Bloomberg News

Ignite, Monster Worldwide, Netflix: U.S. Equity Movers

May 11, 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. New York time.

Alere Inc. (ALR:US) fell 15 percent, the most since June 2010, to $19.02 The maker of medical diagnostics equipment received a subpoena from the Department of Health and Human Services related to quality testing and performance characteristics on Alere Triage products.

American Public Education Inc. (APEI:US) declined 12 percent to $28.09, the lowest price since November 2010. The operator of the American Military University forecast profit in the second quarter will be no more than 47 cents a share, falling short of the average analyst estimate by 4 cents.

Amtech Systems Inc. (ASYS:US) tumbled 21 percent to $5.40, the lowest price since November 2009. The maker of products for manufacturing computer chips and solar cells forecast third- quarter sales of $20 million at most, trailing the average analyst estimate of $27.2 million in a Bloomberg survey.

Arena Pharmaceuticals Inc. (ARNA:US) rallied 74 percent, the most since it went public in July 2000, to $6.36. The drugmaker’s weight-loss pill gained the backing of an advisory panel, putting two obesity drugs in line for U.S. approval almost two years after regulators rejected them as too risky. The Food and Drug Administration advisers voted 18-4 yesterday that the benefits of Arena’s pill, known as lorcaserin, outweigh the risks.

Vivus Inc. (VVUS:US) increased 8.9 percent to $24.70, and Orexigen Therapeutics Inc. (OREX:US) gained 19 percent to $3.99. The companies are also seeking approval for weight loss pills.

AVG Technologies NV (AVG:US) rose 10 percent, the most since it went public in February, to $14.13. The provider of antivirus and Internet security products boosted its full-year sales forecast.

Career Education Corp. (CECO:US) declined 11 percent to $6.21 the lowest price since June 2000. The for-profit college’s total enrollment, which fell 18 percent in the first quarter from a year earlier, was “disappointing,” according to BMO Capital Markets.

Education Management Corp. (EDMC:US) fell 8 percent to $9.72.

Chesapeake Energy Corp. (CHK:US) slumped 14 percent, the most in the Standard & Poor’s 500 Index, 14.81. The oil and natural gas producer may delay some of the $14 billion in asset sales planned for this year as low natural-gas prices erode cash flow required to comply with credit covenants, the company said in a filing today.

Dillard’s Inc. (DDS:US) rose 6.4 percent to $70.43, the highest price since at least 1980. The Arkansas-based department-store chain reported first-quarter earnings excluding some items of $1.90 a share, beating the $1.67 average estimate of two analysts.

Greenway Medical Technologies Inc. (GWAY:US) advanced 26 percent, the most since Feb. 2, to $15.54. The developer of software for health-care providers reported third-quarter profit that beat the average analyst estimate in a Bloomberg survey.

Harley-Davidson Inc. (HOG:US) slipped 3.7 percent, the most sicne Dec. 13, to $48.79. The biggest U.S. motorcycle maker declined after Gregory Badishkanian, an analyst at Citigroup Inc., said some investors may view the company’s sales deceleration negatively.

Ignite Restaurant Group Inc. (IRG:US) surged 22 percent to $17.13. The owner of the Joe’s Crab Shack seafood chain surged in its first day of trading after raising $81 million in a U.S. initial public offering.

Intersections Inc. (INTX:US) climbed 14 percent, the most since Nov. 11, to $12.89. The provider of credit management and identity protection reported first-quarter profit that exceeded analysts’ estimates.

JPMorgan Chase & Co. (JPM:US) fell 9.3 percent to $36.96 for the second-biggest retreat in the Standard & Poor’s 500 Index. The largest U.S. bank by assets suffered a $2 billion trading loss after an “egregious” failure in a unit managing risks, Chief Executive Officer Jamie Dimon said. The loss jeopardizes Wall Street banks’ efforts to loosen a federal ban on bets with their own money.

Citigroup Inc. (C:US) declined 4.2 percent to $29.35. Morgan Stanley (MS:US) slipped 4.2 percent to $14.95. Goldman Sachs Group Inc. (GS:US) retreated 3.9 percent to $102.13.

Kemet Corp. (KEM:US) retreated 19 percent, the most since January 2009, to $6.06. The supplier of components for electronics makers was cut to underperform from buy at Bank of America Corp. (BAC:US)

MBIA Inc. (MBI:US) fell 4.6 percent, the most since April 10, to $9.37. The bond insurer’s adjusted book value fell to $32 a share on March 31 from $34.50 a share on Dec. 31.

Leap Wireless International Inc. (LEAP:US) rose 7.8 percent to $5.78, the highest price since April 27. AT&T Inc. (T:US) has held talks to buy the pay-as-you-go wireless carrier, Reuters reported, citing unidentified people familiar with the situation. AT&T gained 1.4 percent to $33.59.

McDermott International Inc. (MDR:US) rallied 15 percent, the most since March 2009, to $11.37. The offshore oil and gas contractor was raised to buy from hold at BB&T Capital Markets after reporting first-quarter earnings that exceeded the average analyst projection, according to data compiled by Bloomberg.

Monster Worldwide Inc. (MWW:US) surged 19 percent, the most since Aug. 30, to $9.33. Reuters reported that LinkedIn Corp. (LNKD US) and private-equity firm Silver Lake Partners have expressed interest in a possible deal involving the online job- search site.

Netflix Inc. (NFLX:US) climbed 6.9 percent, the most since Jan. 26, to $77.38. Jay Hoag, a director, bought 200,000 shares of the online and mail-order video-rental service.

Nordstrom Inc. (JWN:US) dropped 4.8 percent, the most since Aug. 18, to $50.96. The U.S. chain with more than 100 namesake department stores posted first-quarter profit that trailed analysts’ estimates as expenses for e-commerce investments increased.

Nvidia Corp. (NVDA:US) had the second-biggest gain in the S&P 500, climbing 6.4 percent to $13.21. The maker of graphics processors predicted second-quarter sales that exceeded analysts’ estimates, bolstered by demand for its new graphics chips and mobile-phone processors.

Prolor Biotech Inc. (PBTH:US) declined 7.9 percent, the most since Feb. 21, to $5.24. The developer of therapeutic proteins said it priced an offering of 6.5 million shares at $5 each.

Renesola Ltd. (SOL:US) increased 3.4 percent to $1.85, the highest price since April 17. The Chinese maker of solar products said second-quarter revenue would be at least $200 million, compared with the $181.4 million average projection of analysts surveyed by Bloomberg.

Roundy’s Inc. (RNDY:US) fell 17 percent, the most since it went public in February, to $10.14. The grocery-store chain was cut to neutral from outperform at Robert W. Baird & Co.

Wave Systems Corp. (WAVX:US) slumped 8.9 percent to $1.13, the lowest price since November 2009. The provider of products to help businesses with online commerce and security reported a wider first-quarter loss than analysts estimated.

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

  • ALR
    (Alere Inc)
    • $39.89 USD
    • 0.09
    • 0.23%
  • APEI
    (American Public Education Inc)
    • $33.6 USD
    • -0.54
    • -1.61%
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