11 Intraday Movers and Shakers

Tech gets a boost while foreign stocks face investigations

   

The following are some of today’s most notable movers of interest, ranked by percent change since yesterday’s close (all stocks over 100,000 average daily volume). Small-cap stocks have been excluded.

Biggest Intraday Gains

  • Panasonic Corp. (NYSE:PC) $7.43-$7.83, +11.48%: Shares increased by more than 4% yesterday after the company, announced that they have reached an agreement with Minebea Co. in their joint venture of Minebea Motor Manufacturing Corporation.
  • Harmony Gold Mining Co. (NYSE:HMY) $6.75-$7.22, +8.99%: The company announced the approval of an interim dividend of 0.50 per ordinary share (gross) in respect of the six months ended Dec. 31, 2012. The dividend is payable on March 11 and goes ex-div March 8.
  • Cyberonics, Inc. (NASDAQ:CYBX) $45.00-$48.93, +7.35%: CYBX today announced that the lawsuit filed by former employee Andrew Hagerty was voluntarily dismissed without prejudice by Mr. Hagerty. The company has asserted that Mr. Hagerty’s claims are subject to binding arbitration and that he has the right to re-file the lawsuit or to pursue a resolution through binding arbitration.
  • Broadsoft (NASDAQ:BSFT) $36.19-$38.60, +6.92%: BSFT was boosted higher after the news broke that Oracle Corporation (NASDAQ:ORCL) agreed to buy Acme Packet Inc. for roughly $2 billion in cash. Oracle will pay Acme’s shareholders a per-share cash price of $29.25, a 22% premium over Friday’s close.
  • Humana (NYSE:HUM) $75.02-$79.96, +4.58%: HUM maintained an upbeat outlook for 2014 at its investor day on Monday. 2014 will be an important year for health insurers as major changes under the health-care law begin to take place.

Biggest Intraday Declines

  •  Banco Santander (NYSE:SAN) $7.67-$7.96, -7.13%: Shares of Banco Santander S.A. (NYSE:BSBR), one of Brazil’s largest banks, declined 1.2% this morning bring SAN with it, continuing its slump since the company reported earnings at the end of January. Analysts described the company’s earnings as poor and unimpressive.
  • Telefonica (NYSE:TEF) 13.47-13.95, -5.21%: After the January rally, the Latin American telephone company appears to be pulling back.
  • France Telecom (NYSE:FTE) $10.90-$11.17, -5.37%: FTE traded down with the news when London-based BT Group (NYSE:BT) reported that adjusted earnings before interest, taxes, depreciation and amortization increased 1.6% to 1.55 billion pounds ($2.5 billion) in the quarter ended Dec. 31. As the analysts had anticipates 1.53 billion pounds, data compiled by Bloomberg show. Excluding the impact of a regulatory decision, revenue plunged 6% to 4.51 billion pounds, matching the average anticipate by analysts.
  • Hovnanian Enterprises (NYSE:HOV) $5.32-$5.67, -5.17%: HOV shares fell 1.75% and closed at $5.61 last week. On Jan. 31, Faruqi & Faruqi, LLP, a national securities firm, began investigating the Board of Directors at HOV for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for an amendment to the Company’s Certificate of Incorporation.
  • Weight Watchers International (NYSE:WTW) $50.50-$52.91, -4.88%: SAC Capital Advisors, LLC, a constituent of hedge funds with assets estimated at ~$14 billion, is also under investigations for insider trading involving shares of WTW.
  • Herbalife (NYSE:HLF) $30.84-$30.00, -4.68%: HLF may also be under investigation by the Federal Trade Commission. The nutritional-supplements maker has been waging a public battle over its business model, defending itself against criticism from hedge fund manager William Ackman who argues it is a pyramid scheme.

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