Bloomberg News

Cirrus, KeyCorp, Southwest, Union Pacific: U.S. Equity Movers

October 20, 2011

Oct. 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.

Amylin Pharmaceuticals Inc. (AMLN US) rallied 13 percent, the most since April 15, to $11.55. The San Diego-based drugmaker had a third-quarter loss of 9 cents a share. Analysts projected a loss of 14 cents a share, on average, according to data compiled by Bloomberg.

Boston Scientific Corp. (BSX US) lost 4.4 percent to $5.39, the lowest price since September 2010. The second-biggest heart- device maker by revenue said profit declined 25 percent in the third quarter as demand fell for its defibrillators and pacemakers used to regulate the heart.

Cirrus Logic Inc. (CRUS US) fell the second-most in the Russell 2000 Index, sinking 17 percent to $14.20. The supplier of parts for Apple Inc.’s (AAPL US) iPhone and iPad forecast third-quarter revenue of as little as $102 million, missing the average analyst estimate of $108 million.

Core Laboratories NV (CLB US) dropped 5.8 percent, the most since Aug. 4, to $96.76. The company that maps and analyzes oilfields using core samples reported third-quarter sales of $231.3 million, missing the average analyst estimate of $239.5 million. The shares were cut to “market perform” from “outperform” at Friedman Billings Ramsey & Co.

Cubist Pharmaceuticals Inc. (CBST US) rose 9.6 percent to $39.92, the highest intraday price November 2001. The Lexington, Massachusetts-based company that develops drugs to treat infections posted third-quarter earnings and sales that exceeded the average analyst projection and raised its annual revenue forecast.

Dell Inc. (DELL US) sank 5.4 percent, the most since Aug. 17, to $15.05. The third-largest personal-computer maker dropped amid concerns raised by one of its suppliers, Western Digital Corp. (WDC US), that the worst flooding in Thailand in five decades may hamper production for months.

EBay Inc. (EBAY US) fell 3.1 percent, the most since Oct. 3, to $32.15. The largest online marketplace forecast fourth- quarter sales and profit that missed some analysts’ estimates as it spends more on marketing products to woo developers and strengthen its payment services.

Edwards Lifesciences Corp. (EW US) advanced 6.2 percent, the most since Dec. 13, to $72. The maker of products to treat late-stage cardiovascular disease said its Sapien heart valve rollout preparations are complete and regulatory approval is expected soon.

Fifth Third Bancorp (FITB US) gained the most in the S&P 500, climbing 9.1 percent to $11.63. Ohio’s largest lender reported third-quarter earnings of 41 cents a share, beating the average analyst estimate by 26 percent.

Greenhill & Co. (GHL US) advanced 8.4 percent, the most since April 2009, to $37.62. The advisory firm reported third- quarter net income that beat analysts’ estimates.

Huntington Bancshares Inc. (HBAN US) slipped 6.9 percent, the most since Sept. 21, to $4.88. The Columbus, Ohio-based bank said its third-quarter provision for credit losses jumped 22 percent from a year earlier.

Ingersoll-Rand Plc (IR US) declined 7.9 percent to $27.38 for the second-biggest retreat in the S&P 500. The company that makes such products as Club Car golf cars and Schlage locks forecast fourth-quarter sales and earnings that trailed analysts’ estimates.

KeyCorp (KEY US) gained 6.9 percent to $6.81, the highest price since Aug. 15. Ohio’s second-largest bank reported third- quarter profit excluding some items that beat analysts’ average estimate by 4.7 percent as bad loans declined.

NetScout Systems Inc. (NTCT US) surged 20 percent, the most since January 2009, to $15.87. The maker of software to manage computer networks reported second-quarter earnings of 24 cents a share, beating the average analyst estimate by 9.6 percent, according to Bloomberg data.

Newfield Exploration Co. (NFX US) fell 15 percent, the most in the S&P 500, to $35.81. The petroleum producer with properties from the U.S. Rocky Mountains to China cut its 2011 production forecast as it reported third-quarter earnings 12 cents below analysts’ estimates.

Noble Corp. (NE US) gained 5.3 percent, the most since Sept. 7, to $33.45. The world’s third-largest offshore driller based on revenue said it is unlikely to order any more rigs this year as it works to roll out 14 new vessels by 2015.

Nokia Oyj (NOK US) rose 6.2 percent, the most since Aug. 15, to $6.50. The Espoo, Finland-based handset maker reported a smaller-than-estimated loss in the third quarter and said it set to introduce models based on Microsoft Corp.’s software next week.

Polycom Inc. (PLCM US) fell 25 percent, the most in the Russell 1000 Index, to $16.33. The largest independent maker of videoconference systems reported third-quarter revenue of $379 million, missing the average analyst estimate of $388.9 million. The company had its rating cut at Morgan Keegan & Co., Mizuho Securities USA Inc., Piper Jaffray & Co. and William Blair & Co.

Riverbed Technology Inc. (RVBD US) gained 8.9 percent to $24.53, the highest price since Sept. 15. The computer- networking technology company reported third-quarter sales and profit that exceeded the average analyst estimates.

Select Comfort Corp. (SCSS US) surged 20 percent to $19.42, the highest price since February 2007. The maker of air bed mattresses increased its full-year earnings forecast to at least 99 cents a share. Analysts, on average, estimated 95 cents, according to a Bloomberg survey.

Southwest Airlines Co. (LUV US) surged 4.5 percent to $9.10, its highest price since Aug. 3. The Dallas-based airline reported third-quarter earnings excluding some items of 15 cents a share, beating the average analyst estimate by 10 percent.

Swift Transportation Co. (SWFT US) rose 13 percent, the most since Aug. 24, to $9.18. The biggest truckload carrier in North America reported third-quarter adjusted earnings of 25 cents a share, exceeding the 21-cent average projection by analysts.

Travelzoo Inc. (TZOO US) rallied 5.3 percent to $32.40, the highest price since Sept. 19. The Internet travel marketer reported profit in the third quarter was 36 cents a share, exceeding the average analyst estimate of 35 cents as sales rose 40 percent from a year earlier.

Union Pacific Corp. (UNP US) climbed 4 percent to $94.59, the highest price since Aug. 3. The railroad advanced after saying rate increases helped push its revenue to a record amid a slowing U.S. economy.

Wynn Resorts Ltd. (WYNN US) lost 5.3 percent to $123.37, the lowest price since Oct. 5. The operator of the Wynn and Encore casinos reported third-quarter profit that missed analysts’ estimates as a recovery in Las Vegas slowed.

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

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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