First Solar, Huntington, JA Solar, Navistar: 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 declined after Germany said it would increase the frequency of solar subsidy cuts to monthly.
First Solar Inc. (FSLR) slid 10 percent $38.70 for the biggest retreat in the Standard & Poor’s 500 Index. LDK Solar Co. (LDK) slumped 6.6 percent to $4.95. JA Solar Holdings (JASO) Co decreased 15 percent to $1.80.
8x8 Inc. (EGHT US) advanced the most in the Russell 2000 Index, climbing 25 percent to $4.26. The Sunnyvale, California- based provider of Internet phone services reported third-quarter earnings and sales that exceeded the average analyst projections, data compiled by Bloomberg show.
Bank of America Corp. (BAC) jumped 2.4 percent to $6.96 for the biggest increase in the Dow Jones Industrial Average. The second-largest U.S. lender by assets swung to a fourth- quarter profit as the company sold assets and rebuilt capital.
BankUnited Inc. (BKU US) sank 9.5 percent, the most since its initial public offering in January 2011, to $22.58. The Miami Lakes, Florida-based lender run by John Kanas said it plans to stay independent instead of finding a buyer.
EBay Inc. (EBAY) rose 3.9 percent, the most since Nov. 28, to $31.51. The largest Internet marketplace reported fourth- quarter sales and profit that beat estimates, as more consumers used its PayPal online-payments service and holiday shoppers flocked to its e-commerce site.
F5 Networks Inc. (FFIV) climbed 11 percent to $120 for the biggest gain in the S&P 500. The software maker reported first-quarter earnings of $1.03 a share, beating the average analyst estimate of $1.01. The company forecast earnings in the second quarter will be between $1.05 and $1.07 a share excluding some items, compared with the average analyst projection of $1.05.
Huntington Bancshares Inc. (HBAN) (HBAN US) slipped 4 percent, the most since Nov. 9, to $5.79. The Columbus, Ohio-based bank posted fourth-quarter earnings of 13 cents a share excluding certain items, missing the average analyst projection of 14 cents, according to data compiled by Bloomberg.
Johnson Controls Inc. (JCI) fell 8.8 percent, the most since July 2009, to $32.46. The largest U.S. auto supplier lowered its forecast for profit for the fiscal year because of weakening demand in Europe. Annual profit will be $2.70 to $2.85 a share, the company said. The average estimate of 27 analysts surveyed by Bloomberg was for a profit of $2.96.
Morgan Stanley (MS) rose 5.4 percent to $18.28, the highest price since Oct. 28. The owner of the world’s largest brokerage reported a smaller fourth-quarter loss than analysts estimated on an increase in equity-trading revenue. The loss from continuing operations was 14 cents, compared with the 57- cent average estimate of analysts surveyed by Bloomberg.
Navistar International Corp. (NAV) fell 6.9 percent, the most since Sept. 22, to $38.82. The maker of International brand trucks fell after Courthouse News reported it lost a bid to force the U.S. Environmental Protection Agency to recall certain 2010 engines.
NetApp Inc. (NTAP) rose 8.3 percent, the most since May 2010, to $37.51. The maker of data-storage products may be a takeover target in 2012, the DealReporter said, citing industry source.
NetScout Systems Inc. (NTCT) surged 17 percent to $19.92, the highest price since July 1. The maker of software to manage computer networks reported third-quarter profit that beat analysts’ estimates.
Plexus Corp. (PLXS) advanced 9.8 percent to $36.50, the highest price since May 31. The contract electronics manufacturer forecast second-quarter revenue of at least $550 million, more than the average analyst estimate of $547.6 million.
Rockwell Collins Inc. (COL) gained 5.5 percent to $59.96, the highest price since July 21. The maker of airplane cockpit instruments said first-quarter earnings were 86 cents a share, beating the average analyst estimate of 84 cents.
Sealy Corp. (ZZ) dropped 17 percent, the most since Oct. 3, to $1.52. The bedding manufacturer reported fourth-quarter sales of $269.3 million, missing the average of two analyst estimates of $309 million.
Sears Holdings Corp. (SHLD) rose 9.8 percent, the most since Oct. 4, to $43.35. CIT Group Inc. (CIT US) will approve financing for the retailer’s vendors as soon as today, Women’s Wear Daily reported, citing unidentified people familiar with the plan.
Vishay Precision Group Inc. (VPG) fell 9.5 percent, the most since Aug. 8, to $15.80. The designer of foil technology products said it had fourth-quarter sales of $56.5 million, less than its earlier forecast of $59 million to $63 million. Analysts had forecast $61.2 million on average.
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