Advance Auto, JPMorgan Chase, Kior: 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.
Banks retreated as Greece struggled to form a government amid growing speculation the nation may leave the euro region. Citigroup Inc. (C) declined 4.1 percent to $28.14. Bank of America Corp. (BAC US) slipped 2.7 percent to $7.35. Deutsche Bank AG (DBK) fell 3.7 percent to $38.15. Morgan Stanley (MS) dropped 4.4 percent to $14.30.
Advance Auto Parts Inc. (AAP) declined 6.9 percent, the most since May 2011, to $82.34. The auto parts retailer based in Roanoke, Virginia, was cut to neutral from buy at Cleveland Research Inc.
Ancestry.com Inc. (ACOM US) fell 14 percent, the second-most in the Russell 2000 Index, to $22.57. NBC’s decision not to renew the “Who Do You Think You Are?” show “could hamper” shares of the online provider of family histories in the short term, according to BMO Capital Markets.
Avon Products Inc. (AVP) rose 3.8 percent to $20.96 for the third-largest increase in the Standard & Poor’s 500 Index. The door-to-door cosmetics seller said it will respond within a week to Coty Inc., the perfume-maker that last week boosted its takeover offer for Avon to $10.7 billion.
Best Buy Co. (BBY) added 1.5 percent to $19.56 for its first gain since May 1. Founder Richard Schulze will step down as chairman after a probe found he failed to tell the board about allegations that then-Chief Executive Officer Brian Dunn was having an inappropriate relationship with a female employee.
BMC Software Inc. (BMC US) advanced 8.7 percent to $43.92 for the biggest gain in the S&P 500. The maker of software to manage corporate computer networks said it adopted takeover defenses after Elliott Associates LP notified the company that it acquired a stake of more than 5 percent.
Chesapeake Energy Corp. (CHK) gained the second-most in the S&P 500, jumping 4.8 percent to $15.52. The second-largest U.S. natural-gas producer reached a $3 billion loan agreement with a unit of Goldman Sachs Group Inc. and affiliates of Jefferies Group Inc.
Francesca’s Holdings Corp. (FRAN) rallied 6.6 percent, the most since April 18, to $25.61. The Houston-based retailer of apparel and accessories fired Chief Financial Officer Gene Morphis for “improperly” communicating company information through social media.
Groupon Inc. (GRPN) rallied 19 percent, the most since Nov. 4, to $11.74. The largest provider of daily deals online may meet or beat its forecast when reporting earnings after the close of trading today, according to Benchmark & Co. A strong quarter and Facebook Inc.’s initial public offering “could set the stage for a big rally,” Benchmark said.
Zynga Inc. (ZNGA) gained 6.3 percent to $7.95.
InterOil Corp. (IOC) declined 6.7 percent, the most since April 5, to $53.73. The natural-gas explorer and oil refiner said it received a notice that the Papua New Guinea government will cancel a liquefied natural gas project in the country.
JPMorgan Chase & Co. (JPM) sank 3.2 percent to $35.79, the lowest price since Jan. 17. The largest and most profitable U.S. bank had its credit grade lowered one level to A+ by Fitch Ratings after disclosing a $2 billion trading loss. Chief Investment Officer Ina Drew will retire from the firm after more than 30 years, the company said.
Kior Inc. (KIOR) advanced 11 percent, the most since April 11, to $9.89. The Texas producer of gasoline and diesel from wood reported a first-quarter loss that matched the average analyst projection, data compiled by Bloomberg show.
Republic Services Inc. (RSG) fell 3.7 percent to $25.73, the lowest price since Aug. 10. The waste hauler was cut to neutral from outperform at Wedbush Securities Inc., which cited price competition.
Ultimate Software Group Inc. (ULTI) increased 3.5 percent, the most since April 25, to $78.18. The Weston, Florida-based business software company was raised to buy from sell at Goldman Sachs Group Inc., which said revenue growth should increase in the second half of the year.
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