Expedia, Flotek, GenCorp, Puda Coal, QLT: 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.
Airlines declined as crude oil climbed above $112 a barrel in New York for the first time in 30 months. United Continental Holdings Inc. (UAL) slipped 5.8 percent to $19.79 for the biggest loss in the Russell 1000 Index. AMR Corp. (AMR) fell 4.5 percent to $5.77. Delta Air Lines Inc. (DAL) fell 3.9 percent to $9.04.
Basic Energy Services Inc. (BAS) rose 8 percent to $26.07, the highest price since September 2008. The provider of services for the oil-drilling industry said its rig utilization rate increased to 70 percent in March from 53 percent a year earlier.
Blyth Inc. (BTH) rose 10 percent, the most since April 2010, to $41.01. Douglas M. Lane, a Jefferies Group Inc. (JEF) analyst, said the maker of candles and decorations posted fourth-quarter profit excluding some items of $2.28 a share, beating his estimate of $2.06.
China Automotive Systems Inc. (CAAS) rallied 33 percent, the most since November 2006, to $10.79. The maker of steering components for cars reported fourth-quarter sales of $100.5 million, beating the average analyst estimate of $90.6 million in a Bloomberg survey.
CVS Caremark Corp. (CVS) added 2.1 percent to $36.23, the highest price since May 13. The largest U.S. provider of prescription drugs could be worth $25 billion more if the company split itself up, using its rivals’ valuations, according to data compiled by Bloomberg.
Expedia Inc. (EXPE) jumped 13 percent to $25.30 for the biggest increase in the Standard & Poor’s 500 Index. The online travel agency said it plans to split into two by separating its TripAdvisor unit into a publicly traded company.
Flotek Industries Inc. (FTK) rose 8.5 percent to $9.19, the highest price since October 2008. The maker of equipment for the oilfield services industry is scheduled to make a presentation at the Independent Petroleum Association of America Oil & Gas Investment Symposium on April 11.
GenCorp Inc. (GY) jumped 13 percent, the most since August 2009, to $6.89. The maker of spacecraft parts said Dave Caldwell will expand his role in the Aerojet unit’s missile defense and strategic business.
Hercules Offshore Inc. (HERO) sank 11 percent, the most since Oct. 6, to $5.66. The Houston-based offshore drilling company said it was subpoenaed by the Securities and Exchange Commission in a probe of possible violations of the Foreign Corrupt Practices Act. The Justice Department is also probing the company, Hercules said.
Idenix Pharmaceuticals Inc. (IDIX) slumped 10 percent to $2.90 for its biggest decline since Feb. 10. The biopharmaceutical company registered to offer an additional $9.83 million in common stock and will sell $5 million in shares to Novartis AG through a private placement, according to filings with the Securities and Exchange Commission.
LivePerson Inc. (LPSN) gained 5.8 percent, the most since Jan. 14, to $13.24. The customer service software maker will fill Oil States International Inc. (OIS)’s spot in the S&P SmallCap 600 index, after the close of trading on April 14, S&P said in a statement.
Puda Coal Inc. (PUDA) slumped 34 percent, the most since November 2006, to $6. The Chinese coal company’s Chairman Ming Zhao “secretly” sold half the company and pledged the other half to Chinese private-equity investors, according to blogger Alfred Little, who said he’s selling the stock short, a bet the share price will drop. Puda Coal said it’s reviewing the allegations and will provide a formal response as soon as possible.
QLT Inc. (QLTI) rose 8 percent, the most since November 2009, to $7.83. The developer of pharmaceutical products for use in photodynamic therapy was rated “outperform” in new coverage at Leerink Swann & Co.
Seagate Technologies Plc (STX US) advanced 7.8 percent to $15.84, the highest price since Oct. 18. The world’s largest maker of computer disk drives said it would pay a quarterly dividend of 18 cents and reported third-quarter sales that topped analysts’ predictions.
Western Digital Corp. (WDC) , a rival, climbed 2.7 percent to $38.80.
Spirit Aerosystems Holdings Inc. (SPR) slipped 4.4 percent, the most since Nov. 2, to $24.03. The maker of aircraft parts announced a public secondary offering of 10.3 million shares.
Tempur-Pedic International Inc. (TPX) surged 12 percent to $57.17, the second-biggest gain in the Russell 1000 Index. The maker of luxury mattresses forecast first-quarter and annual sales and earnings that exceeded the average analyst estimate, data compiled by Bloomberg show.
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