Airgas, Apple, Comtech, Lear, Priceline.com: 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.
Airgas Inc. (ARG) slipped 1.8 percent, the most since May 20, to $64.59. The packaged-gas company rejected a sweetened $5.5 billion bid from Air Products & Chemicals Inc. and committed to solicit other offers by June provided shareholders vote against holding a second annual meeting within four months.
AngioDynamics Inc. (ANGO) dropped 8.2 percent, the most since July 2009, to $13.98. The maker of devices to treat cancer and heart disease said in a preliminary statement that it earned 8 cents a share at most in the fiscal first quarter. Analysts, on average, estimated profit of 11 cents, according to a Bloomberg survey.
Apple Inc. (AAPL) rose 2 percent to $262.92, the highest price since Aug. 4. The maker of iPods and Macintosh computers had its profit and share-price estimates raised at UBS AG.
China Agritech Inc. (CAGC US) slid 16 percent, the most since May 2008, to $13.29. The fertilizer producer was reduced to “sell” from “neutral” by Chardan Capital Markets.
Comtech Telecommunications Corp. (CMTL) rallied 8.4 percent, the most since July 13, to $22.64. The provider of mobile-data communications equipment was raised to “buy” from “hold” at Needham & Co.
Cree Inc. (CREE) slipped 8.1 percent to $50.18, the lowest price since Nov. 30. The maker of energy-efficient lightin products may miss analysts’ sales forecasts for the December and March quarters, Raymond James Financial Inc. wrote in a note to clients.
Green Mountain Coffee Roasters Inc. (GMCR) gained 7.6 percent to $33.58 for the second-biggest advance in the Russell 1000 Index. The seller of Keurig single-cup coffee brewers said it plans to increase prices by as much as 15 percent, starting Oct. 11.
Hewlett-Packard Co. (HPQ) fell 2.8 percent, the most in the Dow Jones Industrial Average, to $38.81. The world’s largest personal-computer was cut to “neutral” from “buy” at UBS AG. The brokerage also downgraded Intel Corp. (INTC) , and shares of the world’s largest chipmaker slipped 1.2 percent to $17.90, the second- biggest decline in the Dow Jones average.
UBS also reduced Teradyne Inc. (TER) , a maker of testing equipment for electronics, to “neutral” from “buy.” The shares declined 3.5 percent to $9.30.
Huntington Bancshares Inc. (HBAN) climbed 5.3 percent to $5.77 for its biggest advance since July 7. Ohio’s third-largest lender was upgraded to “strong buy” from “outperform” at Raymond James Financial Inc. (RJF)
Hyperdynamics Corp. (HDY) rallied 10 percent to $1.59, the highest price since April 16. The exploration partner with Dana Petroleum Plc in Guinea said its concessions in the West African nation may hold about 2.3 billion barrels of prospective oil resources.
JA Solar Holdings Co. (JASO) rose 12 percent to $7.24, the highest price since October 2008. The Chinese manufacturer of solar cells announced supply agreements to provide more than 500 megawatts of solar cells to customers.
Lear Corp. (LEA) slid 2.9 percent to $74.29, the largest drop since Aug. 24. The maker of seats and other automobile parts was cut to “neutral” from “overweight” at JPMorgan Chase & Co.
MGM Resorts International (MGM) jumped 6.8 percent, the most since July 7, to $10.22. The biggest casino operator on the Las Vegas Strip was raised to “buy” from “hold” at Soleil Securities Corp. with a 12-month price estimate of $14 a share.
Microtune Inc. (TUNE US) rallied 19 percent, the most since November 2008, to $2.95. The maker of radio tuners and amplifiers agreed to be bought by Zoran Corp. (ZRAN US) for $2.92 in cash, or $166 million.
Navistar International Inc. (NAV) fell 7 percent, the most since September 2009, to $41.27. The maker of commercial and military vehicles reported third-quarter revenue that fell short of the average analyst estimate in a Bloomberg survey and lowered its full-year revenue forecast.
New York Times Co. (NYT) jumped 8 percent, the most in the Standard & Poor’s 500 Index, to $8.38. The newspaper publisher rose on speculation billionaire Carlos Slim wants to buy the company, said Edward Atorino, an analyst at Benchmark Co. LLC in New York. Diane McNulty, a spokeswoman for the company, declined to comment, while a spokesman for Slim said in an e-mail, “we know nothing about this.”
Phillips-Van Heusen Corp. (PVH) had the third-biggest gain in the Russell 1000 Index, climbing 7.1 percent to $54.07. The clothing maker increased its full-year forecast, saying it expects to earn as much as $3.80 a share excluding some items. The company had previously projected $3.65 at most.
Priceline.com Inc. (PCLN) jumped 5.5 percent to $328.77 for the second-biggest gain in the S&P 500. The online travel agency is poised to benefit from its “solid position” in Europe, where the hotel industry is fragmented, Deutsche Bank AG said in a note, initiating coverage of the stock with a “buy” rating.
Qiao Xing Mobile Communication Co. (QXM US) surged 38 percent to $3.55, the biggest gain since it went public in 2007. Qiao Xing Universal Resources Inc. (XING US) proposed to buy out the Chinese mobile-phone maker. Qiao Xing Mobile shareholders would receive 1.9 Qiao Xing Universal shares and $0.80 for each share they own.
R. G. Barry Corp. (DFZ) fell the most in Russell 2000 Index, dropping 11 percent to $10.09. The maker of slippers and sandals reported a fourth-quarter loss of 15 cents a share. That’s wider than the 4-cent loss estimated by Sidoti & Co.
Silicon Laboratories Inc. (SLAB) declined 7.4 percent, the most since January 2009, to $35.62. The designer of integrated circuits for mobile phones cut its third-quarter revenue forecast to $118 million to $122 million and said earnings for the quarter would fall short of the average analyst estimate.
Skilled Healthcare Group Inc. (SKH) jumped 25 percent to $4.38, the highest price since July 6. The operator of nursing and assisted-living homes settled a lawsuit over staffing in its California nursing homes.
UDR Inc. (UDR) slipped 3.6 percent, the most since July 16, to $20.74. The apartment real estate investment trust said it will buy five operating communities and one pre-sale venture for $455.1 million.
Visa Inc. (V) decreased 4.1 percent to $68.55 for the biggest retreat in the S&P 500. The world’s biggest payments network was cut to “underperform” from “neutral” by Bank of America Corp.
ZymoGenetics Inc. (ZGEN US) surged 84 percent to $9.76 for the biggest advance in Russell 2000 Index. The Seattle-based developer of treatments for cancer and autoimmune diseases agreed to be bought by Bristol-Myers Squibb Co. (BMY) for $9.75 a share, or $885 million.
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