Barnes & Noble, Cascade, Morgan Stanley: 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.
Financial shares rallied on speculation that the International Monetary Fund will play a larger role in solving Europe’s debt crisis. Morgan Stanley (MS) rose 7 percent to $15.52. Citigroup Inc. (C) increased 4.4 percent to $28.17. JPMorgan Chase & Co. (JPM) jumped 6.1 percent to $32.33. Goldman Sachs Group Inc. (GS) gained 3 percent to $97.25.
Alexander & Baldwin Inc. (ALEX) advanced 17 percent, the most since April 1, to $44.39. The parent of ocean-transport company Matson Navigation said it plans to break into two publicly traded companies, separating its real estate business.
Anthera Pharmaceuticals Inc. (ANTH) rallied 12 percent to $6.48, the highest price since Nov. 18. The biopharmaceutical company was raised to “outperform” from “neutral’ by Wedbush Securities Inc. on valuation.
Barnes & Noble Inc. (BKS) advanced 11 percent, the most since Nov. 9, to $16.16. The largest U.S. bookstore chain was rated “buy” in new coverage by Maxim Group LLC.
Big Lots Inc. (BIG) fell 8.7 percent, the most since May 19, to $36.28. The discount retailer reported third-quarter earnings excluding some items of 6 cents a share, missing the average analyst estimate by 29 percent, according to Bloomberg data.
Cascade Corp. (CASC) rose 9.7 percent to $46.16, the highest price since Aug. 3. The materials-handling equipment maker reported third-quarter sales and profit that beat analysts’ estimates.
H&R Block Inc. (HRB) dropped 6.4 percent, the most since Sept. 21, to $15.03. The biggest U.S. tax preparer reported a second-quarter loss excluding some items of 38 cents a share, missing the average analyst estimate by 9.2 percent, according to Bloomberg data.
Lululemon Athletica Inc. (LULU) rose 5.3 percent to $49.69, paring yesterday’s 5.1 percent loss. The Canadian yoga- wear retailer was raised to “overweight” from “equal weight” at Barclays Plc, which said the shares had declined to an attractive price.
PVH Corp. (PVH) gained 7.6 percent, the most since March 21, to $72.78. The clothing retailer that owns labels such as Calvin Klein and Tommy Hilfiger forecast 2012 earnings of at least $5.23 a share, up from a previous projection of no more than $5.12 and exceeding the average analyst estimate of $5.11.
Research In Motion Ltd. (RIM) fell 9.7 percent, the most since Sept. 16, to $16.77. The BlackBerry maker reported revenue missed its forecast last quarter amid market-share losses to Apple Inc. (AAPL) , signaling its smartphones and tablets are continuing to lose ground.
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) rose 8.3 percent, the most since Sept. 9, to $74.19. The beauty-products retailer forecast fourth-quarter revenue between $552 million to $562 million. Analysts estimated sales of $558.7 million.
Western Digital Corp. (WDC) climbed 7.5 percent to $31.44 for the biggest increase in the S&P 500. The U.S. maker of disk drives and networking products raised its quarterly revenue forecast to at least $1.8 billion from at most $1.25 billion after rebounding from a flood in Thailand that devastated factories and constrained supplies.
Western Refining Inc. (WNR) jumped 5.4 percent to $13.42, the highest price since Nov. 16. Credit Suisse raised the refineries operator to “outperform” from “neutral.” The 12-month target price is $20.50 a share.
Zumiez Inc. (ZUMZ) surged 24 percent, the most since May 2005, to $28.99. The retailer forecast fourth-quarter earnings may be as much as 54 cents a share, compared with the average analyst estimate of 52 cents.
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