Bloomberg News

Avon Products, Chevron, Joy Global, Hecla: U.S. Equity Movers

December 14, 2011

Dec. 14 (Bloomberg) -- Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 4 a.m. in New York.

Avon Products Inc. (AVP US) rose 5.1 percent to $16.96 for the biggest gain in the Standard & Poor’s 500 Index. The world’s biggest door-to-door cosmetics seller will search for a new chief executive officer next year to replace Andrea Jung as Avon grapples with slowing sales.

Caterpillar Inc. (CAT US) fell 4.4 percent to $87, the biggest decline in the Dow Jones Industrial Average. The world’s largest construction and mining-equipment maker sold part of its Bucyrus distribution unit in Australia for $360 million to Malaysia’s Sime Darby Bhd.

Charles Schwab Corp. (SCHW US) slid 4.9 percent, the most since Nov. 9, to $10.97. The San Francisco-based brokerage said it expects fourth-quarter per-share profit to be 4 cents to 6 cents lower than the 18 cents reported in the previous three months. Analysts, on average, estimated 16 cents, according to a Bloomberg survey.

Cheniere Energy Inc. (LNG US) dropped 10 percent, the most since Oct. 3, to $8.39. The Houston-based liquefied natural-gas company said it will sell 33 million shares to repay debt and for general corporate purposes.

Chevron Corp. (CVX US) declined 3 percent, the most since Nov. 9, to $100.53. Brazil’s federal prosecutor’s office said it asked the second-largest U.S. oil company to suspend all activity in the country and pay 20 billion reais ($10.7 billion) in damages after an oil spill last month. Transocean Ltd. (RIG US), the offshore drilling contractor, was also asked to suspend activity in Brazil. The shares fell 3.9 percent to $40.19, the lowest price since August 2004.

First Solar Inc. (FSLR US) fell 21 percent to $33.45, the most in the Russell 1000 Index. The world’s largest maker of thin-film solar panels reduced 2011 sales and profit forecasts and said it will cut about 100 jobs.

FormFactor Inc. (FORM US) dropped 7 percent to $5.02, the lowest price since its initial public offering in June 2003. The maker of equipment that tests the functionality of computer chips lowered its fourth-quarter revenue forecast to no more than $31 million, down from a previous guidance of as much as $34 million.

Green Mountain Coffee Roasters Inc. (GMCR US) dropped 4.5 percent to $47.72, the lowest price since Nov. 15. The maker of the Keurig single-serve coffee brewer had its 2012 earnings estimate cut to $2.38 a share from $2.40 by Stifel Nicolaus & Co., citing a November decline in brewer imports.

Hecla Mining Co. (HL US) slid 5.9 percent, the most since Nov. 9, to $5.73. The mining company bought the remaining 30 percent interest in the San Juan Silver project at Creede, Colorado for $33.8 million.

Hyperdynamics Corp. (HDY US) declined 19 percent, the most in the Russell 200 Index, to $2.16. The oil and gas exploration company said mechanical and operational issues have “curtailed” drilling activities at the Sabu-1 exploration well in Guinea.

Joy Global Inc. (JOY US) dropped 11 percent, the most since February 2009, to $75.44. The maker of P&H and Joy mining equipment projected that demand for commodities will remain slow in the near term.

Silicon Graphics International Corp. (SGI US) fell 18 percent to $11.48 for the second-biggest retreat in the Russell 2000 Index. The maker of computer servers said Chief Executive Officer Mark Barrenechea resigned to join a global enterprise software company as CEO. Chairman Ronald Verdoorn will serve as interim CEO.

--Editor: Stephen Kleege

AVP US CAT US SCHW US LNG US CVX US FSLR US FORM US GMCR US HL US HDY US JOY US SGI US

To contact the reporter on this story: Ksenia Galouchko in New York at kgalouchko1@bloomberg.net

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


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus