Coldwater Creek, MGP Ingredients, Macy’s: 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.
Ciena Corp. (CIEN) jumped 20 percent, the most in the Russell 1000 Index, to $14.71. The maker of network gear reported third-quarter earnings of 8 cents a share. Analysts had estimated an 8-cent loss on average.
Coldwater Creek Inc. (CWTR) fell 16 percent to 89 cents, the third-biggest retreat in the Russell 2000 Index. The clothing retailer reported a second-quarter loss of 27 cents a share, missing the average analyst estimate by 46 percent, according to data compiled by Bloomberg.
Gap Inc. (GPS) lost 3 percent, the most since Aug. 18, to $16.03. The largest U.S. apparel chain reported sales at its stores open more than one year fell 6 percent, more than the 3.9 percent decline estimated by analysts.
Goldman Sachs Group Inc. (GS) slipped 3.5 percent to $112.16, the biggest decline since Aug. 22. The firm was downgraded to “hold” from “buy” at ISI Group Inc. The 12- month share-price estimate is $135. The New York-based bank also agreed to pay future penalties and review foreclosures so that victims of wrongful seizures can be compensated.
Greif Inc. (GEF) fell 10 percent, the most since October 2008, to $50.12. The maker of shipping and packaging reported third-quarter adjusted earnings of $1.18 a share, missing the average analyst estimate of $1.33.
Macy’s Inc. (M) rose 2.1 percent to $26.49, the highest price since Aug. 5. The retailer said sales climbed 5 percent, topping the 4.3 percent average estimate.
MGP Ingredients Inc. (MGPI) gained 10 percent, the most since Dec. 21, to $6.75. The maker of distillery products will pay a dividend of 5 cents a share, reflecting the company’s “strong balance sheet,” according to a statement.
Movado Group Inc. (MOV) climbed 10 percent to $15.20, the highest price since Aug. 3. The watch and jewelry maker reported second-quarter earnings of 16 cents a share, beating the 4-cents a share profit estimated by analysts in a Bloomberg survey.
SAIC Inc. (SAI) tumbled 13 percent, the most since its initial public offering in October 2006, to $12.97. The defense contractor specializing in computer services cut its revenue forecast for 2012 to no more than $11 billion, below an earlier prediction of as much as $11.5 billion and the average analyst estimate of $11.2 billion.
UTI Worldwide Inc. (UTIW) rallied 13 percent, the second-most in the Russell 1000 Index, to $15.32. The air and ocean freight logistics company reported second-quarter profit of 24 cents a share, compared with an average analyst estimate in a Bloomberg survey of 21 cents a share.
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