DeVry, Fresh Market, Joy Global, Orbitz, Sealed Air: 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.
For-profit colleges rallied as the U.S. Education Department gave the industry more time to comply with rules that will cut off federal aid to institutions whose students struggle the most to repay their government loans.
ITT Educational Services Inc. (ESI) soared 21 percent to $85.67. Career Education Corp. (CECO) rose 5.4 percent to $24.10. Strayer Education Inc. (STRA) gained 19 percent to $144.95. Apollo Group Inc. (APOL) advanced 11 percent to $46.90. DeVry Inc. (DV) rose 15 percent to $61.86.
Corinthian Colleges Inc. (COCO) jumped 27 percent to $5.06. Education Management Corp. (EDMC) increased 22 percent to $24.76. Grand Canyon Education Inc. (LOPE) advanced 9 percent to $13.97. Bridgepoint Education Inc. (BPI) rose 3.4 percent to $24.48. Capella Education Co. (CPLA) climbed 3.3 percent to $49.58.
Washington Post Co. (WPO) , owner of the Kaplan for- profit education business, advanced 5 percent to $426.42.
Cyberonics Inc. (CYBX) retreated 10 percent, the most since August 2008, to $29.05. The maker of a nerve-stimulating device to treat epilepsy posted fourth-quarter earnings of 26 cents a share, missing analysts’ average estimate by 10 percent, Bloomberg data show.
Exide Technologies (XIDE) fell 24 percent to $7.36 for the biggest retreat in the Russell 2000 Index. The producer of lead-acid batteries reported fourth-quarter profit excluding some items of 15 cents a share, missing the average of analyst estimates by 46 percent.
Fresh Market Inc. (TFM) slumped 12 percent to $35 for the biggest decline since its initial public offering in November 2010. The Greensboro, North Carolina-based grocery chain forecast earnings in fiscal 2012 will be as little as $1.01 a share, falling short of the average analyst estimate of $1.05.
Hill International Inc. (HIL) rallied the most in the Russell 2000 Index, jumping 59 percent to $6.93. The construction consulting firm said it received contracts from TRAC Development Group to provide project and construction management services for a housing development in Iraq. The contracts are worth $1.5 billion, Hill said.
Horizon Lines Inc. (HRZ) rose 20 percent to $1.22 for its biggest gain since May 24. The shipping company agreed to give bondholders more than half of the company’s common stock under a plan that will allow Horizon to refinance its debt.
Joy Global Inc. (JOYG) gained 5.4 percent, the most since Dec. 15, to $90.51. The mining-equipment maker reported second-quarter profit of $1.52 a share. Analysts surveyed by Bloomberg had estimated earnings of $1.35 a share on average.
Microvision Inc. (MVIS) jumped 5.6 percent, the most since April 29, to $1.28. The developer of ultra-miniature projection display products said its SHOWWX+ laser pico projector will be sold at Apple Inc.’s (AAPL US) online stores in Europe, Middle East and Africa, starting this month.
Orbitz Worldwide Inc. (OWW) surged 29 percent, the most since October 2008, to $2.85. AMR Corp. (AMR)’s American Airlines must allow the online travel company to resume selling the carrier’s tickets, a judge in Chicago ruled.
Sealed Air Corp. (SEE) sank 6 percent, the most in the Standard & Poor’s 500 Index, to $22.40. The maker of Cryovac food packaging, Jiffy protective mailers and medical supplies such as sterile sealed packaging is handing Clayton Dubilier & Rice LLC an almost $1 billion windfall at the expense of its own shareholders by paying a 52 percent premium for Diversey Holdings Inc., according to data compiled by Bloomberg.
Vera Bradley Inc. (VRA) tumbled 14 percent, the most since its IPO in October 2010, to $41.17. The seller of women’s fashion accessories said its first-quarter gross margin was 55.7 percent, down from 57.4 percent a year earlier.
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