Bloomberg News

Coleman, Diamond Foods, Safe Bulkers: U.S. Equity Movers

March 13, 2012

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.

Banks advanced after JPMorgan Chase & Co. (JPM) raised its dividend and said it would buy back more shares, with no objection from the Federal Reserve. JPMorgan (JPM US) rose 7 percent to $43.39 for the biggest gain in the Dow Jones Industrial Average. Citigroup Inc. (C) increased 6.3 percent to $36.45; Wells Fargo & Co. (WFC) gained 5.8 percent to $33.33; Bank of America Corp. (BAC US) advanced 6.3 percent to $8.49.

Metlife Inc. (MET) , the insurer waiting for a ruling from the Federal Reserve on its capital plan, rose 4.7 percent to $39.46.

Alliant Techsystems Inc. (ATK) fell 6.2 percent, the most since Aug. 10, to $54.03. The world’s largest ammunition maker was cut to “underperform” from “sector perform” at RBC Capital Markets. The company earlier forecast 2013 earnings per share of no more than $6.30, less than the average analyst estimate of $7.17.

BioCryst Pharmaceuticals Inc. (BCRX) decreased 5.2 percent, the most since Feb. 14, to $5.26. The drugmaker will initiate a process at the U.S. Patent & Trademark Office to correct an “apparent error,” according to a regulatory filing. BioCryst said that a patent for a hepatitis C inhibitor it discovered was issued to Biota Holdings Ltd. (BTA AU).

Carmike Cinemas Inc. (CKEC) gained 17 percent, the most since Aug. 9, to $10.67. The fourth-largest U.S. theater chain posted fourth-quarter revenue that exceeded the average analyst projection, data compiled by Bloomberg show.

Coleman Cable Inc. (CCIX) dropped the most in the Russell 2000 Index, retreating 20 percent to $10.35. The maker of electrical wires and cables said that, excluding some items, it expects to earn 27 cents a share in the first quarter. Analysts, on average, estimated 32 cents, according to a Bloomberg Survey.

Cornerstone Therapeutics Inc. (CRTX) increased 8.8 percent, the most since Dec. 14, to $6.17. The biopharmaceutical company specializing in respiratory treatments had a new drug application for its hyponatremia product CRTX 080 accepted by the Food and Drug Administration.

Diamond Foods Inc. (DMND) rose 4.8 percent, the most since Feb. 15, to $25.70. The seller of Emerald snack nuts and Pop Secret popcorn retained Dean Bradley Osborne Partners LLC as financial adviser to strengthen its balance sheet as a planned earnings restatement threatens to violate some of its debt agreements.

FactSet Research Systems Inc. (FDS) advanced 8.6 percent, the most since February 2009, to $98.66. The Norwalk, Connecticut-based financial-data supplier reported second- quarter profit and sales that exceeded analysts’ estimates.

Great Wolf Resorts Inc. (WOLF) surged 27 percent, the most since September 2008, to $5.32. The operator of indoor water parks agreed to be bought by Apollo Global Management for $5 a share, or about $703 million.

Majesco Entertainment Co. (COOL) dropped 14 percent, the most since Jan. 18, to $2.56. The video game publisher said fiscal 2012 adjusted earnings may be 25 cents to 35 cents a share. Analysts project 35 cents a share on average, data compiled by Bloomberg show.

Midas Inc. (MDS) surged 27 percent, the most since December 2008, to $11.44. The operator of car-service shops agreed to be acquired by tire supplier TBC Corp. for $11.50 per share.

Safe Bulkers Inc. (SB) tumbled 9.1 percent, the most since Aug. 8, to $6.50. The provider of marine dry-bulk transportation services said it’s offering to sell 5 million shares at $6.50 each.

Urban Outfitters Inc. (URBN) fell 5.3 percent, the most in the Standard & Poor’s 500 Index, to $27.95. The operator of its namesake, Anthropologie and Free People brands reported fourth-quarter earnings that missed the average analyst estimate.

Vaalco Energy Inc. (EGY) increased 16 percent, the most since Feb. 15, to $8.69. The Houston-based oil company posted fourth-quarter adjusted earnings of 15 cents a share, missing the average of analyst estimates compiled by Bloomberg by 46 percent.

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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