Cabot Oil & Gas, Crocs, First Solar, Suntech: 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.
Solar stocks surged after the China National Energy Administration said it had plans to develop 3 gigawatts of solar capacity in 2012 and Vishal Shah, an analyst at Deutsche Bank AG, said the companies may rally on “encouraging” polysilicon pricing data over the next month.
First Solar Inc. (FSLR) rose 7.8 percent to $41.80. MEMC Electronic Materials Inc. (WFR) jumped 21 percent to $4.75, the biggest gain on the Russell 1000 index. Suntech Power Holdings Co. (STP) rose 27 percent, the most intraday since Oct. 27, to $3.26.
Producers of natural gas fell as the commodity sank to a 28-month low in New York after revised forecasts showed milder weather across much of the U.S. through late January, crimping demand for the furnace fuel.
Southwestern Energy Inc. (SWN) lost 8 percent to $29.92, the lowest price since March 2009. Cabot Oil & Gas Corp. (COG US) fell 11 percent to $69.62. Range Resources Corp. (RRC) sank 6.3 percent to $54.36.
Assurant Inc. (AIZ) dropped 6.1 percent, the most since Aug. 8, to $38.05. The insurer of foreclosed properties is among banks and insurance companies being probed by the New York’s Department of Financial Services over the prices charged to mortgage borrowers for home insurance, a person familiar with the matter said.
Crocs Inc. (CROX) soared 16 percent, the most since August 2009, to $18.56. The plastic-clogs maker said fourth- quarter revenue was at the high end of its previous forecast range of $200 million to $205 million. Analysts on average estimated $204.6 million, according to a Bloomberg survey.
Delta Apparel Inc. (DLA) plunged 21 percent, the most since December 2008, to $15.21. The Greenville, South Carolina- based activewear apparel maker cut its annual earnings forecast to no more than 60 cents a share from its October estimate of at least $2 a share.
Eastman Kodak Co. (EK) rose the most in the Russell 2000 Index, rallying 36 percent to 82 cents. The unprofitable imaging company, seeking to sell or license a portfolio of more than 1,100 patents, sued Apple Inc. (AAPL) and HTC Corp. in an expansion of a legal strategy that may help boost the value of its inventions to fund a turnaround.
Electronics for Imaging Inc. (EFII US) climbed 9.7 percent, the most since April 11, to $15.63. The digital-printing company said it earned 34 cents to 35 cents a share in the fourth- quarter, exceeding the average analyst estimate of 32 cents in a Bloomberg survey.
General Motors Co. (GM) gained 5.3 percent, the most since Oct. 27, to $24.47. The automaker may be negotiating an agreement with its German union that would shift some production to European factories and keep its Opel unit out of bankruptcy, Reuters reported, citing people familiar with the situation.
Franklin Resources Inc. (BEN) slipped 5 percent, the most since Nov. 9, to $96.67. The manager of the Franklin and Templeton mutual funds said assets under management declined in December.
Hill-Rom Holdings Inc. (HRC) declined 12 percent, the most since July 28, to $30.50. The maker of hospital beds and stretchers slashed its full-year forecast for fiscal 2012, projecting earnings excluding some items of $2.50 a share at most. Analysts, on average, estimated $2.52, according to a Bloomberg survey.
Lennar Corp. (LEN) rallied 7.2 percent, the most since Nov. 30, to $22.25. The third-largest U.S. homebuilder by revenue said fourth-quarter earnings matched the average analyst estimate and orders for new homes climbed 20 percent from a year ago.
Masco Corp. (MAS) , a home improvement and building products maker, added 4.6 percent to $11.99. KB Home (KBH) advanced 12 percent to $8.62, while MDC Holdings Inc. (MDC) increased 2.5 percent to $20.22 and PulteGroup Inc. (PHM) gained 4.9 percent to $7.70.
Pandora Media Inc. (P) (P US) rallied 8.5 percent to $12.45, the highest price since Nov. 21. The online music company’s growth continues “unabated” and that the car market presents a “tremendous opportunity,” Chief Executive Officer Joe Kennedy said in an interview on CNBC.
Rockwell Automation Inc. (ROK) climbed 4.2 percent to $77.98, the highest price since July 26. The maker of factory software was raised to “buy” from “neutral” at Nomura Securities Co., and “conviction buy” from “neutral” at Goldman Sachs Group Inc. Nomura said the company may beat analysts’ earnings estimates.
Summer Infant Inc. (SUMR) tumbled 22 percent, the most since its May 2005 initial public offering, to $5.36. The Woonsocket, Rhode Island-based infant health and safety products company had its rating reduced to “neutral” from “outperform” at Wedbush Securities after cutting its 2011 earnings and revenue forecasts.
Super Micro Computers Inc. (SMCI) slumped 3.4 percent, the most since Dec. 8, to $16.06. The maker of computer servers and accessories forecast second-quarter adjusted earnings will be no more than 25 cents a share, below a previous projection of at least 27 cents and the average analyst estimate of 29 cents.
Supervalu Inc. (SVU) tumbled 13 percent, the most since Oct. 19, to $7.34. The supermarket chain’s third-quarter quarter profit excluding some items trailed analysts’ estimates as the state of the economy weighed on shoppers.
Textron Inc. (TXT) rose 5.7 percent to $21.32, the highest price since Aug. 1. The maker of Cessna aircraft and Bell helicopters is conducting a review, which may include a spinoff, according to Reuters, which cited people familiar with the situation.
Ultra Clean Holdings Inc. (UCTT) rallied 12 percent, the most since Nov. 30, to $6.79. The supplier of equipment to semiconductor makers said fourth-quarter revenue was at least $85 million, compared with a previous forecast of no more than $80 million.
Urban Outfitters Inc. (URBN) plunged 19 percent, the most in the S&P 500, to $23.93. The clothing retailer said Glen Senk resigned as chief executive officer yesterday and will be succeeded by co-founder Richard Hayne as the retailer seeks to turn around falling profit.
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