Bloomberg News

General Electric, Morgan Stanley, Pandora: U.S. Equity Movers

December 09, 2011

Dec. 9 (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.

Financial shares gained after European leaders agreed to boost a rescue fund and tighten budget rules to stem the region’s debt crisis. Bank of America Corp. (BAC US) rose 2.3 percent to $5.72. JPMorgan Chase & Co. (JPM US) increased 3 percent to $33.18. Morgan Stanley (MS US) advanced 3.2 percent to $16.38. Citigroup Inc. (C US) jumped 3.7 percent to $28.77.

Blue Coat Systems Inc. (BCSI US) surged 44 percent, the most since October 2001, to $25.11. The maker of Internet- security software agreed to be bought by an investor group led by Thoma Bravo LLC for $25.81 a share, or about $1.3 billion.

Cell Therapeutics Inc. (CTIC US) had the second-biggest retreat in the Russell 2000 Index, sliding 14 percent to $1.18. The biopharmaceutical company agreed to sell $20 million of stock to two institutional investors.

Cooper Cos. (COO US) jumped 17 percent, the most in the Russell 1000 Index, to $67.81. The maker of contact lenses forecast fiscal 2012 earnings of at least $4.80 a share, above the average analyst estimate of $4.65 in a Bloomberg survey.

Diamond Foods Inc. (DMND US) gained 53 percent, the most in the Russell 2000, to $40.56. An investigation is likely to show the maker of Kettle potato chips and snack nuts properly accounted for payments made to walnut growers, Keybanc Capital Markets Inc. said in a note to clients.

DuPont Co. (DD US) fell 3.2 percent, the most in the Dow Jones Industrial Average, to $45.04. The chemical maker forecast 2011 earnings excluding some items of no more than $3.95 a share, missing the average analyst estimate of $4.04.

Flow International Corp. (FLOW US) surged 45 percent, the most since its initial public offering in 1984, to $3.52. The maker of Dynamic high-pressure water jets for cutting industrial materials reported second-quarter profit of 6 cents a share excluding some items, beating the estimate of 1 cent a share by two analysts in a Bloomberg survey.

General Electric Co. (GE US) jumped 3.3 percent, the second-biggest gain in the Dow Jones Industrial Average, to $16.84. The world’s biggest maker of jet engines, power generation equipment, health-care imaging equipment and locomotives raised its quarterly dividend to 17 cents a share from 15 cents, as Chief Executive Officer Jeffrey Immelt increased the payout for the fourth time in two years.

Pall Corp. (PLL US) rose the most since Aug. 9, climbing 7.9 percent to $56.66. The supplier of filters for drugmakers and refineries reported first-quarter earnings excluding some items that beat the average analyst estimate by 14 percent, according to Bloomberg data.

Pandora Media Inc. (P US) sank 5.1 percent to $9.90, the lowest price since Nov. 29. The online music service provider fell after rival Spotify Ltd. announced plans to offer comparable products.

Pharmacyclics Inc. (PCYC US) fell 15 percent, the most in the Russell 2000, to $12.39. The cancer-drug maker that announced a deal with Johnson & Johnson (JNJ US) yesterday fell after RBC Capital Markets said the transaction means it is unlikely to be acquired.

Spectrum Pharmaceuticals Inc. (SPPI US) declined 5.1 percent, the most since Nov. 9, to $13.83. An unidentified company has applied to sell a generic version of the drugmaker’s Fusilev injections, according to a notice on the U.S. Food and Drug Administration’s website.

--With assistance from Lu Wang and Nikolaj Gammeltoft in New York. Editors: Stephen Kleege, Nick Baker

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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