CBRE Realty, Ford, General Motors, Genesco: U.S. Equity Movers
By Aaron Clark
March 13 (Bloomberg) — The following is a list of companies
whose shares are having unusual price changes in U.S. markets.
Stock symbols are in parentheses after company names, and prices
are as of 1:10 p.m. in New York unless stated otherwise.
Gold producers rallied after prices of the metal rose above
$1,000 an ounce for the first time. Aurizon Mines Ltd. (AZK US)
added 6.4 percent to $4.82. Iamgold Corp. (IAG US) increased 5.4
percent to $8.22. Gammon Gold Inc. (GRS US) advanced 8.4 percent to
$10.31. Great Basin Gold Ltd. (GBN US) climbed 7.4 percent to
$3.77.
Aixtron AG American depositary receipts (AIXG US) rose the
most since Nov. 7, rising 9.3 percent to $13.04. The German
semiconductor-equipment maker said it plans to pay a dividend and
forecast sales and operating profit to grow this year.
Akeena Solar Inc. (AKNS US) slipped the most since Jan. 15,
falling 12 percent to $5.97. The company, which designs and
installs rooftop solar power panels, said its fourth-quarter loss
widened to 18 cents a share from 7 cents as it opened new sales
offices.
Anixter International Inc. (AXE US) had the biggest drop since
Aug. 9, slumping 6.4 percent to $62.02. The distributor of wire for
cable and electrical networks was cut to “neutral from “buy
at Merrill Lynch %26amp; Co.
Anworth Mortgage Asset Corp. (ANH US) declined 7.7 percent to
$5.55, the lowest since March 6. The Santa Monica, California-based
real estate investment trust said its fourth-quarter loss widened
to 15 cents a share from 9 cents a year earlier.
American International Group Inc. (AIG US) fell 4.4 percent to
$41.70, the lowest since October 1998. Morgan Stanley predicted
losses linked to credit-default swaps may total $3 billion for
worlds largest insurer by assets. The brokerage cut its
recommendation on AIG to “equal-weight from “overweight and
said if the “fixed income crisis deepens the losses could lead
to a capital shortfall.
Aspect Medical Systems Inc. (ASPM US) dropped the most since
its January 2000 initial public offering, sliding 39 percent to
$6.28. The companys device thats used by 60 percent of hospitals
to monitor patients for consciousness during surgery didnt reduce
such occurrences or help tailor doses of anesthesia, according to a
study in the New England Journal of Medicine.
Bear Stearns Cos. (BSC US) slipped the most in the Standard %26amp;
Poors 500 Index, dropping 13 percent to $53.76. Shares of the
second-largest underwriter of mortgage-backed bonds fell on concern
the company lacks sufficient access to capital. Traders have been
reluctant to engage in long-term transactions such as credit-
default swaps with Bear Stearns as the counterparty, the Wall
Street Journal reported.
CBRE Realty Finance Inc. (CBF US) fell 9.8 percent to $3.77,
the most since March 6. The commercial real estate finance company
reported a fourth quarter loss of 59 cents a share, which included
a $19.7 million provision for loan losses.
Cornell Cos. (CRN US) jumped 13 percent to $18.32 for the
biggest jump since April 2003. The provider of prison services
predicted first-quarter profit will be 24 percent higher than the
average analyst estimate, according to Bloomberg data.
Genesco Inc. (GCO US) gained 12 percent to $22.22, its biggest
advance since Dec. 28. The Nashville, Tennessee-based shoe and
clothing retailer said its board authorized a buyback of as much as
$100 million of stock.
General Motors Corp. (GM US) dropped the most in the Dow Jones
Industrial Average, sliding 5.2 percent to $19.85. Morgan Stanley
analyst Jonathan Steinmetz cut his price target on the worlds
largest automaker by 10 percent on concern that slowing U.S. sales
will hurt profit.
The analyst also said Ford Motor Co. (F US), the second-
biggest U.S.-based automaker, will have a wider loss in 2008 than
he previously estimated. Ford declined 6.5 percent to $5.33, the
most since 1985.
GSI Commerce Inc. (GSIC US) gained for a third day, rising 5.8
percent to $12.03. The King of Prussia, Pennsylvania-based builder
of e-commerce Web sites was raised to “buy from “hold by
analyst Ross Macmillan at Jefferies %26amp; Co.
Humana Inc. (HUM US) gained the most in the Standard %26amp; Poors
500 Index, climbing 11 percent to $45.32. The health-insurance
company was raised to “neutral from “sell by analyst Justin
Lake at UBS AG.
National Atlantic Holdings Corp. (NAHC US) gained 9.9 percent
to $6, the highest since Nov. 14. The company, which provides
automobile insurance in New Jersey, agreed to be bought by
Palisades Safety and Insurance Association for $6.25 a share.
Sigma Designs Inc. (SIGM US) fell 15 percent to $21.47, the
lowest since January 2007. The maker of chips for Internet
television set-top boxes and Blu-ray video players said that,
excluding some items, it earned 80 cents a share in the fourth
quarter. Thats 1 cent short of the average estimate in a Bloomberg
survey of analysts.
SulphCo Inc. (SUF US) declined the most since Jan. 17, losing
11 percent to $3.99. The U.S. maker of equipment that removes
sulfur from oil reported a subpoena from the Denver office of the
U.S. Securities and Exchange Commission that requested financial
information.
Virgin Mobile USA Inc. (VM US) slid 45 percent to $2.99, the
biggest drop since its October 2007 initial public offering.
Richard Bransons pay-as-you-go mobile-phone service posted a
fourth-quarter loss and projected earnings for this year that
missed analysts estimates. It was cut to “sell from “neutral
at Merrill Lynch %26amp; Co. after the “weaker than expected results.
To contact the reporter on this story:
Aaron Clark in New York at
aclark27@bloomberg.net.
