Bloomberg News

Digital River, Expedia, Lear, Stamps.com: U.S. Equity Movers

October 28, 2011

Oct. 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.

Advanced Micro Devices Inc. (AMD US) rose 7.2 percent to $5.94, the highest price since Sept. 28. The second-largest maker of chips for personal computers forecast sales that may top some analysts’ estimates, citing laptop demand in emerging markets.

Align Technology Inc. (ALGN US) jumped the most in the Russell 2000 Index, rallying 33 percent to $23.65. The maker of a teeth-straightening product forecast fourth-quarter profit excluding some items at least 20 cents a share. That tops the average analyst estimate of 18 cents in a Bloomberg survey.

Aon Corp. (AON US) slumped 5.5 percent, the biggest decline since Aug. 8, to $47.99. The world’s largest insurance broker reported third-quarter earnings excluding some items of 69 cents a shares, missing the average analyst estimate by 4.7 percent.

Baidu Inc. (BIDU US) rose 4.5 percent to $144.62, the highest price since Sept. 19. China’s biggest Internet company by market value said third-quarter profit rose 80 percent to 1.88 billion yuan ($296 million) to beat analysts’ estimates as revenue from search-engine advertising surged.

Cablevision Systems Corp. (CVC US) lost 13 percent, the second-biggest retreat in the S&P 500, to $15.14. The fifth- largest U.S. cable-TV provider by subscribers reported profit declined 65 percent as video customers defected and expenses for programming and marketing rose.

CBRE Group Inc. (CBG US) climbed 11 percent, the most since June 2009, to $18.98. The commercial real estate broker reported third-quarter sales of $1.53 billion, beating the average analyst estimate by 4.3 percent, Bloomberg data shows.

Computer Programs and Systems Inc. (CPSI US) slumped 29 percent, the most since it went public in May 2002, to $51.01. The health-care information technology company forecast fourth- quarter earnings of 61 cents a share at most, trailing the average analyst estimate of 66 cents in a Bloomberg survey.

Digital River Inc. (DRIV US) slumped 20 percent, the most since October 2009, to $18.51. The company that builds and manages online businesses forecast fourth-quarter adjusted earnings of no more than 35 cents a share. Analysts had projected 39 cents on average. The shares were cut to “equalweight” from “overweight” at First Analysis Corp.

Expedia Inc. (EXPE US) fell 6.2 percent, the most since Aug. 18, to $27.28. The online travel agency posted third- quarter revenue that fell short of the average projection of analysts surveyed by Bloomberg.

Flowserve Corp. (FLS US) rose 5.4 percent to $97.02, the highest price since Aug. 1. The pumps and valves maker reported third-quarter sales of $1.12 billion, higher than the $1.11 billion estimated by analysts in a Bloomberg survey.

Goodyear Tire & Rubber Co. (GT US) jumped 4.9 percent to $14.84, the highest price since Aug. 3. The largest U.S. tiremaker said third-quarter profit excluding one-time items was 72 cents a share, exceeding the 26-cent average analysts’ estimates, helped by higher prices.

Hewlett-Packard Co. (HPQ US) advanced 3.5 percent to $27.94, the biggest gain in the Dow Jones Industrial Average. The world’s largest personal-computer maker announced plans to keep its PC unit, scrapping a proposal to spin off the division, marking the first major decision by Chief Executive Officer Meg Whitman since taking over last month.

HMS Holdings Corp. (HMSY US) fell 13 percent, the most since May 2008, to $23.60. The provider of data-processing products to the health care industry said 2012 earnings will match the average analyst estimate and revenue will be $435 million, compared with a $453.1 million average projection.

Interpublic Group of Cos. (IPG US) rallied 11 percent to $9.92, the third-biggest advance in the S&P 500. The New York- based advertising company reported third-quarter revenue of $1.73 billion, beating the average analyst estimate of $1.65 billion in a Bloomberg survey.

Las Vegas Sands Corp. (LVS US) gained 6 percent to $48.13 the highest price since Sept. 21. The U.S. casino company expanding in Asia reported third-quarter adjusted profit that beat analysts’ estimates as growth in Singapore and Macau continues, and Las Vegas recovers.

Lear Corp. (LEA US) dropped 4.2 percent to $47.60 for its biggest gain since Oct. 3. The maker of seats and other automobile parts reported a profit that was lower than analysts’ estimated as margins in its seating unit narrowed.

Leggett & Platt Inc. (LEG US) declined 5 percent, the most since Oct. 3, to $22.40. The maker of lumbar supports for car seats cut its 2011 earnings-per-share forecast to no more than $1.20 a share. Analysts project $1.33 on average, data compiled by Bloomberg show.

Newell Rubbermaid Inc. (NWL US) surged 11 percent, the most since April 2009, to $15.36. The maker of Sharpie pens and Graco car strollers plans to cut 500 jobs and reduce the number of operating units as costs for raw materials increase. The changes will save as much as $100 million in the next 12 to 18 months and result in charges of as much as $100 million, mostly by the end of 2012, the Atlanta-based company said.

NuVasive Inc. (NUVA US) erased 16 percent, the most since October 2010, to $14.93. The maker of spinal-surgery products reported third-quarter revenue of $132.9 million, below the average analyst estimate of $134.3 million. The San Diego, California-based company was cut to “market perform” from “outperform” at William Blair & Co.

Sonus Networks Inc. (SONS US) rallied 13 percent, the most since March 1, to $2.64. The maker of voice infrastructure products was raised to “buy” from “hold” at Miller Tabak & Co.

Spansion Inc. (CODE US) slid the second-most in the Russell 2000 Index, tumbling 26 percent to $10.37. The maker of flash- memory chips said that, excluding some items, it expects to report a fourth-quarter loss of at least 7 cents a share. Analysts, on average, estimated a profit of 20 cents a share.

Stamps.com Inc. (STMP US) rose 26 percent, the second-most in the Russell 2000 Index, to $32.73. The seller of postage over the Internet raised its 2011 adjusted earnings forecast to $1.20 to $1.40 a share, compared with the average analyst estimate for $1.22 a share, Bloomberg data show.

VCA Antech Inc. (WOOF US) surged 14 percent, the most since September 2002, to $20.79. The largest U.S. operator of veterinary hospitals and clinics reported third-quarter revenue increased 7.4 percent to $385.1 million from a year earlier, as sales from animal hospital jumped 9.6 percent.

VistaPrint NV (VPRT US) climbed 11 percent, the most since January 2009, to $35.25. The online provider of printing services projected second-quarter earnings excluding some items of 68 cents a share at least, beating the average analyst estimate of 64 cents.

Whirlpool Corp. (WHR US) sank 14 percent, the most since October 1987, to $51.80. The world’s largest maker of household appliances said it will cut more than 5,000 jobs and reduce capacity by six million units after lowering its earnings targets as consumers rein in spending.

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

To contact the reporter on this story: Whitney Kisling in New York at wkisling@bloomberg.net.

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


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