Avid, Caesars Entertainment, Kodiak, LPL: 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.
Alere Inc. (ALR) rose 8.7 percent to $26.64, the highest price since Aug. 3. The maker of medical diagnostics equipment reported fourth-quarter earnings and sales that beat analysts’ estimates.
Apollo Investment Corp. (AINV) sank 10 percent, the most since May 2009, to $7.11. The publicly traded credit fund cut its dividend to 20 cents a share from 28 cents. The New York- based company also reported third-quarter net investment income was 28 cents a share, missing the average analyst estimate by 2 cents.
Avid Technology Inc. (AVID) rallied 19 percent, the most since October 2002, to $11.89. The maker of software for digital audio and video production reported a fourth-quarter profit of 38 cents a share, beating the average analyst estimate of 19 cents.
Buffalo Wild Wings Inc. (BWLD) rose 17 percent to $82.19, the highest price since it went public in 2003. The operator of about 800 namesake restaurants said fourth-quarter profit excluding some items was 73 cents a share, topping the average analyst estimate of 67 cents.
Caesars Entertainment Corp. (CZR) (CZR US) surged 71 percent to $15.39 on the first day of trading. The U.S. casino chain with more than $22 billion in debt sold shares today in an initial public offering at a fraction of the size of its failed 2010 effort.
CBRE Group Inc. (CBG) fell 6 percent, the most since Dec. 8, to $18.10. The commercial real estate broker forecast 2012 earnings excluding some items of $1.20 a share to $1.25 a share. Analysts, on average, estimated $1.25, according to a Bloomberg survey.
Cerner Corp. (CERN) rose 13 percent to $70.88 for the second-biggest gain on the Standard & Poor’s 500 Index. The developer of technology for organizing medical records forecast earnings in 2012 to be as much as $2.30 a share, exceeding the average analyst estimate by 4 cents.
Computer Sciences Corp. (CSC) surged 19 percent, the most in the S&P 500, to $31.39. The technology contractor for governments and companies hired Mike Lawrie as president and chief executive officer to succeed Michael Laphen, who is retiring. The appointment suggests the board may be considering a sale or breakup of the company, Cowen & Co. said.
Guidance Software Inc. (GUID) surged 34 percent to $10.45, the second-biggest gain in the Russell 2000 Index. The company, which helps investigate hacking incidents, was raised to “buy” from “hold” by equity analyst Gary Spivak at Noble Financial Group Inc. after it reported fourth-quarter earnings of 16 cents a share, beating the average analyst estimate of 9 cents.
Hartford Financial Services Group Inc. (HIG) advanced 7.6 percent to $20.58, the highest price since Aug. 15. The seller of life insurance and property-casualty coverage reported fourth-quarter profit that beat analysts’ estimates and said commercial pricing improved. John Paulson, the billionaire hedge fund manager who controls the largest stake in Hartford, told Chief Executive Officer Liam McGee he needs to reverse the insurer’s stock slide.
Higher One Holdings Inc. (ONE) slumped 15 percent to $15.23, the lowest price since Sept. 12. The processor of financial-aid payments and provider of banking services to colleges cut its 2012 sales forecast to $230 million at most. That’s down from its November prediction of as much as $237 million and trailed the average analyst estimate of $233 million.
Intercontinental Exchange Inc. (ICE) rose 6 percent, the most since Aug. 11, to $130.08. The second-largest U.S. futures market said fourth-quarter profit rose 28 percent, led by European energy trading and over-the-counter clearing commissions. Per-share earnings excluding some items were $1.76, beating the average analyst estimate of $1.69.
Kodiak Oil & Gas Corp. (KOG US) rose 5.2 percent, the most since Dec. 9, to $9.44. The Denver-based oil and natural gas explorer with assets in the Williston Basin of North Dakota said it has entered into a contract for a seventh operated rig.
Level 3 Communications Inc. (LVLT US) rallied 8.8 percent, the most since Aug. 9, to $21.31. The broadband services provider said 2012 earnings before interest, taxes, depreciation and amortization will increase as much as 25 percent.
LPL Investment Holdings Inc. (LPLA) had the second- biggest decline in the Russell 1000 Index, dropping 9.6 percent to $32.44. The brokerage and investment advisory firm reported fourth-quarter earnings of 44 cents a share, excluding some items, missing the average analyst estimate of 46 cents.
Opnet Technologies Inc. (OPNT) plunged 15 percent to $32.13, the lowest price since Sept. 2. The management software maker reported third-quarter earnings of 26 cents a share, falling short of the average analyst estimate by 3 cents.
Powell Industries Inc. (POWL) fell 11 percent, the most since May 2009, to $34.24. The maker of electricity and process- control products reported a first quarter loss of 15 cents a share, which may not compare with the average analyst estimate of earnings of 20 cents a share.
Ralph Lauren Corp. (RL) rose 9.2 percent to $171.49, the highest price since it went public in 1997. The clothing designer and retailer said revenue in the current fiscal year may increase more than it previously expected.
Rambus Inc. (RMBS) gained 9.1 percent, the most since Dec. 23, to $8.24. The designer of high-speed memory chips that gets most of its sales from royalties said it signed a patent agreement with Nvidia Corp. (NVDA US), which also rose 4.8 percent to $16.44, settling all claims with the chipmaker.
Silicon Graphics International Corp. (SGI) plunged 23 percent to $11.12 for the biggest loss on the Russell 2000. The maker of computer servers cut its full-year forecast after second-quarter earnings missed analysts’ estimates.
Teekay Tankers Ltd. (TNK) declined 12 percent, the most since Oct. 3, to $4. The owner of crude-oil tankers said it’s offering 15 million shares at $4 each to raise money to repay debt.
Vishay Intertechnology Inc. (VSH) rallied 5.6 percent to $13.10, the highest since Aug. 2. The maker of electronic components was raised to “overweight” from “neutral” by equity analyst Steven O’Brien at JPMorgan Chase & Co, with a 12- month price estimate of $15.50. The shares fell 3.1 percent yesterday after the company’s fourth-quarter earnings missed analyst estimates.
Western Union Co. (WU) slumped 10 percent to $17.73 for the biggest retreat in the S&P 500. The world’s largest money- transfer business forecast earnings in 2012 will be no more than $1.75 a share, less than the average analyst estimate of $1.81.
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