By Rita Nazareth
March 3 (Bloomberg) -- Shares of the following companies are having unusual fluctuations in U.S. trading. Stock symbols are in parentheses and prices are as of 9:45 a.m. in New York.
Advanced Micro Devices Inc. (AMD US) rose 7 percent to $2.15. The investment arm of the Abu Dhabi government, Mubadala Development Corp., bought a $125 million stake in the second- largest maker of computer processors.
Apple Inc. (AAPL US) gained 1.2 percent to $88.98. The maker of Macintosh computers and the iPhone updated its desktop lines for consumers, offering larger machines for less money. The new 24-inch iMac will now sell for $1,499, the same price as the previous-generation 20-inch iMac, Apple said in a statement.
AutoZone Inc. (AZO US) advanced 11 percent to $154.97. The largest U.S. auto-parts retailer reported second-quarter earnings of $2.03 a share, beating the average estimate of $1.83 in a Bloomberg survey of analysts.
Bruker Corp. (BRKR US) surged 20 percent to $4.33. The maker of scientific instruments reported fourth-quarter earnings excluding some items of 18 cents a share, beating the average 12-cent analyst estimate.
Chico’s FAS Inc. (CHS US) gained 5.4 percent to $4.32. The women’s clothing retailer reported a fourth-quarter adjusted loss of 14 cents a share, narrower than the average 17-cent analyst estimate.
D.R. Horton Inc. (DHI US) fell 1.1 percent to $7.96. The third-largest U.S. homebuilder by revenue was cut to “underperform” from “neutral” at Credit Suisse Group AG, which cited concerns about sales, cash flow and premium valuation.
First Solar Inc. (FSLR US) rose 5 percent to $109.13. The largest maker of thin-film solar power modules agreed to take over a portfolio of utility-sized projects from closely held OptiSolar for $400 million in stock to expand sales in the U.S.
Genzyme Corp. (GENZ US) fell 4.4 percent to $54.03. The maker of treatments for rare genetic disorders said it failed to win approval for Lumizyme, a version of its drug for Pompe disease, made in larger batches. Genzyme was also cut to “hold” from “buy” at Citigroup Inc.
ITT Educational Services Inc. (ESI US) advanced 1.9 percent to $109.59. The provider of technology-oriented degree programs was raised to “overweight” from “equal weight” at Morgan Stanley, which cited attractive valuations.
Noble Corp. (NE US) rose 4.3 percent to $23.16. The third- largest U.S. offshore oil driller was raised to “buy” from “neutral” at Goldman Sachs Group Inc. and added to the firm’s “Conviction Buy” list. Goldman Sachs said Noble is the least expensive company in the industry.
PDL BioPharma Inc. (PDLI US) gained 14 percent to $6.37. The developer of antibodies used in cancer treatments reported profit from continuing operations of 34 cents a share in the fourth quarter, more than quadrupling the average adjusted analyst estimate in a Bloomberg survey.
Tech Data Corp. (TECD US) advanced 3.4 percent to $16.81. The world’s second-biggest distributor of computer products reported fourth-quarter earnings excluding some items of $1.17 per share, beating the average 72-cent analyst estimate.
TiVo Inc. (TIVO US) climbed 7.8 percent to $7.12. The pioneer of digital video recorders reported a narrower fourth- quarter loss after cutting jobs and marketing costs. The loss was 4 cents a share, beating the average adjusted analyst estimate by 59 percent, according to Bloomberg data.
UBS AG (UBS US) rose 1.9 percent to $8.50. Switzerland’s largest bank was raised to “buy” from “hold” at Citigroup Inc., which cited the appointment of Oswald Gruebel as chief executive officer.
Xilinx Inc. (XLNX US) rose 1.7 percent to $16.99. The world’s largest maker of programmable semiconductors said fourth-quarter sales will be $375.9 million at least, beating the average $365.7 million analyst estimate.
To contact the reporter on this story: Rita Nazareth in New York at nazareth@bloomberg.net.
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