By Cordell Eddings and Cristina Alesci
Jan. 8 (Bloomberg) -- The following companies may have unusual price changes in U.S. trading today. Stock symbols are in parentheses, and share prices are as of 8 a.m. in New York, unless otherwise specified.
Axa SA ADRs (AXA US), each worth one share, fell 3.9 percent to $21.31. Europe’s second-biggest insurer was cut to “neutral” from “buy” by analysts at Merrill Lynch & Co.
Immucor Inc. (BLUD US) gained $1.49, or 6.3 percent, to $24.99 in trading after the official close of exchanges. The maker of testing systems used by blood banks earned 24 cents a share in the fiscal second quarter, excluding some items. That exceeded the average analyst estimate by 12 percent, according to Bloomberg data.
Intuitive Surgical Inc. (ISRG US) dropped 15 percent, to $99.40. The maker of robotic systems for surgeries said revenue in the fourth quarter was about $232 million. That missed the average analyst estimate of $255.1 million, according to a Bloomberg survey.
Marriott International Inc. (MAR US) gained 4.8 percent to $20.90. The world’s largest hotel chain was upgraded to “buy” from “neutral” by analysts at Goldman Sachs citing “signs of a slowdown in new supply growth.” Goldman also lifted its stance on U.S. hotels to “neutral” from “cautious.”
ON Semiconductor Corp. (ONNN US): The maker of chips that manage power use in electronics said fourth-quarter sales missed an October projection and the company will cut about 1,500 jobs. The stock fell 4.7 percent to $4.04 in regular trading.
Parametric Technology Corp. (PMTC US) fell 13 percent, to $11.20. The maker of industrial software reduced its earnings forecast for the first quarter to no more than 16 cents per share. Analysts surveyed by Bloomberg expected 26 cents per share.
PNC Financial Services Group Inc. (PNC US): The lender that bought National City Corp. had its credit rating cut by Standard & Poor’s on the prospect of losses tied to the deal. The stock lost 0.7 percent to $48.31 in regular trading.
Rio Tinto Group PLC (RTP US) slipped 6.8 percent to $101. The world’s third-largest mining company will reduce output from its Kestrel coal mine in Australia by 15 percent because of reduced demand.
Robbins & Myers Inc. (RBN US) gained $2.11, or 11 percent, to $20.75. The U.S. maker of Moyno pumps and Chemineer industrial mixers earned 50 cents a share in the first quarter. That topped the 42-cent average estimate from analysts in a Bloomberg survey.
Sears Holdings Corp. (SHLD US) rose 11 percent, to $44.95. The largest U.S. department-store company said it expects fourth- quarter earnings per share, excluding items, of $2.44-$3.09, well above analysts’ consensus estimate of $1.92.
Sonic Corp. (SONC US): The largest U.S. chain of drive-in restaurants reported first-quarter earnings and sales that trailed analysts’ estimates. The stock dropped 4.7 percent to $11.40 in regular trading.
Urban Outfitters Inc. (URBN US) rose 10 percent to $15.50. The clothing and house wares retailer announced increased same- store sales for the two months ended Dec. 31 in its Urban Outfitter stores. The company was raised to “outperform” from “neutral” by Cowen and Company LLC analyst Laura Champine.
Wal-Mart Stores Inc. (WMT US) slid 6.4 percent in pre-market trading to $51.80. The world’s largest retailer lowered its fourth-quarter earnings forecast to no more than 94 cents a share, below analysts’ expectations of $1.07 per share.
To contact the reporters on this story: Cordell Eddings in New York at ceddings@bloomberg.net; Cristina Alesci in New York at calesci2@bloomberg.net
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