Markets & Finance

Stocks on the Move: BofA, Citigroup, Comcast


Plus more stocks making headlines in Thursday's market

By Nikolaj Gammeltoft

Dec. 3 (Bloomberg) -- Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 9:35 a.m. in New York.

Abercrombie & Fitch Co. (ANF) fell 3.1 percent to $38.66. The U.S. teen-apparel retailer reported a 17 percent decline in same-store sales for the four-week period ended Nov. 28 compared with the same period last year.

Other retailers dropped on declining November sales. Macy's Inc. (M) lost 3 percent to $15.81 after comparable sales last month fell 6.1 percent. Children's Place Retail Stores Inc. (PLCE) tumbled 11 percent to $28.11.

Assured Guaranty Ltd. (AGO) rose 1.7 percent to $22.32. The municipal-bond insurer backed by investor Wilbur Ross was raised to "buy" from "neutral" at UBS AG after the company said last month it is selling as many as 27.5 million shares to meet capital requirements set by ratings companies.

Bank of America Corp. (BAC) added 5.6 percent to $16.52. The nation's biggest lender will repay $45 billion of U.S. government bailout funds, helping free the bank from curbs on executive pay that have hampered its search for a new leader.

Citigroup Inc. (C), recipient of a $45 billion government bailout last year, added 2.2 percent to $4.19.

Collective Brands Inc. (PSS) jumped 6.6 percent to $21.50. The owner of the Payless ShoeSource chain reported profit excluding some items of 61 cents a share in the third quarter, 23 percent higher than the average analyst estimate, according to Bloomberg data.

Comcast Corp. (CMCSA) rose 4.4 percent to $15.60. The largest U.S. cable-television company agreed to buy a majority stake in NBC Universal through a venture with General Electric Co. (GE) that values the entertainment company at about $37 billion. GE added 1 percent to $16.16.

Cubist Pharmaceuticals Inc. (CBST) fell 3.6 percent to $17.91. The drugmaker suspending tests of an experimental heart surgery drug after patients taking the medicine in a study died at a higher rate than those who didn't.

SeaChange International Inc. (SEAC) rose 6.4 percent to $6.20. The provider of digital video systems said that, excluding some items, it expects to earn at least 9 cents a share in the fourth quarter. That exceeded the 8-cent average estimate from analysts in a Bloomberg survey.

Sigma Designs Inc. (SIGM) dropped 12 percent to $10.19. The maker of processors for Internet television set-top boxes and Blu-ray video players posted earnings excluding some items of 9 cents a share in the third quarter, missing the average analyst estimate by 53 percent, according to Bloomberg data.

Synopsys Inc. (SNPS) fell 4.3 percent to $21.56. The maker of programs that help engineers design semiconductors forecast profit excluding some items of as much as 40 cents a share in the fiscal first quarter. That's short of the 41-cent average estimate from analysts in a Bloomberg survey.

Toll Brothers Inc. (TOL) fell 4.8 percent to $18.55. The largest U.S. luxury-home builder reported a bigger-than-expected loss in the fourth quarter after revenue fell faster than costs.

To contact the reporter on this story: Nikolaj Gammeltoft in New York at ngammeltoft@bloomberg.net


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