Bloomberg News

AMR, Angie’s List, LinkedIn, SXC Health: U.S. Equity Movers

November 17, 2011

Nov. 17 (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.

Acco Brands Corp. (ABD US) rallied 26 percent, the most since May 2009, to $8.80. The maker of Swingline, Day-Timer and Kensington office supplies, agreed to merge with MeadWestvaco Corp.’s (MWV US) consumer-products business in a deal valued at about $860 million.

MeadWestvaco rose 5.9 percent, the biggest gain in the Standard & Poor’s 500 Index, to $29.51.

AMR Corp. (AMR US) retreated 5.5 percent to $1.72, the lowest price since March 2003. The holding company’s American Airlines unit may not resume talks with pilots to fashion a new, cost-cutting contract for two weeks as the sides remain split by differences over compensation and other issues.

Angie’s List Inc. (ANGI US) rallied 25 percent to $16.26. The consumer-review website with more than 1 million paying members debuted in trading after raising $114 million in an initial public offering.

Applied Materials Inc. (AMAT US) declined 7.5 percent, the most since April 2009, to $11.53. The largest producer of chipmaking equipment forecast first-quarter sales and profit that fell short of analysts’ predictions, a sign that semiconductor makers are scaling back expansion plans.

Childrens Place Retail Stores Inc. (PLCE US) rallied 15 percent, the most since November 2008, to $51.81. The youth- apparel chain boosted its forecast for earnings in 2012 to as much as $3.29 a share from no more than $3.25. The average analyst estimate was $3.23 a share.

CF Industries Holdings Inc. (CF US) retreated 11 percent, the most since Sept. 30, to $148.19. The fertilizer producer slipped after Profercy, a Leamington Spa, England-based that provides research on the fertilizer industry, said Ukraine gas prices may be set for a “major cut,” reducing a cost advantage for North American nitrogen-based crop nutrient producers.

Digital Generation Inc. (DGIT US) fell 8.1 percent to $14.61, the lowest price since March 2009. The Irving, Texas- based network that links advertisers and radio and television stations was cut to “underweight” from “neutral” at Piper Jaffray Cos.

Idexx Laboratories Inc. (IDXX US) rallied 3 percent, the most since Oct. 27, to $74.31. The U.K. Office of Fair Trading reached a decision that it has “no grounds for action” against the U.S. maker of diagnostic-testing equipment for animals after an investigation into its supply of veterinary services.

LinkedIn Corp. (LNKD US) jumped 4.7 percent, the most since Oct. 28, to $74.92. About 8.8 million shares of the biggest professional networking website sold at $71 each.

Marvell Technology Group Ltd. (MRVL US) sank 6.3 percent, the most since Aug. 18, to $13.76. The maker of the processor that runs BlackBerry smartphones was cut to “market underperform” from “market perform” by Alex Gauna, an analyst at JMP Securities LLC, who wrote in a note the company faces risks to its TD-3G and Wi-Fi initiatives next year that may hamper growth in these units.

NetApp Inc. (NTAP US) fell 12 percent to $35.73 for the biggest loss in the Standard & Poor’s 500 Index. The maker of data-storage products forecast third-quarter adjusted earnings of no more than 60 cents a share, 4 cents less than the average analyst estimate.

Perry Ellis International Inc. (PERY US) slumped the most in the Russell 2000 Index, falling 36 percent to $13.70. The maker of sportswear and casual clothing cut its annual adjusted earnings per share forecast after reporting third-quarter profit and sales that missed average analyst projections.

Sears Holdings Corp. (SHLD US) declined 4.6 percent to $65.19, the lowest price since Oct. 10. The retailer controlled by hedge-fund manager Edward Lampert reported a steeper third- quarter loss as sales declined. The net loss widened to $421 million from $218 million a year earlier. Sales fell 1.2 percent to $9.57 billion, the 19th straight quarterly decline.

SXC Health Solutions Corp. (SXCI US) jumped 6.4 percent to $52.74, the highest price since Oct. 21. The pharmacy benefits manager will acquire privately held Healthtrans LLC for $250 million in cash. The Lisle, Illinois-based company said it expects annual synergies of as much as $15 million in the next 12 to 18 months.

Viasystems Group Inc. (VIAS US) rose the most since September 2009, adding 22 percent to $18.16. The electronics manufacturer based in St. Louis withdrew its planned offering of 2 million common shares, citing “unfavorable market conditions.”

Zoll Medical Corp. (ZOLL US) jumped 23 percent, the most since July 29, to $43.84. The maker of defibrillators forecast revenue in 2012 will rise as much as 19 percent, compared with the average estimate of an increase of about 16 percent. The Chelmsford, Massachusetts-based company also reported a share buyback program of $50 million.

--With assistance from Inyoung Hwang 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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