Bloomberg News

AIG, GNC, JPMorgan, United Community Banks: U.S. Equity Movers

October 12, 2011

Oct. 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.

Banks and credit card companies jumped after two U.S. House lawmakers said they would introduce a bill to repeal a Federal Reserve rule capping debit-card swipe fees.

Bank of America Corp. (BAC US) gained 3.3 percent to $6.58. JPMorgan Chase & Co. (JPM US) rose 2.8 percent to $33.20. Wells Fargo & Co. (WFC US) increased 3.5 percent to $26.95. SunTrust Banks Inc. (STI US) rose 3 percent to $19.40.

American Express Co. (AXP US) climbed 2.8 percent to $47.03. Capital One Finanical Corp. (COF US) gained 2.2 percent to $43.44.

Life insurers advanced after JPMorgan Chase & Co. said most stocks in the industry “present significant upside once markets stabilize.” Lincoln National Corp. (LNC US) climbed 6.2 percent to $17.36. American International Group Inc. (AIG US) added 6.2 percent to $23.76. Aflac Inc. (AFL US) increased 4.2 percent to $40.62.

Nutritional supplement companies fell after a study published in the Journal of the American Medical Association reported daily use of vitamin E increased the risk of prostate cancer in healthy men. Vitamin Shoppe Inc. (VSI US) fell 7.9 percent to $35.24, its lowest price since April 14. GNC Holdings Inc. (GNC US) slipped 4 percent to $20.81.

A123 Systems Inc. (AONE US) rallied 27 percent, the most since Aug. 11, to $4.19. The company will supply batteries for an electric vehicle that General Motors Co. (GM US) plans to start selling in 2013.

Infosys Ltd. (INFY US) jumped 7 percent, the most since May 2009, to $56.34. India’s second-largest software exporter beat analysts’ second-quarter profit estimates as U.S. customers outsourced more services and raised its full-year sales projection.

The results are “positive” for Cognizant Technology Solutions Corp. (CTSH US), a computer-services provider, JPMorgan Chase & Co. said in a note. Cognizant advanced 5.6 percent to $71.26.

Johnson Controls Inc. (JCI US) increased 5.2 percent to $31.72, the highest price since Aug. 31. The largest U.S. auto supplier said per-share earnings will increase about 20 percent in 2012. That’s “much better than what is priced into the stock,” David Leiker, an analyst with Robert W. Baird & Co. in Milwaukee, said in an e-mail. Johnson Controls shares lost 21 percent in 2011 through yesterday, compared with a 4.9 percent drop by the Standard & Poor’s 500 Index.

Liz Claiborne Inc. (LIZ US) rallied 34 percent to $6.84, the most in the Russell 2000 Index. The owner of Juicy Couture and Kate Spade agreed to sell its namesake and Monet brands to J.C. Penney Co. (JCP US) and its Kensie line to Bluestar Alliance.

NeuStar Inc. (NSR US) gained 7.4 percent to $30.10, the highest price since October 2008. The company that directs phone traffic raised the bottom end of its 2011 revenue-projection range to $595 million from $585 million and held the top end at $600 million, after it said it plans to buy Targus Information Corp.

TE Connectivity Ltd. (TEL US) gained 7.1 percent, the most since July 2009, to $32.86. The Swiss manufacturer of automotive and aerospace products will replace Cephalon Inc. (CEPH US) in the Standard & Poor’s 500 Index after the close of trading on Oct. 14.

United Community Banks Inc. (UCBI US) fell 9.1 percent to $8, the third-biggest decline in the Russell 2000 Index. The regional bank, which has branches in Georgia and North Carolina, recorded a special loan loss provision of $25 million during the third quarter.

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

To contact the reporters 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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