Alexza, DigitalGlobe, LinkedIn, Rovi: 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.
Alexza Pharmaceuticals Inc. (ALXA) plunged 20 percent to 49 cents, the lowest intraday price since it went public in 2006. The Food and Drug Administration denied marketing approval to the drugmaker’s antipsychotic treatment Adasuve, citing manufacturing deficiencies.
American International Group Inc. (AIG) declined 3.8 percent, the most since March 8, to $32.83. The insurer majority owned by the U.S. Treasury Department after a 2008 bailout said first-quarter profit more than doubled on investment gains and a decrease in claims costs from natural disasters.
Aon Corp. (AON) slid 5.8 percent, the most since Oct. 28, to $48.39. The insurance broker reported first-quarter profit excluding some items of 98 cents a shares, trailing the average analyst estimate by 6.1 percent, according to data compiled by Bloomberg.
Bebe Stores Inc. (BEBE) dropped 22 percent, the most since September 2005, to $6.27. The women’s clothing retailer forecast fourth-quarter earnings of no more than 4 cents a share, missing the 8-cent profit estimated by analysts on average.
Body Central Corp. (BODY) plunged 49 percent, the most in the Russell 2000 Index, to $14.88. The women’s clothing retailer cut its forecast for full-year earnings per share and said comparable sales may fall.
DigitalGlobe Inc. (DGI) surged 22 percent, the most since its initial public offering in May 2009, to $16.44. GeoEye Inc. (GEOY US) made a $17 per share offer for the satellite-photography company, a 26 percent premium to yesterday’s closing price.
Digital River Inc. (DRIV) fell 12 percent, the most since Oct. 28, to $16.39. The company that builds and manages online businesses forecast second-quarter earnings of no more than 19 cents a share, compared with the average analyst estimate of 23 cents.
Dolby Laboratories Inc. (DLB) rose 18 percent, the most since February 2009, to $44.22. The sound and video pioneer narrowed its 2012 profit forecast to between $2.80 a share and $3.04, compared with the average analyst estimate of $2.87.
International Rectifier Corp. (IRF) fell 10 percent, the most since Aug. 18, to $19.96. The decline in the semiconductor manufacturer’s gross margin appears to be worse than expected, according to Raymond James Financial Inc. The company’s fiscal third-quarter gross margin decreased by 5.6 percentage points to 29.8 percent from the previous three months, Raymond James said in a note.
InvenSense Inc. (INVN) slumped 23 percent, the most intraday since it went public in November, to $12.91. The producer of gyroscopes for consumer electronics provided a “shaky” forecast, reducing its fiscal first-quarter sales estimate to between $38 million to $40 million, the low end of a prior range, according to Piper Jaffray & Cos.
LeapFrog Enterprises Inc. (LF) surged 15 percent to $10.29, the highest price since October 2008. The maker of electronic education products for children forecast earnings in 2012 of at least 52 cents a share, up from an earlier projection of no more than 45 cents and beating the average analyst estimate of 50 cents.
LinkedIn Corp. (LNKD) climbed 7.2 percent to $117.30, the highest price since May 2011. The biggest professional-networking website reported first-quarter sales and profit that topped analyst estimates amid a jump in membership.
QLogic Corp. (QLGC) dropped 9.5 percent, the most since July 2010, to $15.26. The supplier of chips and switches for corporate networks forecast first-quarter earnings excluding some items of 28 cents a share at most. Analysts, on average, estimated 34 cents, according to a Bloomberg survey.
Rovi Corp. (ROVI) retreated 4.9 percent, the most since March 6, to $26.86. The provider of digital entertainment guides’ Chief Financial Officer James W. Budge said on a conference call with analysts that he’s leaving the company.
Sapient Corp. (SAPE) slid 12 percent, the most since November 2009, to $9.77. The technology consulting company posted first-quarter service revenue of $260.6 million, missing the average analyst estimate of $267.4 million.
Southwestern Energy Co. (SWN) fell the most in the Standard & Poor’s 500 Index, sinking 7.2 percent to $28.73. The natural gas producer reported first-quarter sales and earnings that missed analysts’ estimates.
Warnaco Group Inc. (WRC US) fell 6.2 percent, the most since Oct. 3, to $47.94. The global designer and seller of products under brands including Calvin Klein and Speedo reported first-quarter earnings from continuing operations of 90 cents a share, falling short of the average analyst estimate of 93 cents.
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