AAR, Ambac Financial, Clearwire, ProLogis: 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 2 p.m. in New York.

AAR Corp. (AIR US) jumped 7.3 percent to $21.03, the highest intraday price since May 24. The aircraft parts and maintenance provider was raised to “outperform” from “neutral” at Wedbush Securities Inc. with a 12-month price estimate of $25 a share.

Abercrombie & Fitch Co. (ANF US) had the biggest gain in the Standard & Poor’s 500 Index, rallying 9.7 percent to $42.35. The teen clothing retailer said sales at stores open at least a year rose 13 percent, beating the 3.6 percent average of analysts’ estimates compiled by Retail Metrics Inc.

Affymax Inc. (AFFY US) slid 9 percent to $5.89 after sinking as much as 12 percent, the most intraday since June 21. The biopharmaceutical company lost a U.S. patent ruling to Johnson & Johnson (JNJ US).

Ambac Financial Group Inc. (ABK US) rallied for a second day, adding 14 percent to 89 cents, and earlier reached 94 cents, the most intraday since Aug. 9. The second-largest bond insurer before the onset of the credit crisis agreed on Oct. 6 to drop $6 billion in claims against Lehman Brothers Holdings Inc. as part of a proposed settlement of disputes over derivatives transactions.

American Eagle Outfitters Inc. (AEO US) advanced 7.1 percent to $16.07 after rising to $16.43 earlier, the highest intraday price since May 10. The young-adult clothing retailer raised its estimate on third-quarter earnings from continuing operations to at least 27 cents a share. The average estimate of analysts surveyed by Bloomberg is 25 cents.

Alvarion Ltd. (ALVR US) jumped 19 percent to $2.26 after rallying as much as 29 percent, the most intraday since June 2009. The maker of wireless telecommunications systems signed a multi-year agreement to supply equipment and services to Canada’s Barrett Xplore Inc. for that country’s first 4G Broadband Wireless Access network.

Bebe Stores Inc. (BEBE US) slipped 10 percent to $6.28 after erasing as much as 14 percent, the most intraday since July 19. The women’s clothing retailer said sales at stores open at least a year declined 4.7 percent during the fiscal first quarter.

BMC Software Inc. (BMC US) climbed 6.4 percent to $42.19 for the second-biggest gain in the S&P 500. The maker of programs that manage mainframes and computer networks may be considering a sale of the company, the DealReporter said, citing three industry bankers and an executive familiar with the situation.

Buckle Inc. (BKE US) rose 9.6 percent to $29.27 after jumping as much as 10 percent, the most intraday since March 2009. The U.S. casual-clothing retailer said its same-store sales increased 3 percent in September. Analysts estimated a decline of 4.4 percent, according to Retail Metrics Inc.

Clearwire Corp. (CLWR US) declined 4.5 percent to $7.07 after losing as much as 6.4 percent, the most intraday since Aug. 5. Competitor LightSquared Inc., Philip Falcone’s broadband and satellite venture, obtained $850 million of debt to finance the build-out of a next-generation mobile broadband network in the U.S.

Delcath Systems Inc. (DCTH US) climbed 7.7 percent to $7.80 after jumping as much as 16 percent, the most intraday since July 9. The developer of an experimental system for giving anti- cancer drugs jumped on takeover speculation, according to Theflyonthewall.com, citing no one.

Golden Minerals Co. (AUMN US) fell 8.6 percent to $19.70 after slumping 14 percent earlier for the biggest intraday drop since March 19. The mining company said it intends to sell shares this month, raising money to fund projects in Latin America.

Immucor Inc. (BLUD US) dropped the most in the Russell 2000 Index, sliding 18 percent to $16.77. The maker of products used to screen donated blood said adjusted earnings in 2011 will be no more than $1.18 a share, compared with the average analyst estimate of $1.28 a share.

InterMune Inc. (ITMN US) gained 6.8 percent to $14.36 after advancing 9.8 percent earlier, the most intraday since May 6. The biotechnology company said it sold worldwide development and commercialization rights to its experimental hepatitis C drug to Hoffman-La Roche Inc. and F. Hoffman-La Roche Ltd. for $175 million in cash.

Limited Brands Inc. (LTD US) advanced 3.8 percent to $28.65 after rising to $28.96 earlier, the highest intraday price since July 2007. The clothing retailer said same-store sales increased 12 percent, more than the 4 percent increase estimated by Retail Metrics analysts.

Marriott International Inc. (MAR US) fell the most in the S&P 500, losing 6.7 percent to $35.34. The largest U.S. hotel chain reported third-quarter profit of 22 cents a share, trailing the average analyst estimate by 1 cent.

Starwood Hotels & Resorts Worldwide Inc. (HOT US), the owner of the St. Regis and W hotel brands that’s scheduled to report earnings on Oct. 28, slipped 4.7 percent to $52.94.

MEMC Electronic Materials Inc. (WFR US) rose 3.7 percent to $12.78 and increased to $12.99 earlier, the highest intraday price since May 3. The company, which makes silicon wafers used in the technology and solar industries, is “cheap” and may be poised to rise by the fourth quarter, Jim Cramer said on his “Mad Money” program.

Neoprobe Corp. (NEOP US) dropped 12 percent to $1.69 and tumbled 19 percent earlier, the most intraday since October 2009. The company, which develops surgical and diagnostic testing products for cancer patients, said the U.S. Food and Drug Administration requested a second clinical trial be included as part of its new drug application for Lymphoseek. The company had planned to submit the data as an amendment.

PepsiCo Inc. (PEP US) declined 3.3 percent to $65.88 after sinking 4.3 percent earlier for the biggest intraday drop since May 6. The world’s largest snack-food producer said full-year per-share earnings will rise as much as 11 percent, less than its prior forecast of up to 12 percent. The company reported third-quarter per-share earnings of $1.22, which matched the average estimate of analysts surveyed by Bloomberg.

ProLogis (PLD US) rose 4.6 percent to $12.99 and advanced as high as $13.07 earlier, the highest intraday since May 5. The world’s largest owner of warehouses will sell 180 properties to Blackstone Group LP for $1 billion, CNBC reported, citing the Wall Street Journal.

Regeneron Pharmaceuticals Inc. (REGN US) fell 4.1 percent to $28 after sliding as much as 5.4 percent, the most intraday since July 1. The drugmaker filed to sell 4.5 million shares in a secondary offering.

Spherix Inc. (SPEX US) surged 27 percent to $1.71 after rallying 56 percent earlier, the most intraday since Nov. 16. The research and health-information company said a Phase 3 study of D-tagatose as a monotherapy in Type 2 diabetes showed “statistically significant” results.

To contact the reporter on this story: Nikolaj Gammeltoft in New York at ngammeltoft@bloomberg.net.

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net.

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