MGIC, Celldex, Forest Labs, PMI, Quiksilver: U.S. Equity Movers
Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parenthesis, and prices are as of 4 p.m. in New York.
Providers of temporary employees advanced after the U.S. Labor Department said companies added more jobs than forecast in August. Robert Half International Inc. (RHI) rose 4.5 percent to $24.03. TrueBlue Inc. (TBI) gained 18 percent to $13.70. SFN Group Inc. (SFN US) increased 9.6 percent to $6.60. Kelly Services Inc. (KELYA) climbed 9 percent to $12.46. Monster Worldwide Inc. (MWW) , operator of a job-search Web site, rose 7 percent to $12.33.
U.S. mortgage insurers advanced. MGIC Investment Corp. (MTG) , the biggest mortgage guarantor, rose 7.4 percent to $8.57. Radian Group Inc. (RDN) , the second-largest mortgage insurer, climbed 5.5 percent to $7.51. No. 3 PMI Group Inc. (PMI US) gained 9.7 percent to $3.62.
Andean Resources Ltd. (ANDPF US) surged 47 percent to $6.72, the most since at least 1996. Goldcorp Inc. (G), the second-biggest Canadian gold producer, agreed to buy the Perth-based miner for C$3.6 billion ($3.5 billion), exceeding a rival offer to gain control of an Argentinean mine. The cash bid values the company at C$6.50 a share, or 2.2 percent more than an offer from Eldorado Gold Corp. (ELD) , Canada’s fifth-largest producer by market value. Eldorado shares fell 1.9 percent to $19.10.
Campbell Soup Co. (CPB) dropped 3 percent, the most since Dec. 17, to $36.21. The world’s largest soup maker forecast 2011 profit excluding some items between $2.59 a share and $2.64 share. On average, the analysts surveyed by Bloomberg estimated earnings of $2.64.
Celldex Therapeutics Inc. (CLDX) tumbled 26 percent, the most since October 2008, to $3.53. Pfizer Inc. (PFE) is pulling out of an agreement with Celldex to fund the development of an experimental brain tumor vaccine. The vaccine is “no longer a strategic priority of Pfizer,” which will return the rights to the therapy, Celldex said.
Cooper Cos. (COO) rose 7.1 percent, the most since Dec. 9, to $44.18. The maker of contact lenses and medical devices reported fiscal third-quarter profit excluding some items that exceeded the average analyst estimate in a Bloomberg survey and increased its forecasts for fourth-quarter adjusted profit.
Esterline Technologies Corp. (ESL) jumped 9.9 percent, the most since September 2009, to $54.79. The Bellevue, Washington-based supplier to the aerospace and defense Industry raised its 2010 profit estimate to $3.85 to $3.95 a share, higher than the $3.60 average projection of analysts surveyed by Bloomberg.
Finisar Corp. (FNSR) gained 15 percent, the most since September 2009, to $15.60. The maker of fiber-optic transmission gear said second-quarter sales would be at least $215 million, higher than the $206.14 million estimate of analysts.
Other fiber-optics companies also gained. Oclaro Inc. (OCLR) jumped 17 percent to $13.11. JDS Uniphase Corp. (JDSU US) advanced 3.8 percent to $10.29.
Forest Laboratories Inc. (FCX) rose 1.3 percent to $29.56, the highest price since April 7. A Food and Drug Administration advisory panel reviewing the company’s antibiotic ceftaroline in pneumonia and skin infections next week is likely to produce a positive outcome, leading to a gain of as much as 5 percent in the shares, according to Jefferies & Co.
H&R Block Inc. (HRB) rose 5.8 percent, the most since June 2009, to $13.30. The biggest U.S. tax preparer reported a narrower quarterly loss from continuing operations as Chief Executive Officer Alan Bennett looks for a strategy to win back customers.
Krispy Kreme Doughnuts Inc. (KKD) rose 4.7 percent to $4.46, the highest price since April 15. The doughnut chain boosted its 2011 forecast for operating income excluding some charges to $13 million to $17 million.
Quiksilver Inc. (ZQK) declined 11 percent, the most since June 7, to $3.63. The maker of clothing for skateboarders and surfers said third-quarter sales fell short of analyst estimates.
SeaChange International Inc. (SEAC) fell 16 percent to $7.21, the biggest drop in a year. The maker of video-on-demand equipment and software reported second-quarter profit excluding some items that fell short of the average analyst estimate in a Bloomberg survey and lowered its full-year revenue forecast.
Sunoco Inc. (SUN US) rose 3.9 percent, the most since July 30, to $35.95. The Philadelphia-based refinery said former General Motors Co. Chief Executive Officer Frederick A. “Fritz” Henderson has joined the company as a senior vice president to help prepare for the previously announced separation of SunCoke Energy from Sunoco.
Take-Two Interactive Software Inc. (TTWO) jumped 7.3 percent, the most since July 7, to $9.50. The publisher of the “Grand Theft Auto” video games reported an unexpected third-quarter profit and boosted its earnings outlook on sales of the newest release, “Red Dead Redemption.”
Ulta Salon Cosmetics & Fragrance Inc. (ULTA) advanced 18 percent, the most since September 2009, to $26.30. The beauty products retailer forecast third-quarter adjusted earnings of 20 cents to 22 cents a share, higher than the average analyst estimate of 17 cents.
U.S. Airways Group Inc. (LCC US) gained 3.3 percent to $9.97, the highest price since Aug. 4. The company said its August passenger revenue per available seat mile increased an estimated 15 percent.
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