Bloomberg News

Achillion, BioLineRx, J&J Snack, Rubicon: U.S. Equity Movers

January 24, 2012

Jan. 24 (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.

Achillion Pharmaceuticals Inc. (ACHN US) rose 17 percent to $10.75, the second biggest increase in the Russell 2000 Index. The drug developer is a likely takeover target and the stock’s retreat since Jan. 13 offers “an attractive entry point” for investors, Piper Jaffray Cos. said in a note.

BioLineRx Ltd. (BLRX US) soared 69 percent to $5.55, the biggest gain since at least July. The Israeli company that develops therapeutic pharmaceutical drugs signed a deal with France’s Genoscience to develop and commercialize a treatment for Hepatitis C.

Bon-Ton Stores Inc. (BONT US) rallied 16 percent to $3.76 for the third-biggest gain in the Russell 2000 Index. The York, Pennsylvania-based fashion and accessory company said former Brendan L. Hoffman will be the president and chief executive officer beginning Feb. 7, replacing Bud Bergen, who will become chairman of the board. Hoffman is the former president and CEO of Lord & Taylor LLC.

Brinker International Inc. (EAT US) retreated 7.1 percent, the most since Aug. 8, to $25.66. The operator of the Chili’s restaurant chain reported second-quarter revenue of $681.9 million, missing the average analyst estimate of $686 million, according to data compiled by Bloomberg.

Coach Inc. (COH US) advanced 5.8 percent to $67.97, the highest price since its initial public offering in 2000. The largest U.S. luxury handbag maker reported a 15 percent increase in quarterly profit that topped analysts’ estimates, driven by holiday sales in North America.

Collective Brands Inc. (PSS US) rose 6.4 percent to $15.89, the highest price since May 24. The maker of Saucony and Sperry Top-Sider shoes, which said in August it was reviewing options to boost shareholder value, may attract interest from buyout firms and rivals such as Wolverine World Wide Inc. when bids are due next week, according to people familiar with the process. The company could be worth as much as $27 a share based on the value of its separate businesses, Morningstar Inc. said.

EMC Corp. (EMC US) gained 7.3 percent, the most since March 2009, to $25.14. The world’s biggest maker of storage computers reported a 32 percent gain in fourth-quarter earnings, helped by demand for its products and software from majority-owned VMware Inc. (VMW US).

VMware, the biggest maker of software that lets computers run multiple operating systems, jumped 7.7 percent to $92.66. The company reported sales and profit that topped estimates as corporations bought more programs to make servers more efficient.

InterDigital Inc. (IDCC US) dropped 19 percent, the most since August 2009, to $35.89. The King of Prussia, Pennsylvania- based owner of wireless-technology patents said it concluded a strategic review of options without a sale.

Jarden Corp. (JAH US) rose 10 percent, the most since October 2009, to $33.79. The maker of Crock-Pot slow cookers and Mr. Coffee brewers said it will accelerate stock buybacks.

J&J Snack Foods Corp. (JJSF US) fell 4.1 percent, the most since Nov. 9, to $50.06. The maker of SuperPretzels reported first-quarter earnings that trailed analysts’ estimates.

Kansas City Southern (KSU US) slid 7.6 percent, the most since Aug. 18, to $66.84. The railroad company reported fourth- quarter sales that trailed analysts’ estimates.

Polycom Inc. (PLCM US) surged 13 percent, the most since January 2011, to $20.85. The largest independent maker of videoconference systems reported fourth-quarter earnings excluding some items of 41 cents a share, exceeding the 29-cent average estimate by analysts.

Quest Diagnostics Inc. (DGX US) advanced 7.5 percent to $60.73, the highest price since June 22. The biggest U.S. operator of medical laboratories said fourth-quarter profit excluding some items was $1.23 a share, compared with the average analyst estimate of $1.06.

Rubicon Technology Inc. (RBCN US) fell 8.6 percent, the most since Oct. 17, to $12.07. The maker of crystalline products was cut to “hold” from “buy” at Kaufman Bros.

Travelers Cos. (TRV US) slipped 3.8 percent to $58 for the biggest retreat in the Dow Jones Industrial Average. The only insurer in the Dow average said fourth-quarter profit fell 31 percent on lower investment income and a smaller benefit from reserves.

Verizon Communications Inc. (VZ US) fell the most since Nov. 23, sinking 1.6 percent to $37.79. The second-largest U.S. phone company reported a fourth-quarter loss after booking a pension charge and having higher subsidy costs for rising iPhone sales.

Waters Corp. (WAT US) rose 8 percent, the most since April 26, to $85.04. The maker of laboratory products and instruments reported fourth-quarter profit and sales that beat analysts’ estimates.

Western Digital Corp. (WDC US) gained 6.3 percent, the most since Dec. 2, to $36.88. The U.S. maker of disk drives and networking products reported second-quarter revenue of $2 billion, surpassing the average analyst estimate of $1.84 billion.

Zions Bancorporation (ZION US) had the biggest loss in the S&P 500, falling 7.6 percent to $17.15. The Salt Lake City-based bank was cut to “hold” from “buy” at Stifel Nicolaus & Co. after reporting fourth-quarter earnings that missed the average analyst estimate.

--With assistance from Katia Porzecanski, Inyoung Hwang and Lu Wang in New York. Editors: Stephen Kleege, Joanna Ossinger

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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