Bloomberg News

Callaway, Cray, Goodyear, TripAdvisor: U.S. Equity Movers

April 27, 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.

A123 Systems Inc. (AONE:US) surged 17 percent to $1.12, the highest price since March 30. The U.S. maker of lithium-ion batteries for electric vehicles is providing systems for a U.S. Army prototype, Truck Trend reported yesterday on its website.

Allscripts Healthcare Solutions Inc. (MDRX:US) plunged 36 percent, the most in the Russell 1000 Index, to $10.30. The maker of clinical software slashed its earnings forecast for 2012 to no more than 80 cents a share from a previous projection of at least $1.06. Chief Financial Officer Bill Davis will leave the company effective May 18, and three board directors resigned after disagreeing with a decision to terminate Chairman Phil Pead.

Amazon.com Inc. (AMZN:US) surged 16 percent, the most since October 2009, to $226.85. The world’s largest Internet retailer beat analysts’ first-quarter revenue estimates, led by demand for Kindle devices and a jump in sales for outside vendors through its website.

Callaway Golf Co. (ELY:US) slumped 14 percent, the most since June 2009, to $5.98. The maker of golf clubs reduced its first-half sales forecast and suspended its full-year projections.

Constant Contact Inc. (CTCT:US) sank 12 percent, the most since its initial public offering in October 2007, to $24.98. The provider of e-mail marketing services forecast second- quarter earnings of no more than 15 cents a share, falling short of the average analyst estimate by 4 cents.

Coventry Health Care Inc. (CVH:US) slid 8 percent, the most since March 2009, to $30.08. The health insurer reported first- quarter profit of 62 cents a share, missing the average analyst estimate by 6.8 percent, according to data compiled by Bloomberg.

Cray Inc. (CRAY:US) rallied 28 percent to $11.38, the highest price since May 2007. The Seattle-based maker of supercomputers forecast second-quarter revenue of $85 million, beating the average analyst estimate of $54 million in a Bloomberg survey.

Deckers Outdoor Corp. (DECK:US) dropped 25 percent, the most since 1999, to $52.83. The maker of Ugg boots and Teva sandals posted a first-quarter profit of 20 cents a share, missing the average analyst estimate of 25 cents.

Expedia Inc. (EXPE:US) climbed 24 percent to $40.31 for the biggest increase in the S&P 500. The online travel agency reported first-quarter earnings excluding some items of 26 cents a share, exceeding the 14-cent profit projected by analysts on average.

TripAdvisor Inc. (TRIP:US) , an online travel-recommendation service spun off from Expedia, gained 7.2 percent to $36.87. Priceline.com Inc. (PCLN:US) increased 3.9 percent to $762.13.

Goodyear Tire & Rubber Co. (GT:US) fell 5.1 percent, the most since Feb. 14, to $11.32. The largest U.S. tiremaker cut a forecast for global growth in the tire industry.

InterMune Inc. (ITMN:US) tumbled 17 percent to $10.32, the lowest price since August 2010. The biotechnology company reported a wider first-quarter loss than analysts estimated. JMP Securities LLC cut the stock to market perform from market outperform, meaning the stock’s return will be in line with the market over the next 12 months.

Jazz Pharmaceuticals Plc (JAZZ:US) rose 14 percent, the most since July 29, to $51.72. The maker of narcolepsy drug Xyrem agreed to buy EUSA Pharma Inc. for $650 million to add to its specialty therapies, including a leukemia drug.

Leggett & Platt Inc. (LEG:US) declined 7.1 percent, the most since Aug. 8, to $21.99. The maker of lumbar supports for car seats reported first-quarter profit that missed analysts’ estimates and said it will issue as many as 3 million shares this year.

Maxwell Technologies Inc. (MXWL:US) fell the most in the Russell 2000 Index, plunging 39 percent to $9.60. The maker of electronic components said it expects second-quarter sales to increase 7 percent at most from $39.2 million in the first three months of the year, or equivalent of $41.9 million. Analysts, on average, estimated $46.8 million, according to a Bloomberg survey.

Pozen Inc. (POZN:US) slumped 19 percent, the msot since October 2008, to $6.24. The Food and Drug Administration suggested the pharmaceutical company seek approval for a lower dose formulation for its PA32540 product. Pozen “believes that the FDA is concerned that, without a formulation containing a lower dose of aspirin, physicians will not have a full range of dosing options available,” according to a filing.

Principal Financial Group Inc. (PFG:US) fell 5.1 percent, the most since Dec. 8, to $27.69. The seller of life insurance and 401(k) products reported first-quarter profit and sales that trailed analysts’ estimates.

Procter & Gamble Co. (PG:US) fell 3.6 percent to $64.44 for the biggest loss in the Dow Jones Industrial Average. The world’s largest consumer-products company reduced its full-year earnings forecast amid higher costs for raw materials.

Republic Services Inc. (RSG:US) fell 13 percent, the most since 1999, to $27.01. The waste hauler slashed its full-year forecast, saying it will earn $1.90 a share at most. Analysts, on average, estimated $2.01, according to a Bloomberg survey.

Seagate Technology Plc (STX:US) decreased 4.9 percent to $29.58 for its biggest loss since April 5. The world’s largest maker of computer disk drives reported a $2.5 billion share buyback, funded with cash. The company was cut to neutral from buy at Bank of America Corp. and to hold from buy at Craig- Hallum Capital Group LLC.

Starbucks Corp. (SBUX:US) declined 5.3 percent, the most since Aug. 18, to $57.43. The world’s largest coffee-shop chain reported second-quarter same-store sales that trailed analysts’ estimates amid weaker demand in Europe.

TeleCommunication Systems Inc. (TSYS:US) plunged 22 percent, the most since September 2001, to $2.11. The Annapolis, Maryland-based network applications company said it is evaluating potential impairment of assets associated with its 2009 acquisition of Networks in Motion after receiving notice from a customer that it intends to adjust pricing for services.

Warner Chilcott Plc (WCRX:US) rallied 8 percent to $18.79, the lowest price since Aug. 3. Bayer AG (BAYN GR) may offer to buy the pharmaceutical company focused on women’s health care for $32 a share, the Times of London reported, without saying where it got the information.

Western Digital Corp. (WDC:US) plunged 14 percent, the most sicne July 2004, to $37.93. The maker of disk drives and networking products was cut to hold from buy at Craig-Hallum Capital Group LLC.

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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Companies Mentioned

  • MDRX
    (Allscripts Healthcare Solutions Inc)
    • $14.14 USD
    • -0.20
    • -1.45%
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