Economic Calendar

Friday, July 25, 2008

Amazon, Boeing, Qualcomm, Starwood Hotels: U.S. Equity Movers

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By Fabio Alves and Jeff Kearns

July 24 (Bloomberg) -- The following companies had unusual price changes in U.S. trading. Stock symbols are in parentheses, and share prices are as of 4 p.m. in New York.

Amazon.com Inc. (AMZN US) rose the most since July 2007, gaining 12 percent to $78.72. The world's largest Internet retailer reported second-quarter profit that rose more than analysts estimated as customers bought flat-panel TVs and jewelry and the dollar's decline boosted overseas sales.

Amdocs Ltd. (DOX US) gained the most since April 18, advancing 5.5 percent to $30.39. The world's largest maker of billing and customer-service software said third-quarter profit climbed 14 percent and forecast higher earnings this quarter.

AmerisourceBergen Corp. (ABC US) advanced the most since January 2007, gaining 7.8 percent to $43.15. The third-biggest U.S. drug distributor agreed to sell its workers' compensation business and said revenue increased.

AutoNation Inc. (AN US) rallied 11 percent, the most since Jan. 23, to $10.43. The largest publicly traded U.S. car dealer reported profit that topped analysts' estimates and said it would eliminate 1,300 jobs to shave expenses.

Baidu.com Inc. American depositary receipts (BIDU US) climbed the most since May 2006, advancing 16 percent to $335.08. China's most-used Internet search engine posted an 87 percent jump in second-quarter profit, beating analysts' estimates.

Boeing Co. (BA US) dropped 6.3 percent to $62.53, the lowest price since September 2005. The No. 2 commercial planemaker and defense contractor was downgraded to ``neutral'' from ``outperform'' by Cowen & Co. analyst Cai Von Rumohr.

Cadence Design Systems Inc. (CDNS US) fell 31 percent, the most since Jan. 31, to $7.11. The world's largest maker of programs for creating semiconductors forecast 2008 profit and sales that trailed analysts' estimates.

Chipotle Mexican Grill Inc. (CMG US) fell the most since McDonald's Corp. (MCD US) sold the company to the public in January 2006, losing 17 percent to $67.30. The fast-food chain reported 0.9 percent less second-quarter profit than analysts estimated, according to Bloomberg data, amid higher costs for beef and cheese.

Daimler AG American depositary receipts (DAI US) fell the most since September 2001, losing 12 percent to $58.54. The world's second-biggest luxury carmaker said lower U.S. sales dragged down profit and the company cut its earnings forecast.

Downey Financial Corp. (DSL US) plunged the most since at least July 1980, losing 34 percent to $1.80. The California savings and loan replaced Chief Executive Officer Daniel Rosenthal and it's exploring ``strategic alternatives.'' Friedman, Billings, Ramsey Group Inc. raised doubt about the company's survival.

Ford Motor Co. (F US) retreated the most since August 2000, slumping 15 percent to $5.11. The world's third-largest automaker posted a second-quarter loss of $8.7 billion and accelerated a conversion to fuel-efficient vehicles to wean itself from money- losing trucks.

Gardner Denver Inc. (GDI US) dropped the most since at least April 1994, losing 18 percent to $45.90. The maker of Oberdorfer pumps and Champion air compressors said demand for some products is slowing in the U.S. and U.K. Chief Executive Officer Barry Pennypacker said the outlook remains ``cautious'' for the second half.

GT Solar International Inc. (SOLR US) slumped 12 percent to $14.59 in its first day of trading. The equipment supplier to solar power-panel manufacturers raised about $500 million by selling 30.3 million shares at $16.50 each in an initial public offering yesterday.

MEMC Electronic Materials Inc. (WFR US) fell the most since September 2001, losing 22 percent to $42.23. The maker of silicon wafers estimated as little as $4 a share in profit this year. Analysts expect $4.28, the average forecast in a Bloomberg survey.

Omniture Inc. (OMTR US) fell the most since February 2007, losing 12 percent to $18.55. The maker of business software used by Wal-Mart Stores Inc. and Vodafone Group Plc predicted full- year sales that trailed analysts' estimates.

Qualcomm Inc. (QCOM US) surged the most since May 2002, jumping 17 percent to $52.43. The world's biggest maker of mobile-phone chips increased its 2008 sales and profit targets and settled a patent dispute with handset maker Nokia Oyj (NOK US). Nokia American depositary receipts added 4.5 percent to $27.89, the highest price since June 2.

RadioShack Corp. (RSH US) rose the most since Feb. 26, adding 14 percent to $15.95. The third-largest U.S. electronics retailer reported second-quarter profit that fell less than analysts estimated after sales of digital-television converters drove the chain's first revenue increase in two years.

Starwood Hotels & Resorts Worldwide Inc. (HOT US) tumbled the most since July 2002, losing 11 percent to $35.26. The third- largest U.S. lodging company said full-year profit may drop more than analysts estimated as U.S. corporations and consumers cut spending.

Marriott International Inc. (MAR US), the world's largest hotel chain, plunged the most since September 2001, falling 8.7 percent to $26.06.

Teradyne Inc. (TER US) slumped the most since January 2003, losing 13 percent to $9.17. The chip-testing equipment maker forecast third-quarter profit of 10 cents to 15 cents a share. Analysts estimated 18 cents on average in a Bloomberg survey.

Varian Medical Systems Inc. (VAR US) added the most since Oct. 25, gaining 9.9 percent to $58.53. The maker of radiation treatment systems reported 25 percent more fiscal third-quarter profit than analysts estimated, according to Bloomberg data.

Vital Signs Inc. (VITL US) gained the most ever, adding 26 percent to $73.11. General Electric Co. (GE US), the world's biggest maker of medical-imaging equipment, agreed to buy Vital Signs for about $860 million to add anesthesia masks, temperature probes and products that treat sleep apnea.

Washington Mutual Inc. (WM US) plunged for a second day, dropping 13 percent to $4.03. Gimme Credit LLC said unsecured creditors were ``pulling funds'' from the biggest U.S. savings and loan.

To contact the reporter on this story: Fabio Alves in New York at falves3@bloomberg.net; Jeff Kearns in New York at jkearns3@bloomberg.net.


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