI US) for $480 million in cash, the Sunnyvale, California-based company said today in a statement.
Netflix Inc. (NFLX) climbed 3.6 percent to $200.02 for its biggest gain since Feb. 14. The mail-order and online movie-rental service doesn’t view Warner Bros.’ plan to offer $3 film rentals on Facebook as a greater threat than other rivals pose, Chief Content Officer Ted Sarandos said in an interview at a film finance conference in Los Angeles.
Peet’s Coffee & Tea Inc. (PEET US) slumped 11 percent, the most since November 2009, to $42.53. The maker of whole bean coffee was cut to “sell” from “buy” at Janney Montgomery Scott LLC.
Princeton Review Inc. (REVU US) sank 38 percent to 51 cents, the most intraday since its initial public offering in 2001. The test-preparation services provider fell after reporting a fourth-quarter loss and forecasting 2011 results that disappointed some investors, according to Frank McEvoy, senior research analyst at Craig-Hallum Capital Group LP.
RC2 Corp. (RCRC US) soared 16 percent, the most since April 2009, to $25.51. Tokyo-based toy manufacturer Tomy Co. is planning to purchase RC2 Corp., maker of Thomas the Tank Engine, for an estimated 50 billion yen ($602 million), Nikkei English News reported.
Semtech Corp. (SMTC) gained 11 percent, the most since May 2009, to $25.01. The semiconductor maker reported fourth-quarter earnings of 47 cents a share excluding some items, beating the average analyst estimate by 14 percent, Bloomberg data show.
Siga Technologies Inc. (SIGA) fell 18 percent, the most since December 2009, to $12.56. The U.S. pharmaceutical company developing products to fight bio-warfare pathogens posted a fourth-quarter loss excluding some items of 29 cents a share, wider than the 7-cent estimate from analysts in a Bloomberg survey.
Starbucks Corp. (SBUX) climbed 9.9 percent, the most since July 2009, to $37.97. The Seattle-based coffee chain and Green Mountain Coffee Roasters Inc. (GMCR) agreed to put Starbuck’s products in Green Mountain single-serve Keurig brewing systems. Green Mountain soared a record 41 percent to $61.71.
Stein Mart Inc. (SMRT) rose 5.8 percent to $9.33, the highest price since Jan. 3. The clothing retailer posted fourth-quarter profit of 32 cents a share, excluding some items, beating the average analyst estimate by 52 percent, Bloomberg data show.
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