Apple, KB Home, Morton’s, Peabody, Rambus: 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.

Homebuilders declined after housing starts in the U.S. fell more than forecast in February to the slowest pace since April 2009 and building permits slumped to a record low. KB Home (KBH) slid 3.8 percent to $12.71. Lennar Corp. (LEN) lost 2.9 percent to $19.12.

Some coal producers advanced after Jefferies & Co. said it expects increased coal demand after the Japanese nuclear disasters. Peabody Energy Corp. (BTU) rose 3.9 percent to $67.67. Arch Coal Inc. (ACI) advanced 1.4 percent to $34.15.

Apple Inc. (AAPL) declined 4.5 percent to $330.01, the lowest price since Jan. 24. The maker of the iPad and iPod was cut to “market perform” from “market outperform” at JMP Securities.

Astellas Pharma Inc. (ALPMY) dropped 9.9 percent, the most since December 2008 to $34.25. The Tokyo-based pharmaceutical company was sued by a drug wholesales over an alleged scheme to delay generic versions of immune-suppressant Prograf. Stan Neve, a spokesman for Astellas, didn’t immediately return a phone call seeking comment.

Entegris Inc. (ENTG) slipped 4.3 percent to $7.17, the lowest price since Jan. 26. The maker of packaging equipment to transport semiconductors was cut to “neutral” from “buy” at Dougherty & Co.

International Business Machines Corp. (IBM) declined 3.8 percent to $153 for the biggest loss in the Dow Jones Industrial Average. The computer services company was cut to “market perform” from “outperform” at Sanford C. Bernstein & Co.

Kodiak Oil & Gas Corp. (KOG) climbed 6.5 percent, the most since Feb. 23, to $6.43. The oil and natural gas explorer in the western U.S. was raised to “outperform” from “neutral” at Robert W Baird & Co. with a 12-month price estimate of $8 a share.

Morton’s Restaurant Group Inc. (MRT US) surged 12 percent, the most since Oct. 25, to $7.20. The Chicago-based steakhouse chain said it’s exploring strategic alternatives, including a potential sale.

Online Resources Corp. (ORCC US) tumbled 39 percent to $3.71 for the biggest retreat in the Russell 2000 Index. The maker of Internet banking software said it’s no longer considering potential business combinations because “the completion of a transaction on acceptable terms was unlikely.”

Rambus Inc. (RMBS) climbed 4 percent, the most since May 21, to $19.52. The company that sells technology used in computer memory renewed its five-year agreement with Toshiba Corp. Rambus receives royalty payments based on shipments in the agreement, which covers DRAM memory controllers.

Sterling Construction Co. (STRL) climbed 12 percent, the most since March 2009, to $14.54. The company specializing in highway paving, bridge and sewer reported fourth-quarter earnings and revenue that exceeded the average estimates of analysts surveyed by Bloomberg.

Superior Industries International Inc. (SUP) climbed 11 percent, the most since February 2009, to $21.32. The maker of automaker parts posted quarterly earnings and sales that exceeded the average analyst projections, Bloomberg data show.

Universal Display Corp. (PANL US) rallied 19 percent, the most since December 2008, to 45.46. The developer of technologies used in flat panels posted fourth-quarter revenue that exceeded the average forecast of analysts surveyed by Bloomberg.

Vera Bradley Inc. (VRA) jumped 14 percent, the most since Oct. 21, to $38.41. The maker of women’s handbags reported fourth-quarter earnings per share that exceeded the average analyst estimate by 43 percent, on an adjusted basis, according to data compiled by Bloomberg.

To contact the reporter on this story: Whitney Kisling in New York at wkisling@bloomberg.net.

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

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