FactSet, Best Buy, J.C. Penney, Sino-Forest: 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. New York time.
Coal producers advanced after better-than-estimated data on American retail sales and Chinese industrial production. Alpha Natural Resources Inc. (ANR) gained 4.5 percent to $45.75. Peabody Energy Corp. (BTU) added 4.2 percent to $55.47.
AngioDynamics Inc. (ANGO) dropped 6.2 percent to $13.67, the lowest level since September 2009. The maker of devices to treat cancer and heart disease said in a preliminary statement that fourth-quarter profit before certain items was no more than 11 cents a share, compared with analyst estimates for 14 cents a share. The company also said Chief Executive Officer and President Jan Keltjens resigned. Scott Solano will serve as interim CEO.
Best Buy Co. (BBY) climbed 4.6 percent to $30.13, the biggest gain since Sept. 14. The world’s largest consumer electronics retailer reported first-quarter profit that exceeded analysts’ forecasts, helped by rising demand for smartphones. Profit was 35 cents a share in the quarter ended May 28, beating analysts’ prediction of 33 cents, the average estimate in a Bloomberg survey.
Casey’s General Stores Inc. (CASY) climbed 6.7 percent, the most since Sept. 7, to $43.79. The operator of convenience stores reported fourth-quarter profit of 60 cents a share, beating analysts’ estimates.
Demand Media Inc. (DMD) rallied 13 percent to $14.83 for the largest advance since Jan. 26. The Internet content provider was raised to “buy” from “neutral” at Goldman Sachs Group Inc.
Dollar Thrifty Automotive Group Inc. (DTG US) slumped 9.3 percent, the most since October 2009, to $72.43. Avis Budget Group Inc. (CAR) , which has been bidding against Hertz Global Holdings Inc. (HTZ) for the third-biggest U.S. car-rental company, said it agreed to buy Avis Europe Plc, the second-biggest car-rental company on the continent.
Avis rose 7.6 percent to $17.17, while Hertz rallied 9.1 percent to $15.40.
FactSet Research Systems Inc. (FDS) fell 4.2 percent to $99.90 for the biggest retreat in the Russell 1000 Index. The provider of financial data to investment managers and banks forecast fourth-quarter earnings excluding some items of as little as 93 cents a share. Analysts, on average, estimated 95 cents, according to a Bloomberg survey.
GT Solar International Inc. (SOLR US) rallied 9.5 percent to $13.35, the most since June 3. The maker of solar manufacturing equipment raised its first-quarter revenue projection to $225 million from a range of $140 million to $150 million.
Hutchinson Technology Inc. (HTCH) rose 14 percent, the biggest rise since Dec. 22, to $2.35. The maker of parts for disk drives increased its third-quarter forecast, saying it expects shipments to grow 10 percent from the previous three months. The company had previously anticipated shipments to be unchanged.
Western Digital Corp. (WDC) , a maker of computer disk drives, climbed 5.3 percent to $35.36.
J.C. Penney Co. (JCP) jumped 17 percent to $35.37, the biggest gain in the Standard & Poor’s 500 Index. The department-store owner named Ron Johnson, Apple Inc.’s retail head, as its chief executive officer.
KV Pharmaceutical Co. (KV/A US) slumped 22 percent to $2.52, the lowest since May 26. The drug company reported sales of $16.8 million for the quarter ended March. That missed the estimate of $36.4 million by Miller Tabak Roberts Securities.
LML Payment Systems Inc. (LMLP) rose 11 percent to $3.37, the highest price since March 29. The financial payment processor said it earned 25 cents a share in the fiscal fourth quarter, compared with a loss of 1 cent a year earlier.
Majesco Entertainment Co. (COOL) declined 17 percent to $3.64, the most since Jan. 19. The video game publisher boosted its forecast for adjusted 2011 profit to at least 30 cents a share from as much as 25 cents a share.
MEMC Electronic Materials Inc. (WFR US) gained 4.8 percent to $9.09, the most since April 29. The maker of silicon wafers was raised to “neutral” from “sell” by Goldman Sachs Group Inc., which cited “expected cost savings and potential market share gains.”
Rambus Inc. (RMBS) jumped 6.4 percent, the most since May 18, to $14.24. A California judge ruled in an antitrust trial against the Sunnyvale, California-based company that Hynix Semiconductor Inc. and Micron Technology Inc. can’t tell jurors the chip designer shredded documents in anticipation of bringing the case.
Sina Corp. (SINA) rose 6.4 percent to $91.61, the most since April 18. The owner of China’s third-most visited website agreed with China United Network Communications Group, the nation’s second-largest mobile-phone company, to jointly develop microblog-related products to attract users.
Sino-Forest Corp. (SNOFF US) slipped 32 percent to $3.50, the lowest price since September 2006. The forestry company battling a short seller’s assertions of financial manipulation reported first-quarter earnings that trailed analysts’ estimates and said share buybacks are not possible until an investigation is complete.
Wendy’s/Arby’s Group Inc. (WEN) rose 6.4 percent to $4.85, the most since March 3. The third-largest U.S. fast-food chain was raised to “buy” from “neutral” at UBS AG.
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