Dril-Quip, R.H. Donnelley, Sonus: U.S. Small-Cap Equity Movers
The Russell 2000 Index (RTY) fell a five- week low, dropping 2.4 percent to 688.81 at 2:33 p.m. in New York. The small-cap benchmark was set to lose 1 percent this week, compared with a 1.5 percent weekly decline for the Standard & Poor's 500 Index, whose members have a median market value 22 times larger than the Russell 2000. The S&P 500 erased 2.5 percent today.
3Com Corp. (COMS US) rose the most since Sept. 28, gaining 17 percent to $3.41. Bain Capital LLC and Huawei Technologies Co. plan to reapply within several weeks for U.S. approval to acquire the networking systems and services provider for $2.2 billion, the Wall Street Journal reported, citing people familiar with the matter.
Assured Guaranty Ltd. (AGO) rose the most since Jan. 23, jumping 10 percent to $25.12. Billionaire Wilbur Ross agreed to invest as much as $1 billion in the AAA-rated bond insurer capital to help the company win market share from MBIA Inc. (MBI US) and Ambac Financial Group Inc. (ABK US).
Big 5 Sporting Goods Corp. (BGFV) posted the steepest decline since its initial public offering in 2002, tumbling 18 percent to $9.71. The athletic-gear retailer said it expects first-quarter sales at stores open at least a year to decline. Big 5 also forecast profit of 23 cents a share at most for the period, missing the average analyst prediction by 5 cents.
CommScope Inc. (CTV US) gained the most since Dec. 5, adding 9.2 percent to $42. The maker of communications equipment for AT&T Inc. (T US) said sales of cabinets and aluminum cables helped fourth-quarter earnings beat estimates.
Deckers Outdoor Corp. (DECK) fell the most since Jan. 25, losing 8.1 percent to $116.27. The maker of Ugg shoes forecast first-quarter per-share profit to be the same as or ``modestly higher'' than the 75 cents reported a year earlier. Analysts, on average, estimated 92 cents, according to a Bloomberg survey.
Dril-Quip Inc. (DRQ) fell the most since October 2000, losing 10 percent to $46.95. The maker of offshore drilling and production gear said its fourth-quarter order backlog dropped from the third quarter.
Fremont General Corp. (FMT US) lost the most since at least May 1983, falling 58 percent to 99 cents. The California lender forced to exit the subprime mortgage business said capital is eroding and it may have to find a buyer.
FTI Consulting Inc. (FCN) rose 12 percent to $62.58, the highest since its initial public offering in May 1996. The adviser to businesses on litigation, bankruptcies and restructuring said it expects to earn at least $2.40 a share this year. That beat the average estimate of $2.35 from analysts in a Bloomberg survey.
Momenta Pharmaceuticals Inc. (MNTA) climbed the most since July 2006, adding 27 percent to $10.07. Novartis AG (NOVN VX) executives suggested at a meeting in London that it and partner Momenta are optimistic U.S. regulators will clear their version of Sanofi-Aventis SA's (SAN FP) Lovenox anti-clot medicine, according to Mirabaud Securities analyst Nick Turner, who attended the Novartis meeting.
Omnivision Technologies Inc. (OVTI) had the steepest advance since December 2005, adding 17 percent to $16.30. The maker of image sensors for camera phones reported 17 percent more profit than analysts estimated, according to Bloomberg data.
R.H. Donnelley Corp. (RHD US) slumped 23 percent to $7.20, the lowest since January 1991. The publisher of Yellow Pages phone directories was downgraded to ``sell'' from ``hold'' at Deutsche Bank AG after the company reduced its earnings forecast and scrapped plans for a dividend.
Idearc Inc. (IAR US), another telephone book publisher, declined 16 percent to $4.85.
Sapient Corp. (SAPE) rose the most since July 2004, climbing 22 percent to $7.63. The technology consulting company said it expects sales of at least $155 million in the first quarter. That exceeded the average analyst estimate of $148 million in a Bloomberg survey.
Sonus Networks Inc. (SONS) slid 14 percent to $3.33, the lowest since August 2004. The maker of software for Internet- based phone calling said fourth-quarter earnings were below its estimates and delayed filing 2007 results because its audit isn't complete. Friedman Billings Ramsey & Co. cut its share-price forecast by 38 percent to $5.
Town Sports International Holdings Inc. (CLUB) advanced the most since Aug. 3, adding 13 percent to $8.37. The owner of New York Sports Clubs reported 15 percent more fourth-quarter profit than analysts estimates, according to Bloomberg data.
World Fuel Services Corp. (INT) rose the most since January 2000, climbing 18 percent to $31.46. The seller of fuel to airlines and ships reported 23 percent more fourth-quarter profit than analysts estimated, according to Bloomberg data.
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