Bloomberg News

Best Buy, Halozyme, Rick’s, X-Rite: U.S. Equity Movers

April 10, 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.

ArQule Inc. (ARQL:US) fell 8.8 percent, the most since Oct. 3, to $7.46. The developer of cancer therapies said it plans to sell 6 million shares in a public offering.

Best Buy Co. (BBY:US) fell 5.9 percent to $21.32, the lowest price since December 2008. The world’s largest electronics retailer said Chief Executive Officer Brian Dunn would resign and board member G. Mike Mikan would take the position on an interim basis. The change was a “mutual agreement” that new leadership was needed, the company said today in a statement.

DFC Global Corp. (DLLR:US) fell 6 percent, the most since Nov. 16, to $16.53. The provider of check-cashing services and consumer loans said it plans a private offering of $200 million in senior convertible notes due 2017.

Extreme Networks Inc. (EXTR:US) rose 5.3 percent to $4, the highest price since Feb. 18. The maker of Ethernet switching equipment for data networks gained after Craig-Hallum Capital Group gave the stock a buy rating, saying the company’s profitability would jump.

Halozyme Therapeutics Inc. (HALO:US) declined 13 percent, the most since June 2009, to $10.63. The San Diego-based biopharmaceutical company was cut to hold from buy at Jefferies Group Inc.

Harmonic Inc. (HLIT:US) declined 4.2 percent to $4.75, the lowest price since Nov. 25. The provider of video-delivery systems said first-quarter earnings were no more than 3 cents a share, missing the average analyst estimate of 9 cents.

Rick’s Cabaret International Inc. (RICK:US) increased 3.3 percent to $9.62, the highest price since Feb. 17. The owner of adult nightclubs said second-quarter same-store sales rose 7.8 percent and revenue was $25 million, exceeding the $24.6 million estimate of Brean Murray Carret & Co.

Supervalu Inc. (SVU:US) rose 15 percent, the most since April 2011, to $6.13. The supermarket and pharmacy chain forecast 2013 earnings excluding some items of at least $1.27 a share, beating the average analyst forecast of $1.19.

Tenet Healthcare Corp. (THC:US) fell 1.8 percent to $5.02, the lowest price since Jan. 18. The hospital operator agreed to pay $42.8 million to settle claims that it overbilled the federal Medicare system at 25 facilities from 2005 to 2007, the company and U.S. Justice Department said.

ViroPharma Inc. (VPHM:US) sank 22 percent, the most since February 2009, to $22.44. Akorn Inc. (AKRX:US) began shipping a generic version of the biopharmaceutical company’s Vancocin treatment for clostridium difficile-associated diarrhea.

X-Rite Inc. (XRIT:US) surged the most in the Russell 2000 Index, adding 39 percent to $5.54. Danaher Corp. (DHR:US) agreed to buy the Grand Rapids, Michigan-based provider of color- measurement technology for $625 million, or $5.55 a share. Danaher fell 3.2 percent to $52.83.

To contact the reporter on this story: Joseph Ciolli in New York at

To contact the editor responsible for this story: Nick Baker at

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Companies Mentioned

  • ARQL
    (ArQule Inc)
    • $1.15 USD
    • -0.01
    • -0.87%
  • BBY
    (Best Buy Co Inc)
    • $37.47 USD
    • 1.70
    • 4.54%
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