Bloomberg News

Chesapeake, Groupon, Intermec, Starbucks: U.S. Equity Movers

November 07, 2011

Nov. 4 (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. New York time.

A123 Systems Inc. (AONE US) fell 10 percent, the most since Oct. 3, to $3.17. The maker of batteries for electric vehicles cut its sales forecast on reduced orders by Fisker Automotive Inc.

AMAG Pharmaceuticals Inc. (AMAG US) rose 18 percent, the most since January 2010, to $16.20. The maker of the anemia drug Feraheme said its chief executive officer resigned and 25 percent of its workers will be fired as the company reviews options that may include a possible sale.

Central European Distribution Corp. (CEDC US) plunged 36 percent to $3.21, the lowest price since October 2002. The vodka maker reduced its full-year earnings forecast to 45 cents a share at most. That missed the average analyst estimate of 60 cents in a Bloomberg survey.

Chesapeake Energy Corp. (CHK US) lost 6.8 percent, the biggest decline in the Standard & Poor’s 500 Index, to $27.07. The most active U.S. oil and natural-gas driller reported higher capital expenses and its “cash burn continues at a rapid pace,” according to Jon Wolff, an analyst at International Strategy & Investment Group Inc.

Clearwire Corp. (CLWR US) rallied 8 percent to $1.89, after falling 14 percent yesterday. Sprint Nextel Corp. (S US), the third-largest U.S. wireless operator, said it may use money from a seven- and ten-year notes offering to help finance the unprofitable wholesale wireless carrier.

Fluor Corp. (FLR US) had the second-biggest retreat in the S&P 500, dropping 6.4 percent to $54.86. The largest publicly traded U.S. construction company forecast earnings excluding some items of $3.80 a share next year. That trails the average analyst estimate of $4 in a Bloomberg survey.

Genworth Financial Inc. (GNW US) rose 17 percent, the most in the S&P 500, to $7.19. The home-loan guarantor and life insurer said it will sell a stake in its Australian mortgage- insurance business next year and may buy back stock.

Groupon Inc. (GRPN US) jumped 31 percent to $26.11 in its trading debut. The online-coupon company raised $700 million in an initial public offering that limited the amount of shares typically available to investors.

Inhibitex Inc. (INHX US) soared 116 percent, the most in the Russell 2000 Index, to $8.54. The biopharmaceutical company reported a narrower third-quarter loss than analysts estimated and said a clinical trial of a higher dose of INX-189, an oral treatment for chronic hepatitis C, showed no serious adverse events.

Intermec Inc. (IN US) fell 9.4 percent, the most since Aug. 10, to $7.80. The maker of hand-held scanners reported an adjusted third-quarter profit of 9 cents a share, missing the average analyst estimate by 6.3 percent, according to data compiled by Bloomberg.

LinkedIn Corp. (LNKD US) sank 5.9 percent to $82.37, the lowest price since Oct. 12. The biggest professional-networking website, reported a third-quarter loss of $1.6 million as the company boosted spending on research and development.

MasTec Inc. (MTZ US) plunged 20 percent, the most since November 2007, to $17.52. The contractor said it expects fourth- quarter earnings excluding some items of at most 15 cents a share, missing the average analyst estimate of 35 cents.

MedAssets Inc. (MDAS US) rose 17 percent, the most since October 2008, to $12.09. The provider of information technology services to health-care companies reported third-quarter sales and profits that beat analysts’ estimates.

Rofin-Sinar Technologies Inc. (RSTI US) slumped 11 percent, the most since Aug. 8, to $23.47. The developer of laser-based cutting and welding tools forecast first-quarter earnings would be no more than 36 cents a share, falling short of the 50-cent average projection of analysts surveyed by Bloomberg.

Rosetta Stone Inc. (RST US) plunged 24 percent to $7.72, the lowest price since its initial public offering in April 2009. The language-software maker forecast fourth-quarter revenue that falls short of analyst projections.

Starbucks Corp. (SBUX US) rose 6.7 percent to $44.19, the highest price since it went public in 1992. The world’s largest coffee-shop operator said fourth-quarter profit rose 29 percent as U.S. sales increased.

Tecumseh Products Co. (TECUA US) lost the second-most in the Russell 2000 Index, falling 32 percent to $4.61. The maker of hermetic compressors for air conditioning and refrigeration products posted a third-quarter loss of $1.18 per share. The company is hosting a conference call today.

Warner Chilcott Plc (WCRX US) declined the most since Aug. 4, sliding 7.4 percent to $17.01. The pharmaceutical company focused on women’s health care reaffirmed its 2011 revenue forecast and reported third-quarter net income that missed estimates, data compiled by Bloomberg show.

Windstream Corp. (WIN US) fell 5.4 percent, the most since Aug. 8, to $11.85. The phone company that provides service to rural areas of the U.S. reported earnings excluding some items of 19 cents a share, falling short of the average analyst estimate by 5.9 percent.

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

To contact the reporters on this story: Nikolaj Gammeltoft in New York at ngammeltoft@bloomberg.net;

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


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