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Cheesecake Factory, DragonWave, Marathon: 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 9:45 a.m. in New York.

American Capital Agency Corp. (AGNC US) slumped 1.5 percent to $29.25. The Bethesda, Maryland-based real estate investment trust plans to offer 18 million shares. The company also forecast fourth-quarter profits excluding some items to be at least $1.20 a share. Analysts estimated earnings of $1.21 on average.

Blackboard Inc. (BBBB US) slid 3.4 percent to $39.27. The maker of software used by colleges to put lectures online completed its acquisition of the remaining 90 percent of Presidium Inc. for about $53 million in cash, excluding transaction costs.

Cheesecake Factory Inc. (CAKE US) rose 3.2 percent to $30.34. The restaurant chain was raised to “buy” from “neutral” at Bank of America Corp.

China Green Agriculture Inc. (CGA US) fell 1.3 percent to $7.46. The Chinese fertilizer producer said it voluntarily provided a “comprehensive report on selected issues” to the U.S. Securities and Exchange Commission in response to an informal inquiry.

Deere & Co. (DE US) rose 2.3 percent to $89.50. The world’s largest farm-equipment maker was raised to “overweight” from “neutral” at JPMorgan Chase & Co. The 12-month share-price estimate is $100.

DragonWave Inc. (DRWI US) tumbled 18 percent to $7.14. The maker of wireless equipment forecast revenue of $15 million in the fiscal fourth quarter, trailing the average analyst estimate of $27.4 million in a Bloomberg survey.

E*Trade Financial Corp. (ETFC US) declined 2.2 percent to $16.11. The fourth-largest U.S. retail brokerage by client assets was cut to “neutral” from “buy” at Goldman Sachs Group Inc.

Infosys Technologies Ltd. (INFY US) dropped 6.4 percent to $71.77. India’s second-largest software-services exporter, posted third-quarter profit that missed analysts’ estimates, sending the shares to their biggest decline in more than 1 1/2 years in Mumbai trading.

ITT Corp. (ITT US) decreased 2 percent to $60.30. The maker of military night-vision goggles was cut to “neutral” from “buy” at SunTrust Robinson Humphrey. Cowen & Co. also downgraded the stock, reducing the rating to “neutral” from “outperform.”

Marathon Oil Corp. (MRO US) gained 9.5 percent to $44.36. The largest refiner in the U.S. Midwest will spin off its fuel- making business, creating two independent energy companies. The spinoff is expected to be effective June 30.

Mercury Computer Systems Inc. (MRCY US) rose 6.1 percent to $19.18. The Chelmsford, Massachusetts-based company acquired LNX Corp. for $31 million plus up to $5 million payable if financial targets this year and next year are met. Mercury also forecast second-quarter revenue will be $55.5 million, beating the $53.9 million projected by analysts.

Micron Technology Inc. (MU US) jumped 4.3 percent to $9.75. The largest U.S. maker of computer-memory chips was raised to “outperform” from “neutral” at Robert W Baird & Co. The 12- month share-price estimate is $15.

ON Semiconductor Corp. (ONNN US) climbed 1.6 percent to $11.55. The maker of chips that help computers manage power was raised to “buy” from “neutral” at Collins Stewart Plc. The 12-month share-price estimate is $14.

Texas Instruments Inc. (TXN US) fell 1.6 percent to $33.13. The second-largest U.S. chipmaker was downgraded to “hold” from “buy” at Jefferies Group Inc. with a 12-month price estimate of $35 a share.

TTM Technologies Inc. (TTMI US) gained 7.3 percent to $15.69. The maker of printed circuit boards forecast fourth- quarter profit excluding some items of at least 45 cents a share. On average, the analysts surveyed by Bloomberg estimated earnings of 37 cents.

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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