Baker Hughes, LinkedIn, Omnova, USG: 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.
Index changes: CVB Financial Corp. (CVBF) will replace Wright Express Corp. (WXS US) in the Standard & Poor’s SmallCap 600 Index after the close of trading on March 26, S&P said in statement. CVB rose 4.3 percent to $11.82.
AAR Corp. (AIR) declined 9.7 percent, the most since May 2010, to $20.04. The Wood Dale, Illinois-based commercial jet aircraft lessor had third-quarter earnings that missed analyst projections, according to data compiled by Bloomberg.
Assured Guaranty Ltd. (AGO) fell the most in the Russell 1000 Index, sinking 13 percent to $16.30. The financial strength ratings of the company’s insurance units were placed on review for downgrade by Moody’s Investors Service.
Baker Hughes Inc. (BHI) fell 5.8 percent, the most since Nov. 9, to $45.04. The oilfield contractor said operating profit before tax for the first quarter is expected to be lower than the fourth quarter of 2011 because of “rapidly changing” market conditions.
Cintas Corp. (CTAS) lost 3.1 percent, the most since Nov. 9, to $39.20. The provider of restroom supplies and entrance mats was cut to neutral from outperform at Robert W. Baird & co.
FSI International Inc. (FSII US) increased 5.9 percent to $4.87, the highest price since May 18. The maker of equipment for chip factories reported second-quarter earnings of 9 cents a share, exceeding the average analyst estimate by 4 cents.
Green Mountain Coffee Roasters Inc. (GMCR) added 10 percent, the most since Feb. 2, to $55.79. The maker of Keurig coffee machines expanded its partnership with Starbucks Corp. (SBUX) , allowing the sale of Starbucks-branded Vue for use in Green Mountain’s Vue brewer.
Hercules Offshore Inc. (HERO) rose 5.9 percent to $5.38, the highest price since Feb. 27. The Houston-based offshore drilling company will sell as many as 20 million shares in a secondary offering. Half of the proceeds will be used to repay debt and another portion will be used to buy a rig. The company was raised to market perform from underperform at FBR Capital Markets, meaning that its stock will neither beat nor trail its peers over the next 12 months.
LinkedIn Corp. (LNKD) rose 6.5 percent, the third-most in the Russell 1000 Index, to $97.78. The biggest professional-networking website was raised to buy from neutral at Goldman Sachs Group Inc.
L&L Energy Inc. (LLEN) climbed 6.3 percent, the most since Feb. 17, to $2.52. The U.S.-based company operating coal businesses in China signed an agreement with AVIC International Coal Logistics to expand coal sales throughout the Guizhou province.
Meritor Inc. (MTOR) advanced 13 percent to $8.40, the highest price since Nov. 11. The maker of parts for cars and trucks reaffirmed its forecast for 2012 revenue to be $4.8 billion and adjusted earnings of $1.08 to $1.39 a share.
Netflix Inc. (NFLX) rose 4.4 percent to $120.10, the highest price since Feb. 17. The online and mail-order video-rental service said the mystery series “Hemlock Grove” will be available exclusively to its members for instant viewing early in 2013.
NGP Capital Resources Co. (NGPC) lost 7.8 percent, the most since Oct. 3, to $6.74. The Houston-based fund that invests in energy companies cut its dividend by a third because of first-quarter earnings.
Omnova Solutions Inc. (OMN) surged 16 percent, the most since Dec. 20, to $6.56. The polymer maker posted first-quarter profit excluding some items of 23 cents a share, double the average analyst estimate in a Bloomberg survey.
On Assignment Inc. (ASGN) rose the most in the Russell 2000 Index, rallying 27 percent to $17.32. The provider of temporary workers to technology and health-care companies agreed to purchase information technology staffing firm Apex Systems Inc. for $600 million. The deal is expected to “significantly” add to earnings this year, the Calabasas, California-based company said.
SAIC Inc. (SAI US) gained 3.5 percent to $13.61, the highest price since Aug. 31. The defense contractor forecast earnings from continuing operations in 2013 will be no more than $1.36 a share, falling short of the average analyst estimate of $1.38. The McLean, Virginia-based company initiated a quarterly dividend of 12 cents a share and said it may buy back 40 million shares.
USG Corp. (USG) increased 11 percent to $19, the highest price since Feb. 17. The maker of Sheetrock wallboard reported an operating profit of $5.7 million for January and February, compared with an operating loss for the first two months of 2011. Sales rose 16 percent over the previous period.
Watson Pharmaceuticals Inc. (WPI US) climbed the most in the S&P 500, adding 8.8 percent to $63.69. The second-biggest U.S. generic-drug maker is in talks to buy Actavis Group hf (ACT IR), a Swiss maker of generic drugs, a person with knowledge of the matter said.
To contact the reporter on this story: Whitney Kisling in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Nick Baker at email@example.com