Excel Trust, Vitacost.com, Western Digital: 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 1:45 p.m. New York time.
Energy stocks declined after oil tumbled to the lowest price in four months. The International Energy Agency said its members would release crude from strategic reserves.
Chevron Corp. (CVX) slipped 2.8 percent to $98.28 for the biggest retreat in the Dow Jones Industrial Average. Exxon Mobil Corp. (XOM) fell 2.7 percent to $77.65. Nabors Industries Ltd. (NBR) dropped 2.2 percent to $23.58. Frontline Ltd. (FRO US), the world’s largest operator of supertankers, had the biggest loss in the Russell 1000 Index, erasing 8.8 percent to $15.32.
Airline stocks rose after the price of oil dropped.AMR Corp. (AMR) rose 4.9 percent to $6.03. United Continental Holdings Inc. (UAL) advanced 4 percent to $24.94. U.S. Airways Group Inc. (LCC US) gained 4.9 percent to $8.90. Delta Air Lines Inc. (DAL) rose 3.7 percent to $9.94. Republic Airways Holdings Inc. (RJET) gained 3.8 percent to $4.63. Southwest Airlines Co. (LUV) gained 2.4 percent to $11.28.
Bed Bath & Beyond Inc. (BBBY) rose 4.6 percent to $56.57 after climbing 5.4 percent, the most intraday since April 7. The home furnishings retailer said profit will rise 15 percent to 20 percent in the year ending February 2012, increasing its estimate from a range of 10 percent to 15 percent.
Bristol-Myers Squibb Co. (BMY) jumped 5.6 percent to $29.29 for the biggest gain in the Standard & Poor’s 500 Index. The pharmaceutical company’s blood thinner apixaban, being developed with Pfizer Inc. (PFE) , prevented more strokes with less major bleeding than traditional treatment in patients with irregular heartbeats in a key study. Pfizer rose 2.1 percent to $20.70.
Discovery Communications, Inc. (DISCA US) dropped 3.1 percent to $40.39 after losing as much as 4.8 percent, the most intraday since Nov. 3. UBS AG cut the owner of the Discovery Channel and Animal Planet cable channels to “neutral” from “buy.”
Excel Trust Inc. (EXL) sank 7.7 percent to $10.98 after losing as much as 9 percent, the most intraday since May 2010. The retail-focused real estate investment trust announced it would start a public offering of 12.5 million shares of common stock and use the proceeds to fund acquisitions and repay debt.
Flow International Corp. (FLOW) fell the most in the Russell 2000 Index, sinking 20 percent to $3.25. The maker of Dynamic high-pressure water jets for cutting industrial materials reported fourth-quarter profit excluding some items of 1 cent a share, trailing the average analyst estimate by 60 percent, Bloomberg data show. Roth Capital Partners cut the stock’s rating to “neutral” from “buy.”
Genesco Inc. (GCO) gained 9.4 percent to $49.38 after increasing as much as 12 percent, the most intraday since May 26. The owner of Journeys and Johnston & Murphy shoe stores acquired Schuh Group Ltd., a UK footwear retailer, for 100 million pounds and said the deal will add to earnings in the current fiscal year, excluding some expenses. Genesco also said that same store sales not including Schuh increased 14 percent in the second quarter through June 18.
H.B. Fuller Co. (FUL US) increased 7.8 percent to $23.66, the most intraday since Jan 12. The adhesives maker reported second-quarter earnings of 50 cents a share, beating the average analyst estimate of 46 cents a share.
Herman Miller Inc. (MLHR) jumped 9 percent to $26.17 after gaining as much as 13 percent, the most intraday since June 2009. The maker of ergonomically designed furniture posted fourth-quarter profit of 30 cents a share, beating the average estimate of 26 cents a share from four analysts in a Bloomberg survey.
Red Hat Inc. (RHT) climbed 4 percent to $45.51 after gaining as much as 6 percent, the most intraday since April 20. The largest seller of the Linux operating system said revenue for fiscal year 2012 will be as much as $1.09 billion. Analysts had estimated $1.07 billion, according to the average forecast in a Bloomberg survey.
Rite Aid Corp. (RAD) rose 3.6 percent to $1.14, the most intraday since June 17. The drugstore chain reported a first quarter loss of 7 cents a share excluding some items, beating analysts’ average estimate of a loss of 12 cents a share, according to Bloomberg data.
St. Jude Medical, Inc. (STJ US) fell 2.7 percent to $46.65 after losing as much as 5.1 percent, the most intraday since Aug. 24. The medical device-maker’s implant to treat migraines didn’t slash pain levels by the threshold requested by U.S. regulators, though patients getting the therapy reported significant benefits, researchers said.
TreeHouse Foods Inc. (THS) slumped 7.9 percent to $53.90 and tumbled 15 percent earlier, the most intraday since November 2008. The Westchester, Illinois-based food company forecast second-quarter earnings excluding some items of 44 cents a share at most, missing the average analyst estimate of 71 cents in a Bloomberg survey.
Vitacost.com Inc. (VITC) surged 14 percent to $4.73 for the second-biggest gain in the Russell 2000 Index. Craig-Hallum Capital Group LLC started coverage of the online seller of dietary supplements and personal-care products with a “buy” rating and a $9 share-price estimate, citing growing revenue and new management despite “serious manufacturing breakdowns.”
Western Digital Corp. (WDC) jumped 5.4 percent to $36.42 after gaining as much as 6 percent, the most intraday since April 8. Morgan Stanley named the maker of computer disk drives a long research tactical idea.
-- With assistance from Lu Wang and Cecile Vannucci in New York. Editor: Michael Regan
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