Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 9:40 a.m. in New York.
Alimera Sciences Inc. (ALIM US) sank 15 percent to $9.53. The biopharmaceutical company received a complete response letter from the U.S. Food and Drug Administration, delaying its decision on the approval of Iluvien for diabetic macular edema.
Cal-Maine Foods Inc. (CALM US) fell 3.9 percent to $32.50. The egg producer reported second-quarter earnings excluding some items of 63 cents a share, missing the estimate of 74 cents in a Bloomberg survey with two analysts.
Cisco Systems Inc. (CSCO US) rose 0.8 percent to $19.84. The largest maker of networking equipment may rise as demand for the equipment grows and the company initiates a dividend, Barron’s reported.
Goldman Sachs Group Inc. (GS US) rose 0.4 percent to $168.33. The bank said it may grant bonuses that depend on future earnings in addition to stock performance amid pressure from regulators to design pay packages for top employees that would discourage excessive risk-taking.
H&R Block Inc. (HRB US) fell 6.2 percent to $11.90. The U.S. tax preparer said an “11th-hour” decision by U.S. regulators prevents a lending partner from offering tax-refund loans and that it’ll be hard to fully roll out alternative products in time for the 2011 season. The Office of the Comptroller of the Currency told HSBC Holdings Plc not to make refund-anticipation loans, prompting the bank to end an exclusive contract with H&R Block three years early, the tax preparer said in a statement.
Magnum Hunter Resources Corp. (MHR US) dropped 4.2 percent to $6.44. The oil and natural gas explorer will acquire NGAS Resources Inc. (NGAS US) in an all-stock transaction. NGAS holders will get 0.0846 shares of Magnum Hunter per share.
NGAS surged 27 percent to 49 cents.
Netflix Inc. (NFLX US) slid 2.7 percent to $179.69. The DVD-rental and streaming company may fall as higher charges for acquiring movies hurts profitability, Barron’s reported.
Regeneron Pharmaceuticals Inc. (REGN US) slipped 0.6 percent to $33.29. The Tarrytown, New York-based drugmaker said in a filing that U.S. regulators halted development of an experimental pain killer it’s developing with Sanofi-Aventis SA after a similar treatment caused the death of bone tissue in another drugmaker’s study.
Sierra Wireless Inc. (SWIR US) climbed 5.3 percent to $14.08. Shares of the maker of wireless modems for personal computers are cheap and may rise as growth in 4G and other mobile devices boosts demand for its technology, Barron’s said in its “The Trader” column.
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