Bloomberg News

Amcol, Avid, Compuware, Reynolds, SanDisk: U.S. Equity Movers

July 22, 2011

July 22 (Bloomberg) -- Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 10:10 a.m. in New York.

Advanced Micro Devices Inc. (AMD US) surged 13 percent to $7.32 for the biggest gain in the Standard & Poor’s 500 Index. The second-largest maker of processors for personal computers forecast third-quarter sales that exceeded analysts’ estimates, citing orders for new chips. The company also had its stock rating raised by analysts at Wells Fargo & Co. and Canaccord Adams Inc.

Amcol International Corp. (ACO US) declined 14 percent, the most intraday since July 2009, to $30.86. The producer of clays reported second-quarter earnings before interest, taxes, depreciation and amortization that trailed the average analyst estimate in a Bloomberg survey.

Athenahealth Inc. (ATHN US) jumped 23 percent to $59.66 after advancing to $60.29 earlier, the highest intraday price since it went public in September 2007. The provider of Internet-based services for physician practices said it earned 22 cents a share excluding some items in the second quarter, beating the average analyst estimate by 20 percent.

Avid Technology Inc. (AVID US) dropped the most in the Russell 2000 Index, slumping 22 percent to $14.29. The maker of software for digital audio and video production reported a loss excluding some items of 10 cents a share in the second quarter. Analysts had expected a profit of 9 cents, according to Bloomberg survey. JPMorgan Chase & Co. cut the stock’s rating to “neutral” from “overweight.”

Caterpillar Inc. (CAT US) tumbled 6.2 percent, the most in the Dow Jones Industrial Average, to $104.66. The world’s largest maker of construction and mining equipment posted second-quarter earnings that missed the average analyst estimate after the Japanese earthquake and tsunami reduced sales and demand slowed in China.

Cepheid Inc. (CPHD US) climbed 19 percent to $37.70 and advanced to $37.92 earlier, the highest intraday price since it went public in June 2000. The maker of a rapid test for drug- resistant staph infections increased its earnings-per-share forecast for the fiscal year to as much as 11 cents a share, beating the average estimate of 5 cents a share by analysts.

Coinstar Inc. (CSTR US) fell6 .6 percent to $54.76 after slumping 10 percent earlier, the most intraday since Feb. 4. The operator of the Redbox film-rental kiosks said preliminary second-quarter revenue rose to $434 million to $436 million, falling short of analysts’ projections of $445.6 million. Mitch Lowe resigned as head of the Redbox unit, from which Coinstar gets 85 percent of its sales.

Compuware Corp. (CPWR US) rose 6.4 percent to $10 and jumped 7 percent earlier, the most intraday since Oct. 22. The business software maker reported first-quarter sales of $230 million, beating the average analyst estimate of $224.2 million in a Bloomberg survey.

C.R. Bard Inc. (BCR US) had the biggest loss in the S&P 500, sinking 9.8 percent to $101.62. The maker of surgical specialty products forecast third-quarter adjusted earnings per share of $1.61 a share at most, less than the average estimate of $1.62 a share by analysts in a Bloomberg survey.

Flextronics International Ltd. (FLEX US) rose 4.6 percent to $6.71 after gaining as much as 5 percent, the most intraday since March 3. The supplier of cameras and battery chargers for Apple Inc. (AAPL US) said it may buy back up to $200 million of its outstanding shares.

McDonald’s Corp. (MCD US) rose the most in the Dow Jones Industrial Average, adding 2.6 percent to $88.75. The world’s largest restaurant chain said second-quarter earnings per share were $1.35 a share, beating the average analyst estimate of $1.28, as more consumers dined out and the McCafe line of beverages boosted sales.

Reynolds American Inc. (RAI US) fell 5.3 percent to $36.48 after sinking to $36.02 earlier, the lowest intraday price since April 19. The tobacco company posted second-quarter excluding some items of 67 cents a share, missing the average analyst estimate of 71 cents in a Bloomberg survey.

Ruby Tuesday Inc. (RT US) dropped 12 percent to $9.70 and slumped 14 percent earlier, the most intraday since April 7. The casual-dining chain forecast first quarter earnings of 6 cents a share at the most, less than the average analyst estimate of 20 cents. It was cut to underperform at

SanDisk Corp. (SNDK US) climbed 8.2 percent to $44.96 and advanced 8.3 percent earlier, the most intraday since May 2010. The maker of flash-memory cards reported second-quarter profit excluding some items of $1.14 a share, beating the average analyst estimate by 16 percent, Bloomberg data show.

Skyworks Solutions Inc. (SWKS US) rallied 14 percent to $25.89 for the biggest increase in the Russell 1000 Index. The wireless semiconductor company forecast fourth-quarter revenue to be $400 million, beating the average analyst estimate of $371.3 million.

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

To contact the reporter on this story: Lu Wang in New York at lwang8@bloomberg.net; Victoria Taylor in New York at vtaylor6@bloomberg.net

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


Tim Cook's Reboot
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus