Avis, Dendreon, Prudential, Sotheby’s, Web.com Group: U.S. Equity Preview
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.
AMAG Pharmaceuticals Inc. (AMAG) jumped 11 percent, the most since Nov. 29, to $16. The Lexington, Massachusetts-based biopharmaceutical company received an unsolicited, $18 a share cash offer from MSMB Capital Management and said the board will consider the proposal, according to a regulatory filing.
CenturyLink Inc. (CTL) declined 6.2 percent, the most since February 2009, to $34.66. The landline telephone company lowered its profit forecast for the year after second-quarter earnings missed analysts’ estimates.
CIBER Inc. (CBR) plunged 24 percent, the most since December 2008, to $3.94. The information technology services consulting firm reported a second-quarter loss per share of 81 cents a share and withdrew its forecast for the year because of a reduction in earnings related to five fixed-price contracts that have become less profitable.
Kforce Inc. (KFRC) lost 33 percent to $8.74, the biggest decline in the Russell 2000 Index. The staffing company reported profit in the third quarter of 17 cents a share excluding some items, missing the average analyst estimate by 5.6 percent. The Tampa, Florida-based company was cut to ‘neutral” from “buy” at SunTrust Robinson Humphrey Inc.
Kraton Performance Polymers Inc. (KRA) erased 24 percent to $23.95, the most intraday since its initial public offering in December 2009. The maker of polymers used in adhesives and road surfaces reported second-quarter earnings that trailed analysts’ estimates as its sales volume and market share fell.
Kronos Worldwide Inc. (KRO) dropped 7.8 percent, the most since Sept. 2, to $26.83. The maker of titanium dioxide pigments reported second-quarter earnings of 77 cents a share, missing the average analyst estimate for the first time in the three quarters since its initial public offering.
Lincoln Educational Services Corp. (LINC) tumbled 23 percent, the most since August 2005, to $13.26. The for-profit college company cut its 2011 revenue forecast to no more than $525 million from the prior forecast of as much as $585 million.
Marathon Oil Corp. (MRO) declined 5.1 percent, the most since Nov. 2, to $27.63. The Houston-based oil company was cut to “neutral” from “outperform” by Edward Westlake, an analyst at Credit Suisse Group AG, who cited cuts to earnings and macroeconomic uncertainty.
MasterCard Inc. (MA) climbed 13 percent to $338.47, the highest price since the company went public in May 2006. The world’s second-biggest payments network said second-quarter profit rose to $4.76 a share excluding some items, beating to $4.23 estimate as customers’ spending increased.
OpenTable Inc. (OPEN) lost 5.5 percent to $65.08, the lowest price since Nov. 17. The online restaurant-reservation service had second-quarter revenue that fell short of analyst projections.
Quanta Services Inc. (PWR) rose 11 percent to $18.93 for the second-biggest gain in the Standard and Poor’s 500 Index. The U.S. builder of power lines boosted its full-year sales forecast after second-quarter earnings beat analysts’ estimates.
R.R. Donnelley & Sons Co. (RRD US) slipped 7.8 percent to $16.50 for the biggest retreat in the S&P 500. The largest North American printer reported second-quarter revenue of $2.62 billion, trailing the average analyst estimate of $2.66 billion in a Bloomberg survey. Robert W. Baird & Co. cut the stock’s rating to “neutral” from “outperform.”
Silicon Images Inc. (SIMG US) surged 24 percent to $6.77 for the third-biggest gain in the Russell 2000 Index. The designer of chips that transmit television signals had $53.6 million in second-quarter revenue, compared with the average estimate of three analysts of $52.3 million.
SPX Corp. (SPW) slipped 13 percent to $61.23 for the biggest retreat in the Russell 1000 Index. The maker of power- plant cooling systems reported second-quarter earnings minus some items of 91 cents a share, missing the estimates from firms including Credit Suisse Group AG, which projected 92 cents a share.
Trimble Navigation Ltd. (TRMB) rallied 18 percent to $38.90 for the biggest gain in the Russell 1000 Index. The maker of global-positioning said it expects sales of at least $406 million in the third quarter. That’s higher than the average analyst estimate of $398.3 million in a Bloomberg survey.
XL Group Plc (XL) rose 8.7 percent, the most since May 2010, to $21.77. The insurer posted second-quarter profit excluding some items of 75 cents a share, beating the average analyst estimate by 39 percent, Bloomberg data show.
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