Broadwind Energy, Campbell Soup, Frontline: 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.
Broadwind Energy Inc. (BWEN) surged 32 percent, the biggest increase in the Russell 2000 Index, to 71 cents. The U.S. maker of wind-turbine components said it will manufacture mining machinery components for Caterpillar Inc. (CAT US)
Brocade Communications Systems Inc. (BRCD) rose the most in the Russell 1000 Index, jumping 13 percent to $5.07. The maker of switches for data-storage networks reported fourth-quarter earnings of 16 cents a share, exceeding the 10-cent average analyst estimate.
Campbell Soup Co. (CPB US) fell the most since December 2008, losing 5.3 percent to $31.84. The world’s largest soup maker reported fiscal first-quarter sales of $2.16 billion, trailing the average analyst estimate by 2.4 percent, according to Bloomberg data.
Chico’s FAS Inc. (CHS) dropped 14 percent to $9.94 for the biggest retreat in the Russell 1000 Index. The women’s clothing retailer reported third-quarter earnings excluding some items of 18 cents a share, missing the average analyst estimate by 10 percent, according to Bloomberg data.
Collective Brands Inc. (PSS US) erased 15 percent, the most since May 25, to $11.71. The operator of Payless shoe stores reported third-quarter revenue of $894.4 million, falling short of the average analyst estimate of $909.8 million.
E-House China Holdings Ltd. (EJ) declined 4.5 percent to $6.13, the lowest price since Oct. 20. The Shanghai-based real estate services provider forecast fourth-quarter sales of $104 million at most. That trails the average analyst estimate of $137.3 million in a Bloomberg survey.
Focus Media Holding Ltd. (FMCN US) gained 15 percent, the most since Oct. 4, to $17.70. The Shanghai-based advertising network denied allegations from short seller Carson Block, saying a report that drove the shares down 39 percent yesterday reflects a misunderstanding of the company’s business.
Frontline Ltd. (FRO) slumped 41 percent, the most in the Russell 2000 Index, to $3.06. The world’s biggest operator of supertankers reported a third-quarter loss and said it may run out of cash next year unless the market recovers.
Fusion-io Inc. (FIO) fell 13 percent, the most since Aug. 4, to $31.65. The maker of flash-memory technology and its shareholders offered to sell 8.84 million shares at $33 each.
Gilead Sciences Inc. (GILD) rose the most in the S&P 500, climbing 6.9 percent to $38.76. The world’s largest maker of HIV medicines was boosted to “outperform” from “Market Perform” at BMO Capital Markets, which said the company’s acquisition of Pharmasset Inc. (VRUS US) “is a positive step toward longer-term sustainable growth.”
Medtronic Inc. (MDT) climbed 4.5 percent, the most since Aug. 23, to $34.75. The world’s biggest maker of heart-rhythm devices reported second-quarter earnings that beat analysts’ expectations on rising international sales of cardiovascular and spinal products.
Netflix Inc. (NFLX) slipped 5.4 percent to $70.45, the lowest price since March 2010. The video-streaming and DVD subscription service agreed to sell $400 million in stock and convertible notes to bolster cash as it increases spending for online rights to films and TV shows. Wedbush Securities Inc. cut its 12-month price estimate to $45 a share, saying the move was probably “prompted by deteriorating performance and liquidity.”
Perfect World Co. (PWRD) slid 15 percent to $9.73, the lowest price since March 2009. The Beijing-based online game developer reported third-quarter profit that missed analysts’ estimates. Oppenheimer & Co. cut the stock’s rating to “market perform” from “outperform.”
Valspar Corp. (VAL) had the second-biggest increase in the Russell 1000 Index, gaining 6.8 percent to $36. The producer of non-automotive industrial paint forecast 2012 earnings excluding some items of at least $2.87 a share, higher than the average analyst estimate of $2.81 in a Bloomberg survey.
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