Bloomberg News

Alpha Natural, Best Buy, Telephone & Data: U.S. Equity Movers

November 29, 2011

Nov. 29 (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.

Energy companies climbed as the price of crude oil rose for a third day. Alpha Natural Resources Inc. (ANR US) advanced 2.7 percent to $20.84. Denbury Resources Inc. (DNR US) increased 4.2 percent to $15.98. Quicksilver Resources Inc. (KWK US) jumped 8.2 percent to $7.79.

AMR Corp. (AMR US) plunged 84 percent to 26 cents for the biggest retreat in the Russell 1000 Index. American Airlines’ parent filed for bankruptcy after failing to secure cost-cutting labor agreements and sitting out a round of mergers that dropped it from the world’s largest airline to No. 3 in the U.S.

Rivals gained. United Continental Holdings Inc. (UAL US) added 6.3 percent to $17.63. Delta Air Lines Inc. (DAL US) rose 5 percent to $7.80. JetBlue Airways Corp. (JBLU US) climbed 10 percent to $4.06. US Airways Group Inc. (LCC US) rallied 4.5 percent to $4.46.

A123 Systems Inc. (AONE US) jumped 3.8 percent, the most since Oct. 27, to $2.18. IHI Corp. (7013 JP), the Japanese manufacturer of heavy machinery agreed to make an equity investment of $25 million in the maker of batteries for electric vehicles.

Best Buy Co. (BBY US) climbed 5.2 percent, the most since Sept. 15, to $27.86. The world’s largest consumer-electronics retailer was labeled a “long research tactical idea” by Morgan Stanley.

Central European Distribution Corp. (CEDC US) surged 29 percent, the most in the Russell 2000 Index, to $4.39. Russian Standard Corp. reported a 9.9 percent stake in the vodka producer.

Corning Inc. (GLW US) slipped 11 percent to $13.19 for the biggest retreat in the Standard & Poor’s 500 Index. The maker of glass for flat-panel televisions cut its fourth-quarter sales forecast for its Gorilla Glass and said it expects earnings to drop more than estimated.

Dillard’s Inc. (DDS US) dropped 6.8 percent to $46.29, the lowest price since Oct. 10. The Arkansas-based department-store chain was cut to “neutral” from “buy” at Sterne Agee & Leach Inc., which cited margin erosion concerns and cut its 12-month price estimate to $47 a share from $58.

Gulfport Energy Corp. (GPOR US) fell 6.9 percent, the most since Nov. 9, to $29.53. The Oklahoma City-based producer of oil and natural gas and its shareholders are offering to sell 5 million shares.

Home Depot Inc. (HD US) rose 5.3 percent, the biggest gain in the Dow Jones Industrial Average, the $38.96. The world’s largest home-improvement retailer was recommended by CNBC’s Jim Cramer, citing its dividend and better-than-estimated third- quarter earnings.

Inhibitex Inc. (INHX US) jumped 20 percent to $13.70, the highest price since it went public in June 2004. The biopharmaceutical company said a clinical trial of its INX-189 hepatitis C treatment in combination with ribavirin showed an “increase in antiviral activity.”

Research In Motion Ltd. (RIMM US) jumped 5.4 percent, the most since Oct. 5, to $17.37. The BlackBerry maker was raised to “market perform” from “underperform” at Stanford C. Bernstein & Co., which said shareholder activism may lead to management change or a takeover.

Susser Holdings Corp. (SUSS US) fell 10 percent, the most since May 2009, to $22.78. The operator of convenience stores in Texas, New Mexico and Oklahoma said it will offer 3.5 million shares, raising money to build new facilities and for general corporate purposes including debt reduction.

Telephone & Data Systems Inc. (TDS US) climbed 6.5 percent, the most since May 2009, to $25.79. The Chicago-based telecommunications company said it adjusted the reclassification ratio to 1.087 for holders of common and Series A common shares.

Thor Industries Inc. (THO US) declined 4.9 percent to $23.14, the lowest price since Oct. 3. The recreational-vehicle maker reported first-quarter earnings of 41 cents a share, missing the average analyst estimate by 1 cent.

Tiffany & Co. (TIF US) slid 8.7 percent, the most since Aug. 8, to $67.22. The world’s second-largest luxury jewelry retailer forecast fourth-quarter earnings of at most $1.58 a share, missing the average analyst estimate of $1.63 a share. The company cited “continued short-term economic challenges” and “recent sales weaknesses” in Europe.

Transocean Ltd. (RIG US) fell 9.4 percent to $41.63, the lowest price since August 2004. The world’s largest offshore driller said it would sell shares to help refinance its acquisition of Aker Drilling ASA.

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

To contact the reporter on this story: Inyoung Hwang in New York at ihwang7@bloomberg.net

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


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