Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 10:10 a.m. in New York.
Solar shares declined after Credit Suisse Group AG cut the industry’s recommendation to “market weight” from “overweight,” saying subsidy-driven demand can’t keep up with surging supply. First Solar Inc. (FSLR US) fell the most in the Standard & Poor’s 500 Index, losing 3.8 percent to $125.73. Renesola Ltd. (SOL US) dropped 7.1 percent to $9.12. Suntech Power Holdings Co. (STP US) slid 7 percent to $7.76. JA Solar Holdings Co. (JASO US) dropped 8 percent to $7.22. Trina Solar Ltd. (TSL US) retreated 5 percent to $22.51.
Bob Evans Farms Inc. (BOBE US) gained 6.7 percent to $31.81 after advancing as much as 7.7 percent, the most intraday since Dec. 4. The restaurant owner and sausage maker reported second- quarter sales that missed some analyst estimates, according to a Bloomberg survey.
Booz Allen Hamilton Holding Corp. (BAH US) jumped 9.9 percent to $18.69 on the first day of trading. The government- consulting firm acquired by Carlyle Group in 2008 raised $238 million in an initial public offering.
Chico’s FAS Inc. (CHS US) rose 7.3 percent to $10.81 after climbing 9.2 percent earlier, the most intraday since Sept. 14. The women’s clothing retailer reported third quarter earnings of 16 cents, beating the average analyst estimate by 1 cent. Sales were $483 million, higher than the $476.6 million projected by analysts.
China Digital TV Holding Co. (STV US) advanced 7.5 percent to $7.32 and increased 9.4 percent earlier, the most intraday since Oct. 14. The vendor of digital television software forecast fourth-quarter sales of at least $20.8 million. That beat the average analyst estimate of $16.1 million in a Bloomberg survey.
Comerica Inc. (CMA US) rose 2.1 percent to $37.51 and added 3.5 percent earlier, the most intraday since Nov. 5. The Dallas- based bank that posted annual profits throughout the financial crisis doubled its quarterly dividend to 10 cents and authorized the repurchase of up to 7 percent of shares outstanding.
CVR Energy Inc. (CVI US) fell 8.9 percent to $10.05 after dropping as much as 11 percent, the most intraday since November 2009. The Sugar Land, Texas-based oil refiner said shareholders including Goldman Sachs Group Inc. and Kelso & Co. will sell 15 million shares in a secondary public offering.
Duoyuan Global Water Inc. (DGW US) jumped 6.1 percent to $12.80 and climbed 11 percent earlier, the most intraday since Sept. 28. The Chinese water-treatment equipment supplier posted fourth quarter earnings of 55 cents a share, exceeding the 48- cent average estimate by analysts.
GameStop Corp. (GME US) rose the most in the Standard & Poor’s 500 Index, climbing 5.3 percent to $21.95. The world’s largest video-game retailer was boosted to “outperform” from “neutral” at Credit Suisse Group AG, which cited the company’s improving earnings outlook and “strong cash flow.”
The stock rallied earlier after winning a U.S. advisory panel’s backing together with GlaxoSmithKline Plc (GSK US) to sell the first new lupus drug, Benlysta, in more than 50 years. While the Food and Drug Administration isn’t required to follow its outside recommendations, it usually does.
Ladish Co. (LDSH US) had the biggest gain in the Russell 2000 Index, surging 56 percent to $45.74. The maker of products for jet engines agreed to be bought by Allegheny Technologies Inc. (ATI US) in a cash-and-stock transaction valued at $778 million. Allegheny slipped 1.9 percent to $49.
Merck & Co. (MRK US) rose the most in the Dow Jones Industrial Average, climbing 1.9 percent to $34.76. The company’s experimental drug, anacetrapib, raised levels of good cholesterol, slashed bad cholesterol and may have helped patients avert heart complications, without the safety risks that prompted Pfizer Inc. (PFE US) to abandon a similar product four years ago, according to a study funded by Whitehouse Station, New Jersey-based Merck.
Petroleum Development Corp. (PETD US) fell 6.8 percent to $34.03 and slipped to $33.96 earlier, the lowest intraday price since Nov. 3. The oil and gas company said it will offer $100 million of convertible notes due 2016 and 3 million shares. Proceeds will be used to fund an acquisition.
Rino International Corp. (RINO US) slumped 15 percent to $6.02 after tumbling to $5.68 earlier, the lowest intraday price since May 2009. The provider of water treatment systems for steelmakers postponed a conference call originally scheduled yesterday to discuss third-quarter earnings, without giving a reason. Faruqi & Faruqi LLP, a New York-based securities firm, said it’s investigating the company on behalf of shareholders on possible violations of the federal securities laws and breaches of fiduciary duties by its officers.
Target Corp. (TGT US) rose 3.1 percent to $55.21. The second-largest U.S. discount retailer posted a profit, excluding a tax gain, of 68 cents a share, matching the average analyst estimate.
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