Bloomberg News

Alere, Corning, Dunkin’, Emerson, Stratasys: U.S. Equity Movers

July 27, 2011

July 27 (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.

Alere Inc. (ALR US) fell 13 percent, the most since June 2010, to $29.61. The maker of medical diagnostics equipment cut its full-year earnings forecast.

Amazon.com Inc. (AMZN US) rose 3.9 percent to $222.52, a record. The world’s largest online retailer reported second- quarter profit and sales that beat analysts’ estimates after its Kindle e-reader and digital-media services helped fuel growth.

C.H. Robinson Worldwide Inc. (CHRW US) declined 7.9 percent, the most since December 2008, to $73.88. The transportation-services company’s second-quarter earnings excluding some items fell short of analyst projections, data compiled by Bloomberg show.

Corning Inc. (GLW US) slipped 7.2 percent, the most since April 2009, to $16.04. The maker of glass for flat-panel televisions slashed its full-year sales forecast for its Gorilla Glass by 20 percent to $800 million.

Delta Air Lines Inc. (DAL US) fell 5.1 percent to $7.61, the lowest price since November 2009. The world’s second-largest airline plans further seating-capacity cuts after higher fuel and maintenance costs pulled second-quarter profit below analysts’ estimates.

Dunkin’ Brands Group Inc. (DNKN US) surged 47 percent to $27.85 on the first day of trading. The operator of Dunkin’ Donuts coffee shops sold 22.3 million shares at $19 each in an initial public offering.

Emdeon Inc. (EM US) surged 22 percent, the most since its initial public offering in August 2009, to $16.10. Blackstone Group LP (BX US) is in talks to buy the provider of software to help health-care companies manage payments and revenue, for more than $3 billion including debt, said a person with knowledge of the deal. Christine Anderson, a Blackstone spokeswoman, declined to comment.

Emerson Electric Co. (EMR US) fell 6.7 percent, the most since February 2009, to $50.43. The maker of valves and InSinkErator-brand garbage disposals said its underlying orders increased 10 percent to 15 percent in June, slowing from 15 percent in May.

IAC/InterActiveCorp. (IACI US) rose 11 percent to $42.04, the highest price since at least 1993. The operator of Match.com and Ask.com reported a 23 percent increase in second-quarter revenue from Web search products and growth in online dating subscribers.

Illumina Inc. (ILMN US) slumped 18 percent, the most since October 2009, to $57.33. The maker of DNA analysis equipment said it expects 2011 sales to increase 26 percent at most from $902.7 million a year earlier. That’s equivalent to $1.14 billion, missing the average analyst estimate of $1.15 billion in a Bloomberg survey.

International Game Technology (IGT US) rose 3.9 percent, the most since April 25, to $18.80. The maker of slot machines raised its full-year earnings estimate to as much as 93 cents a share, excluding some items. The average analyst estimate is 90 cents, according to data compiled by Bloomberg.

JDA Software Group Inc. (JDAS US) slid 5.2 percent, the most since Feb. 2, to $28.68. The maker of software used to track goods sent to retailers’ shelves reported quarterly sales that fell short of the average analyst forecast, data compiled by Bloomberg show.

Juniper Networks Inc. (JNPR US) fell the most in the S&P 500, tumbling 21 percent to $24.66. The second-largest maker of Internet networking equipment reported quarterly sales and profit that fell short of analysts’ estimates as some customers postponed buying gear.

Other networking-equipment makers also declined. Cisco Systems Inc. (CSCO US) slid 3.7 percent to $15.69 for the biggest retreat in the Dow Jones Industrial Average. JDS Uniphase Corp. (JDSU US) fell 8.1 percent to $13.78. Ciena Corp. (CIEN US) dropped 11 percent to $15.69.

Linear Technology Corp. (LLTC US) declined 3.5 percent to $30.10 for its biggest retreat since July 12. The maker of integrated circuits forecast first-quarter revenue of about $337 million at most, missing the average analyst estimate of $366.4 million in a Bloomberg survey.

Panera Bread Co. (PNRA US) fell 9.7 percent, the most since April 2009, to $116.80. The St. Louis-based restaurant chain said earnings this year may be as low as $4.54 a share, excluding some items. Analysts project $4.56 a share, on average, according to data compiled by Bloomberg.

P.F. Chang’s China Bistro Inc. (PFCB US) dropped 12 percent to $34.50 for its biggest decline since its initial public offering in 1998. The owner of the Asian-themed restaurants forecast full-year earnings of $1.70 at most, trailing the average analyst estimate of $2.09 in a Bloomberg survey.

Questcor Pharmaceuticals Inc. (QCOR US) surged 25 percent to $32.50 for the biggest gain in the Russell 2000 Index. The developer of a treatment for seizures in infants said quarterly earnings and revenue exceeded the average analyst forecasts, according to data compiled by Bloomberg.

Stratasys Inc. (SSYS US) slumped the most in the Russell 2000 Index, losing 26 percent to $28.11. The maker of software used by the automotive industry to design prototypes reported second-quarter sales of $37.6 million, trailing the average analyst estimate of $39.2 million in a Bloomberg survey.

Tempur-Pedic International Inc. (TPX US) rallied 9.4 percent to $72.24, the highest price since it went public in 2003. The maker of luxury mattresses raised its 2011 earnings estimate to at least $3.07 a share. That compares with the average analyst estimate for $2.95 a share, data compiled by Bloomberg show.

Total System Services Inc. (TSS US) had the biggest gain in the S&P 500, adding 5.3 percent to $19.13. The credit-card processor said it earned 28 cents a share from continuing operations in the second quarter. That’s 1 cent more than the average analyst estimate in a Bloomberg survey. Barclays Plc raised the stock’s rating to “overweight” from “equal weight.”

Trinity Industries Inc. (TRN US) retreated 11 percent, the most since March 2009, to $31.30. The Dallas-based maker of rail cars said third-quarter earnings won’t exceed 37 cents a share. Analysts project 45 cents a share, according to the average in a Bloomberg survey.

Tupperware Brands Corp. (TUP US) erased 13 percent to $62.21, the lowest price since June 16. The seller of plastic storage containers forecast full-year earnings will be as low as $4.50 a share, below the average analyst estimate of $4.54.

--With assistance from Lu Wang, Whitney Kisling, Rita Nazareth and Victoria Taylor in New York. Editor: Joanna Ossinger, Stephen Kleege

ALR US AMZN US CHRW US GLW US DAL US DNKN US EM US EMR US IACI US ILMN US IGT US JDAS US JNPR US CSCO US JDSU US CIEN US LLTC US PNRA US PFCB US QCOR US SSYS US TPX US TSS US TRN US TUP US <Equity> CN

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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