Bloomberg News

Cavium, Colfax, EZchip, M&F, New York Times: U.S. Equity Movers

September 12, 2011

Sept. 12 (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.

Coldwater Creek Inc. (CWTR US) rallied 13 percent to $1.35, the highest price since July 13. Chief Executive Officer Dennis C. Pence bought a combined 685,752 shares of the clothing retailer last week, according to a regulatory filing.

Colfax Corp. (CFX US) dropped 8.6 percent to $21.06, the lowest price since May 24. The Fulton, Maryland-based manufacturer of pumps and specialty valves plans to buy Charter International Plc (CHTR LN) for 1.53 billion pounds ($2.4 billion), trumping an offer from rival suitor Melrose Plc.

EZchip Semiconductor Ltd. (EZCH US) rose 11 percent, the most since Aug. 3, to $32.65. The maker of network processors may be a takeover target for Marvell Technology Group Ltd. (MRVL US), Benchmark Co. analyst Gary Mobley said. Mobley also said Cavium Inc. (CAVM US) could be acquired following Broadcom Corp.’s (BRCM US) acquisition of NetLogic Microsystems Inc. (NETL US). Cavium added 7.1 percent to $33.10.

Gannett Co. (GCI US) had the fourth-biggest decline in the S&P 500, erasing 3.4 percent to $9.51. The newspaper publisher had its share-price estimate reduced to $10 from $14 by UBS AG, which cut its growth projection for the printing advertising industry.

UBS trimmed New York Times Co.’s (NYT US) share-price forecast to $8 from $10 and the stock declined 1.8 percent to $7.05.

Global Industries Ltd. (GLBL US) surged 51 percent to $7.78 for the biggest gain in the Russell 2000 Index. Technip SA, Europe’s second-biggest oil services company, agreed to buy Global Industries of the U.S. for $937 million in cash to expand in the market for underwater energy projects.

M&F Worldwide Corp. (MFW US) jumped 19 percent, the most since June 13, to $24.25. The producer of licorice extract and other flavoring agents agreed to be bought by shareholder MacAndrews & Forbes Holdings Inc. for $25 a share.

NetLogic Microsystems Inc. (NETL US) jumped 51 percent to $48.12, the highest price since it went public in July 2004. Broadcom Corp. (BRCM US), the maker of communications chips for Apple Inc.’s mobile devices, agreed to buy NetLogic for about $3.7 billion to expand its product range.

Tenet Healthcare Corp. (THC US) slid 10 percent, the most in the S&P 500, to $4.52. The hospital operator said earnings before interest, taxes, depreciation and amortization in 2011 will be at the low end of an earlier forecast.

Wonder Auto Technology Inc. (WATG US) plunged 55 percent to $2.46 after trading resumed from a suspension since May 6. The Chinese auto parts producer said its audit committee is still investigating whether former senior corporate officers have manipulated and falsified financial statements.

--With assistance from Lu Wang, Inyoung Hwang, Rita Nazareth and Bradley Keoun in New York. Editors: Joanna Ossinger, Jeff Sutherland

To contact the reporter on this story: Nikolaj Gammeltoft in New York at ngammeltoft@bloomberg.net

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


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