Achillion, Aon, Cypress, Gentex: 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.
Achillion Pharmaceuticals Inc. (ACHN) had the second- biggest decline in the Russell 2000 Index, sinking 13 percent to $8.30. The drug developer was cut to sell from neutral at UBS AG.
Boston Scientific Corp. (BSX) gained 5.6 percent, the most since Feb. 24, to $5.85. The second-largest heart-device maker by revenue reported first-quarter profit that exceeded analysts’ estimates for a 10th straight quarter, according to data compiled by Bloomberg.
CVR Energy Inc. (CVI) jumped 8.2 percent to $30.16, the highest price since at least October 2007. The owner of two oil refineries lifted a “poison pill” provision and agreed to allow investor Carl Icahn’s $30-a-share takeover offer that gained the support of a shareholder majority earlier this month.
Cypress Semiconductor Corp. (CY) rallied 12 percent, the most since October 2008, to $16. The San Jose, California-based maker of chips for hand held devices reported first-quarter profit that beat the average analyst estimate by 28 percent, according to data compiled by Bloomberg.
Danaher Corp. (DHR) fell 3.1 percent, the most since April 10, to $53. The maker of microscopes and water-treatment systems forecast second-quarter earnings excluding some items of 77 cents to 82 cents a share. The average analyst estimate was 82 cents.
EBay Inc. (EBAY) rose 13 percent, the biggest rally in the Standard & Poor’s 500 Index, to $40.62. The world’s largest Internet marketplace reported sales and profit that topped analysts’ estimates, led by growth in its PayPal online-payments business.
EMC Corp. (EMC) fell 3.6 percent, the most since Dec. 21, to $28.10. The world’s biggest maker of storage computers said it will “meet or potentially exceed” its prior full-year 2012 of profit excluding some items of $1.70 a share. Analysts, on average, estimated $1.75, according to a Bloomberg survey.
F5 Networks Inc. (FFIV) gained 7.8 percent, the most since Jan. 19, to $133.98. The software maker said annual revenue will climb at least 20 percent and said second-quarter adjusted earnings were $1.09 a share, exceeding the $1.07 average analyst projection. Revenue also beat estimates, data compiled by Bloomberg show.
First Horizon National Corp. (FHN) dropped 7.8 percent, the biggest drop in the Standard & Poor’s 500 Index, to $9.18. Tennessee’s biggest bank reported first-quarter profit of 12 cents a share, missing the average analyst estimate by 1 cent, according to Bloomberg data.
Gentex Corp. (GNTX) slid 16 percent, the biggest decline in the Russell 1000 Index, to $21.35. The maker of rear- and side-view mirrors that include camera displays forecast a 15 percent increase in second-quarter sales, trailing analysts’ estimates.
Gilead Sciences Inc. (GILD) surged 12 percent, the most since October 2008, to $52.25. The world’s largest HIV drugmaker said its experimental hepatitis C drug cleared the virus in 88 percent of patients four weeks after treatment ended in a study.
Houston American Energy Corp. (HUSA) slumped 36 percent to $2.25 for the biggest retreat in the Russell 2000 Index. The energy company said it will stop testing and completing two formations in the Tamandua #1 sidetrack well, citing damage while drilling. The company also said it’s under an investigation by the Securities and Exchange Commission.
Human Genome Sciences Inc. (HGSI) surged 98 percent, the biggest gain in the Russell 1000 Index, to $14.17. The drugmaker rejected an unsolicited offer from GlaxoSmithKline Plc (GSK) , its partner on the lupus treatment Benlysta, to buy the U.S. company for about $2.59 billion, or $13 a share. Anthera Pharmaceuticals Inc. (ANTH) , which is developing a treatment for lupus, increased 5.6 percent to $2.08.
Marriott International Inc. (MAR) rose 4.3 percent, the most since Nov. 30, to $39.45. The largest publicly traded U.S. hotel chain had first-quarter revenue that exceeded analyst projections and raised its 2012 earnings estimate to as much as $1.69 a share, compared with the $1.60 average forecast of analysts surveyed by Bloomberg.
Mellanox Technologies Ltd. (MLNX) surged 52 percent, the most since it went public in February 2007, to $65.91. The Israeli maker of technology used to transfer data quickly forecast second-quarter revenue exceeding analysts’ estimates.
Nucor Corp. (NUE) erased 5 percent, the most since Sept. 22, to $40.09, after. The largest U.S. steelmaker by market value said it sees “only a modest improvement” in second- quarter earnings, citing a deterioration in steel mill pricing and margin trends in the first quarter due to a resurgence in imports and increased competition from new domestic sheet mill supply.
Peabody Energy Corp. (BTU) rose 7 percent to $30.46, the highest price since March 22. The largest U.S. coal producer posted first-quarter earnings that beat analysts’ estimates after an increase in output and revenue per ton in Australia.
Qualcomm Inc. (QCOM) declined 6.6 percent, the most since Aug. 8, to $62.57. The largest maker of mobile-phone chips projected third-quarter sales and profit that fell short of analysts’ estimates as it increases spending to improve output of chips.
Rockwell Collins Inc. (COL) sank 4.8 percent, the most since Aug. 18, to $55.85. The maker of airplane cockpit instruments forecast revenue in 2012 will be about $4.85 billion, below an earlier projection of at least $4.9 billion and missing the average analyst estimate of $4.95 billion.
Splunk Inc. (SPLK) more than doubled to $35.48 on the first day of trading. The maker of software that helps companies analyze Web data raised $229.5 million after pricing its shares 70 percent above the originally proposed range in an initial public offering.
Stanley Black & Decker Inc. (SWK) fell 7.1 percent, the most since Aug. 8, to $72.91. The producer of power tools reported first-quarter earnings that trailed analysts’ estimates for the first time since 2008, according to data compiled by Bloomberg.
Tumi Holdings Inc. (TUMI) surged 47 percent to $26.50 on the first day of trading. The luggage maker owned by Doughty Hanson & Co. raised $338 million in its initial public offering, pricing higher than the proposed range.
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