Bloomberg News

Daktronics, Juniper Networks, Supervalu: U.S. Equity Movers

June 01, 2011

June 1 (Bloomberg) -- Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 4 p.m. in New York.

American Superconductor Corp. (AMSC US) plunged 24 percent to $8.11, the biggest decline in the Russell 2000 Index. The maker of wind-turbine components and transmission lines delayed filing its annual report, saying it needed time to review revenue from shipments to China and expects to exclude a “material amount” of revenue that had been included in its sales estimate for the fiscal year ended in March.

Cheniere Energy Inc. (LNG US) dropped 7.9 percent, the most since March 8, to $10.79. The Houston-based liquefied-natural- gas company said it will sell 8.7 million shares in a public offering.

Daktronics Inc. (DAKT US) rose 9.2 percent, the most since Nov. 17, to $11.74. The maker of Times Square video displays and other electronic billboards reported fourth-quarter earnings and sales that beat analysts’ estimates

Dollar General Corp. (DG US) sank 9.3 percent, the second biggest drop in the Russell 1000 Index, to $31.81. The largest U.S. dollar-store chain reported first-quarter profit that missed analysts’ estimates, hurt by rising gasoline prices.

Supermarket chains Safeway Inc. (SWY US) and Supervalu Inc. (SVU US) also slumped, declining 6.2 percent to $23.16 and 6.4 percent to $9.60 respectively.

Jos. A. Bank Clothiers Inc. (JOSB US) slumped 13 percent, the most since September 2008, to $49.51. The maker of men’s apparel posted first-quarter profit of 64 cents a share, missing the 66-cent average analyst estimate.

Juniper Networks Inc. (JNPR US) slumped 9.9 percent to $32.97, the biggest decline in the Standard & Poor’s 500 Index. The network equipment maker’s Chief Executive Officer Kevin Johnson indicated at a Bank of America Corp. conference that “the quarter is back-end loaded,” fanning concern that results will be worse than investors anticipated, according to Michael Genovese, an analyst at MKM Partners LLC.

Orexigen Therapeutics Inc. (OREX US) rallied 18 percent to $3.34, the second-biggest gain in the Russell 2000. The developer of a prescription diet pill said it will provide a regulatory update on its Contrave on June 3.

SkyPeople Fruit Juice Inc. (SPU US) plunged 18 percent to $2.08, the lowest price since October 2008. The Xi’an, China- based fruit juice producer may be “massively overvalued” because it has misrepresented its revenue and profit, short seller Absaroka Capital Management LLC said in a report to clients.

Stream Global Services Inc. (SGS US) surged 22 percent, the most in the Russell 2000, to $3.72. The provider of technical support and business outsourcing services received a nonbinding offer from Trillium Capital LLC for $4.65 a share in cash. Trillium said it would also assume $200 million high-yield bonds due in 2014.

Telvent GIT SA (TLVT US) climbed 15 percent to $39.73, the biggest gain since December 2008. The Spanish information technology provider agreed to be bought by Schneider Electric SA (SU FP) for about 1.4 billion euros ($2 billion), or $40 a share.

T. Rowe Price Group Inc. (TROW US) fell 6 percent, the most since June 2009, to $59.52. The mutual fund manager was cut to “neutral” from “buy” at Goldman Sachs Group Inc.

--With assistance from Nikolaj Gammeltoft, Lu Wang, Rita Nazareth and Joanna Ossinger in New York. Editor: Stephen Kleege

To contact the reporter on this story: Inyoung Hwang in New York at ihwang7@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net


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