Bloomberg News

Achillion, Aon, Cypress, Gentex: U.S. Equity Movers

April 19, 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.

Achillion Pharmaceuticals Inc. (ACHN:US) had the second- biggest decline in the Russell 2000 Index, sinking 13 percent to $8.30. The drug developer was cut to sell from neutral at UBS AG.

Boston Scientific Corp. (BSX:US) gained 5.6 percent, the most since Feb. 24, to $5.85. The second-largest heart-device maker by revenue reported first-quarter profit that exceeded analysts’ estimates for a 10th straight quarter, according to data compiled by Bloomberg.

CVR Energy Inc. (CVI:US) jumped 8.2 percent to $30.16, the highest price since at least October 2007. The owner of two oil refineries lifted a “poison pill” provision and agreed to allow investor Carl Icahn’s $30-a-share takeover offer that gained the support of a shareholder majority earlier this month.

Cypress Semiconductor Corp. (CY:US) rallied 12 percent, the most since October 2008, to $16. The San Jose, California-based maker of chips for hand held devices reported first-quarter profit that beat the average analyst estimate by 28 percent, according to data compiled by Bloomberg.

Danaher Corp. (DHR:US) fell 3.1 percent, the most since April 10, to $53. The maker of microscopes and water-treatment systems forecast second-quarter earnings excluding some items of 77 cents to 82 cents a share. The average analyst estimate was 82 cents.

EBay Inc. (EBAY:US) rose 13 percent, the biggest rally in the Standard & Poor’s 500 Index, to $40.62. The world’s largest Internet marketplace reported sales and profit that topped analysts’ estimates, led by growth in its PayPal online-payments business.

EMC Corp. (EMC:US) fell 3.6 percent, the most since Dec. 21, to $28.10. The world’s biggest maker of storage computers said it will “meet or potentially exceed” its prior full-year 2012 of profit excluding some items of $1.70 a share. Analysts, on average, estimated $1.75, according to a Bloomberg survey.

F5 Networks Inc. (FFIV:US) gained 7.8 percent, the most since Jan. 19, to $133.98. The software maker said annual revenue will climb at least 20 percent and said second-quarter adjusted earnings were $1.09 a share, exceeding the $1.07 average analyst projection. Revenue also beat estimates, data compiled by Bloomberg show.

First Horizon National Corp. (FHN:US) dropped 7.8 percent, the biggest drop in the Standard & Poor’s 500 Index, to $9.18. Tennessee’s biggest bank reported first-quarter profit of 12 cents a share, missing the average analyst estimate by 1 cent, according to Bloomberg data.

Gentex Corp. (GNTX:US) slid 16 percent, the biggest decline in the Russell 1000 Index, to $21.35. The maker of rear- and side-view mirrors that include camera displays forecast a 15 percent increase in second-quarter sales, trailing analysts’ estimates.

Gilead Sciences Inc. (GILD:US) surged 12 percent, the most since October 2008, to $52.25. The world’s largest HIV drugmaker said its experimental hepatitis C drug cleared the virus in 88 percent of patients four weeks after treatment ended in a study.

Houston American Energy Corp. (HUSA:US) slumped 36 percent to $2.25 for the biggest retreat in the Russell 2000 Index. The energy company said it will stop testing and completing two formations in the Tamandua #1 sidetrack well, citing damage while drilling. The company also said it’s under an investigation by the Securities and Exchange Commission.

Human Genome Sciences Inc. (HGSI:US) surged 98 percent, the biggest gain in the Russell 1000 Index, to $14.17. The drugmaker rejected an unsolicited offer from GlaxoSmithKline Plc (GSK) , its partner on the lupus treatment Benlysta, to buy the U.S. company for about $2.59 billion, or $13 a share. Anthera Pharmaceuticals Inc. (ANTH:US) , which is developing a treatment for lupus, increased 5.6 percent to $2.08.

Marriott International Inc. (MAR:US) rose 4.3 percent, the most since Nov. 30, to $39.45. The largest publicly traded U.S. hotel chain had first-quarter revenue that exceeded analyst projections and raised its 2012 earnings estimate to as much as $1.69 a share, compared with the $1.60 average forecast of analysts surveyed by Bloomberg.

Mellanox Technologies Ltd. (MLNX:US) surged 52 percent, the most since it went public in February 2007, to $65.91. The Israeli maker of technology used to transfer data quickly forecast second-quarter revenue exceeding analysts’ estimates.

Nucor Corp. (NUE:US) erased 5 percent, the most since Sept. 22, to $40.09, after. The largest U.S. steelmaker by market value said it sees “only a modest improvement” in second- quarter earnings, citing a deterioration in steel mill pricing and margin trends in the first quarter due to a resurgence in imports and increased competition from new domestic sheet mill supply.

Peabody Energy Corp. (BTU:US) rose 7 percent to $30.46, the highest price since March 22. The largest U.S. coal producer posted first-quarter earnings that beat analysts’ estimates after an increase in output and revenue per ton in Australia.

Qualcomm Inc. (QCOM:US) declined 6.6 percent, the most since Aug. 8, to $62.57. The largest maker of mobile-phone chips projected third-quarter sales and profit that fell short of analysts’ estimates as it increases spending to improve output of chips.

Rockwell Collins Inc. (COL:US) sank 4.8 percent, the most since Aug. 18, to $55.85. The maker of airplane cockpit instruments forecast revenue in 2012 will be about $4.85 billion, below an earlier projection of at least $4.9 billion and missing the average analyst estimate of $4.95 billion.

Splunk Inc. (SPLK:US) more than doubled to $35.48 on the first day of trading. The maker of software that helps companies analyze Web data raised $229.5 million after pricing its shares 70 percent above the originally proposed range in an initial public offering.

Stanley Black & Decker Inc. (SWK:US) fell 7.1 percent, the most since Aug. 8, to $72.91. The producer of power tools reported first-quarter earnings that trailed analysts’ estimates for the first time since 2008, according to data compiled by Bloomberg.

Travelers Cos. (TRV:US) added 3.8 percent, the most in the Dow Jones Industrial Average, to $61.70. The insurer said first- quarter profit beat analysts’ estimates as policy sales increased.

Tumi Holdings Inc. (TUMI:US) surged 47 percent to $26.50 on the first day of trading. The luggage maker owned by Doughty Hanson & Co. raised $338 million in its initial public offering, pricing higher than the proposed range.

To contact the reporter on this story: Inyoung Hwang in New York at ihwang7@bloomberg.net

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


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Companies Mentioned

  • ACHN
    (Achillion Pharmaceuticals Inc)
    • $12.27 USD
    • 0.70
    • 5.7%
  • BSX
    (Boston Scientific Corp)
    • $12.59 USD
    • -0.09
    • -0.71%
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