Accenture, Ista, Quiksilver, RIM, Zynga: U.S. Equity Movers
Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses, the prices are as of 4 p.m. in New York.
Accenture Plc (ACN) fell 3.5 percent, the most since Nov. 9, to $54.15. The world’s second-largest technology-consulting company lowered its full-year earnings forecast on currency fluctuations, after beating analysts’ estimates for the first quarter.
Adobe Systems Inc. (ADBE) gained 6.6 percent to $28.20, the biggest gain in the S&P 500. The company forecast fiscal first-quarter sales that may top analysts’ estimates amid demand for a new generation of tools that help customers design Web pages and create online video.
Amgen Inc. (AMGN) climbed 2.4 percent to $60.05, the highest price since May 31. The world’s largest biotechnology company’s Chief Executive Officer Kevin Sharer, who has run the company for the past decade, will hand the reins to Robert Bradway, president and chief operating officer, in May.
Cablevision Systems Corp. (CVC) retreated 8.5 percent to $12.75, the biggest loss in the S&P 500. The cable company’s Chief Operating Officer Tom Rutledge will step down this month for undisclosed reasons, in what Craig Moffett, an analyst at Sanford C. Bernstein & Co., calls a “staggering loss” for the company.
Cameron International Corp. (CAM) gained 6 percent to $47.55 the second-biggest gain in the S&P 500. The maker of the blowout preventer on BP Plc’s (BP US) Macondo well that caused the worst U.S. oil spill will pay $250 million to settle all claims in the accident.
Charming Shoppes Inc. (CHRS US) rose 3.2 percent to $4.79, the highest price since April 27. The women’s apparel retailer was approached by Ascena Retail Group Inc. (ASNA US), which “expressed interest” in acquiring Fashion Bug, a chain of lower-priced stores, and may want to buy the Lane Bryant chain, the New York Post reported, citing people it didn’t name. Officials of both companies declined to comment, the newspaper said.
Ista Pharmaceuticals Inc. (ISTA US) gained 72 percent to $6.68 for the biggest jump since its initial public offering in 2000. The maker of eye medications received a $6.50-a-share hostile takeover offer from Valeant Pharmaceuticals International Inc. (VRX US) after rebuffing three earlier approaches.
Kosmos Energy Ltd. (KOS) rose 6 percent, the most since Oct. 18, to $12.28. The U.S. oil explorer that discovered Ghana’s massive offshore Jubilee field was raised to “overweight” from “equalweight” by Thomas Driscoll, an equity analyst at Barclays Capital Plc. The target price is $17.00 per share.
Pharmasset Inc. (VRUS US) dropped 3.2 percent, the most since Nov. 9, to $123.75. The pharmaceutical company that has agreed to be bought by Gilead Sciences Inc. (GILD) said it will amend the design of a trial involving its experimental hepatitis C drug after abnormalities associated with liver function were found. Gilead slipped 3.5 percent to $37.16.
Quiksilver Inc. (ZQK) gained 13 percent, the most since Oct. 4, to $3.46. The outdoor apparel company reported fourth-quarter revenue of $545 million, beating the average analyst estimate of $524.3 million in a Bloomberg survey.
Research In Motion Ltd. (BB) fell 11 percent to $13.44, the lowest price since January 2004. The maker of the BlackBerry delayed until the “latter part” of 2012 the release of a new generation of the smartphones and projected lower sales and profit than analysts had estimated, dragged down by customers switching to Apple Inc.’s iPhone and Android devices.
RSC Holdings Inc. (RRR US) gained 58 percent, the most since its initial public offering in 2007, to $17.95. The second-largest construction-equipment rental company in North America will be bought by United Rentals Inc. (URI) , an equipment-leasing company, for $1.9 billion to accelerate business growth with industrial customers. United Rentals rose 7.1 percent to $27.89.
Zynga Inc. (ZNGA) fell 5 percent to $9.50 on its first day of trading. The largest maker of games for Facebook Inc.’s website sold 100 million shares for $10 each, the top of a proposed range. “Zynga was offered at a pretty aggressive price relative to other game makers,” said Jack Ablin, chief investment officer for Chicago-based Harris Private Bank.
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