Bloomberg News

Cumulus Media, Molycorp, Royal Caribbean: U.S. Equity Movers

September 20, 2011

Sept. 20 (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.

Accuray Inc. (ARAY US) lost 16 percent, the most since Dec. 2008, to $4.12. The maker of robotic cancer treatment products reported a fourth-quarter loss of 40 cents per share and forecast first-quarter revenue for fiscal 2012 will be no more than $85 million. Analysts project $93.5 million on average, according to data compiled by Bloomberg.

Carnival Corp. (CCL US) climbed 5.1 percent, the most since Aug. 29, to $33.88. The world’s biggest cruise-ship operator reported third-quarter earnings and sales that exceeded the average analyst forecast. The company also said September bookings are holding up well in the economic slowdown.

Rival Royal Caribbean Cruises Ltd. (RCL US) increased 4.3 percent to $25.32.

Cumulus Media Inc. (CMLS US) soared 19 percent, the most since October 2009, to $2.98. The U.S. radio broadcaster acquiring Citadel Broadcasting Corp. was rated a new “buy” at CRT Capital Group LLC, which said the company’s cost-savings forecast with the acquisition may be “understated.”

FactSet Research Systems Inc. (FDS US) climbed 2.3 percent to $90.88, the highest price since Aug. 1. The Norwalk, Connecticut-based financial-data supplier forecast first-quarter sales may be as much as $1 a share, compared with the average analyst projection for 98 cents a share.

Healthsouth Corp. (HLS US) dropped 8.2 percent to $16.50 the lowest price since Aug. 31. The provider of inpatient rehabilitation services said it will host a conference call tomorrow to discuss potential impact of President Barack Obama’s inpatient rehabilitation-related proposals. CRT Capital cut the stock’s rating to “fairly valued” from “buy.”

Mellanox Technologies Ltd. (MLNX US) slipped 10 percent, the most since Aug. 8, to $31.96. The Israeli adapter maker that’s part owned by Oracle Corp. announced plans for a public offering of 3 million ordinary shares. Additional stock may the dilute the value of existing shares.

Molycorp Inc. (MCP US) fell 22 percent, the most in the Russell 1000 Index, to $41.45. The owner of the largest rare- earth deposit outside China was cut to “neutral” from “overweight” at JPMorgan Chase & Co., which cited a drop in rare-earth prices from July highs.

Netflix Inc. (NFLX US) fell the most in the Standard & Poor’s 500 Index, losing 9.5 percent to $130.03. The mail-order and online film-rental service is likely to face “more headwind” in the fourth quarter after cutting its forecast for domestic subscribers in the previous three months, Lazard Capital Markets said in a note to clients.

Newcastle Investment Corp. (NCT US) slumped 13 percent, the most since Aug. 8, to $4.90. The New York-based real estate investment trust said it’s offering 22.5 million shares to raise money for real estate investment and debt repurchase.

Newmont Mining Corp. (NEM US) jumped 5.5 percent to $69.90, its highest price since October 1987. Gold may rise to $2,000 an ounce by the end of this year and $2,300 an ounce by the end of 2012, Chief Executive Officer Richard O’Brien said.

Plexus Corp. (PLXS US) sank 7.5 percent, the most since Aug. 8, to $24. The contract electronics manufacturer was cut to “sell” from “neutral” at Ticonderoga Securities LLC.

PulteGroup Inc. (PHM US) rose 3 percent, the most since Sept. 7, to $4.51. The largest U.S. homebuilder was raised to “buy” from “neutral” at UBS AG, which said the stock’s valuation is “attractive.”

Rex Energy Corp. (REXX US) gained 10 percent to $14.92, the highest price since September 2008. The oil and gas company with operations in the Illinois and Appalachian basin was raised to “buy” from “hold” at Brean Murray & Co., which cited data on the company’s shale drilling.

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

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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