Bloomberg News

Advanced Micro, Assurant, Intermune: U.S. Equity Movers

March 15, 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.

Advanced Micro Devices Inc. (AMD) gained 6.3 percent, the second-most in the Standard & Poor’s 500 index, to $8.25. The second-largest maker of processors for personal computers was moved to buy from hold at Jefferies & Co., which increased the 12-month price estimate to $10.50 from $7.

Alliance HealthCare Services Inc. (AIQ) surged 17 percent, the most since Dec. 30, to $1.62. The outpatient diagnostic-imaging company affirmed its 2012 sales may be as high as $500 million, beating the $482.7 million average estimate of three analysts surveyed by Bloomberg.

Aixtron SE (AIXG) rallied 17 percent to $19.15, the highest price since Sept. 14. The manufacturer of equipment for the semiconductor industry was raised to buy from hold at Deutsche Bank AG, citing “early indications of a recovery” in industry demand.

Assurant Inc. (AIZ) posted the largest decline in the S&P 500, erasing 3.1 percent to $40.85. The insurer of foreclosed properties fell after a California regulator directed insurers to lower their rates for clients who lapsed on their previous residential policies.

CSX Corp. (CSX) gained 8.5 percent, the most since April 2009, to $21.92. The biggest eastern-U.S. railroad said it expects record first-quarter earnings even with a decline of as much as 30 percent in domestic utility coal shipments.

Eagle Bulk Shipping Inc. (EGLE) dropped 11 percent, the most since Sept. 16, to $1.60. The world’s second-largest owner of supramax dry-bulk ships was cut to sell from hold at Cantor Fitzgerald LP.

Guess? Inc. (GES) (GES US) slid 10 percent, the most in the Russell 1000 Index, to $32.97. The clothing retailer forecast fiscal 2013 earnings of no more than $2.65 a share, below the average analyst estimate of $3.16 a share, according to a Bloomberg survey.

InterMune Inc. (ITMN) advanced 4.4 percent to $15.45, the highest price since Feb. 8. The Brisbane, California-based company’s lung-disease drug Esbriet offers an additional benefit, Germany’s Federal Joint Committee said.

Kit Digital Inc. (KITD) fell 8 percent to $8.51, the lowest price since Jan. 5. The provider of software for online video reported fourth quarter net income of 5 cents a share, missing the average analyst estimate by 66 percent, data compiled by Bloomberg show.

Level 3 Communications Inc. (LVLT) increased 6.7 percent to $26.60, the highest price since Oct. 31. The broadband- services provider was raised to buy from neutral at Bank of America Corp.

Morgan Stanley (MS) rose 4.9 percent, the most since Jan. 19, to $19.51. The owner of the world’s largest brokerage sued Sterling Stamos funds over $17.6 million in distributions, which it claims were withheld from a hedging affiliate that owned units in a liquidating trust set up by the money management firm.

Newcastle Investment Corp. (NCT) jumped 5.3 percent to $6.54, the highest price since March 22. The New York-based real estate investment trust said it raised quarterly dividend to 20 cents a share from 15 cents. The dividend is payable on April 30, to shareholders of record on March 26.

Rue21 Inc. (RUE) fell 5.6 percent, the most since Sept. 21, to $27.12. The teen specialty retailer forecast first- quarter earnings of 42 cents a share to 44 cents a share. That compares with the average analyst estimate of 44 cents a share, Bloomberg data show.

Scholastic Corp. (SCHL) surged 13 percent, the most since July 2009, to $36.36. The children’s book publisher boosted its full-year forecast, saying it now expects to earn at least $2.60 a share from continuing operations. The company had projected $2.10 at most.

Towerstream Corp. (TWER) gained the most in the Russell 2000 Index, adding 42 percent to $3.70. The Middletown, Rhode Island-based Internet services company forecast first-quarter revenue would be $7.6 million to $7.7 million, after saying fourth-quarter sales climbed 6 percent to $7.2 million, data compiled by Bloomberg show.

Vera Bradley Inc. (VRA) slipped 9.6 percent, the most since June 2, to $33.58. The seller of women’s fashion accessories forecast first-quarter earnings per share of no more than 29 cents, missing the average analyst estimate of 32 cents.

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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