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Alcoa, Cliffs, MasterCard, Penske, PolyOne: 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.
Commodity shares advanced after oil surged above $81 a barrel and reports showed growth in U.S. construction spending and manufacturing. Alcoa Inc. (AA US) rose the most in the Dow Jones Industrial Average, climbing 4.8 percent to $11.71. Cliffs Natural Resources Inc. (CLF US) rallied 7.1 percent to $60.60. Anadarko Petroleum Corp. (APC US) increased 8.4 percent to $53.27. National Oilwell Varco Inc. (NOV US) added 5 percent to $41.13.
Allergan Inc. (AGN US) rose 6 percent to $64.72 for the biggest gain since July 2. The maker of the Botox wrinkle smoother posted second-quarter profit excluding some items of 85 cents a share, exceeding the average analyst estimate by 5.5 percent, according to Bloomberg data. The company said U.S. regulators extended by three months a review of Botox for a new use as a migraine treatment.
Arena Pharmaceuticals Inc. (ARNA US) dropped 9.8 percent, the most since July 2009, to $7.17. The San Diego-based biotechnology company was downgraded to “neutral” from “overweight” at JPMorgan Chase & Co. The share-price estimate for the next 12 months is $6.
Charles River Laboratories International Inc. (CRL US) declined 3.9 percent to $29.87, the lowest price since May 22. The provider of drug-testing services said 2010 earnings excluding some items will be $2 at most. On average, the analysts surveyed by Bloomberg estimated earnings of $2.17.
Coca-Cola Co. (KO US) advanced 2.4 percent to $56.41, the highest price since Jan. 19. The world’s largest soft-drink maker was raised to “overweight” from “neutral” at JPMorgan. The share-price estimate is $66.
Dynavax Technologies Corp. (DVAX US) lost 8.1 percent, the most since May 20, to $2.03. The biotechnology company developing products for infectious disease said it had a loss of 34 cents a share in the second quarter, compared with profit of 10 cents a year earlier.
Humana Inc. (HUM US) gained 3.6 percent, the most since June 2, to $48.73. The biggest provider of U.S.-backed health benefits forecast third-quarter profit excluding some items of at least $1.65 a share. On average, the analysts surveyed by Bloomberg estimated earnings of $1.42.
Integral Systems Inc. (ISYS US) dropped 7.7 percent, the most since June 4, to $6.98. The maker of Epoch Client satellite systems and software reduced its full-year forecast, saying it expects a loss of at least 2 cents a share. The company had previously projected a profit.
MasterCard Inc. (MA US) fell the most in the S&P 500, sliding 3.6 percent to $202.52. AT&T Inc. and Verizon Wireless, the biggest U.S. mobile carriers, are planning a venture to displace credit and debit cards with smartphones, posing a new threat to the second-biggest payment network, three people with direct knowledge of the plan said. Visa Inc. (V US), MasterCard’s larger rival, fell 1.5 percent to $72.23.
Office Depot Inc. (ODP US) rose 10 percent to $4.77 for the biggest increase in the S&P 500. Thomas J. Colligan, a board director at the second-largest U.S. office-supply chain, bought 8,000 shares on July 30, according to a regulatory filing.
Penske Automotive Group Inc. (PAG US) gained 2.9 percent to $14.41, the highest price since May 12. The second-largest U.S. auto retailer was raised to “buy” from “hold” at Soleil Securities Corp.
PolyOne Corp. (POL US) rose 11 percent to $11.46, the highest price since May 13. The Avon Lake, Ohio-based maker of plastic compounds posted second-quarter profit excluding some items of 25 cents a share, beating the average analyst estimate by 28 percent, according to Bloomberg data.
To contact the reporter on this story: Lu Wang in New York at lwang8@bloomberg.net
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