Coach, First Solar, Lululemon, Ralph Lauren: 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.
Apparel and accessory retailers had the biggest gain among 24 Standard & Poor 500 Index industries, rising 2 percent. Retail sales at stores open more than a year may have gained as much as 4.5 percent in December, more than the 4 percent previously estimated, the International Council of Shopping Centers said in a statement.
Polo Ralph Lauren Corp. (RL) climbed 4.2 percent to $142.86. VF Corp. (VFC) , the world’s largest apparel maker, advanced 4.4 percent to $135.31. Coach Inc. (COH) , the largest U.S. luxury-leather goods maker, gained 2.6 percent to $61.61.
Acme Packet Inc. (APKT) declined 19 percent to $25.70, the lowest since June 2010. The maker of devices to transmit phone calls and video reduced its 2011 adjusted earnings forecast, citing uncertainty in the North American service provider market. Profit excluding some items will be $1.03 to $1.05 a share, compared with an earlier estimate of as much as $1.18 a share.
AutoNation Inc. (AN) fell 6.8 percent, the most since October 2010, to $33.26. Edward Lampert’s ESL Partners LP cut its stake in the auto retailer to 52.5 percent from 56.4 percent, according to a regulatory filing.
BioMimetic Therapeutics Inc. (BMTI) fell 18 percent to $2.39, the lowest price since it went public in May 2006. The orthopedic drug-device company failed to win approval from the Food and Drug Administration on its application for Augment Bone Graft. The company said it plans to submit an amendment by midyear that will include all requested information.
LCA-Vision Inc. (LCAV) gained 35 percent to $4.17, the most since October 2008, after jumping as much as 38 percent. The operator of laser-eye-surgery centers reported a 30 percent increase in fourth-quarter same-store procedures.
Life Partners Holdings Inc. (LPHI) plunged 17 percent to $5.27, the lowest price since Aug. 10. The acquirer of life- insurance policies was sued by U.S. regulators along with three of its executives over allegations of fraudulent statements, improper accounting and insider trading.
LoopNet Inc. (LOOP) dropped 6.4 percent, the most since October 2009, to $17.12. The company that runs a website that allows brokers to post and search commercial real-estate listings and CoStar Group Inc. are extending the waiting period to engage in talks on a possible consent order that would allow the two to close a deal.
Lululemon Athletica Inc. (LULU) advanced 8.8 percent, the most since Aug. 23, to $51.15. The Canadian yoga-wear retailer was added to the “conviction buy” list at Goldman Sachs, who said it offers one of the most compelling growth stories in retail.
National Instruments Corp. (NATI) declined 7.1 percent, the most since December 2008, to $24.51. The maker of industrial testing equipment reduced its fourth-quarter earnings and revenue forecast. Earnings will be as low as 19 cents a share, down from an earlier estimate of as much as 30 cents a share.
Netflix Inc. (NFLX) gained 11 percent, the most in the S&P 500, to $80.45. The company said users of its online movie and TV-streaming service watched more than 2 billion hours of content in the fourth quarter, exceeding the 1.2 billion-hour estimate of Richard Greenfield, an analyst with BTIG Research.
Progress Software Corp. (PRGS) fell 11 percent, the most since June 6, to $17.69. The software-development company said it sees first-quarter adjusted earnings of 25 cents a share, below analysts’ average estimate of 37 cents per share.
Tenet Healthcare Corp. (THC) dropped 5.4 percent, the most since Dec. 2, to $4.69. The third-largest U.S. hospital operator dropped on investor concern about the company’s ability to weather reduced government health-care spending. The company was one of at least eight hospital companies and health-service providers to have been downgraded by Citigroup Inc. yesterday as federal and state governments face tight budgets and begin a cycle of cuts.
TiVo Inc. (TIVO) surged 10 percent, the most since Aug. 25, to $9.82. The Dallas-based company settled a patent lawsuit over digital video recorders with AT&T Inc., which agreed to pay at least $215 million, TiVo said. AT&T also will pay monthly license fees if its subscriber base exceeds certain levels, TiVo said.
Unilife Corp. (UNIS) rallied 13 percent, the most since Aug. 17, to $3.65. The medical-device maker was rated a new “buy” at Jefferies Group Inc. with a price estimate of $7.
To contact the reporter on this story: Katia Porzecanski in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Nick Baker at email@example.com