Abercrombie, China Sky, Cimarex, Genesco: 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.
Abercrombie & Fitch Co. (ANF US) climbed 8.3 percent to $48.30, the second-biggest advance in the Standard & Poor’s 500 Index. The teen-clothing retailer said it expects its profit margin to stabilize this year. American Eagle Outfitters Inc. (AEO) , another retailer of teen apparel, rallied 5.8 percent to $14.35.
Active Power Inc. (ACPW) lost 14 percent, the second- biggest drop in the Russell 2000 Index, to 80 cents. The maker of backup mechanical batteries reported fourth-quarter revenue of $18.3 million, missing the average analyst estimate of $19.8 million.
BioSante Pharmaceuticals Inc. (BPAX) surged 27 percent to 97 cents, the second-biggest gain in the Nasdaq Composite Index. The original developer of Bio-T-Gel, a testosterone replacement therapy for men, and Teva Pharmaceutical Industries Ltd. (TEVA) won U.S. clearance to sell the drug.
China Sky One Medical Inc. (CSKI) plunged 28 percent, the most since September 2010, to $1.10, before trading was halted. The Chinese manufacturer of pharmaceutical and medical products said Chief Executive Officer Yanqing Liu is on sick leave for a “life-threatening illness” and that 26 employees resigned recently.
Cimarex Energy Co. (XEC) rose 19 percent to $81.59 for the biggest increase in the Russell 1000 Index. The Denver-based oil and gas producer reported fourth quarter revenue of $430.3 million, beating the average analyst estimate of $424.8 million, data compiled by Bloomberg show.
Comcast Corp. (CMCSA) jumped 4.7 percent to $28.52, the highest price since July 2007. The largest U.S. cable company agreed to buy back $6.5 billion in stock after fourth-quarter profit rose more than analysts estimated and video-customer losses narrowed for the fifth straight period.
Dean Foods Co. (DF) rose the most in the S&P 500, rallying 10 percent to $11.99. The biggest U.S. dairy processor reported first-quarter earnings excluding some items of 23 cents a share, beating the average analyst estimate of 19 cents.
Deere & Co. (DE US) had the biggest loss in the S&P 500, falling 5.4 percent to $84.28. The largest maker of agricultural equipment lowered its forecast for U.S. farmer revenue, an indicator of demand for its signature green and yellow machines.
Devon Energy Corp. (DVN) rose 7.2 percent, the most since May 2009, to $71.70. The biggest independent oil and natural-gas producer in the U.S. reported fourth-quarter earnings that beat analysts’ estimates and said it plans to cut spending on exploration and production to no more than $5.5 billion in 2012, from $6.9 billion last year.
FMC Technologies Inc. (FTI) slipped 5.1 percent to $51.02 for the second-biggest retreat in the S&P 500. The third- largest U.S. oilfield-equipment maker, reported operating profit margin for its biggest segment dropped more than expected.
Genesco Inc. (GCO) gained 4.8 percent to $67.91, the highest price since at least 1980. The operator of the Journeys shoe chain rallied after Sam Poser, an analyst at Sterne Agee & Leach Inc., raised his 12 month price estimate on the shares to $80 from $70. He cited Genesco’s plan to convert its urban concept Underground Station stores into Journeys Kidz and Shi by Journeys locations.
Given Imaging Ltd. (GIVN) rallied 4.7 percent to $18.62, the highest price since Aug. 4. The maker of capsule-sized cameras for diagnosing digestive ailments reported that net income increased and said it expects 2012 revenue to be between $190 million and $200 million.
Juniper Networks Inc. (JNPR) jumped 7 percent to $24.16, the highest price since Nov. 15. AT&T Inc. (T US) released its capital expenditures budget internally, which is an “important catalyst for equipment vendors,” Jefferies Group Inc. wrote in a note. The No. 2 maker of networking equipment remains Jefferies’ favorite among the vendors, the firm said in the note.
Kellogg Co. (K) rose 5.1 percent, the most since April 2009, to $52.87. The maker of Corn Flakes cereal and Keebler Cookies agreed to acquire Procter & Gamble Co.’s (PG US) Pringles potato chip business for about $2.7 billion in cash to bolster its snacks offerings after a deal with Diamond Foods Inc. (DMND US) fell through.
Owens Corning Inc. (OC) dropped 6.3 percent to $30.43, the biggest retreat in the Russell 1000. The U.S. maker of insulation said fourth-quarter earnings excluding some items of 40 cents a share, missing the average analyst estimate of 48 cents, data compiled by Bloomberg show.
Pinnacle Entertainment Inc. (PNK) rallied 5 percent, the most since Jan. 3, to $10.75. The U.S. casino owner reported adjusted fourth-quarter earnings excluding some items of 26 cents a share, beating the analyst estimate of 10 cents, according to data compiled by Bloomberg.
Powerwave Technologies Inc. (PWAV) fell 14 percent to $1.35, the lowest price since March 2009. The maker of wireless communication gear was cut to underweight from neutral by JPMorgan Chase & Co., which said the stock will underperform peers because of a lack of “a path to sustainable earnings or cash flow generation.”
VirnetX Holding Corp. (VHC) fell 4 percent to $23.57, the lowest price since Jan. 31. The U.S. Patent and Trademark Office ordered a reexamination of one of the Scotts Valley, California-based company’s patents, after Apple Inc. requested the review. VirnetX develops instant messaging and Internet- calling software.
Vonage Holdings Corp. (VG) declined 12 percent to $2.40, the biggest decline since Nov. 2. The biggest U.S. provider of telephone service over the Internet said it will invest in mobile and geographic expansion and boost its cash position. The company reported profit, excluding certain items, of $24.5 million or 10 cents a share, for the fourth quarter compared with $14.6 million, or 6 cents, a year earlier.
Wellcare Health Plans Inc. (WCG) rose 9.2 percent to $68.74, the highest price since October 2007. The manager of U.S. Medicare and Medicaid benefits said it will earn at least $4.40 a share in 2012, beating the average analyst estimate of $4.23.
Willis Group Holdings Ltd. (WSH) dropped 11 percent, the most since November 2008, to $34.52. The insurance broker reported fourth-quarter profit excluding some items of 46 cents a share, trailing the average analyst estimate of 48 cents in a Bloomberg survey.
Zynga Inc. (ZNGA) (ZNGA US) slipped 18 percent, the most since its initial public offering in December, to $11.80. The biggest developer of games for social-networking sites tumbled after product-development costs weighed on profit in the fourth quarter.
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