By Lu Wang
March 6 (Bloomberg) -- Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 10 a.m. in New York.
AnnTaylor Stores Corp. (ANN US) fell the most in the Russell 1000 Index, sliding 19 percent to $4.51. The U.S. retailer of women’s business attire reported a wider fourth-quarter loss and said it drew down $125 million under its $250 million revolving credit facility yesterday.
ArcSight Inc. (ARST US) climbed 27 percent to $11.20 and earlier jumped to $11.49, the highest intraday price since Aug. 12. The developer of computer security software said profit excluding some items will be at least 41 cents a share during the fiscal year ending in April, or 41 percent more than the average analyst estimate.
FairPoint Communications Inc. (FRP US) fell 25 percent to $1.20, and slid 39 percent earlier, the most intraday since February 2005. The owner of telephone lines in New England suspended its dividend after reporting a fourth-quarter loss of 85 cents a share.
Ciena Corp. (CIEN US) rose 6.9 percent to $6.34 and earlier advanced to $6.38, the highest intraday price since Feb. 13. The maker of network equipment reduced operating expense was boosted to “neutral” from “underperform” by Credit Suisse Group AG.
Fuel Systems Solutions Inc. (FSYS US) plunged 26 percent to $14.20, and dropped 30 percent earlier, the most intraday since Sept. 29. The company whose devices allow internal-combustion engines to run on alternative fuels reported profit excluding some items of 31 cents a share, missing the average analyst estimate by 28 percent.
General Motors Corp. (GM US) declined 7 percent to $1.73 for the biggest loss in the Dow Jones Industrial Average. The automaker said it may lose more than $1 billion separating from its Swedish Saab Automobile unit, which filed for protection from creditors last month.
Harley-Davidson Inc. (HOG US) rose 5.5 percent to $8.65 and earlier climbed 12 percent, the most intraday since Feb. 3. The biggest U.S. motorcycle maker said it expects to meet 2009 earnings forecast after retail sales of motorcycles fell 13 percent in the first two months of the year.
H&R Block Inc. (HRB US) rose 7.6 percent to $18.63 and earlier jumped 12 percent, the most intraday since Oct. 28. The biggest U.S. tax preparer reported third-quarter earnings per share from continuing operations of 20 cents, double the average analyst estimate.
Insulet Corp. (PODD US) fell the most in Russell 2000 Index, slumping 31 percent to $3.51. The maker of a device to give insulin to diabetic patients forecast sales of $65 million at most this year, missing the average analyst estimate of $74.4 million.
Macy’s Inc. (M US) surged 9.4 percent to $7.20 and earlier gained 13 percent, the most intraday since Feb. 24. The second- biggest U.S. department-store chain was raised to “buy” from “neutral” at Goldman Sachs Group Inc. and added to the brokerage’s “conviction buy” list on reduced concern about its balance sheet.
Marvell Technology Group Ltd. (MRVL US) rose 8.2 percent to $8.14 and advanced earlier to $8.30, the highest intraday price since Feb. 9. The maker of chips for mobile phones reported earnings excluding some items of 5 cents a share, more than double the average analyst estimate.
Northeast Utilities (NU US) rose 3.6 percent to $20.39 and gained 4.4 percent earlier, the most intraday since Jan. 26. The utility owner in New England was picked to replace Tyco International Ltd. (TYC US) in the Standard & Poor’s 500 Index.
Quest Diagnostics Inc. (DGX US) fell 3 percent to $43.68 and earlier slipped to $42.36, the lowest intraday price since Nov. 21. The world’s largest provider of medical diagnostic tests was added to Goldman Sachs Group Inc.’s “Americas Conviction Sell List.” The brokerage said the shares are expensive and there are risks to 2009 revenue growth.
Wells Fargo & Co. (WFC US) rose 11 percent to $9.01 and earlier added 17 percent, the most intraday since Feb. 24. The fourth-largest U.S. bank cut its quarterly dividend by 85 percent to 5 cents a share in a move to save an additional $5 billion a year and said January and February results were “strong.”
To contact the reporter on this story: Lu Wang in New York at lwang8@bloomberg.net
Posts
No comments:
Post a Comment