Celanese, Emerson, Sears, Sourcefire: 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 1:45 p.m. in New York.
Solar stocks rallied after Citigroup Inc. raised its recommendation on the industry, citing “signs of a near-term bottom.” SunPower Corp. (SPWR) rose 7.8 percent to $6.05. Yingli Green Energy Holding Co. (YGE) climbed 5.2 percent to $3.83. Trina Solar Ltd. (TSL) jumped 3 percent to $7.48.
Abercrombie & Fitch Co. (ANF) advanced 5.7 percent, the most since Feb. 15, to $53.02. The teen-clothing retailer was boosted to buy from neutral at UBS AG.
Agco Corp. (AGCO) rose 6 percent, the most since Nov. 30, to $49.34. The third-largest farm machinery maker forecast 2012 profit and sales that were higher than analysts’ estimates after demand improved in North America and Europe.
Archer Daniels Midland Co. (ADM) rose 7.1 percent to $33.02, the highest price since May 2011. The largest grain processor topped analysts’ profit estimates for the first time in four quarters after international grain sales and oilseed processing in North America improved.
Arrow Electronics Inc. (ARW) fell 8.8 percent, the most since November 2008, to $38.37. The electronic component and computer product distributor reported first-quarter earnings excluding some items of $1.05 a share, missing the average analyst estimate of $1.09.
Avis Budget Group Inc. (CAR) jumped 19 percent, the most since May 2009, to $15.67. The U.S. auto-rental chain forecast annual profit that topped analysts’ estimates on higher values for used cars.
Avon Products Inc. (AVP) fell the most in the Standard & Poor’s 500 Index, sinking 8 percent to $19.87. The door-to-door cosmetics seller reported first-quarter profit that trailed analysts’ estimates, hurt by higher labor and materials costs.
Central European Media Enterprises Ltd. (CETV) climbed 8.2 percent to $8.56, the highest price since Feb. 16. The TV broadcaster said it’s receiving $386.4 million in financing from Time Warner Inc. and billionaire Ronald Lauder to pay debts coming due starting in 2013.
Chesapeake Energy Corp. (CHK) rose 6.3 percent, the most since Jan. 23, to $19.60. The oil and natural gas company said it will name an independent chairman to replace Aubrey McClendon and halt an incentive program that allowed the chief executive officer to amass personal stakes in thousands of company-operated wells.
Emerson Electric Co. (EMR) dropped 6.4 percent, the most since Aug. 18, to $49.18. The maker of industrial equipment and InSinkErator-brand garbage disposals cut its 2012 earnings forecast and reported second-quarter revenue and earnings that missed the average analyst estimate.
Forest Oil Corp. (FST) had the second-biggest loss in the Russell 1000 Index, sliding 11 percent to $11.88. The Denver-based oil and gas company reported first-quarter sales and profit that missed analysts’ estimates.
Genco Shipping & Trading Ltd. (GNK US) tumbled 15 percent, the most since Oct. 3, to $4.57. Robert Buchanan, president the New York-based operator of 53 dry-bulk vessels, said banks stopped lending to companies owning ships that carry minerals and other dry-bulk commodities.
Herbalife Ltd. (HLF) declined 20 percent, the most since February 2009, to $56.30. The seller of nutritional and weight-loss supplements forecast second-quarter earnings of no more than 95 cents a share, missing the average analyst estimate by 1 cent. Hedge-fund manager David Einhorn questioned management during a conference call on why the company has stopped providing information tracking certain groups of its distributors in its filings.
Huntsman Corp. (HUN) jumped 8.9 percent to $15.42, the highest price since Aug. 3. The chemical maker reported first-quarter earnings excluding some items of 74 cents a share, beating the average analyst estimate by 88 percent, according to data compiled by Bloomberg.
Integrated Device Technology Inc. (IDTI) fell 9.5 percent, the most since Aug. 2, to $6.13. The maker of semiconductors used in networks said it bought Fox Electronic for $30 million and agreed to acquire PLX Technology Inc. (PLXT) for $330 million, or $7 a share. PLX soared 67 percent to $6.66.
Imperial Sugar Co. (IPSU US) surged 58 percent, the most since Feb. 9, to $6.40. Louis Dreyfus Holding BV, the Amsterdam-based commodities trader, agreed to acquire the Sugar Land, Texas-based company for $6.35 a share, or about $77.6 million, to add refining operations to its sugar business.
Jacobs Engineering Group Inc. (JEC) fell 4.5 percent, the most since Nov. 9 to $41.86. The engineering company reduced its full-year earnings forecast to $3 a share at most, less than the average analyst estimate of $3.04.
Masco Corp. (MAS) gained 5.7 percent, the most since March 13, to $13.93. The home improvement and building products maker reported first-quarter earnings that exceeded analysts’ estimates.
Meru Networks Inc. (MERU) dropped 15 percent to $2.40, the lowest price since its initial public offering in March 2010. The maker of Wi-Fi networking equipment was cut to neutral from outperform at Robert W. Baird & Co.
NuVasive Inc. (NUVA) climbed 23 percent, the most since February 2010, to $20.39. The company reported sales of its spinal surgery products and biologics to help bone heal that beat investors’ expectations.
Pep Boys -- Manny, Moe & Jack (PBY) slumped 22 percent, the most since December 2008, to $11.62. The Philadelphia-based automotive retailer that agreed to be acquired by Gores Group said its would-be buyer is concerned about “serious deterioration” in the business.
P.F. Chang’s China Bistro Inc. (PFCB US) rallied 30 percent, the most since 1998, to $51.48. The restaurant owner said it agreed to be purchased by Centerbridge Partners LP, a private investment firm, for about $1.1 billion.
QuinStreet Inc. (QNST) slid 13 percent, the most since Nov. 8, to $9.17. The Internet advertising company cut its annual revenue forecast to no more than $370 million. Analysts projected $396.6 million, according to the average in a Bloomberg survey.
Sears Holding Corp. (SHLD) rose the most in the S&P 500, jumping 15 percent $62.05. The retailer controlled by hedge-fund executive Edward Lampert said it had first-quarter earnings per share of $1.46 to $1.84 after a gain from selling some stores in the U.S. and Canada.
Sourcefire Inc. (FIRE US) increased 13 percent to $57.63, the highest price since it went public in March 2007. The network-security company forecast second-quarter sales of as much as $48.5 million, exceeding the average analyst estimate of $46.4 million.
US Ecology Corp. (ECOL) tumbled 23 percent, the most since October 2008, to $16.71. The waste-disposal company reduced its full-year forecast, saying it now expects to earn no more than $1.02 a share. Analysts, on average, estimated $1.15, according to a Bloomberg Survey.
Veeco Instruments Inc. (VECO) rose 15 percent, the most since July 2009, to $34.82. The maker of gear for chipmakers and data storage reported first-quarter revenue of $139.9 million, beating the average analyst estimate of $124.6 million.
ViroPharma Inc. (VPHM US) sank 9.7 percent to $19.64, the lowest price since Oct. 25. The pharmaceutical company cut its 2012 sales forecast by 24 percent and reported first-quarter earnings excluding some items of 37 cents a share, falling short of the average analyst estimate of 51 cents.
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