Comverse, Electromed, Premier, Telestone: U.S. Equity Movers

Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 11:05 a.m. in New York.

For-profit colleges fell before a report from the U.S. Department of Education that will show how its proposed requirements for student-loan eligibility would affect the industry. The data is expected to be released after the market’s close.

DeVry Inc. (DV US) slid 2.7 percent to $44.08. Career Education Corp. (CECO US) declined 3.3 percent to $18.95. ITT Educational Services Inc. (ESI US) fell 3.9 percent to $66.62. Strayer Education Inc. (STRA US) dropped 4.1 percent to $201.13.

Allis-Chalmers Energy Inc. (ALY US) surged 55 percent to $3.56, after rallying as much as 59 percent, the most intraday since June 2004. The oilfield-services provider said it will be acquired by Seawell Ltd. of Bermuda for $307.8 million, or $4.25 a share, 85 percent more than yesterday’s close. The transaction is valued at $890 million including assumed debt, the companies said.

Autodesk Inc. (ADSK US) rose 5.9 percent to $29.08 for the biggest advance in the Standard & Poor’s 500 Index. The maker of software used in bridge design and the special effects in movies posted second-quarter profit excluding some items of 36 cents a share, beating the average analyst estimate by 32 percent, according to Bloomberg data.

Comverse Technology Inc. (CMVT US) slumped 25 percent to $5.40, after sinking as much as 29 percent, the most intraday since July 2001. The world’s largest maker of voice-mail software was cut to “hold” from “buy” at Stifel Nicolaus, which cited a “degradation of the core business and deterioration of accessible cash.”

Dynegy Inc. (DYN US) surged 59 percent to $4.42, after jumping as much as 62 percent, the most intraday since November 2002. The U.S. power producer that lost more than 90 percent of its market value in the past three years said it will be acquired by an affiliate of Blackstone Group LP (BX US). The deal is valued at more than $540 million, and including the assumption of existing debt is around $4.7 billion. NRG Energy Inc. (NRG US) will acquire four natural gas-fired assets currently owned by Dynegy for about $1.36 billion.

Other power companies also advanced. RRI Energy Inc. (RRI US) climbed 7.4 percent to $3.62 for the biggest gain in the Russell 1000 Index. Mirant Corp. (MIR US) jumped 6.4 percent to $10.14. Calpine Corp. (CPN US) added 7 percent to $13.38.

Electromed Inc. (ELMD US) fell 3.3 percent to $3.87 on the first day of trading. The maker of pulmonary devices sold 1.7 million shares at $4 each after cutting its initial public offering.

Eli Lilly & Co. (LLY US) lost 2.7 percent to $35.62, after sliding as much as 3.7 percent, the most intraday since May 6. The Indianapolis-based drugmaker’s Strattera faces generic competition after it lost a U.S. court case over the attention- deficit disorder treatment.

Nordstrom Inc. (JWN US) declined 6 percent to $31.45 for the biggest loss in the S&P 500. The retailer reported second- quarter profit of 66 cents a share, in line with the average analyst estimate in a Bloomberg survey.

Nvidia Corp. (NVDA US) climbed 4.2 percent to $9.34 for the second-biggest gain in the S&P 500. The second-largest maker of graphics chips said it expects sales in the current quarter to increase as much as 5 percent from the prior period.

PDL BioPharma Inc. (PDLI US) dropped the most in Russell 2000 Index, sliding 16 percent to $5.20. The developer of antibodies used in cancer treatments said it received a facsimile letter from Genentech Inc. (DNA US) asserting that Avastin, Herceptin, Lucentis and Xolair do not infringe supplementary protection certificates granted by some countries in Europe to PDL and “is seeking a response from PDL to these assertions.”

Premier Exhibitions Inc. (PRXI US) rallied 53 percent to $1.78, after climbing to $2.50 earlier, the highest intraday price since September 2008. The maker of museum displays that include exhibits of dissected human bodies said a court granted a salvage award worth about $110 million to the company for its work in recovering artifacts from the wreck of the Titanic.

Rambus Inc. (RMBS US) added 5.4 percent to $19, after climbing as much as 9.9 percent, the most intraday since July 27. The seller of technology used in computer memory and Nvidia Corp. (NVDA US) signed a licensing agreement for certain memory controllers to ensure Nvidia products can enter the U.S. market while a patent dispute continues.

Trubion Pharmaceuticals Inc. (TRBN US) rallied 48 percent to $4.45, after increasing as much as 53 percent, the most intraday since August 2009. The drugmaker agreed to be bought by Emergent BioSolutions Inc. (EBS US) for as much as $135.5 million. Emergent slipped 5.4 percent to $17.50.

Telestone Technologies Corp. (TSTC US) dropped 19 percent to $11.07, after erasing as much as 22 percent, the most intraday since February 2009. The Chinese maker of wireless gear said second-quarter profit declined to 16 cents a share from 19 cent a year earlier.

Unica Corp. (UNCA US) soared 118 percent, the most since it went public in August 2005, to $20.80. The Waltham, Massachusetts-based provider of software products will be acquired by International Business Machines Corp. (IBM US) for about $480 million. Unica shareholders will get $21 a share in cash, more than double the stock’s closing price yesterday.

To contact the reporter on this story: Lu Wang in New York at lwang8@bloomberg.net

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