Netflix, Newcastle, Supervalu, UBS, Zogenix: 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.
European lenders rallied after the European Central Bank said it will lend dollars to euro-area banks in a series of three-month loans to ensure they have enough of the U.S. currency through the end of the year. BNP Paribas SA (BNPQY) surged 15 percent to $21.52. Deutsche Bank AG (DBK) jumped 7.7 percent to $35.36. Credit Suisse Group AG (CS) climbed 7.3 percent to $25.47.
U.S. financial companies gained along with their European peers. Morgan Stanley (MS) added 7.2 percent to $16.59. JPMorgan Chase & Co. (JPM) climbed 3.1 percent to $33.81 and Bank of America Corp. (BAC US) advanced 4 percent to $7.33.
Aeroflex Holding Corp. (ARX) gained 9.3 percent, the most since its initial public offering in November, to $10.01. The designer of radio frequency and microwave integrated circuits was added to Goldman Sachs Group Inc.’s conviction buy list. Teradyne Inc.’s (TER) acquisition of LitePoint Corp. “underscores tremendous value” in Aeroflex, analysts including James Covello said in a note.
American Superconductor Corp. (AMSC) fell 15 percent, the most since June 1, to $6.01. The wind turbine component maker said it filed a claim for arbitration in China against its largest customer, Sinovel Wind Group Co., seeking payments for previously refused shipments.
CNinsure Inc. (CISG) slumped 15 percent to $9.03, the lowest price since May 2009. The insurance and brokerage company based in Guangzhou, China, said a group including Chairman Yinan Hu withdrew a non-binding proposal to acquire the company.
Fundtech Ltd. (FNDT US) surged 32 percent, a record, to $23.18. GTCR Fund X/A LP offered to buy the maker of software for financial institutions for $23.33 per share in cash.
HCA Holdings Inc. (HCA) rose the most in the Russell 1000 Index, climbing 12 percent to $20.84. Bank of America Corp. (BAC US) agreed to sell 80.8 million shares of the hospital chain back to the company for $1.5 billion.
Netflix Inc. (NFLX) dropped 19 percent, the most in the Standard & Poor’s 500 Index, to $169.30. The mail-order and online film-rental service cut its forecast for domestic subscribers in the third quarter. Netflix will have 2.2 million DVD-only subscribers, down from its previous projection of 3 million. The company also said it will have 9.8 million streaming-only subscribers, down from 10 million.
Newcastle Investment Corp. (NCT) jumped 19 percent to $5.87, the highest level since Aug. 1. The New York-based real estate investment trust boosted its quarterly dividend to 15 cents a share from 10 cents.
Supervalu Inc. (SVU) climbed 5.7 percent, the most since Aug. 29, to $7.92. The supermarket chain was rated “buy” in new coverage by Deutsche Bank AG (DB), which said “credit fears are overblown” and “sentiment was just too negative relative to ongoing underlying changes” at the company.
Transcept Pharmaceuticals Inc. (TSPT) soared 80 percent, the most in the Russell 2000 Index, to $6.01. The developer of psychiatry and sleep medicine-related products plans to resubmit its Intermezzo new drug application for insomnia treatment after a meeting with the U.S. Food and Drug Administration.
UBS AG (UBSN) plunged 10 percent to $11.41, the lowest price since April 2009. Switzerland’s biggest bank said it may be unprofitable in the third quarter after a $2 billion loss from unauthorized trading at its investment bank. London police arrested Kweku Adoboli, a UBS employee, in connection with the loss, according to a person with knowledge of the matter who declined to be identified. City of London police and UBS declined to identify the man.
Zogenix Inc. (ZGNX) fell 17 percent to $2.17, the lowest price since its IPO in November. The specialty pharmaceutical company increased a stock offering to 30 million shares from 12 million, according to a regulatory filing.
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