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.
Airvana Inc. (AIRV US) rallied 22 percent, the most since its initial public offering in July 2007, to $7.59. The provider of mobile broadband network infrastructure products said that it agreed to be acquired for about $530 million by a group led by SAC Private Capital Group LLC.
CarMax Inc. (KMX) gained 7 percent to $23.35, the highest price since September 2007. The biggest U.S. used-car dealer said it had a third-quarter profit of 24 cents a share excluding some items, beating the average analyst estimate by 54 percent.
Career Education Corp. (CECO) slid 2.5 percent to $22.30, the lowest price since Nov. 4. The for-profit school company was cut to “sector perform” from “outperform” by RBC Capital Markets after investigators for the U.S. Education Department said accrediting one of its universities wasn’t in the “best interest of students.”
Celgene Corp. (CELG) had the second-biggest gain in the Standard & Poor’s 500 Index, jumping 11 percent to $55.95. The biopharmaceutical company said the Revlimid drug “had met its primary endpoint of a statistically significant improvement” in slowing the progression of multiple myeloma, a form of cancer.
CR Bard Inc. (BCR) fell 6.7 percent to $78.49 for the steepest decline in the S&P 500. The maker of surgical and patient-care devices was downgraded to “underweight” from “neutral” at Piper Jaffray by equity analyst Thomas Gunderson. The 12-month target price is $71 a share.
CTC Media Inc. (CTCM) dropped the most in the Russell 1000 Index, sinking 16 percent to $12.58. The owner of Russia’s fourth-biggest television network was under pressure after the country’s legislators passed a bill to limit the market share of television agencies to 35 percent, according to Deutsche Bank AG.
Dana Holding Corp. (DAN) gained 12 percent to $10.76, the highest price since May 2008. The truck axle and frame maker was raised to “overweight” from “neutral” at JPMorgan by equity analyst Himanshu Patel.
Darden Restaurants Inc. (DRI) rose 7.3 percent, the most since May 26, to $35.13. The owner of the Red Lobster and Olive Garden chains said second-quarter profit rose 1 percent after it held off on discounts.
Interstate Hotels & Resorts Inc. (IHR US) soared 74 percent, the most since at least 1998, to $2.21. The operator of hotels and resorts agreed to be bought by Hotel Acquisition Co. for $307 million, or $2.25 a share.
Javelin Pharmaceuticals Inc. (JAV US) advanced 5.7 percent to $1.30 for the biggest gain since Dec. 4. The developer of pain medications agreed to bought by Myriad Pharmaceuticals Inc. (MYRX) . Myriad slid 5.6 percent to $5.03.
LDK Solar Co. (LDK US) fell 13 percent to $6.85, the lowest price since Nov. 17. The Chinese manufacturer of polysilicon wafers reduced the number of shares it plans to sell to 16.5 million from 18.9 million.
NetApp Inc. (NTAP) lost 1.8 percent to $33.23, the first decline this week. The maker of storage computers for companies such as Oracle Corp. (ORCL) was downgraded to “neutral” and removed from the “Conviction Buy-List” at Goldman Sachs, which cited the stocks 37 percent gain since it was rated “buy” on Sept. 20.
Nike Inc. (NKE) rose 1.9 percent to $64.42, the first gain in three days. The world’s largest athletic-shoe maker reported second-quarter profit that fell less than analysts estimated and said orders rose 4 percent from a year earlier, helped by currency changes.
Oracle Corp. (ORCL US) surged 6.4 percent, the most since June 24, to $24.34. The world’s second-largest software maker reported second-quarter profit that beat analysts’ estimates after customers renewed annual support contracts.
Palm Inc. (PALM US) dropped 13 percent to $10.17 the lowest price since May 22. The maker of the Pre mobile phone reported its 10th straight quarterly loss in the second quarter as it struggled to match rivals’ gains in the smart-phone market.
Research In Motion Ltd. (BB) jumped 10 percent, the most since April 3, to $70. The maker of the BlackBerry forecast sales and profit for the current quarter that beat analysts’ estimates as it pushes to attract a wider audience and introduce new models.
SenoRx Inc. (SENO US) gained 34 percent, the most since it went public in March 2007, to $6.77. The maker of EnCor vacuum-assisted breast biopsy system and Contura catheter said a jury found the company doesn’t infringe Hologic Inc.’s (HOLX US) patented system of applying radiation to areas where breast cancer is most likely to recur following tumor removal.
Smart Modular Technologies Inc. (SMOD US) climbed 24 percent to $6.01, the highest intraday price since May 2008. The storage-chip maker forecast earnings excluding some items of at least 9 cents a share in the second quarter, topping the average analyst estimate of 5 cents in a Bloomberg survey.
Take-Two Interactive Software Inc. (TTWO) gained 9.2 percent, the most since April 13, to $9.01. Billionaire investor Carl Icahn increased his stake in New York-based Take-Two to 11 percent and may seek talks with the company, publisher of the “Grand Theft Auto” video games.
VeriSign Inc. (VRSN) climbed 7.5 percent, the most since May 8, to $23.85. The biggest operator of computers that direct Internet traffic said it will increase domain name fees, starting July 1.
Zale Corp. (ZLC US) dropped 18 percent to $2.08, the lowest price since March 31. The U.S. jewelry chain has canceled some orders from suppliers a its sales declined, the Wall Street Journal reported, citing Chief Financial Officer Matt Appel.
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