Diamond Foods, Huntsman, Pioneer Natural, ReachLocal: 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.
Phone stocks gained after the U.S. House voted to bar new state and local taxes on wireless services. Sprint Nextel Corp. (S) climbed 9.2 percent to $2.72. MetroPCS Communications Inc. (PCS) jumped 12 percent, the second-most in the Standard & Poor’s 500 Index, to $8.57. Verizon Communications Inc. (VZ) rose 0.9 percent to $36.80. AT&T Inc. (T) increased 1.3 percent to $29.08.
AOL Inc. (AOL) rallied 13 percent, the most since November 2009, to $15.02. The Internet company that’s struggling to halt a sales slide reported third-quarter earnings that exceeded analysts’ estimates by 65 percent.
Becton Dickinson & Co. (BDX US) fell 4.6 percent, the most since Feb. 8, to $72.60. The maker of medical devices and supplies forecast fiscal 2012 profit of $5.75 to $5.85 a share, saying it expects reduced research funding and lower demand for health care. The outlook was worse than the $6.21 average estimate of 19 analysts surveyed by Bloomberg.
Career Education Corp. (CECO) tumbled 48 percent to $8.32 for the biggest retreat in the Russell 1000 Index. The operator of the Le Cordon Bleu North America cooking schools said Chief Executive Officer Gary McCullough resigned.
Devon Energy Corp. (DVN) rose 4.9 percent to $65.46, the first gain in three days. The biggest independent oil and natural-gas producer in the U.S. had third-quarter earnings of $1.54 a share, exceeding the average analyst estimate for $1.45 a share.
Diamond Foods Inc. (DMND) slumped 18 percent, the most since December 2008, to $52.79. The maker of Kettle potato chips and snack nuts said its $1.5 billion acquisition of Pringles chips would close as much as six months later than expected.
EOG Resources Inc. (EOG) climbed 12 percent, the most since November 2008, to $96.04. The natural gas and crude oil company said output of petroleum liquids rose 49 percent in the third quarter from a year earlier, helped by growth in the Eagle Ford shale formation in Texas. The company plans to boost work in the Wolfcamp project in Texas next year.
Pioneer Natural Resources Co. (PXD) climbed 13 percent to $91.16 for the biggest gain in the S&P 500. The oil and gas explorer said that it plans an expansion in the area and sees “significant horizontal Wolfcamp Shale potential.”
Hhgregg Inc. (HGG) rallied 16 percent, the most since May 26, to $14.01. The Indianapolis-based appliance and electronics retailer boosted its profit forecast for the year on a buyback gain after second-quarter earnings and revenue beat analyst projections.
Huntsman Corp. (HUN) surged 15 percent, the most in the Russell 1000 Index, to $12.59. The chemical maker reported third-quarter earnings excluding some items of 45 cents a share, beating the average analyst estimate of 43 cents a share.
JDS Uniphase Corp. (JDSU) rose 8.5 percent to $12.46, the first gain in three days. The maker of fiber-optic equipment reported first-quarter earnings excluding some items of 18 cents, beating the average analyst estimate of 13 cents a share.
Leapfrog Enterprises Inc. (LF) surged 19 percent, the most since February 2010, to $4.49. The maker of electronic educational products for children boosted its forecast for earnings in 2011 to as much as 22 cents, above the average analyst estimate of 21 cents.
MasterCard Inc. (MA) advanced 7 percent to $357.66, the highest price since it went public in 2006. The world’s second- biggest payments network posted a third-quarter profit that beat analysts’ estimates as consumers increased spending with credit and debit cards.
MF Global Holdings Ltd. (MFGLQ US) tumbled 79 percent to 25 cents on its first day of over-the-counter trading. The futures brokerage filed for bankruptcy, prompting the New York Stock Exchange to delist the shares.
OpenTable Inc. (OPEN) erased 11 percent, the most since May 4, to $38.27. The online restaurant-reservation service had second-quarter revenue that fell short of analyst projections.
Phoenix Cos. (PNX US) rose the second-most in the Russell 2000, soaring 25 percent to $1.70. The insurer and money manager that caters to wealthy clients reported third-quarter profit excluding some items of 18 cents a share, beating the average analyst estimate of 7 cents a share in a Bloomberg survey.
ReachLocal Inc. (RLOC) plunged 28 percent to $7.44 for the biggest retreat in the Russell 2000. The company that helps businesses buy online advertising cuts its full-year revenue forecast to no more than $376 million, below the average analyst estimate of $385.9 million.
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