Bloomberg News

Amazon.com, First Solar, Questcor, Synnex: U.S. Equity Movers

September 28, 2011

Sept. 28 (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.

Amazon.com Inc. (AMZN US) rose 2.5 percent to $229.71 for the second-biggest gain in the Standard & Poor’s 500 Index. The world’s largest online retailer unveiled its Kindle Fire tablet computer, taking aim at Apple Inc.’s (AAPL US) bestselling iPad with a device that’s smaller and less than half the price.

Barnes & Noble Inc. (BKS US), the largest U.S. bookstore chain, slid 6.9 percent to $12.30.

Boise Inc. (BZ US) fell 9.8 percent, the most since Aug. 8, to $5.55. The paper and packaging maker was cut to “neutral” from “overweight” at JPMorgan Chase & Co., which said the company is vulnerable to lower pricing and the opportunity for further gains is limited.

First Solar Inc. (FSLR US) had the second-biggest drop in in the S&P 500, sinking 10 percent to $64.75. The world’s largest maker of thin-film solar modules had its share-price estimate reduced to $55 from $88 by Cantor Fitzgerald LP, which cited lower solar prices.

Imperial Holdings Inc. (IFT US) dropped the most in the Russell 2000 Index, plunging 65 percent to $2.19. The specialty finance company said some executives are under investigation in New Hampshire regarding its life finance business.

Jabil Circuit Inc. (JBL US) jumped 8.4 percent, the most in the S&P 500, to $18.84. The U.S. contract electronics manufacturer forecast fiscal first-quarter adjusted earnings of 62 cents a share at least, beating the average analyst estimate of 61 cents in a Bloomberg survey.

Progress Software Corp. (PRGS US) dropped 8.2 percent to $17.80, the lowest price since December 2009. The software- development company said it forecasts adjusted earnings of 30 cents to 33 cents a share in the fourth quarter, compared with the average analyst estimate of 42 cents.

Questcor Pharmaceuticals Inc. (QCOR US) rose 6.1 percent, the most since Aug. 9, to $27.27. The drug company’s preliminary prescription results for the third quarter are better than expected, according to Jefferies Group Inc.

RealD Inc. (RLD US) fell 15 percent, the most since July 29, to $10.42. Sony Corp. (6758 JP) will stop paying for RealD’s 3-D glasses in May, Hollywood Reporter said, citing a letter the Japanese company sent to theater owners.

Saba Software Inc. (SABA US) rallied 7 percent to $6, the biggest gain since Aug. 29. The maker of computer programs used by corporations to train employees reported a first-quarter adjusted loss that was narrower than analysts estimated.

Synnex Corp. (SNX US) climbed 9.4 percent, the most since July 2009, to $27.26. The distributor of computer products forecast fourth-quarter profit of at least $1.11 a share, beating the average analyst estimate of $1.10 in a Bloomberg survey.

--With assistance from Inyoung Hwang, Kaitlyn Kiernan and Lu Wang in New York. Editor: Stephen Kleege

To contact the reporter on this story: Joanna Ossinger in New York at jossinger@bloomberg.net

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


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