Belo, Funtalk, LoJack, Warren Resources: 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.
The following index changes were announced by Standard & Poor’s:
Edwards Lifesciences Corp. (EW) will replace Qwest Communications International Inc. (Q) in the S&P 500, The Cooper Cos. (COO) will move to the S&P MidCap 400 from the S&P SmallCap 600 and Koppers Holdings Inc. (KOP) will replace Cooper Cos. in the S&P SmallCap 600, all after the close of trading on March 31.
Edwards gained 3.6 percent to $88.50. Cooper rose 2.3 percent to $69.35. Koppers jumped 8 percent to $41.99.
Accenture Plc (ACN) rose 4.5 percent to $54.29, the highest price since going public in July 2001. The world’s second-largest technology-consulting firm said its 2011 forecast was $3.22 a share to $3.30 a share, more than the estimated $3.13 cents a share.
Belo Corp. (BLC US) rose 12 percent, the most since September 2009, to $8.49. The owner of television and cable news stations was rated “outperform” in new coverage at Wells Fargo Securities LLC.
Best Buy Co. (BBY) slipped 3 percent to $29.22, the third-biggest drop in the Standard & Poor’s 500 Index. The world’s largest consumer electronics retailer was cut to “sell” from “hold” at Citigroup Inc. JPMorgan Chase & Co. lowered its price target to $35 a share from $37. Goldman, Sachs & Co. cut its price target by $2 to $34.
Body Central Corp. (BODY) surged 25 percent to $23.20, the biggest gain in the Russell 2000 Index. The woman’s clothing retailer said 2011 earnings-per-share would be between $1.08 a share and $1.12 a share, more than the forecast 96 cents a share.
Bristol-Myers Squibb Co. (BMY) rose 3.3 percent, the biggest gain since June 7, to $27.29. The pharmaceutical company won U.S. approval for ipilimumab, the first drug in a new family of medicines to treat advanced melanoma, the most deadly form of skin cancer.
Charming Shoppes Inc. (CHRS US) jumped 15 percent to $3.98, the highest price since Oct. 13. The women’s apparel retailer reported was raised to “buy” from “hold” at Soleil Securities Corp. with a 12-month price estimate of $5.50 a share.
Eastman Kodak Co. (EK US) rose 8.6 percent, the most since Dec. 9, to $3.40. The camera company said a victory in a patent fight with Apple Inc. and Research in Motion Ltd. (BB) may add more than $1 billion in revenue from royalty payments, Chief Executive Officer Antonio Perez said in an interview. A decision is scheduled for about 5 p.m.
Finish Line Inc. (FINL) advanced 4 percent, the most since Feb. 3, to $19.13. The athletic apparel retailer said adjusted fourth-quarter profit was 65 cents a share, in line with the average of eight estimates in a Bloomberg survey.
Funtalk China Holdings Ltd. (FTLK US) jumped 8.1 percent, the most since Nov. 24, to $6.65. The operator of the mainland’s second-biggest chain selling mobile phones said its board received a “preliminary non-binding proposal” from a group including Arch Digital Holdings Ltd. to acquire all outstanding shares in a “going private” transaction for $7.10 per ordinary share.
Holly Corp. (HOC US) rose 6.3 percent to $59.81, the most in the Russell 1000 Index. The fourth-largest U.S. independent refiner was raised to “buy” from “neutral” at Bank of America Merrill Lynch.
Hyperdynamics Corp. (HDY) declined 14 percent, the most since Jan. 25, to $5.19. The oil and gas exploration company said it intends to sell shares and has hired Rodman & Renshaw Capital Group Inc. to manage the offering.
LoJack Corp. (LOJN) dropped 14 percent, the most since April 2009, to $4.26. The maker of electronic devices to track stolen cars was cut to “neutral” from “overweight” at JPMorgan Chase & Co. with a 12-month price estimate of $7 a share.
Research In Motion Ltd. (RIMM US) slid 11 percent, the most since September 2009, to $56.89. The BlackBerry maker projected first-quarter earnings of $1.47 to $1.55, while analysts surveyed by Bloomberg estimated an average profit of $1.66 a share.
Synnex Corp. (SNX) lost 7.9 percent, the most since April 2009, to $31.47. The distributor of computer products said earnings before expenses may be as low as 77 cents and no more than 81 cents in the second quarter. Analysts forecast 81 cents, on average Bloomberg data show.
Warren Resources Inc. (WRES) rose 11 percent, the most since September 2009, to $5.10. The developer of oil and gas properties was raised to “buy” from “neutral” at Pritchard Capital Partners LLC with a 12-month price estimate of $6.20 a share.
Wet Seal Inc. (WTSLA US) rose 13 percent, the most since November 2008, to $4.01. The apparel chain for teenage girls posted fourth-quarter earnings that exceeded the average analyst estimate, according to a Bloomberg survey.
Zebra Technologies Corp. (ZBRA) increased 4.5 percent, the most since Nov. 4, to $39.87. The maker of bar-code printers was raised to “neutral” from “underweight” at JPMorgan Chase & Co. analyst Paul Coster.
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