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.
Assured Guaranty Ltd. (AGO) slumped 5.8 percent to $16.07, the lowest price since Sept. 1. The municipal-bond insurer fell after Standard & Poor’s proposed changing the way it grades bond insurers in ways that could lead to S&P reducing its ratings on some companies.
Bank of America Corp. (BAC US) fell 2.3 percent to $13.92, the lowest price since Dec. 31. The biggest U.S. lender may book an $8.5 billion charge on costs to resolve disputes over faulty mortgages, a figure at the upper end of the range the company gave last week, according to Oppenheimer & Co.
Bridgepoint Education Inc. (BPI) climbed 5.2 percent, the most since Dec. 10, to $18.13. The for-profit provider of college classes said its regionally accredited academic institution, Ashford University, received the Final Audit Report from the U.S. Department of Education’s Office of the Inspector General about the University’s administration of Title IV and Higher Education Act programs. The OIG reduced the number of recommendations and the scope of those recommendations, according to Andrew Clark, chief executive officer of the company.
Cabela’s Inc. (CAB) climbed 9.9 percent to $23.79, the highest price since October 2007. The maker of hunting, fishing and camping gear was raised to “overweight” from “neutral” by Piper Jaffray Cos.
Casella Waste Systems Inc. (CWST) jumped 20 percent to $7.54, the highest price since October 2008. The trash hauler agreed to sell some recycling assets for $130.4 million to Pegasus Capital Advisors LP and Intersection LLC.
Clinical Data Inc. (CLDA US) surged 62 percent to $24.31 for the biggest gain in the Russell 2000 Index. The drug development company said in a statement that the U.S. Food and Drug Administration approved its Vilazodone HC1 tablets to treat adults with some types of depression.
First Solar Inc. (FSLR) climbed 6.1 percent to $156.40, the highest price since October 2009. The world’s biggest maker of thin-film solar modules was added to the conviction-buy list at Goldman Sachs Group Inc. Separately, the company received a Vietnamese investment permit to build a $1 billion factory in Ho Chi Minh City, Thoi Bao Kinh Te newspaper reported, without saying where it got the information.
FX Energy Inc. (FXEN) jumped 11 percent to $8.05, the highest price since September 2008. The oil company rose after it reported “excellent” results at a gas well in Poland while saying it still needs to do more investigation before it can confirm the presence of a commercial gas deposit, according to Andy Pierce, vice president of operations. FX Energy owns a 49 percent working interest in the well.
Genoptix Inc. (GXDX US) increased 26 percent, the most since October 2007, to $24.86. The cancer-testing company said it will be acquired by Novartis AG (NOVN) for about $470 million in cash. Novartis will offer $25 a share for all outstanding common stock of the Basel-Switzerland-based company, according to a company statement.
J.C. Penney Co. (JCP) rose 7.2 percent, the most since Oct. 7, to $32.52. The third-largest U.S. department store chain named William Ackman to its board after the activist investor became its biggest shareholder.
Nvidia Corp. (NVDA) added 11 percent to $24.73 for the biggest increase in the Standard & Poor’s 500 Index. The maker of computer-graphics chips may climb as much as 80 percent in the next year on the success of its Tegra processor in the tablet computer and smartphone markets, Barron’s reported, without citing anyone.
OmniVision Technologies Inc. (OVTI) slipped 7.8 percent, the most since December 2009, to $26.15. The maker of image sensors for camera phones was cut to “neutral” from “outperform” by Robert W. Baird & Co.
Quanta Services Inc. (PWR) rose 6.7 percent to $23.40, the highest price since September 2009. The U.S. builder of power lines is “well positioned” to win projects in coming months that could add more than $500 million in backlogs, BB&T Corp. said in a note to clients. The firm boosted Quanta’s share-price estimate to $28 from $23.
RadioShack Corp. (RSH) fell the most in the S&P 500, dropping 11 percent to $15.62. The consumer-electronics retailer forecast fourth-quarter profit excluding some items of 54 cents a share at most, below the average analyst estimate of 66 cents in a Bloomberg survey. RadioShack also said Chief Executive Officer Julian Day plans to retire in May.
Smurfit-Stone Container Corp. (SSCC US) jumped 27 percent to $35. RockTenn Co. (RKT) agreed to buy the maker of material for cardboard boxes for $3.5 billion, creating North America’s second-biggest containerboard producer. RockTenn bid $35 a share in cash and stock for Smurfit-Stone, 27 percent more than Smurfit-Stone’s closing price on Jan. 21. RockTenn gained 3.7 percent to $59.31.
Other producers of pulp and papers also gained. International Paper Co. (IP) advanced 3.2 percent to $28.81. Packaging Corp of America (PKG US) added 1.8 percent to $28.89. Temple-Inland Inc. (TIN US) climbed 5.3 percent to $23.93. MeadWestvaco Corp. (MWV) increased 3.9 percent to $28.49.
URS Corp. (URS) rose 5.5 percent to $44.38, the highest price since June 3. The design-and-engineering company was raised to “buy” from “neutral” at Gleacher & Co. The 12-month price estimate is $52 a share.
Willbros Group Inc. (WG) climbed 15 percent, the most since February 2009, to $11.48. The oil-industry contractor was raised to “overweight” from “equal-weight” at Johnson Rice.
World Wrestling Entertainment Inc. (WWE) fell 7.3 percent to $12.51, the lowest since June 2009. The wrestling entertainment company forecast fourth-quarter profit excluding some items of 10 cents a share at most. On average, the analysts surveyed by Bloomberg estimated earnings of 17 cents.
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