Micron, Pharmasset, Sprint Nextel, Teradyne: U.S. Equity Movers

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.

Semiconductor stocks fell as the group was cut to “market weight” from “overweight” at Wells Fargo Securities.

Micron Technology Inc. (MU) dropped 5.2 percent to $11.03. Broadcom Corp. (BRCM) slipped 3.1 percent to $40.74. Teradyne Inc. (TER) fell 5.4 percent to $17.96. Applied Materials Inc. (AMAT) sank 4.6 percent to $15.96.

Atlas Pipeline Partners LP (APL) rose 4.8 percent to $30.31, the highest price since September 2008. The natural-gas pipeline operator was raised to “overweight” at Morgan Stanley.

Brinker International Inc. (EAT) gained 4.3 percent to $24.85, the highest price since November 2007. The operator of Chili’s and Maggiano’s restaurants was raised to “buy” from “neutral” at UBS AG.

Ciena Corp. (CIEN) dropped the most in the Russell 1000 Index, sliding 9.7 percent to $25.98. The maker of network gear for the biggest U.S. phone companies forecast second-quarter revenue of no more than $435 million, missing the average analyst estimate of $437.3 million.

JDS Uniphase Corp. (JDSU) fell 6.9 percent to $25.49, the most in the Standard & Poor’s 500 Index.

IntercontinentalExchange Inc. (ICE) rallied 3.4 percent to $134.72, the highest price since June 2008. The spike in oil prices caused by the reduction in Libyan crude shipments is driving hedging volumes in oil futures, according to Brad Hintz, an analyst at Sanford C. Bernstein & Co. “ICE is most reliant on energy volumes,” Hintz said in response to an e-mail from Bloomberg.

James River Coal Co. (JRCC) jumped 15 percent, the most since May 2009, to $23.21. The owner of mines in Kentucky and Indiana is buying International Resource Partners LP for $475 million to boost coal output and shipping.

MasTec Inc. (MTZ) advanced 2.3 percent to $19.41, the highest price since February 2001. The contractor was boosted to “outperform” from “neutral” at Credit Suisse Group AG.

Pharmasset Inc. (VRUS) surged 24 percent to a record $61.95. The drugmaker’s two-pill combination treatment for hepatitis C reduced the virus to undetectable levels in 94 percent of patients after two weeks, according to Jason Zhang, an analyst with BMO Capital Markets.

Repligen Corp. (RGEN) fell 28 percent, the most since January 2004, to $3.54. The biotechnology company said its clinical trial of RG2417, an oral formulation of uridine, for patients with bipolar depression, didn’t show statistically significant improvement compared with a placebo.

Savvis Inc. (SVVS) rose 5 percent, the most since Jan. 28, to $34.88. The provider of technology services to companies has hired to Qatalyst Partners as a financial adviser, PE Hub reported, citing three identified people. Savvis is in talks with several potential buyers, one person said, according to the report.

Sprint Nextel Corp. (S) rose 3.2 percent to $4.48 for the biggest gain since Feb. 10. The third-largest U.S. mobile- phone carrier was raised to an “outperform” from “sector perform” by Steve Clement, an analyst at Pacific Crest Securities Inc.

St. Joe Co. (JOE US) dropped 4.3 percent to $26.24, the first decline in four days. The Florida landowner hasn’t been able to generate significant sales from its holdings in Florida’s depressed economy, Barron’s reported. The company named Bruce Berkowitz, its largest shareholder, as chairman on March 4, eliminated an anti-takeover provision and said Chief Executive Officer Britt Greene resigned.

TomoTherapy Inc. (TOMO) rose the most in the Russell 2000 Index, surging 25 percent to $4.57. The maker of radiation- therapy systems to treat cancer agreed to be bought by Accuray Inc. (ARAY) for $277 million, or $4.80 a share. Accuray fell 10 percent to $9 for the third-biggest loss in the Russell 2000 Index.

Western Digital Corp. (WDC) surged 16 percent to $34.68 for the biggest increase in the S&P 500. The U.S. marker of hard-disk drives agreed to buy a rival unit of Hitachi Ltd. for about $4.3 billion in cash and stock to expand its storage produce line-up.

Seagate Technology Plc (STX) , the world’s largest maker of computer disk drives, rose 9 percent to $13.56.

WMS Industries Inc. (WMS) declined 7.6 percent, the most since October 2009, to $36.38. The maker of Monopoly and Wizard of Oz slot machines was cut to “sell” from “neutral” at Goldman Sachs Group Inc.

To contact the reporter on this story: Inyoung Hwang in New York at ihwang7@bloomberg.net.

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net

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