Ener1, Learning Tree, Walt Disney, Yahoo: 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.
Commodity producers declined amid concern that rising global inflation will lead to higher interest rates. Freeport- McMoRan Copper & Gold Inc. (FCX US) slid 5.6 percent to $48.27. Exxon Mobil Corp. (XOM) lost 2.1 percent to $81.12. Helmerich & Payne Inc. (HP) retreated 3.5 percent to $58.72.
Alon USA Energy Inc. (ALJ) fell 14 percent, the most since November 2008, to $11.68. The company’s Krotz Springs refinery will be affected if a spillway is opened amid the Mississippi River flooding, according to Lisa Vidrine, director of the St. Landry Parish office of emergency preparedness.
American International Group Inc. (AIG) gained 3.5 percent to $30.65 for the second-biggest gain in the Standard & Poor’s 500 Index. The bailed-out insurer and the U.S. Treasury will offer 300 million shares of common stock in AIG as the company seeks to replace government investment with private capital.
China Yuchai International Ltd. (CYD) plunged 17 percent, the most since November 2008, to $26.12. China’s largest maker of diesel engines reported first-quarter sales of $645.5 million, trailing the estimate of $662 million by one analyst in a Bloomberg survey.
Conceptus Inc. (CPTS) fell 16 percent, the most since July 9, to $12.71. The maker of a female-sterilization method reported a loss of 9 cents a share excluding some items in the first quarter, wider than the 4-cent loss estimate from analysts in a Bloomberg survey.
Ener1 Inc. (HEV) dropped 27 percent, the second-most in the Russell 2000 Index, to $1.78. The maker of electric-car batteries reported first-quarter sales that missed analysts’ estimates. Wunderlich Securities Inc. cut the stock’s rating to “sell” from “hold.”
Globecomm Systems Inc. (GCOM) rose 10 percent to $14.67, the highest price since November 2007. The maker of satellite communications gear has hired JPMorgan Chase & Co. to advise on a possible sale, DealReporter said, citing two industry sources.
Intel Corp. (INTC) rose the most in the Dow Jones Industrial Average, climbing 1.7 percent to $23.41. The world’s largest chipmaker raised its dividend for the second time in six months as increasing corporate spending on technology boosts its earnings.
Intralinks Holdings Inc. (IL) slid 33 percent, the most since it went public in August, to $20.22. The software maker forecast second-quarter profit excluding some items of 11 cents a share at most, trailing the 13-cent average analyst estimate in a Bloomberg survey.
Learning Tree International Inc. (LTRE) rose 9.7 percent, the second-biggest gain in the Russell 2000, to $9.69. The provider of computer classes reported a second-quarter loss of 7 cents a share, beating the average of two analyst estimates that was for a loss of 10 cents a share, according to a Bloomberg survey. The stock was raised to “buy” from “hold” at Stifel Nicolaus & Co.
Macy’s Inc. (M) rose the most in the S&P 500, rallying 7.7 percent to $28.36. The second-biggest U.S. department-store chain boosted its 2011 profit forecast and doubling its dividend, bolstered by surging online sales.
Pegasystems Inc. (PEGA) advanced 8.3 percent, the most since Nov. 10, to $39.83. The developer of customer relationship management software reported first-quarter profit excluding some items of 25 cents a share, beating the average analyst estimate by 51 percent, Bloomberg data show.
Rovi Corp. (ROVI) jumped 18 percent, the most since November 2008, to $58.48. The maker of technology for home- entertainment systems said 2011 earnings excluding some items may be as high as $2.55 a share, more than the average analyst estimate of $2.36.
Stec Inc. (STEC) lost 20 percent, the most since February 2010, to $16.11. The maker of flash-memory drives said profit excluding some items will be no more than 30 cents a share in the second quarter, compared with the average analyst estimate of 32 cents.
Valence Technology Inc. (VLNC) retreated 11 percent, the most since June 29, to $1.17. The maker of rechargeable lithium polymer batteries said Chief Financial Officer Ross Goolsby resigned to pursue other business opportunity.
Walt Disney Co. (DIS) slumped 5.4 percent to $41.52 for the biggest retreat in the Dow Jones Industrial Average. The world’s biggest theme-park operator reported lower second- quarter profit than analysts estimated as a shrinking box- office, park shortfall and the Japanese tsunami overshadowed gains in TV.
Yahoo! Inc. (YHOO US) fell 7.3 percent, the most in the S&P 500, to $17.20. The owner of the largest U.S. Web portal may lose value on its stake in Alibaba Group Holding Ltd. after the payment business of the Chinese Internet company was restructured so that a different company now holds 100 percent of its outstanding shares.
Zagg Inc. (ZAGG) gained 6.8 percent to $10.20, the highest price since Jan. 13. The distributor of electronics accessories increased its 2011 sales forecast to as much as $110 million. Analysts estimated an average $99.9 million in a Bloomberg survey.
To contact the reporter on this story: Nikolaj Gammeltoft in New York at email@example.com
To contact the editor responsible for this story: Nick Baker at firstname.lastname@example.org