Bloomberg News

Intel, Cooper Companies, Western Digital: U.S. Equity Movers

November 16, 2011

Nov. 15 (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.

Semiconductor-related shares rallied after Warren Buffett’s Berkshire Hathaway Inc. (BRK/B US) took a stake in Intel Corp. (INTC US). Intel, the world’s biggest chipmaker, rose 2.9 percent to $25.34.

Rubicon Technology Inc. (RBCN US) gained 4.9 percent to $11.74. Micron Technology Inc. (MU US) rose 2.1 percent to $5.46. Cree Inc. (CREE US) climbed 4 percent to $29.67. Broadcom Corp. (BRCM US) added 4.1 percent to $35.95.

Activision Blizzard Inc. (ATVI US) slipped 4.5 percent to $12.22, the lowest price since Oct. 5. Vivendi SA (VIV FP) is selling 35 million shares of Activision Blizzard Inc., the largest video-game publisher, people familiar with the matter said. The French media company is offering the shares at $12.20 to $12.30 each, according to a termsheet obtained by Bloomberg.

Air Lease Corp. (AL US) declined 3 percent to $22.39, the lowest price since Oct. 31. The aircraft-leasing company said it plans to offer $300 million of convertible notes due in 2018. Proceeds will be used to fund the acquisition of commercial aircraft and for general corporate purposes.

AMR Corp. (AMR US) fell 10 percent to $1.92 for the second- biggest decline in the Russell 1000 Index. The company’s American Airlines made a full contract proposal to its pilots union for the first time in more than five years of talks and urged that it be put to a rank-and-file vote.

Chimera Investment Corp. (CIM US) climbed the second-most in the Russell 1000, rising 11 percent to $2.82. The mortgage- debt investor’s delayed disclosure on third-quarter earnings and book value was a “positive development,” Barclays Plc said in a note.

Cooper Companies Inc. (COO US) fell the most in the Russell 1000 Index, losing 13 percent to $56.64. The maker of contact lenses expanded a recall of its Avaira line of products.

Dick’s Sporting Goods Inc. (DKS US) jumped 4.6 percent to $41.41, the highest price since May 13. The largest publicly traded U.S. athletic store reported third-quarter earnings excluding some items of 32 cents a share, beating the average analyst estimate by 21 percent, and boosted its full year out earnings forecast to at least $2.01 a share from at most $1.96. The Coraopolis, Pennsylvania-based company declared its first annual dividend at 50 cents a share.

FriendFinder Networks Inc. (FFN US) plunged 22 percent, the most since its initial public offering in May, to $1.47. The owner of Penthouse magazine, which is affiliated with about 250,000 dating and pornographic websites, reported a loss excluding some items of 15 cents a share, below the 18-cent profit estimated by Ladenburg Thalmann & Co., Bloomberg data show.

Geron Corp. (GERN US) plunged 20 percent, the most since March 2000, to $1.75. The company that was conducting the first U.S.-authorized trial of human embryonic stem cells is ending the program to focus on its cancer drugs. The Menlo Park, California-based company will eliminate 66 full-time jobs, or 38 percent of its workforce.

Headwaters Inc. (HW US) jumped 20 percent, the most in the Russell 2000, to $2.85. The coal-mining services provider was raised to “outperform” from “neutral” at Wedbush Securities Inc. with a 12-month price estimate of $5 a share.

Imperial Holdings Inc. (IFT US) fell 15 percent, the most since Sept. 28, to $2.07. The financial firm reported a loss of 59 cents a share in the third quarter. Analysts had projected a profit of 56 cents, according to the average of three estimates in a Bloomberg survey.

Jacobs Engineering Group Inc. (JEC US) increased 7.9 percent to $41.17 for the biggest gain in the Standard and Poor’s 500 Index. The engineering company reported fourth- quarter profit of 74 cents a share, beating the average analyst estimate of 72 cents in a Bloomberg survey.

LinkedIn Corp. (LNKD US) lost 4.6 percent to $74.86, the lowest price since Aug. 26. Bain Capital Ventures will sell all of its 3.71 million shares in the biggest professional- networking website in a secondary stock offering.

Quepasa Corp. (QPSA US) dropped 9.6 percent, the most since Oct. 3, to $4.23. The social media technology company reported a bigger third-quarter loss than analysts estimated.

Sears Holdings Corp. (SHLD US) fell 3.1 percent to $70.03, the lowest price since Oct. 13. Sears Canada Inc. (SCC CN) reported a third-quarter net loss of 44 Canadian cents a share, compared with profit of 19 Canadian cents a share a year earlier. Sears Holdings reports third-quarter results on Nov. 17.

Staples Inc. (SPLS US) declined 3.6 percent, the third-most in the S&P 500, to $14.81. The office-supply retailer cut its full year earnings outlook to at most $1.39 from at least that much. The Framingham, Massachusetts-based company reported third-quarter sales that missed the average analyst estimate, Bloomberg data show.

Wal-Mart Stores Inc. (WMT US) fell the most since Aug. 10, slipping 2.4 percent to $57.46. The world’s largest retailer reported third-quarter profit that trailed analysts’ estimates as it kept prices low to prop up sales at U.S. stores.

Western Digital Corp. (WDC US) slumped the most in the S&P 500, losing 4.9 percent to $25.05. The maker of computer disk drives was cut to “hold” from “buy” at Needham & Co.

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

To contact the reporter 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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