CA, LeCroy, MetLife, Piper, Rock-Tenn, Xerox: 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.
Airlines advanced after Delta Air Lines Inc. (DAL) and US Airways Group Inc. (LCC US) reported fourth-quarter profits that topped analysts’ projections. Delta Air climbed 6.2 percent to $9.96. US Airways rallied 17 percent to $7.52. United Continental Holdings Inc. (UAL) added 5.2 percent to $20.41.
Insurers declined as investors bet they’ll struggle to maintain bond-portfolio income after the Federal Reserve said its benchmark interest rate will stay low until at least late 2014. MetLife Inc. (MET) , the largest U.S. life insurer, lost 2.6 percent to $35.95. Lincoln National Corp. (LNC) slipped 4 percent to $21.94. Hartford Financial Services Group Inc. (HIG) fell 2.2 percent to $18.20.
Apple Inc. (AAPL) rose 6.2 percent to $446.66, the highest price ever. The world’s largest technology company reported record quarterly sales and profit, as holiday purchases of the new iPhone helped the company steer clear of the consumer spending slump that has hurt technology companies.
Bemis Co. (BMS) gained 6 percent, the most since November 2008, to $31.79. The maker of packaging and pressure-sensitive materials reported fourth-quarter sales and earnings that beat analysts’ estimates.
CA Inc. (CA) rose 9.7 percent, the most since October 2008, to $25.03. The maker of software for mainframe computers boosted its earnings forecast for 2012 to at least $2.21 a share from no more than $2.18, surpassing the average analyst estimate of $2.15.
Corning Inc. (GLW) retreated 11 percent, the most since Nov. 29, to $13.05. The world’s largest maker of glass for flat-panel televisions reported fourth-quarter profit fell 53 percent as glass prices for LCD displays sank.
Fusion-io Inc. (FIO) plunged 16 percent, the most since Aug. 4, to $25.50. The maker of flash-memory technology reported gross margin in the second quarter was 51.1 percent, the lowest since at least the third quarter of 2009.
Illumina Inc. (ILMN) surged 46 percent to $55.15 for the biggest gain in the Russell 1000 Index. The maker of DNA analysis equipment was offered about $5.7 billion in cash in a hostile bid by Roche Holding AG to bolster cancer-drug sales.
Other makers of genomic analysis tools advanced. Complete Genomics Inc. (GNOM US) rallied 20 percent to $2.99. Life Technologies Corp. (LIFE US) gained 3.8 percent to $49.09. Affymetrix Inc. (AFFX) climbed 2.1 percent to $4.85.
LeCroy Corp. (LCRY US) slumped 12 percent, the most since Oct. 3, to $10.11. The maker of gear to analyze disk drives reduced its full-year forecast to as little as $1.10 a share. Analysts, on average, estimated $1.19, according to a Bloomberg survey.
Molex Inc. (MOLX US) declined 3.3 percent to $26.52, the most intraday since October 2010. The maker of electrical components for cars forecast third-quarter profit of 36 cents a share at most, missing the average analyst estimate of 39 cents in a Bloomberg survey.
Piper Jaffray Cos. (PJC) dropped 14 percent, the most since December 2008, to $21.21. The Minneapolis-based brokerage reported fourth-quarter profit excluding some items of 11 cents a share, lower than the average analyst estimate of 18 cents in a Bloomberg survey.
Rock-Tenn Co. (RKT) fell 8.9 percent, the most since Aug. 8, to $61.25. The maker of corrugated and consumer packaging reported first-quarter sales and profit that missed analysts’ estimates.
Tempur-Pedic International Inc. (TPX) rose 8.9 percent, the most since July 27, to $67.81. The maker of luxury mattresses forecast earnings in 2012 of at least $3.80 a share, exceeding the average analyst estimate of $3.77.
TE Connectivity Ltd. (TEL) declined 2.9 percent, the most since Dec. 12, to $34.68. The Swiss manufacturer of automotive and aerospace products forecast full-year earnings excluding some items of $3.10 a share at most. That trailed the average analyst estimate of $3.27 in a Bloomberg survey.
Textron Inc. (TXT) rose the most in the S&P 500, rallying 15 percent to $24.76. The company forecast profit for this year that exceeded analysts’ estimates as demand for its Cessna aircraft recovers and Bell helicopter sales grow.
Total System Services Inc. (TSS) advanced 4.3 percent to $21.83, the highest price since July 2008. The credit-card processor reported fourth-quarter revenue of $472.2 million, beating the average analyst estimate of $462.7 million.
Xerox Corp. (XRX) fell 9.9 percent, the most since September 2009, to $7.81. The provider of printers and business services said earnings, excluding some items, will be 21 cents to 24 cents a share this quarter. Analysts predicted 24 cents, the average estimate compiled by Bloomberg.
WellPoint Inc. (WLP) dropped 4.8 percent, the most since Aug. 10, to $66.10. The largest U.S. health insurer by enrollment forecast 2012 earnings and reported fourth-quarter profit that trailed analyst estimates on higher medical costs.
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