Eastman Kodak, Mosaic, Micron, Tyson, Wynn: 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.
Fertilizer producers declined after the U.S. government said pre-harvest corn inventories fell less than analysts forecast. CF Industries Holdings Inc. (CF) slumped 12 percent to $123.39. Intrepid Potash Inc. (IPI) fell 8.2 percent to $24.87. Mosaic Co. (MOS) retreated 9.7 percent to $48.97.
Companies that use corn as animal feed advanced. Tyson Foods Inc. (TSN) , the largest U.S. chicken processor, climbed 1.5 percent to $17.36. Sanderson Farms Inc. (SAFM) rose 3 percent to $47.50. Smithfield Foods Inc. (SFD US) added 1.9 percent to $19.50.
Casino companies with business in Macau fell for a second day after a Bloomberg poll showed most global investors predict China’s growth will slow. Las Vegas Sands Corp. (LVS) lost 7.2 percent to $38.34. Wynn Resorts Ltd. (WYNN) declined 8.3 percent to $115.08. MGM Resorts International (MGM) slipped 6.5 percent to $9.29.
Eastman Kodak Co. (EK US) plunged 3 percent to 78 cents, the lowest price since at least 1974. The unprofitable 131-year-old camera maker is weighing options including a bankruptcy filing because of concerns raised by possible bidders for its patent portfolio, said three people with direct knowledge of the process.
Ingersoll-Rand Plc (IR) declined 12 percent, the most since November 2008, to $28.09. The company that makes such products as Club Car golf cars and Schlage locks forecast third-quarter earnings of no more than 80 cents a share, below an earlier prediction of at least 85 cents and missing the average analyst estimate of 92 cents.
Insituform Technologies Inc. (INSU US) slid 13 percent to $11.58, the lowest price since November 2008. The pipeline rehabilitator was cut to “neutral” from “outperform” at Wedbush Securities Inc.
Micron Technology Inc. (MU) fell 14 percent to $5.04 for the biggest retreat in the S&P 500. The largest U.S. maker of computer-memory chips reported an unexpected loss of 14 cents a share for the fourth quarter on weak demand for personal computers. Analysts projected a profit of 2 cents a share, according to data compiled by Bloomberg.
Morgan Stanley (MS) declined 10 percent, the most since Aug. 8, to $13.51. The owner of the world’s largest retail brokerage is being priced in the credit-default swaps market as less creditworthy than most U.S., U.K. and French banks and as risky as Italy’s biggest lenders.
Sun Healthcare Group Inc. (SUNH US) fell 12 percent to $2.70, the lowest price since at least November. The provider of nursing and health-care services to senior citizens forecast lower annual earnings-per-share and revenue than a previous estimate. The company withdrew the previous estimate on Aug. 1 to conduct a review.
UBS AG (UBSN) dropped 8.7 percent, the most since Sept. 15, to $11.43. Lawmakers in Bern, Switzerland, backed proposals to limit risk-taking after the largest Swiss bank said this month it may be unprofitable in the third quarter after a $2.3 billion loss from unauthorized trading at its investment bank.
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