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Agilysys, Charles River, Molson Coors, PMA: U.S. Equity Movers

By Mary Childs

Nov. 4 (Bloomberg) -- 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.

Health insurers rallied after Republicans swept governors’ races in New Jersey and Virginia, sparking speculation their victories will bolster opposition to Democrats’ plans to overhaul the industry.

Aetna Inc. (AET US) rose 5.2 percent to $28.01. Cigna Corp. (CI US) climbed 5.2 percent to $29.78. Coventry Health Care Inc. (CVH US) added 4.5 percent to $21.74. UnitedHealth Group Inc. (UNH US) rose 3.6 percent to $27.87.

WellCare Health Plans Inc. (WLP US) rose 3.1 percent to $49.95. The largest U.S. health insurer by membership can resume marketing its Medicare insurance plans, the U.S. government said, lifting sanctions imposed in March.

Homebuilders advanced after Pulte Homes Inc. (PHM US) boosted its estimated cost savings from its acquisition of competitor Centex Corp. by 25 percent and said it reduced debt by $1.7 billion in the third quarter. Pulte gained 3.5 percent to $9.55. Lennar Corp. (LEN US) climbed 3.4 percent to $13.54. D.R. Horton Inc. (DHI US) increased 3.2 percent to $11.57.

Agilysys Inc. (AGYS US) soared 33 percent, the most since November 2008, to $6.35. The vendor of computers and software to hotels, casinos and health clinics reported earnings of 12 cents per share, 167 percent higher than the average analyst estimate in a Bloomberg survey.

Ambac Financial Group Inc. (ABK US) surged 35 percent to $1.50, the biggest gain since Aug. 27. The world’s second- largest bond insurer reported third-quarter net income of $2.19 billion, reversing a year-earlier loss, after unrealized mark- to-market gains in its credit derivatives portfolio.

MBIA Inc. (MBI US), the largest bond insurer, climbed 7.5 percent to $4.42 for the biggest gain in the Standard & Poor’s 500 Index.

American Capital Ltd. (ACAS US) gained 2.6 percent to $2.78, rising for a second day. The manager of private equity, real estate and other investments reached an agreement to restructure $2.4 billion of credit.

Baker Hughes Inc. (BHI US) slipped 5.9 percent to $40.89 for the steepest drop since Aug. 31. The oilfield-services provider that agreed in August to buy BJ Services Co. said third-quarter profit plunged 87 percent after energy prices tumbled and customers reduced spending. Adjusted profit was 26 cents a share, excluding some items, 26 percent less than the average estimate of analysts surveyed by Bloomberg.

Charles River Laboratories International Inc. (CRL US) fell 8.2 percent, the most since Aug. 5, to $34.07. The medical research company yesterday cut its 2009 profit forecast to a range of $2.28 to $2.32 a share. The previous estimate was $2.35 to $2.47 a share.

Clarient Inc. (CLRT US) tumbled 24 percent, the most since March 10, to $2.36. The provider of technologies and services for cancer treatment lowered its 2009 sales forecast to at most $94 million, less than the average analyst estimate of $98.44 million in a Bloomberg survey.

Con-Way Inc. (CNW US) dropped 10 percent, the most since Feb. 26, to $29.33. The second-largest U.S. trucking company reported third-quarter adjusted earnings of 39 cents a share, 28 percent less than the average estimate of analysts surveyed by Bloomberg.

DaVita Inc. (DVA US) climbed 6.5 percent to $57.93, the highest price since September 2008. The second-largest U.S. operator of kidney dialysis centers boosted its 2009 forecast, saying it expects at least $930 million in operating income.

Dolby Laboratories Inc. (DLB US) slipped 5.1 percent, the most since May 27, to $41.92. The maker of sound systems for film and music was cut to “neutral” from “overweight” at JPMorgan Chase & Co. The stock is “starting to approach fair value” after the company’s earnings beat analysts’ estimates, JPMorgan said.

Garmin Ltd. (GRMN US) fell the most in the Russell 1000 Index, sliding 15 percent to $26.84. The biggest maker of portable navigation devices in the U.S. said sales declined for a fourth consecutive quarter.

Hartford Financial Services Group Inc. (HIG US) fell 5.3 percent to $24.44, the first decline in three days. The insurer whose new chief executive officer is conducting a review of businesses said it will halt sales of some of its life products sold to companies.

Henry Schein Inc. (HSIC US) dropped 6.7 percent, the most since Dec. 1, to $50.42. The biggest distributor of health-care products to doctors’ offices in North America and Europe reported third-quarter adjusted profit of 80 cents a share, 1.8 percent lower than the average analyst estimate in a Bloomberg survey.

Kraft Foods Inc. (KFT US) fell 3.2 percent to $26.67 for the biggest decline in the Dow Jones Industrial Average. Chief Executive Officer Irene Rosenfeld’s vow to remain “disciplined” on her bid for Cadbury Plc stirred speculation that the U.S. company may scrap its offer as a takeover deadline approaches.

Maxwell Technologies Inc. (MXWL US) dropped 14 percent, the most since Dec. 29, to $16.29. The maker of electronic components posted a loss excluding some items of 7 cents a share in the third quarter, 84 percent wider than the average analyst estimate in a Bloomberg survey.

Merck & Co. (MRK US) rallied the most in the Dow Jones Industrial Average, rising 6.4 percent to $32.64. The drugmaker said about half of its revenue will come from outside the U.S., following the acquisition of Schering-Plough Corp. Earnings for the combined company, excluding some costs, will increase at a “high single-digit” rate each year through 2013, Merck said.

Molson Coors Brewing Co. (TAP US) had the biggest loss on the S&P 500, slipping 8.5 percent to $45.18. The biggest beer company based in North America is still discussing a tax issue with Fomento Economico Mexicano SAB, known as Femsa, tied to a 2006 transaction, Molson executives said on a conference call.

Neutral Tandem Inc. (TNDM US) gained 5.5 percent to $23.03, rallying for a second day. The Chicago-based provider of tandem interconnection services for wireless and cable telephone carriers reported third quarter earnings of 32 cents per share, beating the average analyst estimate of 31 cents in a Bloomberg Survey.

Pacer International Inc. (PACR US) had the biggest rally in Russell 2000 Index, surging 50 percent to $4.06. The provider of trucking, freight and transportation logistics services reported an unexpected profit in the third quarter and said it extended an agreement with Union Pacific Corp. (UNP US) that’s due to expire in 2011.

Penn National Gaming Inc. (PENN US) rose 7.6 percent, the most since April 23, to $28.19. Ohio voted to approve casinos, allowing the Wyomissing, Pennsylvania-based horse-racing track and casino operator to open two gambling venues in the state. Penn National spent at least $16.4 million promoting the ballot measure. MTR Gaming Group Inc. (MNTG US), which opposed the measure, fell 20 percent to $1.90.

PMA Capital Corp. (PMACA US) climbed 26 percent, the most since March 5, to $6.05. The insurance holding company was raised to “outperform” from “market perform.”

RehabCare Group Inc. (RHB US) rose the most since it went public in June 1991, advancing 28 percent to $24.24. The rehabilitation-services provider reported third-quarter earnings that beat analysts’ estimates and said it agreed to buy Triumph HealthCare, an operator of long-term acute care hospitals in the U.S., for $570 million.

Stec Inc. (STEC US) plunged 39 percent, the most since its initial public offering in 2000, to $14.14. The maker of memory chips forecast fourth-quarter sales of $103 million at most, trailing the $106.6 million average estimate of analysts surveyed by Bloomberg.

Stone Energy Corp. (SGY US) gained 7.9 percent to $18.77, rallying for a third day. The independent oil and gas company reported third-quarter earnings of $1.08 per share, beating the average analyst estimate in a Bloomberg survey by 59 percent.

True Religion Apparel Inc. (TRLG US) lost 24 percent, the most since November 2006, to $20.07. The seller of jeans forecast 2009 profit of $1.86 a share at most, missing the $1.87 average per-share estimate of analysts surveyed by Bloomberg.

TRW Automotive Holdings Corp. (TRW US) climbed 7.5 percent to $18.25 for a third day of gains. The world’s biggest supplier of vehicle-safety equipment posted a third-quarter profit that exceeded analysts’ estimates and raised its full-year sales forecast.

Tyco Electronics Ltd. (TEL US) gained 3.7 percent to $22.51, the biggest increase since Oct. 14. The world’s biggest maker of electronic connectors reported adjusted fourth-quarter earnings of 30 cents a share, exceeding the average analyst estimate in a Bloomberg survey by 14 percent.

Walt Disney Co. (DIS US) rose 1.5 percent to $28.03, advancing for a third day. The world’s biggest media company won government approval to build a theme park in Shanghai, giving it access to consumers in mainland China’s richest city.

Wellcare Health Plans Inc. (WCG US) added 6.7 percent to $28.09, the highest price since October 2008. The manager of U.S. Medicare and Medicaid benefits reported adjusted third- quarter earnings of 82 cents a share, 23 percent more than the average estimate of analysts surveyed by Bloomberg.

To contact the reporter on this story: Mary Childs in New York at mchilds4@bloomberg.net

Last Updated: November 4, 2009 16:51 EST

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