Bloomberg News

Bank of America, Barnes & Noble, Monster: U.S. Equity Movers

August 30, 2011

Aug. 30 (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.

Bank of America Corp. (BAC US) lost the most in the Dow Jones Industrial Average, slipping 3.2 percent to $8.12. The Federal Deposit Insurance Corp. objected to the lender’s proposed $8.5 billion mortgage-bond settlement with investors.

Barnes & Noble Inc. (BKS US) rose 15 percent, the most since May 20, to $13.13, the most intraday since May 20. The largest U.S. bookstore chain posted a smaller loss in the first quarter, helped by demand for its Nook e-reader, and forecast a $150 million to $200 million sales boost after the liquidation of competitor Borders Group Inc.

Boeing Co. (BA US) climbed the most in the Dow Jones Industrial Average, adding 2.2 percent to $66.03. The planemaker approved development of an upgraded 737 with more fuel-efficient engines after winning 496 order commitments from five airlines for the latest variant of the world’s most widely flown jetliner.

CoreLogic Inc. (CLGX US) surged 29 percent, the most in the Russell 1000 Index, to $11.35. The seller of property and credit data hired Greenhill & Co. to help consider options including a sale.

Corinthian Colleges Inc. (COCO US) gained 21 percent, the most since June 2, to $2.27. The for-profit education provider was raised to “buy” from “hold” at Gabelli & Co., which cited a “compelling value” and said with some “tweaking” most of the company’s programs are likely to meet U.S. Department of Education debt-to-income guidelines.

Dollar General Corp. (DG US) increased 5.8 percent to $35.76, the highest price since its initial public offering in November 2009. The biggest dollar-store chain in the U.S. said sales in 2012 will rise as much as 14 percent, up from a previous forecast of no more than 13 percent.

Family Dollar Stores Inc. (FDO US) climbed 4.2 percent to $51.06.

Eastman Kodak Co. (EK US) gained 12 percent to $3.40, the highest price since June 30. The 131-year-old camera company, which is seeking to generate cash from its intellectual property, has signed confidentiality agreements with numerous potential buyers of its patents it put up for sale last month, Chief Executive Officer Antonio Perez said.

Limelight Networks Inc. (LLNW US) rose 5.7 percent to $2.62, the highest price since Aug. 8. The software maker sold its EyeWonder advertising unit to DG Fastchannel, Inc. (DGIT US) for about $66 million in cash.

Monster Worldwide Inc. (MWW US) surged 21 percent to $9.91 for the biggest gain in the Standard & Poor’s 500 Index. The world’s largest online-recruiting company was “overdue for a bounce” after other Internet companies including professional- networking firm LinkedIn Corp. (LNKD US) have surged in recent weeks, said Douglas Arthur, an analyst at Evercore Partners Inc. in New York who rates the stock “equalweight.”

LinkedIn rose 6 percent to $87.49.

PulteGroup Inc. (PHM US) rose 7.1 percent to $4.95, the highest price since Aug. 5. The largest U.S. homebuilder by revenue was raised to “buy” from “neutral” at Ticonderoga Securities. The 12-month share-price estimate is $6.50.

--With assistance from Inyoung Hwang, Rita Nazareth and Nikolaj Gammeltoft in New York. Editor: Stephen Kleege

To contact the reporter on this story: Whitney Kisling in New York at wkisling@bloomberg.net

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


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