AeroVironment, F5 Networks, Romarco, Wynn: 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 4 p.m. in New York.
Casino companies gained after sales in Macau, the world’s largest casino hub, rose 48 percent in March. Wynn Resorts Ltd. (WYNN) climbed 4.6 percent to $133.01. Las Vegas Sands Corp. (LVS) added 3.4 percent to $43.65.
AeroVironment Inc. (AVAV) slid 12 percent, the most since February 2010, to $30.82. The maker of low-flying drones for U.S. military forces said its Global Observer unmanned air vehicle undergoing flight test envelope expansion experienced a mishap at Edwards Air Force Base in California today.
Alexander & Baldwin Inc. (ALEX) advanced 19 percent to $54.47, the biggest gain in the Russell 1000 Index. Bill Ackman’s Pershing Square Capital LP reported a stake of about 9.9 percent in the parent of ocean-transport company Matson Navigation and plans to start talks with the company, according to a regulatory filing.
Horizon Lines Inc. (HRZ) , a shipping company that three people said may file for bankruptcy as soon as April, rose the most in the Russell 2000 Index, surging 56 percent to $1.33.
American Apparel Inc. (APP) slipped 6.6 percent to 90 cents, the lowest price since Aug. 31. The Los Angeles-based clothier at risk of default after four straight quarterly losses said its cash shortfall may force the chain to seek bankruptcy protection.
Ascent Solar Technologies Inc. (ASTI) dropped 25 percent, the most intraday since its 2006 initial public offering, to $2.14. The developer of solar modules used in outer space said Chief Executive Officer Farhad Moghadam is stepping down to pursue other interests.
AVI BioPharma Inc. (AVII) fell 17 percent, the most since August 2009, to $1.55. The biotechnology company focusing on cardiovascular and infectious diseases said it intends to sell shares to fund research and development.
Charles River Laboratories International Inc. (CRL) rose 3.2 percent to $39.62, the highest price since April 23, while Covance Inc. (CVD) jumped 5.2 percent, the most since Jan. 12, to $57.54. The medical research companies gained after Wells Fargo & Co. said a recovery in some types of medical studies is under way.
DemandTec Inc. (DMAN) tumbled 15 percent, the most since December 2008, to $11.25. The San Mateo, California-based provider of consumer demand management software was cut to “accumulate” from “buy” at Craig Hallum Capital Group LLC. The 12-month price estimate is $13 a share.
Exfo Inc. (EXF) fell 25 percent, the most since February 2001, to $8.23. The maker of equipment for the telecommunications industry said third-quarter revenue will be no more than $72 million. Analysts project $73.2 million on average, Bloomberg data show.
JDS Uniphase Corp. (JDSU) , the biggest U.S. network- analysis company, slumped 8.3 percent to $19.11, the second- biggest decline in the Standard & Poor’s 500 Index.
F5 Networks Inc. (FFIV) dropped 8.8 percent to $93.56, the biggest decline in the S&P 500. The maker of software to handle Internet traffic and content may cut its earnings forecast for the current quarter by as much as 5 percent because of slowing business momentum, William & Blair Co. said in a note.
Inhibitex Inc. (INHX) gained 31 percent, the most since September 2009, to $4.73. The biopharmaceutical company said its Phase 1B clinical trial of INX-189, an oral necleotide polymerase inhibitor to treat chronic hepatitis C, showed “positive top-line safety and anti-viral data.”
Jones Lang LaSalle Inc. (JLL) advanced 4.1 percent to $103.84, the highest price since October 2007. The world’s second-biggest publicly traded commercial-property broker bought South Africa’s Bradford McCormack & Associates for an undisclosed sum to enter Africa’s largest economy.
Krispy Kreme Doughnuts Inc. (KKD) declined 21 percent, the most since September 2007, to $5.56. The doughnut chain posted fourth-quarter sales that fell short of the average of analyst estimates, Bloomberg data show. The company also reiterated its 2012 forecast for operating income.
Logitech International SA (LOGI) fell 19 percent, the most since July 2003, to $14.71. The world’s biggest maker of computer mice lowered its full-year sales and profit forecasts.
LogMeIn Inc. (LOGM) climbed 9.3 percent to $46.08, the highest price since Jan. 12. The provider of services to remotely connect to computers won a court ruling that it didn’t infringe a patent owned by 01 Communique Laboratory Inc. (ONE CN).
NYSE Euronext (NYX) advanced 13 percent to $39.60, the biggest gain in the S&P 500. Nasdaq OMX Group Inc. (NDAQ) and IntercontinentalExchange Inc. (ICE) offered to buy the owner of the New York Stock Exchange for about $11.3 billion as the companies teamed up in an attempt to snatch the New York Stock Exchange from Deutsche Boerse AG. Nasdaq rose 9.3 percent to $28.23. ICE declined 3.1 percent to $119.75.
CBOE Holdings Inc. (CBOE) , owner of the Chicago Board Options Exchange, fell 5 percent to $27.51. Evercore Partners Inc. cut the stock’s rating to “underweight” from “equal- weight,” saying a pickup in mergers among exchanges left “no potential buyers” for the company.
Office Depot Inc. (ODP) dropped 9.1 percent to $4.21, the biggest retreat in the Russell 1000 Index. The second- largest U.S. office-supply chain forecast first-quarter earnings before interest and taxes to be down 50 percent compared with the year-ago period.
Omeros Corp. (OMER) fell 37 percent, the most since its IPO in 2009, to $5.06. The Seattle biotechnology company said a product’s Phase 3 trial showed it didn’t meet the endpoints of the studies in patients undergoing arthroscopic anterior cruciate ligament reconstruction surgery.
Optimer Pharmaceuticals Inc. (OPTR) gained 11 percent, the most since May 2009, to $13.13. The drugmaker’s antibiotic pill works better than a standard treatment for preventing relapses of potentially fatal intestinal infections often acquired in hospitals, according to U.S. regulators considering whether to clear the drug for sale.
Resources Connection Inc. (RECN) declined 23 percent, the most since September 2007, to $15.01. The provider of legal and accounting services said third-quarter net income was 2 cents a share, falling short of the average analyst estimate of 6 cents, according to Bloomberg data. Revenue also missed projections.
Romarco Minerals Inc. (RTRAF) fell 15 percent, the most since December 2008, to $1.97. The Hill reported that the Environmental Protection Agency opposed the company’s plan for the Haile gold mine in South Carolina.
SRA International Inc. (SRX) rallied 9.5 percent to $31.05, the highest since November 2006. The provider of computer services to the U.S. government agreed to be bought by Providence Equity Partners Inc. for $1.88 billion in cash.
Sunrise Senior Living Inc. (SRZ) dropped 9.1 percent, the most since June 7, to $10.84. The manager of retirement communities was cut to “hold” from “buy” at Stifel Nicolaus & Co.
Xyratex Ltd. (XRTX) fell 15 percent, the most since January 2009, to $9.54. The provider of data storage and network technology said it will earn 6 cents a share at most in the second quarter. Analysts projected a profit of 27 cents a share, Bloomberg data show.
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