By Lu Wang
Bloomberg News Service
Shares of the following companies are having unusual moves in U.S. trading.
Commodity producers declined amid concern that rising global inflation will lead to higher interest rates. Freeport- McMoRan Copper & Gold Inc. (FCX US) slid 3.6 percent to $49.28. Exxon Mobil Corp. (XOM) lost 2.1 percent to $81.47. Helmerich & Payne Inc. (HP) retreated 3.9 percent to $58.49.
Alon USA Energy Inc. (ALJ) fell 12 percent to $11.96 for the biggest intraday decline since March 2009. The company’s Krotz Springs refinery will be affected if a spillway is opened amid the Mississippi River flooding, according to Lisa Vidrine, director of the St. Landry Parish office of emergency preparedness.
American International Group Inc. (AIG) gained 5.3 percent to $31.18 after climbing as much as 7.3 percent, the most intraday since Jan. 20. The bailed-out insurer and the U.S. Treasury will offer 300 million shares of common stock in AIG as the company seeks to replace government investment with private capital.
China Yuchai International Ltd. (CYD) plunged 16 percent, the most intraday since January 2009 to $26.43. China’s largest maker of diesel engines reported first-quarter sales of $645.5 million, trailing the estimate of $662 million by one analyst in a Bloomberg survey.
Conceptus Inc. (CPTS) fell 18 percent to $12.33 after sinking as much as 20 percent, the most intraday since July 9. The maker of a female-sterilization method reported a loss of 9 cents a share excluding some items in the first quarter, wider than the 4-cent loss estimate from analysts in a Bloomberg survey.
Ener1 Inc. (HEV) slipped 18 percent to $2.01 and tumbled to $1.90 earlier, the lowest intraday price since September 2007. The maker of electric-car batteries reported first-quarter sales that missed analysts’ estimates. Wunderlich Securities Inc. cut the stock’s rating to “sell” from “hold.”
Globecomm Systems Inc. (GCOM) rose 13 percent to $15.08 and rallied to $16 earlier, the highest intraday price since October 2007. The maker of satellite communications gear has hired JPMorgan Chase & Co. to advise on a possible sale, DealReporter said, citing two industry sources.
Intel Corp. (INTC) rose the most in the Dow Jones Industrial Average, climbing 2.1 percent to $23.51. The world’s largest chipmaker raised its dividend for the second time in six months as increasing corporate spending on technology boosts its earnings.
Intralinks Holdings Inc. (IL) slipped 33 percent to $20.12 and tumbled 34 percent earlier, the most intraday since it went public in August. The software maker forecast second- quarter profit excluding some items of 11 cents a share at most, trailing the 13-cent average analyst estimate in a Bloomberg survey.
Macy’s Inc. (M) rose the most in the Standard & Poor’s 500 Index, rallying 7.8 percent to $28.39. The second-biggest U.S. department-store chain boosted its 2011 profit forecast and doubling its dividend, bolstered by surging online sales.
Pegasystems Inc. (PEGA) advanced 9.2 percent to $40.14 and climbed to $41.50 earlier, the highest intraday price since it went public in July 1996. The developer of customer relationship management software reported first-quarter profit excluding some items of 25 cents a share, beating the average analyst estimate by 51 percent, Bloomberg data show.
Rovi Corp. (ROVI) jumped 21 percent to $60.33 and surged 22 percent earlier, the most intraday since May 2004. The maker of technology for home-entertainment systems said 2011 earnings excluding some items may be as high as $2.55 a share, more than the average analyst estimate of $2.36.
Stec Inc. (STEC) lost 16 percent to $16.89 and dropped 19 percent earlier, the most intraday since February 2010. The maker of flash-memory drives said profit excluding some items will be no more than 30 cents a share in the second quarter, compared with the average analyst estimate of 32 cents.
Valence Technology Inc. (VLNC) retreated 16 percent to $1.10 and slumped 18 percent earlier, the most intraday since December 2008. The maker of rechargeable lithium polymer batteries said Chief Financial Officer Ross Goolsby resigned to pursue other business opportunity.
Walt Disney Co. (DIS) slumped 3.6 percent to $42.33 for the biggest retreat in the Dow Jones Industrial Average. The world’s biggest theme-park operator reported lower second- quarter profit than analysts estimated as a shrinking box- office, park shortfall and the Japanese tsunami overshadowed gains in TV.
Zagg Inc. (ZAGG) gained 7.4 percent to $10.26 and climbed to $10.59 earlier, the highest intraday price since 2007. The distributor of electronics accessories increased its 2011 sales forecast to as much as $110 million. Analysts estimated an average $99.9 million in a Bloomberg survey.
