CenturyTel, D.R. Horton, Imergent, Lennar: U.S. Equity Movers
February 08, 2010, 4:26 PM ESTBy Nikolaj Gammeltoft
Feb. 8 (Bloomberg) -- Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses. Prices are as of 4 p.m. in New York.
Homebuilders in the S&P 500 surged 2.8 percent after the Wall Street Journal said the industry is looking “a lot less bad,” citing declines in write-downs and new-home order cancellations and improved order rates.
Lennar Corp. (LEN US) surged 4.6 percent to $15.39. Pulte Homes Inc. (PHM US) jumped 2.3 percent to $11.13. D.R. Horton Inc. (DHI US) advanced 2 percent to $12.92.
Solar stocks fell after Deutsche Bank AG said the average selling price for solar panels may decline more than 20 percent this year because of a glut. First Solar Inc. (FSLR US), which had it share-price estimate cut to $125 from $135, slipped 2.6 percent to $111.21. Canadian Solar Inc. (CSIQ US) dropped 6.2 percent to $20.66. Evergreen Solar Inc. (ESLR US) sank 4.3 percent to $1.35.
BioMarin Pharmaceutical Inc. (BMRN US) slid 1.6 percent to $19.17, the lowest price since Jan. 5. The maker of treatments for rare genetic disorders was downgraded to “hold” from “buy” at Brean Murray & Co.
Cell Therapeutics Inc. (CTIC US) fell the most in the Russell 2000 Index, tumbling 40 percent to 64 cents. The company may not have enough data to prove its experimental drug Pixuvri works against aggressive non-Hodgkin’s lymphoma, U.S. regulators said, reinforcing investors’ expectations the product may not be approved for sale.
CenturyTel Inc. (CTL US) rose 1.6 percent to $34.35 for the biggest gain since Jan. 25. The Monroe, Louisiana-based operator of the CenturyLink telephone service was raised to “buy” from “hold” at Stifel Nicolaus Ltd, which cited a price decline of the shares and the possibility of a stock repurchase program later this year.
China Fire & Security Group Inc. (CFSG US) advanced 20 percent, the most since October 2008, to $14.47. The maker of safety products said it won a contract worth about $92 million from Wuhan Iron and Steel (Group) Corp.
CVS Caremark Corp. (CVS US) rose 5.3 percent to $32.72 for the second-biggest gain in the Standard & Poor’s 500 Index. The largest U.S. distributor of prescription drugs posted fourth- quarter profit excluding one-time items of 79 cents a share. Analysts expected earnings of 78 cents a share in a Bloomberg survey.
Hasbro Inc. (HAS US) rose the most in the Standard & Poor’s 500 Index, jumping 13 percent to $34.71. The maker of “Transformers” robot toys reported fourth-quarter earnings excluding some items of $1.09 a share, topping the average analysts’ estimate by 34 percent, according to Bloomberg data.
Home Depot (HD US) gained 2.2 percent to $28.59 for the biggest advance in the Dow Jones Industrial Average. The largest U.S. home-improvement retailer was raised to “overweight” from “equal-weight” at Morgan Stanley.
Imergent Inc. (IIG US) soared 15 percent to $6.50 for the second-biggest gain in the Russell 2000. The Internet business- consulting firm reported fourth-quarter net income of 6 cents a common share compared with a loss of 89 cents a year earlier.
Littelfuse Inc. (LFUS US) rose 9.5 percent, the most since Oct. 29, to $31.96. The maker of Wickmann and Teccor circuit protectors reported fourth-quarter profit excluding some items of 53 cents a share, beating the average analyst estimate in a Bloomberg survey by 5.4 percent.
Motorola Inc. (MOT US) climbed 2.7 percent to $6.57 for the biggest gain since Feb. 2. The mobile-phone maker may rise as much as 40 percent during the next year if it spins off its mobile-phone unit and revenue from the radio and data- communications equipment division increases, Barron’s reported.
Nasdaq OMX Group Inc. (NDAQ US) fell the most in the S&P 500, sliding 4 percent to $18.05. The owner of the second- largest U.S. equity exchange forecast 2010 operating expenses will be $865 million to $885 million, including about $50 million in one-time costs. The forecast exceeded the estimate by Mike Vinciquerra, an analyst with BMO Capital Markets, by as much as $25 million.
Novavax Inc. (NVAX US) slid 5.9 percent to $2.09, the fourth decline in five days. Laboratorios Farmaceuticos Rovi SA, a Spanish drugmaker, said in a regulatory filing that it ended talks to develop a vaccine for H1N1 avian flu with the biotechnology company.
Priceline.com Inc. (PCLN US) rose 2 percent to $200.62, the first gain in three days. The online travel agency was raised to “positive” from “neutral” at Susquehanna Financial Group LLLP by equity analyst Marianne Wolk.
--With assistance from Emily Schmitt, Craig Trudell and Lu Wang in New York. Editor: Stephen Kleege, Michael Regan
To contact the reporter on this story: Nikolaj Gammeltoft in New York at ngammeltoft@bloomberg.net
To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net
