Bloomberg News

A123, Akamai, DeVry, Corinthian, Tesoro: U.S. Equity Movers

October 05, 2011

Oct. 5 (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.

Coal stocks rallied after the Wall Street Journal reported that the Environmental Protection Agency may ease rules, allowing power plants to emit more pollutants than previously permitted. A proposal is expected as early as this week, the report said, citing people familiar with the matter.

Alpha Natural Resources Inc. (ANR US) jumped 13 percent to $19.70. James River Coal Co. (JRCC US) surged 16 percent to $7.51. Arch Coal Inc. (ACI US) gained 8.4 percent to $15.71. Patriot Coal Corp. (PCX US) advanced 13 percent to $9.58.

Crude oil refineries jumped after oil rose for the first time in four days after the U.S. government reported an unexpected stockpile decline in the world’s biggest crude- consuming country.

Marathon Petroleum Corp. (MPC US) rose 9.4 percent to $31.48. Tesoro Corp. (TSO US) gained 14 percent to $21.95 for the biggest gain in the Standard & Poor’s 500 Index. Valero Energy Corp. (VLO US) climbed 9.2 percent to $19.61.

A123 Systems Inc. (AONE US) advanced 6.3 percent to $3.53, for a two-day gain of 17 percent, the most since Aug. 25. The lithium-ion battery maker was boosted to “hold” from “sell” at Wunderlich Securities Inc.

Acme Packet Inc. (APKT US) slumped 5.5 percent, the second- biggest decline in the Russell 1000 Index, to $40.46. The maker of devices to transmit phone calls and video said third-quarter earnings excluding some items will be no more than 22 cents a share, falling short of the average analyst estimate of 29 cents, Bloomberg data show. The company also forecast quarterly sales below the average forecast.

Akamai Technologies Inc. (AKAM US) gained 8.7 percent to $22.35, the highest price since Sept. 16. The operator of a server network that lets businesses deliver data quickly advanced after Bloomberg News’ Real M&A reported that the company may be cheap enough to lure International Business Machines Corp. (IBM US) or Verizon Communications Inc. (VZ US) as it approaches its lowest valuation on record.

Apollo Group Inc. (APOL US) rose 8.5 percent, the most since June 2, to $42.22. The operator of for-profit schools was raised to “outperform” from “neutral” at Credit Suisse Group AG.

Other for-private schools advanced. DeVry Inc. (DV US) climbed 6.8 percent to $39.38. Corinthian Colleges Inc. (COCO US) rallied 21 percent to $1.64. Strayer Education Inc. (STRA US) rose 4.7 percent to $79.35.

Level 3 Communications Inc. (LVLT US) rose 7 percent, the most since Aug. 29, to $1.52. Raymond James Financial Inc. boosted its 2011 and 2012 earnings forecasts for the broadband service provider after the company completed the acquisition one quarter earlier than anticipated.

Lufkin Industries Inc. (LUFK US) fell 8.8 percent $47.52, the lowest price since October 2010. The seller of pumps used in oil fields forecast fourth-quarter earnings of no more than 80 cents a share, below an earlier prediction of at least 85 cents and missing the average analyst estimate of 91 cents.

Monsanto Co. (MON US) rose 5.2 percent to $65.25, the highest price since Sept. 20. The world’s largest seed company reported a smaller loss in the fiscal fourth quarter than analysts estimated and said 2012 earnings will rise as much as 16 percent.

Research In Motion Ltd. (RIMM US) jumped 12 percent, the most since April 2009, to $23.60. The maker of the BlackBerry smartphone extended yesterday’s gain amid speculation the company may have hired an investment bank to explore strategic options. RIM spokeswoman Tenille Kennedy declined to comment.

Yahoo! Inc. (YHOO US) rose 10 percent, the most since October 2008, to $15.92. The owner of the most-visited U.S. Web portal, which is considering strategic options in the wake of ousting its chief executive officer last month, may get a bid from Microsoft Corp. (MSFT US), Reuters reported, citing sources close to the situation.

Walt Disney Co. (DIS US) climbed 5.5 percent, the most since May 10, to $31.51. The world’s biggest theme-park operator was raised to “buy” from “hold” at Citigroup Inc.

--With assistance from Inyoung Hwang, Nikolaj Gammeltoft, Whitney Kisling and Lu Wang in New York. Editors: Stephen Kleege, Joanna Ossinger

To contact the reporter on this story: Kaitlyn Kiernan in New York at kkiernan2@bloomberg.net

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


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