AMN, Odyssey Marine, Patriot Coal, Rimage: 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.
AMN Healthcare Services Inc. (AHS) advanced 9.6 percent percent to $4.69. the highest level since Nov. 18. The San Diego-based health care staffing company was raised to “outperform” from “market perform” at BMO Capital Markets.
Chesapeake Energy Corp. (CHK) rose 6.3 percent, the most since Nov. 30, to $22.28. The most active U.S. oil and natural- gas driller said it will cut output, idle drilling rigs and reduce spending in gas fields by 70 percent after prices for the fuel hit a 10-year low.
Other energy stocks also rallied. Cabot Oil & Gas Corp. (COG US) gained 6.5 percent to $65.08. Range Resources Corp. (RRC) added 9.2 percent to $59. EQT Corp. (EQT) increased 8.3 percent to $50.13. Goodrich Petroleum Corp. (GDP) climbed 11 percent to $15.61. Exco Resources Inc. (XCO) gained 8.8 percent to $8.55. Forest Oil Corp. (FST) advanced 8.8 percent to $14.04.
Southwestern Energy Co. (SWN) jumped 10 percent to $32.46. The Houston-based oil and gas company was raised to “outperform” from “market perform” at BMO Capital Markets.
Columbia Laboratories Inc. (CBRX) slumped 55 percent to 71 cents for the biggest drop in the Russell 2000 Index. A panel advising U.S. drug regulators didn’t back the company’s product to prevent preterm births.
Mellanox Technologies Ltd. (MLNX) slipped 6.8 percent, the most since Sept. 20, to $31.35. The Israeli adapter maker fell after rival QLogic Corp. (QLGC US) agreed to sell its InfiniBand business to Intel Corp. (INTC US) for $125 million.
Minefinders Corp. (MFN) surged 23 percent, the most since November 2008, to $13.95. The operator of the Dolores gold and silver mine in Mexico agreed on a C$1.5 billion ($1.49 billion) takeover by Pan American Silver Corp. (PAA) , a 36 percent premium to Minefinders’ Jan. 20 closing share price in Toronto. Pan American Silver fell 9.8 percent to $22.29.
Netflix Inc. (NFLX) fell the most in the Standard & Poor’s 500 Index, sinking 6.3 percent to $93.96. The owner of the streaming and DVD-by-mail service is likely to provide a first-quarter forecast that’s “well below” analysts’ estimates, according to Wedbush Securities.
Odyssey Marine Exploration Inc. (OMEX) jumped 9.6 percent to $3.32, the highest price since June 17. The sunken- treasure explorer is expected to be employed to recover the wreck of British warship H.M.S. Victory, which sank in 1744, the Daily Mail reported.
PetMed Express Inc. (PETS) climbed 11 percent, the most since May 2009, to $12.51. The seller of pet drugs and vitamins reported third-quarter profit and sales that beat analysts’ estimates.
Research In Motion Ltd. (RIMM) tumbled 8.5 percent, the most since Dec. 16, to $15.56. The BlackBerry maker shook up its top management, replacing co-Chief Executive Officers Jim Balsillie and Mike Lazaridis, who guided the company for two decades and struggled to compete against Apple Inc. Thorsten Heins, a chief operating officer who joined RIM four years ago from Siemens AG, will replace the pair in the CEO post effective immediately.
Rimage Corp. (RIMG) tumbled 10 percent, the most since Oct. 10, to $11.83 after erasing 15 percent earlier. The maker of equipment to copy compact discs said its fourth-quarter loss was 12 to 14 cents a share, wider than it forecast.
Twin Disc Inc. (TWIN) dropped 19 percent, the most since November 2008, to $32. The maker of transmissions for boats and heavy equipment reported a second-quarter profit of 51 cents a share. That missed the 56 cents estimated by Robert W. Baird & Co.
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