Alpha Natural, Best Buy, Telephone & Data: 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.
Energy companies climbed as the price of crude oil rose for a third day. Alpha Natural Resources Inc. (ANR) advanced 2.7 percent to $20.84. Denbury Resources Inc. (DNR) increased 4.2 percent to $15.98. Quicksilver Resources Inc. (KWK) jumped 8.2 percent to $7.79.
AMR Corp. (AMR US) plunged 84 percent to 26 cents for the biggest retreat in the Russell 1000 Index. American Airlines’ parent filed for bankruptcy after failing to secure cost-cutting labor agreements and sitting out a round of mergers that dropped it from the world’s largest airline to No. 3 in the U.S.
Rivals gained. United Continental Holdings Inc. (UAL) added 6.3 percent to $17.63. Delta Air Lines Inc. (DAL) rose 5 percent to $7.80. JetBlue Airways Corp. (JBLU) climbed 10 percent to $4.06. US Airways Group Inc. (LCC US) rallied 4.5 percent to $4.46.
A123 Systems Inc. (AONEQ) jumped 3.8 percent, the most since Oct. 27, to $2.18. IHI Corp. (7013 JP), the Japanese manufacturer of heavy machinery agreed to make an equity investment of $25 million in the maker of batteries for electric vehicles.
Best Buy Co. (BBY) climbed 5.2 percent, the most since Sept. 15, to $27.86. The world’s largest consumer-electronics retailer was labeled a “long research tactical idea” by Morgan Stanley.
Central European Distribution Corp. (CEDC US) surged 29 percent, the most in the Russell 2000 Index, to $4.39. Russian Standard Corp. reported a 9.9 percent stake in the vodka producer.
Corning Inc. (GLW) slipped 11 percent to $13.19 for the biggest retreat in the Standard & Poor’s 500 Index. The maker of glass for flat-panel televisions cut its fourth-quarter sales forecast for its Gorilla Glass and said it expects earnings to drop more than estimated.
Dillard’s Inc. (DDS) dropped 6.8 percent to $46.29, the lowest price since Oct. 10. The Arkansas-based department-store chain was cut to “neutral” from “buy” at Sterne Agee & Leach Inc., which cited margin erosion concerns and cut its 12-month price estimate to $47 a share from $58.
Home Depot Inc. (HD) rose 5.3 percent, the biggest gain in the Dow Jones Industrial Average, the $38.96. The world’s largest home-improvement retailer was recommended by CNBC’s Jim Cramer, citing its dividend and better-than-estimated third-quarter earnings.
Inhibitex Inc. (INHX US) jumped 20 percent to $13.70, the highest price since it went public in June 2004. The biopharmaceutical company said a clinical trial of its INX-189 hepatitis C treatment in combination with ribavirin showed an “increase in antiviral activity.”
Research In Motion Ltd. (BB) jumped 5.4 percent, the most since Oct. 5, to $17.37. The BlackBerry maker was raised to “market perform” from “underperform” at Stanford C. Bernstein & Co., which said shareholder activism may lead to management change or a takeover.
Susser Holdings Corp. (SUSS US) fell 10 percent, the most since May 2009, to $22.78. The operator of convenience stores in Texas, New Mexico and Oklahoma said it will offer 3.5 million shares, raising money to build new facilities and for general corporate purposes including debt reduction.
Telephone & Data Systems Inc. (TDS) climbed 6.5 percent, the most since May 2009, to $25.79. The Chicago-based telecommunications company said it adjusted the reclassification ratio to 1.087 for holders of common and Series A common shares.
Thor Industries Inc. (THO) declined 4.9 percent to $23.14, the lowest price since Oct. 3. The recreational-vehicle maker reported first-quarter earnings of 41 cents a share, missing the average analyst estimate by 1 cent.
Tiffany & Co. (TIF) slid 8.7 percent, the most since Aug. 8, to $67.22. The world’s second-largest luxury jewelry retailer forecast fourth-quarter earnings of at most $1.58 a share, missing the average analyst estimate of $1.63 a share. The company cited “continued short-term economic challenges” and “recent sales weaknesses” in Europe.
Transocean Ltd. (RIG) fell 9.4 percent to $41.63, the lowest price since August 2004. The world’s largest offshore driller said it would sell shares to help refinance its acquisition of Aker Drilling ASA.
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