Apollo Global, Arena, Jaguar, Savient: 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.
Apollo Global Management LLC (APO) advanced 5.3 percent, the most since Dec. 5, to $12.85. The private-equity firm that went public last year reported a 20 percent increase in first-quarter profit, better than analysts estimated, data compiled by Bloomberg show.
Arena Pharmaceuticals Inc. (ARNA) surged 26 percent, the most since December 2010, to $3.42. The cancer risks associated with the biotechnology company’ weight-loss pill in development were found to be in line with expectations, a Food and Drug Administration staff report showed.
Cognizant Technology Solutions Corp. (CTSH) rose the most in the Standard & Poor’s 500 Index, advancing 7.1 percent to $60.30. The information-technology company was raised to outperform, the equivalent of a buy recommendation, from neutral at Robert W. Baird & Co., which said the stock is “attractive” after a 19 percent plunge yesterday.
Dendreon Corp. (DNDN) plunged 25 percent, the most since Nov. 3, to $8.75. The maker of the prostate-cancer drug Provenge reported a first-quarter loss excluding some items of 67 cents a share, wider than the average analyst estimate of a loss of 64 cents, data compiled by Bloomberg show.
Discovery Communications Inc. (DISCA) fell 6.1 percent, the most since Nov. 9, to $50.80. The owner of cable networks such as Animal Planet and TLC reported a 28 percent decline in first-quarter profit after a one-time gain last year on Oprah Winfrey’s network, OWN.
Dun & Bradstreet Corp. (DNB) fell 14 percent, the most since September 2000, to $65.04. The owner of the Hoover’s business information service reduced its full-year sales forecast.
Electronic Arts Inc. (EA) dropped 4.3 percent to $14.48, the lowest price since July 2010. The second-largest U.S. video-game publisher forecast a loss in the first quarter of at least 40 cents a share, wider than the 33-cent loss projected by analysts on average.
Fabrinet (FN) slid 8.1 percent to $13.78, the lowest price since Dec. 30. The maker of optical telecommunications equipment forecast fourth-quarter earnings will be no more than 27 cents a share, missing the average analyst estimate of 31 cents.
Fossil Inc. (FOSL) plunged 38 percent, the most in the S&P 500, to $78.52. The watchmaker reported first-quarter revenue of $589.5 million, missing the average analyst estimate of $617.9 million, citing a softening economy in Europe. The company also lowered its 2012 earnings forecast to no more than $5.33 a share. The average analyst estimate is $5.56.
Generac Holdings Inc. (GNRC) rallied 25 percent, the most since it went public in February 2010, to $28.89. The generator maker proposed a one-time dividend of as much as $10 a share upon the completion of a debt financing.
Grand Canyon Education Inc. (LOPE) rose 12 percent, the most since Aug. 5, to $17.98. The for-profit college forecast earnings in 2012 will be at least $1.24 a share, beating the average analyst estimate of $1.21.
Jaguar Mining Inc. (JAG) plunged 35 percent, the most since December 2005, to $1.44. The company that operates gold mines in Brazil said China’s Shandong Gold Group Co. won’t proceed with a takeover of the company. Jaguar also announced a restructuring plan with a target to cut 40 percent in overhead and administrative costs. As a result, the company revised its forecast for gold production this year to 120,000 to 130,000 ounces.
Mako Surgical Corp. (MAKO US) plummeted 37 percent, the most since it went public in February 2008, to $26.27. The medical device company posted first-quarter revenue of $19.6 million, falling short of the average analyst estimate of $23.5 million.
Matrix Service Co. (MTRX) fell 13 percent, the most since Aug. 8, to $11.11. The provider of maintenance and construction services to oil refiners reduced its full-year earnings forecast to 85 cents a share at most. That’s lower than the average analyst estimate of 90 cents in a Bloomberg Survey.
McDonald’s Corp. (MCD) slipped 2.1 percent to $93.55, the lowest price since Nov. 29. The world’s largest restaurant chain said sales at stores open at least 13 months rose 3.3 percent worldwide last month, trailing analysts’ estimates, as sales growth slowed in the U.S.
Merge Healthcare Inc. (MRGE) plunged 36 percent, the most since November 2008, to $2.52. The medical imaging provider posted a surprise loss in the first quarter and withdrew its full-year forecasts.
Perrigo Co. (PRGO) fell 3.6 percent, the most since Oct. 27, to $100. The generic over-the-counter drugmaker reduced its full-year sales forecast.
Pitney Bowes Inc. (PBI) lost 4.6 percent to $16.02, the lowest price since 1995. The maker of postal meters reported first-quarter revenue of $1.26 billion, lower than the average analyst estimate of $1.30 billion in a Bloomberg Survey.
Rackspace Hosting Inc. (RAX) declined 8.9 percent, the most since Aug. 8, to $52.64. The biggest competitor to Amazon.com Inc. in the market for Web-based data centers reported first-quarter earnings of 17 cents a share, failing to exceed the average analyst estimate for the first time in four quarters.
Savient Pharmaceuticals Inc. (SVNT US) gained 17 percent, the most since September 2010, to $1.82. The maker of the gout medicine Krystexxa defeated a creditor’s bid for a court order blocking a debt transaction, allowing it to raise about $44 million and extend maturity on half of its debt.
Scotts Miracle-Gro Co. (SMG) fell 16 percent, the most since February 2007, to $46.14. The maker of lawn-care products reported second-quarter sales of $1.17 billion, trailing the average analyst estimate of $1.20 billion in a Bloomberg survey.
Synchronoss Technologies Inc. (SNCR) tumbled 29 percent, the most since May 2008, to $20.22. The developer of transactional software forecast second-quarter sales that missed analysts’ estimates. Wells Fargo & Co. cut its rating to market perform from outperform, meaning the stock’s return is expected to be in line with the market over the next 12 months.
Vertex Pharmaceuticals Inc. (VRTX) rose 10 percent to $64.16, the highest price since February 2001. The maker of the first medicine to target the underlying cause of cystic fibrosis had its rating raised by analysts at Morgan Stanley and Needham & Co.
Vitamin Shoppe Inc. (VSI) rallied 15 percent to $51.61, the highest price since it went public in October 2009. The vitamin retailer reported first-quarter profit of 61 cents a share, beating the average analyst estimate by 7.8 percent, according to data compiled by Bloomberg.
Vivus Inc. (VVUS) declined 3.4 percent, the most since April 30, to $22.78. The biopharmaceutical company in Mountain View, California, reported a first-quarter loss of 20 cents a share, wider than the 13-cent loss projected by analysts on average.
Wynn Resorts Ltd. (WYNN) lost 4.8 percent, the most since Feb. 3, to $119.23. The casino company founded by billionaire Steve Wynn reported first-quarter earnings fell 19 percent, missing analysts’ projections on lower winnings in Las Vegas.
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