By Eric Martin
(Corrects share-price change in 14th paragraph of story published March 26.)
March 26 (Bloomberg) -- The following is a list of companies whose shares had unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 4 p.m. New York time.
Some homebuilders fell after the Commerce Department said purchases of new homes slid 3.9 percent to an annual pace of 848,000 last month, while the supply of unsold homes climbed to the highest in 16 years. The report dimmed prospects for a quick recovery in housing.
Lennar Corp. (LEN US), the biggest U.S. homebuilder by revenue, fell $1.04, or 2.3 percent, to $44.54. D.R. Horton Inc. (DHI US), the second largest, retreated 53 cents, or 2.3 percent, to $22.79. KB Home (KBH US) sank 87 cents, or 1.9 percent, to $45.99 and Pulte Homes Inc. (PHM US) declined 31 cents to $27.25.
Standard Pacific Corp. (SPF US), which builds houses in California, Texas, Arizona and Colorado, fell 86 cents, or 3.7 percent, to $22.34.
Alexion Pharmaceuticals Inc. (ALXN US) climbed $3.71, or 9.3 percent, to $43.78. The 15-year-old drug developer said it will start shipping its first product next week. The company held a conference call this to discuss the drug Soliris, which was approved on March 16 by the U.S. Food and Drug Administration for the treatment of paroxysmal nocturnal hemoglobinuria, a potentially life-threatening blood disorder. The drug will cost $389,000 per patient for a year's treatment, company officials said.
Biosite Inc. (BSTE US) rose $28.42, or 51 percent, to $83.80. Beckman Coulter Inc. (BEC US), a maker of laboratory equipment, said it will acquire Biosite for $1.55 billion to add heart-disease diagnostic tests. The $85-a-share offer is a 53 percent premium to Biosite's closing share price on March 23.
Beckman Coulter fell $4.57, or 6.8 percent, to $62.51. The company was cut to ``market perform'' from ``outperform'' at Piper Jaffray & Co.
Boston Scientific Corp. (BSX US) fell $1, or 6.6 percent, to $14.22. Abbott Laboratories' experimental heart stents may threaten the market dominance of Boston Scientific and Johnson & Johnson based on positive results from studies released on March 24. Abbott's Xience, a drug-coated stent marketed in Europe, was found superior to Boston Scientific's Taxus in keeping treated blood vessels open, according to a study presented at the American College of Cardiology meeting. The finding may help propel the Abbott device to U.S. approval next year.
Abbott Laboratories (ABT US) rose $3.38, or 6.3 percent, to $57.24.
Countrywide Financial Corp. (CFC US) fell 59 cents, or 1.6 percent, to $36.24. The biggest U.S. mortgage lender declined after new-home sales unexpectedly fell in February to the lowest level in almost seven years.
CV Therapeutics Inc. (CVTX US) fell $1.82, or 21 percent, to $6.75. The maker of the first new drug for chronic chest pain in two decades was cut to ``sell'' from ``hold'' by Deutsche Bank Securities analyst Jennifer Chao, who said the drug, Ranexa, ``will fall short of generating sufficient positive data trends,'' which could make it difficult to raise additional capital for the company to remain solvent.
Dell Inc. (DELL US) added 79 cents, or 3.5 percent, to $23.62. The world's second-biggest personal computer maker was raised to ``buy'' at Goldman Sachs Group Inc. as the firm recommended investors purchase the shares ahead of a turnaround at the company. Analyst Laura Conigliaro lifted her rating from ``neutral'' and added Dell to Goldman's ``Americas Buy List'' in a research note.
EBay Inc. (EBAY US) climbed $1.39 to $33.22. Goldman, Sachs & Co. said investors should buy the shares, which may climb to $40 this year. Goldman also raised its revenue and profit estimates for EBay on a better-than-expected increase in new listings.
General Maritime Corp. (GMR US), the third-largest U.S. owner of oil tankers, said it drew down $490 million from its $900 million revolving credit line to fund a one-time special dividend of $15 a share, paid March 23 to shareholders as of March 9. Reflecting payment of the dividend, the stock fell $13.77, or 32 percent, to $29.58.
Goodyear Tire & Rubber Co. (GT US) rose $1.47, or 4.9 percent, to $31.76. The largest U.S. tiremaker said it sold its engineered products division to buyout firm Carlyle Group for $1.47 billion. The company will use the proceeds to reduce debt and pay for expansion, Goodyear said.
Inyx Inc. (IYXI US) rose 8 cents, or 3 percent, to $2.69. The company that specializes in technology for aerosol and inhalable drugs said in a statement that Chief Executive Officer Jack Kachkar and an outside investor made an all-cash offer to take the company private for $3.01 a share, a 15 percent premium over the closing price on March 23.
Monro Muffler Brake Inc. (MNRO US) fell $2.43, or 6.5 percent, to $35.10. The operator of a chain of U.S. auto-repair and tire stores cut its forecast for fiscal 2007 earnings, citing higher workers' compensation expense and poor performance of its ProCare unit. Earnings will be $1.54 to $1.56 a share in 2007, below an earlier estimate of $1.66 to $1.69, the Rochester, New York-based company said in a statement.
Novatel Wireless Inc. (NVTL US) rose $1.85, or 12 percent, to $17.03. The wireless modem and software maker said it expects first-quarter profit excluding some items to be above 35 cents a share. Analysts polled in a Bloomberg survey estimate 13 cents a share on average.
Osiris Therapeutics Inc. (OSIR US) rose $2.87, or 16 percent, to $20.77. The company's easy-to-administer stem-cell treatment helped patients recover after a heart attack and eased their symptoms, according to research presented at the American College of Cardiology meeting.
Progressive Gaming International Corp. (PGIC US) fell 73 cents, or 15 percent, to $4.20. The developer of systems used to track casino betting said it may file for bankruptcy after losing a jury verdict for violating antitrust laws.
Semiconductor Manufacturing International Corp. (SMI US) American depositary receipts, each representing 50 shares, surged 59 cents, or 9 percent, to $7.17. China's biggest computer-chip maker may try to sell a 20 percent stake in itself for as much as $500 million and has hired Deutsche Bank AG and Morgan Stanley to find potential buyers, the Financial Times reported today, without saying where it got the information. Reiko Chang, a Shanghai-based spokeswoman for Semiconductor Manufacturing, said the company doesn't comment on speculation.
Smith Micro Software Inc. (SMSI US) rose $2.01, or 12 percent, to $18.16. Sprint Nextel Corp. (S US) said in a statement that starting in April it will offer wireless, ``over- the-air'' music downloads for 99 cents a song and Smith Micro Software will power its new Sprint Music Manager, which allows songs to be transferred from a computer to a mobile handset.
Spectrum Brands Inc. (SPC US) rose 63 cents, or 11 percent, to $6.15. The maker of Rayovac batteries and Remington razors was raised to ``neutral weight'' from ``underweight'' by Prudential Equity Group analyst Constance Maneaty, who wrote in a note that ``any signal of business stabilization or merger and acquisition progress could suggest the shares have already seen the bottom.'' The shares have fallen 72 percent in the last year.
Tickers: DELL DHI OSIR SPF
To contact the reporter on this story: Eric Martin in New York at emartin21@bloomberg.net.
Last Updated: March 28, 2007 10:27 EDT
HOME
