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.
Fertilizer makers gained after the U.S. Department of Agriculture cut its corn crop estimate. CF Industries Holdings Inc. (CF US) climbed the most in the Standard & Poor’s 500 Index, rallying 11 percent to $109.90. Agrium Inc. (AGU US) increased 7.5 percent to $81.08. Intrepid Potash Inc. (IPI US) jumped 8.1 percent to $28.94. Mosaic Co. (MOS US) added 6.6 percent to $65.61.
Companies that use corn as animal feed declined. Tyson Foods Inc. (TSN US), the largest U.S. chicken processor, fell 7.7 percent to $15.01 for the biggest drop in the S&P 500. Sanderson Farms Inc. (SAFM US) slipped 4.7 percent to $39.52. Smithfield Foods Inc. (SFD US) lost 6.7 percent to $14.97.
Index changes: Rofin-Sinar Technologies Inc. (RSTI US) rose 7.4 percent to $27.90. The developer of laser-based cutting and welding tools will replace Cogent Inc. (COGT US) in the Standard & Poor’s SmallCap 600 index, S&P said on its website. Dril-Quip Inc. (DRQ US), which will replace Burger King Holdings Inc. (BKC US) in the S&P MidCap 400 index, gained 2.6 percent to $64.92. Atlantic Tele-Network Inc. (ATNI US), which will replace Dril- Quip in the S&P SmallCap 600, advanced 5.3 percent to $54.54.
99 Cents Only Stores (NDN US) dropped 12 percent to $15.52 for the biggest slide since February 2009. The discount retailer reported sales of $333.6 million in the fiscal second quarter. That trailed the average analyst estimate of $341.6 million in a Bloomberg survey.
Adobe Systems Inc. (ADBE US) slipped the second most in the S&P 500, dropping 5.9 percent to $26.99. The maker of graphic software gave up part of yesterday’s 12 percent gain as speculation cooled that it may be bought by Microsoft Corp.
Alcoa Inc. (AA US) advanced 5.7 percent to $12.89 for the biggest increase in the Dow Jones Industrial Average. The largest U.S. aluminum producer reported third-quarter earnings excluding certain items of 9 cents a share, topping the 5-cent average estimate of analysts surveyed by Bloomberg.
Brady Corp. (BRC US) rose 3.4 percent to $29.85, the highest price since May 19. The maker of identification cards and signs was raised to “market perform” from “underperform” at BMO Capital Markets Corp. by equity analyst Charles Brady.
Cytori Therapeutics Inc. (CYTX US) fell 11 percent, the most since March 15, to $4.77. The stem-cell company said it intends to sell shares and has hired Jefferies & Co. to manage the offering.
DragonWave Inc. (DRWI US) gained 4.5 percent to $6.96, the highest price since Sept. 30. The maker of wireless equipment reported second-quarter revenue of $27.2 million, beating the average analyst estimate of $26.9 million.
F5 Networks Inc. (FFIV US) fell 4.3 percent to $94.69, the lowest price since Sept. 10. The maker of software to handle Internet traffic and content was cut to “sell” from “neutral” by Goldman Sachs Group Inc.
Fortune Brands Inc. (FO US) climbed 7.4 percent, the most since September 2009, to $55.85. William Ackman’s Pershing Square Capital Management LP said it took an 11 percent stake in the maker of Titleist golf balls, Moen faucets and Jim Beam bourbon.
J.C. Penney Co. (JCP US) advanced 2.7 percent to $32.49, the highest price since April 7. Pershing Square Capital disclosed a 16.5 percent stake, making it the retailer’s largest investor.
KLA-Tencor Corp. (KLAC US) fell 1.6 percent to $34.45. The maker of semiconductor equipment was cut to “sell” from “hold” at Deutsche Bank AG. The brokerage also lowered its ratings on Novellus Systems Inc. (NVLS US), which retreated 2.8 percent to $25.78, and Lam Research Corp. (LRCX US), which dropped 3.6 percent to $39.94.
Kulicke and Soffa Industries Inc. (KLIC US) declined 9.9 percent, the most since Aug. 6, to $5.85. The maker of semiconductor assembly equipment said revenue will decline “significantly” in the first quarter from the fourth quarter.
Micron Technology Inc. (MU US) rose 6.8 percent to $7.59, the highest price since Aug. 5. The largest U.S. maker of computer-memory chips reported a quarterly net income of $342 million, rounding out its first annual profit in four years.
Neurocrine Biosciences Inc. (NBIX US) gained 16 percent, the most since May 26, to $7.34. The San Diego-based drugmaker was rated “buy” in new coverage by Jefferies Group Inc.
Quantum Corp. (QTM US) rallied 15 percent, the most since Nov. 4, to $2.29. The San Jose, California-based maker of backup and archival programs for computers was rated “buy” in new coverage by Gleacher & Co.
Scansource Inc. (SCSC US) jumped 9.2 percent, the most since April 2009, to $30.78. The maker of bar-code scanners said first-quarter sales will be at least $623 million. Analysts had estimated sales of $554.8 million.
TeleCommunication Systems Inc. (TSYS US) rose 14 percent to $5.17, the highest price since May 27. The maker of satellite systems was boosted to “outperform” from “neutral” by Wedbush Securities Inc.
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