Stocks on the Move: Anadarko, Citi, Gartner, Lilly
Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 1:40 p.m. in New York.
Anadarko Petroleum Corp. (APC) rose 1.8 percent to $58.13. The second-largest producer of natural gas in the U.S. disclosed a discovery at the Lucius exploration well in Keathley Canyon block 875. Anadarko operates the Lucius well with a 50 percent working interest.
Plains Exploration & Production Co. (PXP), which has a 33 percent working interest, added 4.6 percent to $26.68. Mariner Energy Inc. (ME), which has a 17 percent interest, rose 3.9 percent to $13.43.
Akeena Solar Inc. (AKNS) rallied 42 percent to $1.41 and surged 78 percent earlier, the most intraday since September 2006. The Los Gatos, California-based designer of solar energy systems said Lowe's Cos. (LOW), the second-largest U.S. home- improvement retailer, began offering its Andalay AC solar panels in California.
Ciena Corp. (CIEN) dropped the most in the Standard & Poor's 500 Index, sliding 11 percent to $11.78. The fiber-optic gear maker for phone companies reported adjusted fourth-quarter loss of 12 cents a share. Analysts surveyed by Bloomberg estimated a loss of 7 cents on average.
Coca-Cola Co. (KO) added 1.3 percent to $58.58 and earlier rose to $58.65, the highest intraday level since May 2008. Drinks made by the Atlanta-based company will return to the shelves of Costco Wholesale Corp., the world's largest U.S. warehouse club, after a pricing dispute.
Eli Lilly & Co. (LLY) lost 3.8 percent to $35.16 and earlier declined 4.9 percent, the biggest intraday drop since Oct. 21. The maker of the antipsychotic Zyprexa said 2009 profit excluding some costs probably won't exceed $4.40 a share. Analysts polled by Bloomberg estimated $4.42 per share on average.
El Paso Corp. (EP) fell 3.3 percent to $9.08 and earlier fell to $8.94, the lowest intraday price since Sept. 4. The owner of the longest U.S. interstate pipeline network said per- share earnings excluding some items will fall to between 75 cents and 95 cents a share next year. That compares with an average analyst estimate of 89 cents, according to Bloomberg data.
Entropic Communications Inc. (ENTR) gained 2.6 percent to $3.16 and increased 13 percent earlier, the most intraday since Oct. 5. The designer of digital home networking semiconductors was raised to "overweight" from "market- weight" at Thomas Weisel Partners.
FuelCell Energy Inc. (FCEL) dropped 7.4 percent to $3.14 after sliding 17 percent earlier, the most intraday since March 27. The maker of pollution-free power plants reported fourth- quarter revenue of $20.4 million, trailing the average analyst estimate by 26 percent.
Gannett Co. (GCI) rose the most in the S&P 500, climbing 7.3 percent to $12.87. The USA Today publisher added to its 1.7 percent gain yesterday, when Chief Financial Officer Gracia Martore said the company is likely to beat analysts' average estimate for fourth-quarter earnings per share on slowing declines in advertising revenue. Gartner Inc. (IT) dropped 5.2 percent to $17.40 after sinking as much as 8.1 percent, the most intraday since Feb. 5. The research firm that forecasts computer and mobile-phone sales said Silver Lake will sell about 8 million shares of Gartner stock in a public offering.
Goodrich Petroleum Corp. (GDP) surged 6.2 percent to $21.64 and earlier rallied 7.4 percent, the most intraday since Sept. 9. The oil and gas explorer with properties mostly in Louisiana and Texas was raised to "buy" from "neutral" at SunTrust Robinson. The 12-month share estimate is $28.
Greif Inc. (GEF) lost 5.3 percent to $54.40 and declined 10 percent earlier, the most intraday since October 2008. The maker of shipping and packaging equipment predicted 2010 profit between $4 and $4.25 per share. Analysts polled by Bloomberg estimated $4.21 per share on average.
Hansen Medical Inc. (HNSN) climbed 12 percent to $2.98 and rallied as much as 19 percent, the most intraday since Nov. 11. The maker of medical robotics was raised to "buy" from "hold" at Brean Murray.
ING Groep NV (ING) climbed 6.5 percent to $8.89 after rising as much as 7.2 percent, the most intraday since Nov. 24. The Netherlands' biggest financial-services company was added to Bank of America-Merrill Lynch's "Europe 1" list.
Oxford Industries Inc. (OXM) rose 14 percent to $24.11 and advanced earlier to $24.55, the highest intraday price since October 2008. The maker of Tommy Bahama clothing increased its forecast, projecting profit excluding some items of at least $1.20 a share in the current fiscal year.
Pall Corp. (PLL) had the second-biggest advance in the S&P 500, gaining 6.6 percent to $33.46. The maker of filters for refineries and drugmakers said that, excluding some items, it expects to earn at least $2.02 a share in the current fiscal year. That topped the average analyst estimate of $1.91 from a Bloomberg survey.
Siga Technologies Inc. (SIGA) fell 15 percent to $7.40 and retreated as much as 16 percent, the most intraday since November 2008. The maker of vaccines and antibiotics said it agreed to sell 2.73 million shares at $7.35 each and plans to use the money to fund product development. The creation of additional shares tends to dilute future earnings for existing shareholders.
Other companies that are offering shares also fell. Pennichuck Corp. (PNNW) a water utility company that's offering to sell $7.35 million of stock, slipped 11 percent to $20.73. Universal Travel Group (UTA), a travel services company that priced 2.2 million shares at $9 each, dropped 11 percent to $9.18.
Steel Dynamics Inc. (STLD) dropped 1.9 percent to $18.04. The third-largest U.S.-based steelmaker projected fourth-quarter profit of 10 cents to 20 cents a share. The average estimate of 13 analysts surveyed by Bloomberg was for earnings of 23 cents.
United Technologies Corp. (UTX) added 0.9 percent to $67.96 after rising as much as 2.4 percent, the most intraday since Nov. 9. The maker of power-generation equipment agreed to acquire a 49.5 percent stake in wind-turbine maker Clipper Windpower Plc (CWP:LN) for 166 million British pounds ($270 million) to enter the windpower market.