Bloomberg News

AIG, Multimedia Games, Navistar, Manpower: U.S. Equity Movers

February 01, 2012

Feb. 1 (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.

Amazon.com Inc. (AMZN US) sank 7.7 percent, the biggest drop in the Standard & Poor’s 500 Index, to $179.46. The world’s largest Internet retailer missed analysts’ fourth-quarter revenue estimates and reported a 57 percent decline in profit, dragged down by shipping costs and the money-losing Kindle Fire.

American International Group Inc. (AIG US) rallied 5.9 percent, the most since Dec. 20, to $26.60. Bruce Berkowitz, who oversees the largest non-government stake in the insurance company and a holding in Bank of America Corp., said the stocks in his flagship Fairholme Fund will rebound. Bank of America (BAC US) advanced 3.2 percent to $7.36.

Aspen Technology Inc. (AZPN US) rallied 13 percent to $20.28, the highest price since April 2002. The maker of software for oil and chemical companies reported earnings in the second-quarter of 6 cents a share, excluding some items, beating the average analyst estimate of a loss of 5 cents.

Broadcom Corp. (BRCM US) rose 8.1 percent, the most since July 26, to $37.13. The maker of chips that help mobile devices connect to the Internet forecast first-quarter sales that may exceed analysts’ estimates amid stronger demand for parts for Apple Inc.’s iPhone.

C.H. Robinson Worldwide Inc. (CHRW US) sank 7 percent, the second-biggest drop in the S&P 500, to $64.01. The transportation-services company reported fourth quarter earnings of 67 cents a share, missing the average analyst estimate of 68 cents.

Corinthian Colleges Inc. (COCO US) surged 36 percent, the biggest jump in the Russell 2000 Index, to $4.13. The for-profit operator of North American colleges and trade schools forecast earnings in 2012 to be at least 30 cents a share, exceeding the 24-cent average analyst estimate.

Cytec Industries Inc. (CYT US) jumped 15 percent, the most since July 2010, to $57.21. The maker of reinforced plastics used in airplanes said it hired JPMorgan Chase & Co. to review options for the “separation” of its coating resins business.

Dendreon Corp. (DNDN US) advanced 4.9 percent to $14.25, the biggest gain in a week. The maker of the prostate-cancer drug Provenge named John H. Johnson of Savient Pharmaceuticals Inc. (SVNT US) as chief executive officer and president, succeeding Mitchell H. Gold.

Savient tumbled 11 percent, the most since Aug. 4, to $2.26.

Fortinet Inc. (FTNT US) jumped 9.8 percent, the most since Oct. 25, to $25.04. The maker of network-security systems said fourth-quarter earnings excluding some items were 14 cents a share, exceeding the average analyst estimate of 12 cents.

Hudson Valley Holding Corp. (HVB US) tumbled 19 percent, the biggest drop in the Russell 2000 Index, to $17.79. The commercial-banking services provider reported fourth-quarter adjusted earnings of 27 cents a share, missing the average analyst estimate of 41 cents. The Yonkers, New York-based bank was cut to “hold” from “buy” at Stifel Nicolaus & Co.

IAC/InterActiveCorp. (IACI US) gained 6.3 percent to $45.78, the highest price since January 1993. The operator of Websites including Match.com and Ask.com reported fourth-quarter profit that topped analysts’ estimates as traffic increased for its search and online-dating sites.

JDA Software Group Inc. (JDAS US) fell 17 percent, the most since June 2010, to $24.39. The maker of software used to track goods sent to retailers’ shelves said it received a notice from the U.S. Securities and Exchange Commission requesting information related to revenue recognition and other accounting and financial reporting matters for past fiscal years.

Lynas Corp. (LYSCF US) surged 15 percent, the most since Sept. 27, to $1.64. Malaysia’s Atomic Energy Licensing Board granted the Sydney, Australia-based miner a temporary operating license to begin refining rare earths under certain conditions following public protests.

Manpower Inc. (MAN US) rose 14 percent to $45.86 for the second-biggest gain in the Russell 1000 Index. The provider of employment services in offices around the world said fourth- quarter earnings from continuing operations were 98 cents a share, beating the average analyst estimate of 87 cents.

Marathon Petroleum Corp. (MPC US) jumped 9.6 percent, the second-biggest gain in the S&P 500, to $41.88. The crude refiner that spun off from Marathon Oil Corp. (MRO US) reported a fourth-quarter loss of 21 cents a share, excluding some items, compared with an average analyst estimate of a loss of 5 cents.

Morgan Stanley (MS US) advanced 4 percent to $19.39, the highest price since Oct. 27. The owner of the world’s largest brokerage was chosen to take the lead on the planned initial public offering of Facebook Inc., according to three people with knowledge of the matter.

Multimedia Games Inc. (MGAM US) rallied the second-most in the Russell 2000 Index, advancing 35 percent to $10.16. The slot machine maker raised its 2012 earnings forecast to at least 42 cents a share, from as low as 23 cents.

Navistar International Corp. (NAV US) climbed 4.7 percent to $45.32, the highest price since Aug. 3. The maker of heavy- duty trucks issued an annual sales forecast range with a midpoint that topped analysts’ estimates and teamed with Clean Energy Fuels Corp. to offer natural-gas vehicles.

Quicksilver Resources Inc. (KWK US) sank 6 percent to $4.71, the lowest price since March 2009. The oil and natural gas producer announced a capital spending program of $370 million and said production volumes in 2012 will be about flat. The Fort Worth, Texas-based company was cut to “underperform” from “buy” at Bank of America Corp.

Sangamo BioSciences Inc. (SGMO US) gained 21 percent, the most since March 2009, to $4.19. The Richmond, California-based drug company was raised to “neutral” from “underweight” at Piper Jaffray Cos.

Seagate Technology Plc (STX US) advanced 21 percent, the most since Oct. 21, to $25.53. The world’s largest maker of computer disk drives forecast higher annual sales than analysts estimated.

Whirlpool Corp. (WHR US) rallied 13 percent, the most in the S&P 500, to $61.64. The world’s largest maker of household appliances forecast that it would earn at least $6.50 a share from continuing operations in 2012, compared with the $5.80 average of analyst estimates compiled by Bloomberg.

--With assistance from Inyoung Hwang and Katia Porzecanski 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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