ArcSight, Express, National Semiconductor, Sequenom: U.S. Equity Movers
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.
Education stocks gained. A proposed rule aimed to limit for-profit colleges from receiving federal financial aid, known as “gainful employment,” may be “temporarily delayed,” Deutsche Bank AG said in a note, citing a conversation with a Congressional staff. DeVry Inc. (DV US) rose 2.9 percent to $57.10. Career Education Corp. (CECO US) gained 3.1 percent to $26.98. Corinthian Colleges Inc. (COCO US) climbed 2.5 percent to $11.93. ITT Educational Services Inc. (ESI US) advanced 1.4 percent to $97.72.
ArcSight Inc. (ARST US) climbed 18 percent, the most since March 2009, to $23.40. The developer of computer security software posted fourth-quarter profit excluding some items of 20 cents a share, beating the average analyst estimate by 18 percent, according to Bloomberg data.
Biogen Idec Inc. (BIIB US) fell 4 percent, the most in the Standard & Poor’s 500 Index, to $46.22. Rival Novartis AG (NOVN VX) won a U.S. regulatory advisory panel’s backing to introduce the first pill to treat multiple sclerosis, a competing drug to Biogen’s Avonex.
Bristol-Myers Squibb Co. (BMY US) rose 1.8 percent to $25.08, the highest price since May 4. The drugmaker and partner Pfizer Inc. (PFE US) ended a trial of an experimental blood thinner after a panel found “clear evidence” the drug, apixaban, helped reduce stroke risk in patients with irregular heartbeats.
Pfizer rose the most in the Dow Jones Industrial Average, jumping 3.7 percent to $15.46.
Buckeye Partners LP (BPL US), the Pennsylvania-based operator of U.S. oil- and gas-product pipelines, fell 4 percent to $55.86 and Buckeye GP Holdings LP (BGH US) rose 18 percent to $36.65. The two companies said they plan to merge.
Express Inc. (EXPR US) climbed 12 percent, the most since it went public last month, to $15.66. The apparel retailer said net profit in the fiscal first quarter surged to 39 cents a share from 10 cents a year earlier.
International Paper Co. (IP US) gained 5.6 percent, the second-most in the S&P 500, to $24.30. The world’s largest paper and pulp maker was raised to “buy” from “neutral” at Longbow Research.
Medical Nutrition USA Inc. (MDNU US) soared 42 percent to $3.95, the highest price since January 2008. The U.S. maker of Pro-Stat proteins will be acquired by Groupe Danone SA (BN FP), the world’s largest yogurt maker, for about $62.3 million, or $4 a share, 44 percent more than yesterday’s closing price.
National Semiconductor Corp. (NSM US) advanced 5 percent, the most since May 10, to $14.21. The maker of analog chips that control power in electronic devices forecast first- quarter sales of at least $410 million in the first quarter, exceeding the average analyst estimate of $394 million in a Bloomberg survey.
Sequenom Inc. (SQNM US) rose 8.4 percent, the most since May 17, to $6.44. The biotechnology company was raised to “buy” from “hold” at Auriga USA LLC.
Wendy’s/Arby’s Group Inc. (WEN US) increased 7.1 percent percent to $4.65, the highest level since May 14. Nelson Peltz’s Trian Fund Management LP, the biggest shareholder in the fast- food chain said it was approached by a third party about the possibility of participating in a takeover of the company.