Cisco, Freddie Mac, Monaco Coach, QLogic: U.S. Equity Movers

By Elizabeth Stanton

July 9 (Bloomberg) -- The following companies had unusual price changes in U.S. markets. Stock symbols are in parentheses after company names, and prices are as of 4 p.m. in New York.

Steel producers in the Standard & Poor's 500 Index advanced after UBS AG predicted ``robust'' earnings from the group and said the stocks had fallen too far.

U.S. Steel Corp. (X US) rose 5.1 percent to $158.17. AK Steel Holding Corp. (AKS US) climbed 5.2 percent to $54. Nucor Corp. (NUE US) rose 3.9 percent to $65.59.

Arris Group Inc. (ARRS US) plunged 17 percent, the most since Feb. 15, to $7.35. The maker of Internet equipment said second-quarter earnings and revenue were less than previously projected.

Circor International Inc. (CIR US) rose the most since the company's shares were listed in 1999, climbing 23 percent to $61.90. The maker of fluid-control valves said second-quarter profit may be as high as $1.10 a share, more than from its previous estimate of 74 cents to 83 cents.

Cisco Systems Inc. (CSCO US) fell 5.7 percent to $21.58, the lowest since September 2006. The world's biggest maker of computer-networking equipment faces a slowdown in the U.S. and Europe and may say fourth-quarter revenue was ``flat to down'' from the third quarter, according to UBS.

Cleveland-Cliffs Inc. (CLF US) gained 15 percent, the most since December 2003, to $105.78. North America's largest producer of iron ore pellets raised its forecast for iron ore revenue per ton for this year.

Dillard's Inc. (DDS US) fell the most in two months, sliding 10 percent to $9.81. The 70-year-old retailer is valued at a third of its book value, or assets minus liabilities, a sign that investors think the company will write down the value of its property, according to a Bloomberg analysis.

Federal Signal Corp. (FSS US) dropped 10 percent, the most since June 26, to $11.82. The maker of firetrucks was downgraded to ``underperform'' from ``market perform'' by Bank of Montreal analysts.

Freddie Mac (FRE US) fell 24 percent to $10.26, the lowest since October 1992. Fannie Mae (FNM US), the larger of the two U.S. mortgage-finance companies, paid a record yield over benchmark rates on $3 billion of two-year notes sold to investors today. Fannie Mae fell 13 percent to $15.31.

Intel Corp. (INTC US) declined the most since Jan. 16, dropping 5.3 percent to $19.81. The world's biggest maker of computer chips may fail to beat earnings estimates in the second half as some customers curb spending and Advanced Micro Devices Inc. (AMD US) introduces new products, Merrill Lynch & Co. said.

Mattson Technology Inc. (MTSN US) fell the most since April 24, losing 8.1 percent to $4.52. The maker of manufacturing equipment for semiconductors reported a bigger second-quarter loss than predicted as weak demand in the chip market caused customers to reduce orders.

MGIC Investment Corp. (MTG US) lost 11 percent to $6.65. The largest U.S. mortgage insurer will pay out more than $2 dollars in claims and expenses for every premium dollar earned this year and may lose money through 2009, Standard & Poor's said.

Monaco Coach Corp. (MNC US) dropped 21 percent to $2.45, the lowest since October 1996. Robert W. Baird & Co. cut its price target on the U.S. motor-home maker by 22 percent.

New York Times Co. (NYT US) slid the most since October 1998, falling 7 percent to $14.01. Lehman Brothers Holdings Inc. analyst Craig Huber lowered its earnings estimates for the newspaper publisher and said the company's dividend is at risk of being cut in coming years.

QLogic Corp. (QLGC US) climbed the most since Oct. 24, adding 8.5 percent to $15.15. The supplier of chips and switches for computer networks said first-quarter sales and profit surpassed its forecasts.

Sealy Corp. (ZZ US) slumped 8.6 percent, the biggest drop in four months, to $6.07. The world's largest bedding manufacturer reported second-quarter sales that trailed analysts' estimates and predicted a ``challenging'' second half.

SGX Pharmaceuticals Inc. (SGXP US) more than doubled to $3.09, its biggest-ever gain. Eli Lilly & Co., the world's biggest maker of psychiatric medicines, said it would buy the developer of experimental cancer treatments for $3 a share, or $64 million, in cash.

Tesoro Corp. (TSO US) fell the most since August 2004, losing 12 percent to $17.35. U.S. Department of Energy data released today showed gasoline inventories increased last week as consumption declined from year-earlier levels. About a third of the increase was on the West Coast, where Tesoro operates, Friedman Billings Ramsey & Co. analyst Eitan Bernstein said in an interview.

To contact the reporter on this story: Elizabeth Stanton in New York at estanton@bloomberg.net