Cree, First Solar, Goldman Sachs, Symantec: U.S. Equity Movers
Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 2 p.m. in New York.
Aegean Marine Petroleum Network Inc. (ANW) gained 4.7 percent to $8.85, the highest price since April 21. The Piraeus, Greece-based supplier of fuel for ships reported first-quarter sales of $1.61 billion, beating the average analyst estimate by 9.2 percent, Bloomberg data show.
Cisco Systems Inc. (CSCO) fell 4.8 percent to $16.93 for the biggest retreat in the Standard & Poor’s 500 Index. The largest maker of networking gear forecast profit and sales that may miss analysts’ estimates amid price pressure in the markets for routers and switches, which direct Internet traffic.
Clearwire Corp. (CLWR) fell the most in the Russell 1000 Index, sinking 16 percent to $3.99. Intel Corp. (INTC US) said it will sell 10 million shares of the fourth-generation wireless service provider beginning about May 13.
Cree Inc. (CREE) rallied 6.5 percent to $43.10, the second-biggest gain in the Russell 1000 Index. The maker of energy-efficient lighting “was very upbeat” at a JMP Securities Research conference yesterday about its line of LED products designed to replace less efficient fluorescent lighting, Alex Gauna, a JMP Securities LLC analyst, said in an e-mail.
Dynavox Inc. (DVOX) surged 30 percent to $7.89 for the biggest advance in the Russell 2000 Index. The seller of speech software for people with learning disabilities reported third- quarter sales of $28.7 million, topping the $25 million average estimate by analysts.
First Solar Inc. (FSLR) had the biggest gain in the S&P 500, climbing 6.3 percent to $132.07. The world’s largest maker of thin-film solar modules received positive letters from the U.S. Energy Department on three projects.
Goldman Sachs Group Inc. (GS) fell 3.5 percent to $142.75 for the second-biggest retreat in the S&P 500. The bank was cut to “sell” from “neutral” by Richard Bove, an analyst with Rochdale Securities, who cited pressure on the Justice Department to file a criminal lawsuit against Goldman Sachs after a Rolling Stone Magazine article that the analyst called an “all-out attack.”
NorthStar Realty Finance Corp. (NRF) slipped 3 percent to $4.56, the lowest price since Dec. 16. The real estate investment trust priced an offering of 15 million shares at $4.25 each, raising money to repay debt and fund daily business.
Penson Worldwide Inc. (PNSN) tumbled 21 percent to $3.12 for the biggest decline in the Russell 2000 Index. The securities-clearing firm risks losing customers after the disclosure that the company may have to take a writedown on $97 million owed by customers, spurring concern about the company’s balance sheet, Kenneth Worthington, an analyst with JPMorgan Chase & Co., wrote in a note to clients. The amounts owed are equivalent to almost a third of Penson’s shareholder equity.
Symantec Corp. (SYMC) increased 5.2 percent $20.42 for the second-biggest gain in the S&P 500. The world’s largest maker of security software reported fourth-quarter adjusted earnings of 38 cents a share, exceeding the average analyst estimate by 2 cents.
Tyson Foods Inc. (TSN) rose 4.6 percent, the most since Feb. 4, to $18.84. The biggest U.S. meat processor said it plans to buy back as many as 22.5 million shares.
VeriFone Systems Inc. (PAY) fell 6.7 percent, the most since Oct. 1, to $46.64. The U.S. Justice Department filed a civil antitrust lawsuit to block the maker of payment equipment’s from buying Hypercom Corp. (HYC) , saying in a the deal would hurt competition in the market for point-of-sale terminals. Hypercom declined 12 percent, the most since March 2009, to $9.59.
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