Bloomberg News

Coca-Cola, IBM, Lincare, Rudolph Tech, WebMD: U.S. Equity Movers

July 19, 2011

July 19 (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.

Homebuilders advanced after housing starts in the U.S. rose more than forecast in June to the fastest pace in five months. D.R. Horton Inc. (DHI US) climbed 5.7 percent to $11.93. Lennar Corp. (LEN US) gained 6.6 percent to $18.52. PulteGroup Inc. (PHM US) rose 3.5 percent to $7.18.

Avery Dennison Corp. (AVY US) declined 14 percent, the most in the Standard & Poor’s 500 Index, to $32.65. The world’s largest label maker reduced its full-year earnings forecast, saying it now expects $2.75 a share at most. Analysts, on average, estimated $3.04, according to Bloomberg survey. Robert W. Baird & Co. cut the stock’s rating to “neutral” from “outperform.”

Coca-Cola Co. (KO US) rose 3.3 percent, the most since June 2009, to $69.32. The world’s largest soft-drink maker posted second-quarter earnings and sales that exceeded the average analyst estimate and said it plans to buy back at least $2.5 billion worth of shares by the end of the year.

Harley-Davidson Inc. (HOG US) rose the most in the S&P 500, jumping 8.9 percent to $45.11. The biggest U.S. motorcycle maker reported a 37 percent increase in profit, beating analyst estimates, as it boosted home market sales for the first time in almost five years.

InterDigital Inc. (IDCC US) rallied 28 percent to $53.26 for the biggest gain in the Russell 2000 Index. The designer of mobile-phone technology said it hired Evercore Partners Inc. and Barclays Capital to consider “strategic alternatives,” as it weighs selling itself amid increasing demand for wireless patents.

International Business Machines Corp. (IBM US) rose the most in the Dow Jones Industrial Average, advancing 5.7 percent to $185.21. The world’s biggest computer-services company reported revenue and earnings that beat analysts’ estimates and boosted its full-year profit forecast as companies bought more software and equipment. Oracle Corp. (ORCL US) increased 3.7 percent to $32.64.

Lincare Holdings Inc. (LNCR US) fell 7.7 percent, the most since July 2010, to $26.29. The Clearwater, Florida-based oxygen supplier reported second-quarter profit excluding some items of 45 cents a share, trailing the average analyst estimate by 11 percent, Bloomberg data show.

Mosaic Co. (MOS US) climbed 3.1 percent, the most since June 29, to $68.49. North America’s second-largest fertilizer producer posted fourth-quarter earnings and sales that exceeded the average analyst estimate, Bloomberg data show.

NeoStem Inc. (NBS US) fell the most in the Russell 2000 Index, slumping 20 percent to $1.06. The company that stores adult stem cells for future therapeutic use priced an offering of 13.8 million units at $1.20 each. Each unit consists of one share and a warrant to purchase 0.75 of a share at an exercise price of $1.45.

Polaris Industries Inc. (PII US) jumped 4.6 percent, the most since June 20, to $118.06. The snowmobile maker raised its earnings estimate to at least $5.93 a share, higher than the $5.86 average forecast of analysts surveyed by Bloomberg.

Rudolph Technologies, Inc. (RTEC US) declined 8.6 percent to $9.59, its lowest price since March 17. The Flanders, New Jersey-based maker of semiconductor equipment said its second- quarter revenue will be $52 million at most, compared with the average analyst estimate of $53.4 million. The company noted “softness with certain customers.”

State Street Corp. (STT US) dropped 2.2 percent to $42.02 for the second-biggest retreat in the S&P 500. The third-largest custody bank said second-quarter earnings missed the average projection of analysts surveyed by Bloomberg.

WebMD Health Corp. (WBMD US) increased 14 percent, the most since February 2009, to $36.89. The medical-information company plummeted 30 percent yesterday after it reduced its 2011 forecast for profit and sales, citing an anticipated decline in advertising revenue.

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

To contact the reporter on this story: Victoria Taylor in New York at vtaylor6@bloomberg.net

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


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