Cisco, InfoSpace, News Corp., Tesla: 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.
Aeroflex Holding Corp. (ARX) slumped 25 percent, the most since its November 2010 initial public offering, to $7.17. The designer of radio frequency and microwave integrated circuits forecast fourth-quarter earnings excluding some items of 27 cents a share at most. That trailed the average analyst estimate of 31 cents in a Bloomberg survey.
Amag Pharmaceuticals Inc. (AMAG) fell 15 percent to $13.67, the lowest price since Nov. 1. The maker of the anemia drug Feraheme appointed William K. Heiden chief executive officer as the company turns its focus from pursuing a sale to expanding use of the medicine.
Cisco Systems Inc. (CSCO) dropped 10 percent, the most in the Dow Jones Industrial Average, to $16.81. The largest maker of equipment for computer networks forecast fourth-quarter sales and profit that missed analysts’ estimates, saying some business clients are reluctant to spend.
Salesforce.com Inc. (CRM) , the biggest provider of online customer-management software, fell 9.1 percent to $135.44.
EZchip Semiconductor Ltd. (EXCH) , an Israeli maker of network processors, lost 8.5 percent to $39.49.
Digital Generation Inc. (DGIT) lost 19 percent, the most since Feb. 16, to $8.17. The Irving, Texas-based network that links advertisers and radio and television stations reported first-quarter earnings that fell short of the average analyst estimate, data compiled by Bloomberg show.
Dynegy Inc. (DYN) advanced 16 percent, the most since April 26, to 44 cents. The power producer said it reached a settlement with creditors that would eliminate more than $4 billion of obligations and leave the entity with net debt of $600 million.
InfoSpace Inc. (INSP) rallied 22 percent, most since January 2010, to $13.36. The Internet search services company forecast second-quarter sales of at least $92.5 million. Two analysts estimated $88.6 million, on average, according to a Bloomberg survey.
Keryx Biopharmaceuticals Inc. (KERX) increased 13 percent to $1.64 for its biggest gain since April 23. The developer of treatments for cancer and renal disease was raised to buy from neutral at Roth Capital Partners LLC.
Live Nation Entertainment Inc. (LYV) rose 8.9 percent, the most since Jan. 3, to $9.05. The world’s biggest concert promoter and ticket-seller reported a narrower first-quarter loss than analysts estimated. Separately, Chief Executive Officer Michael Rapino said the company will compete to operate London’s Olympic Stadium after the games end in August.
MEMC Electronic Materials Inc. (WFR) sank 24 percent to $2.45, the lowest intraday price since 2001. The second-largest U.S. polysilicon maker posted a first-quarter loss 20 times greater than a year earlier, as sales and prices fell.
Monster Beverage Corp. (MNST) surged 9 percent to $71.17 for the third-biggest increase in the Russell 1000 Index. The distributor of energy drinks and fruit juices reported first- quarter earnings that exceeded analysts’ estimates, helped by international sales.
News Corp. (NWSA US) added 4.9 percent to $20.32, the highest price since December 2007. The media company posted third-quarter profit excluding some items of 37 cents a share, beating the average analyst estimate of 31 cents. News Corp. (NWSA) also doubled its stock-buyback program to $10 billion.
Priceline.com Inc. (PCLN) fell 5.3 percent, the most since Sept. 30, to $681.11. The biggest U.S. online travel agency by market value forecast second-quarter earnings will be no more than $7.40 a share, falling short of the average analyst estimate of $7.43.
Quad/Graphics Inc. (QUAD) jumped 7.6 percent, the most since Feb. 29, to $13.24. The printing company reported first- quarter profit that best analysts’ estimates.
Silicon Graphics International Corp. (SGI) declined 32 percent to $6.17, the lowest price since September 2010. The maker of computer servers forecast a loss in the fourth quarter of at least 37 cents a share. Analysts on average estimate a profit of 16 cents a share.
Tesla Motors Inc. (TSLA) rose 9.7 percent, the most since March 26, to $32.96. The maker of battery-powered cars run by entrepreneur Elon Musk narrowed its forecast for revenue in 2012 to between $560 million and $600 million after earlier projecting sales of as little as $550 million.
Universal Display Corp. (PANL) fell 10 percent, the most since Jan. 3, to $35.11. The developer of technologies used in flat-panel displays reported first-quarter sales of $12.6 million, missing the average analyst estimate of $16.5 million.
Virtusa Corp. (VRTU) surged 17 percent, the most since Oct. 4, to $14.67. The information technology services company said it will buy back as much as $15 million of its stock. BB&T Capital Markets raised its rating to buy from hold.
Windstream Corp. (WIN) retreated 10 percent, the most since its February 2005 IPO, to $10.09. The U.S. phone company that provides service to rural areas reported first-quarter sales of $1.55 billion, trailing the average analyst estimate of $1.56 billion in a Bloomberg survey.
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