Bloomberg News

Acura, ATP, Overstock.com, Sara Lee, Shutterfly, Yelp: U.S. Equity Movers

March 02, 2012

Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 2 p.m. in New York.

Acura Pharmaceuticals Inc. (ACUR) advanced 6 percent, the most since Feb. 13, to $3.38. Tests showed a nasal decongestant made by Acura, which develops technology to deter drug abuse, can’t be converted into the illicit substance methamphetamine.

Alaska Communications Systems Group Inc. (ALSK) rose 8.1 percent, the most since Nov. 11, to $3.34. The Anchorage, Alaska-based telephone company reported fourth-quarter earnings of 5 cents a share, beating the average analyst estimate of 4 cents.

Amerisafe Inc. (AMSF) rallied 4.9 percent, the most since Nov. 28, to $23.48. The workers’ compensation insurer for industries including construction and logging said sales are rebounding as prices increase for coverage.

Ascena Retail Group Inc. (ASNA) (ASNA US) rose 5.5 percent, the most since Jan. 5, to $41.09. The women’s apparel retailer forecast profit this year of at least $2.75 a share, above the average analyst estimate of $2.67.

ATP Oil & Gas Corp. (ATPG) (ATPG US) surged 7.1 percent to $8.61, the highest price since Nov. 8. The energy explorer said its Mississippi Canyon well produced more than 7,000 barrels of oil equivalent per day.

Esterline Technologies Corp. (ESL) added 7.3 percent, the most since Oct. 27, to $68.87. The aerospace and defense parts supplier raised its forecast for 2012 earnings to between $5.10 and $5.40 a share, from $5 to $5.30 previously.

Exelis Inc. (XLS) (XLS US) gained 6.7 percent to $11.38, the highest price since Nov. 4. The defense and information services company spun off from ITT Corp. forecast 2012 earnings of at least $1.80 a share, higher than the average estimate of $1.59 from two analysts in a Bloomberg survey.

Fusion-io Inc. (FIO) (FIO US) had the second-biggest gain in the Russell 1000 Index, advancing 8.6 percent to $32.25. Morgan Stanley resumed coverage of the developer of flash-memory technology with an overweight rating, meaning the stock will outperform its peers over the next 12 to 18 months.

Motricity Inc. (MOTR) slid 9.9 percent to $1.19, the lowest price since Feb. 2. The provider of mobile-data services reported a loss of 14 cents a share in the fourth quarter, wider than the average analyst estimate of a loss of 10 cents.

Overstock.com Inc. (OSTK) slumped 11 percent, the most since July 28, to $6.11. The online discount retailer reported fourth-quarter sales of $314.1 million, trailing the average estimate of $377.5 million from two analysts in a Bloomberg survey.

Sara Lee Corp. (SLE) rose 7.1 percent, the most since October 2010, to $21.83. The company said it’s spinning off a coffee-and-tea division.

Shutterfly Inc. (SFLY) rallied 17 percent, the most in the Russell 2000 Index, to $31.36. The company agreed to buy Kodak Gallery, an online photo service with more than 75 million users, for $23.8 million.

U.S. Auto Parts Network Inc. (PRTS) dropped 19 percent, the most since Nov. 9, to $4. The online seller of car parts reported a wider-than-estimated loss, excluding some items, in the fourth quarter.

Wynn Resorts Ltd. (WYNN) gained 4.3 percent to $127.27, the highest price since Nov. 15. The casino operator retracted a filing suggesting it completed a land concession contract on a proposed resort in the Cotai area of Macau.

Yelp Inc. (YELP) (YELP US) soared 64 percent to $24.58 on the first day of trading. The site that lets users review everything from diners to dentists raised $107.3 million in its initial public offering, pricing the shares above the marketed price range.

To contact the reporter on this story: Katia Porzecanski in New York at kporzecansk1@bloomberg.net

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


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