Bloomberg News

Consol Energy, JPMorgan, Marriott, Pandora: U.S. Equity Movers

July 14, 2011

July 14 (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.

Chicago Bridge & Iron Company NV (CBI US) rose 5.7 percent, the most since Dec. 1, to $40.82. The construction company was awarded a $2.3 billion contract from Chevron Australia for mechanical, electrical, instrumentation work on the energy company’s Gorgon Project, scheduled to be completed 2015.

Consol Energy Inc. (CNX US) had the biggest gain in the S&P 500, adding 4.4 percent to $50.89. The coal producer boosted its guidance for the year to as much as 63 million tons from earlier forecasts for up to 62 million tons.

Fairchild Semiconductor International Inc. (FCS US) rose 2.9 percent to $16.59 for its biggest gain since July 1. The San Jose, California-based chipmaker said it earned 41 cents a share excluding some items in the second quarter, beating the average analyst estimate by 3 percent, Bloomberg data show.

Jazz Pharmaceuticals Inc. (JAZZ US) advanced 6 percent to $37.07, the highest price since its initial public offering in May 2007. The drugmaker was rated “overweight” in new coverage by Piper Jaffray Cos., which cited potential for “compelling” operating cash flows next year and beyond.

JPMorgan Chase & Co. (JPM US) rose the most in the Dow Jones Industrial Average, jumping 1.8 percent to $40.35. The second-biggest U.S. bank by assets said net income rose 13 percent as more borrowers paid on time and the bank reduced credit-card loan-loss reserves by $1 billion. JPMorgan posted second-quarter profit of $1.27 excluding some items, above the average analyst estimate of $1.21 in a Bloomberg survey.

Marriott International Inc. (MAR US) dropped 6.6 percent to $34.69 for the biggest retreat in the S&P 500. The largest publicly traded U.S. hotel chain said third-quarter earnings won’t be higher than 29 cents a share, falling short of the 30- cent average analyst projection.

Host Hotels & Resorts Inc. (HST US) fell 3.4 percent to $16.64. Starwood Hotels & Resorts Worldwide Inc. (HOT US) decreased 2.2 percent to $55.65. Hyatt Hotels Corp. (H US) declined 4.8 percent to $39.27.

MBIA Inc. (MBI US) surged 9.2 percent to $10.02, the highest price since May 10. The bond insurer received a preliminary offer from Bank of America Corp. (BAC US) aimed at settling a legal dispute tied to defective mortgages, two people briefed on the discussions said.

Nutrisystem Inc. (NTRI US) rose 5.4 percent, the most since April 28, to $15.11. The provider of prepared meals to help clients lose weight was raised to “outperform” from “neutral” at Wedbush Securities Inc., which cited a “potential sharp rebound in earnings.”

Progressive Corp. (PGR US) fell 3.8 percent, the most since Dec. 16, to $20.13. The fourth-largest U.S. auto insurer said profit for the quarter was 38 cents a share excluding some items, missing the average estimate of 40 cents a share from 19 analysts in a Bloomberg survey.

RTI International Metals Inc. (RTI US) declined the most in the Russell 2000 Index, erasing 13 percent to $32.66. The maker of titanium and specialty metal mill products was cut to “sell” from “neutral” by Goldman Sachs Group Inc.

Southern Union Co. (SUG US) rose 4.4 percent to $43.42, the highest price since at least 1988. Williams Cos. (WMB US) increased its unsolicited offer for the Houston-based natural gas pipeline operator to $44 a share, or $5.49 billion, in an attempt to outbid Energy Transfer Equity LP (ETE US).

Universal Forest Products Inc. (UFPI US) rallied 21 percent to $29.13 for the biggest gain in the Russell 2000 Index. The maker of do-it-yourself lumber products reported second-quarter profit excluding some items that was more than double the average analyst estimate, according to Bloomberg data.

--With assistance from Victoria Stilwell, Whitney Kisling and Lu Wang in New York. Editors: Joanna Ossinger, Stephen Kleege

To contact the reporter on this story: Cecile Vannucci in New York at cvannucci1@bloomberg.net.

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


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