AT&T, Nvidia, GSI Commerce, Tokyo Electric: 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.
Solar stocks rallied after Chancellor Angela Merkel’s party said that most of Germany’s oldest atomic reactors will probably close following safety checks, signaling a shift in energy policy after the anti-nuclear Greens surged in state elections. First Solar Inc. (FSLR) climbed 1.9 percent to $153.28. Trina Solar Ltd. (TSL) rose 3 percent to $28.60.
ADA-ES Inc. (ADES) jumped 22 percent, the most since Dec. 17, to $23.85. The company, which helps utilities meet environmental regulations, was lifted to “outperform” from “neutral” by Wedbush Securities Inc.
AT&T Inc. (T) rose the most in the Dow Jones Industrial Average, gaining 1.8 percent to $29.36. The second-largest U.S. wireless carrier was raised to “outperform” from “neutral” at Robert W. Baird & Co.
Leap Wireless International Inc. (LEAP) , a pay-as-you-go mobile-phone carrier that’s boosted to “outperform” from “neutral” at Robert W. Baird, gained 2.2 percent to $15.35.
CNinsure Inc. (CISG) fell 13 percent, the most since Dec. 2, to $11.73. The insurance company and brokerage based in Guangzhou, China, agreed to sell Beijing Fanhua Datong Investment Management to Winner Sight Global Ltd., an affiliated entity of Warburg Pincus LLC for $63.7 million.
Cal-Maine Foods Inc. (CALM) rose 7.7 percent, the most since July 26, to $29.97. The largest U.S. egg producer reported third-quarter earnings of $1.27 a share excluding some items, beating the average analyst estimate by 24 percent, Bloomberg data show.
Eastman Kodak Co. (EK) advanced 5.3 percent to $3.58, the highest price since Feb. 24. The camera company won the latest round in a patent dispute against Apple Inc. and Research in Motion Ltd. The victory may add more than $1 billion in revenue from royalty payments, Chief Executive Officer Antonio Perez said in an interview.
Fuqi International Inc. (FUQI) fell 18 percent to $2.75, the lowest price since its initial public offering in October 2007. The Chinese jewelry maker said it’s conducting an internal investigation into some cash transfer transactions.
Goodyear Tire & Rubber Co. (GT) slumped 5.7 percent, the most since Feb. 22, to $14.57. The largest U.S. tiremaker said it has started a public offering of $435 million of mandatory convertible preferred stock.
GSI Commerce Inc. (GSIC) rose the most in the Russell 2000 Index, soaring 51 percent to $29.20. The builder of e- commerce Web sites agreed to be bought by EBay Inc. (EBAY US) for about $2.4 billion, or $29.25 a share.
Industrial Services of America Inc. (IDSA) rallied 18 percent, the most since March 2010, to $11.82. The solid waste management company said fourth-quarter profit increased to 29 cents a share from 24 cents a year earlier.
Nvidia Corp. (NVDA) climbed 3.7 percent to $19.32, the highest price since March 8. The maker of three dimensional graphics processors was lifted to “market outperform” from “market perform” by JMP Securities LLC.
Marriott International Inc. (MAR US) slid 6.3 percent to $35.30, the biggest loss in the S&P 500. The largest U.S. hotel chain expects first-quarter revenue per available room to rise about 7 percent, at the low end of the company’s forecast of 7 percent to 9 percent. North American demand has been below expectations, the Bethesda, Maryland-based company said.
Parker Drilling Co. (PKD) rallied 11 percent, the most since June 2009, to $6.59. The builder of the world’s largest onshore rig was raised to “outperform” from “market perform” at Wells Fargo Securities.
RadioShack Corp. (RSH) rose the most in the Standard & Poor’s 500 Index, rallying 5 percent to $15.01. The consumer- electronics retailer said it will start selling Apple Inc.’s (AAPL US) iPad2 at 500 locations across the U.S. tomorrow. Separately, Stifel Nicolaus raised RadioShack’s rating to “buy” from “hold.”
Rural/Metro Corp. (RURL US) jumped 36 percent, the most since May 2002, to $17.05. The provider of ambulance and private fire services in 20 states agreed to be bought by Warburg Pincus LLC in a $438 million cash acquisition. Rural/Metro investors will receive $17.25 per share, a 37 percent premium over the March 25 closing price.
Schlumberger Ltd. (SLB) gained 4.1 percent to $90.43, for the second-biggest increase in the S&P 500. The world’s largest oilfield contractor was awarded $100 million in contracts in Iraq and the impact from disruptions from Middle East as well as weather will be 8 cents a share to 10 cents a share, Chief Executive Officer Andrew Gould said at Howard Weil Inc.’s energy conference in New Orleans.
Spectrum Control Inc. (SPEC) surged 40 percent, the most since March 1991, to $19.59. API Technologies Corp. agreed to acquire the electronic products manufacturer for $20 a share.
Tokyo Electric Power Co. (TKECF US) slumped 32 percent to $7.55, the lowest price since 1996. The operator of the stricken Fukushima Dai-Ichi nuclear plant said it found plutonium in soil samples taken near the plant a week ago.
Wabtec Corp. (WAB US) rose 12 percent to a record $66.06. The maker of brake systems forecast first-quarter earnings of at least 77 cents a share, beating the average analyst estimate of 68 cents a share, Bloomberg data show.
Walter Investment Management Corp. (WAC) fell the most in the Russell 2000 Index, sinking 11 percent to $17.08. The Tampa, Florida-based mortgage servicer and investor agreed to acquire GTCS Holdings LLC for $745 million as it expands loan servicing.
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