Apple, Cisco, Diamond Foods, Microsoft: U.S. Equity Preview

Shares of the following companies may have unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 9 a.m. in New York.

Apple Inc. (AAPL) fell 1.5 percent to $335.93. The iPhone maker’s weighting in the Nasdaq-100 Index was cut to 12.33 percent from 20.49 percent as the technology-heavy equity gauge had its first major reshuffle since 1998.

Microsoft Corp. (MSFT) advanced 1.6 percent to $25.95. Cisco Systems Inc. (CSCO) jumped 0.9 percent to $17.22. Both companies’ weightings will more than double.

Cree Inc. (CREE) dropped 3.2 percent to $44.24. The maker of energy-efficient lighting products was cut to “underweight” from “equal-weight” at Morgan Stanley.

Cubist Pharmaceuticals Inc. (CBST) jumped 15 percent to $29.05. The maker of the antibiotic Cubicin settled its patent litigation with Teva Pharmaceutical Industries Ltd. (TEVA IT) with a licensing agreement allowing Teva to distribute a generic version of the antibiotic.

Diamond Foods Inc. (DMND) rose 9.2 percent to $62.51. The company agreed to buy the Pringles chip business from Procter & Gamble Co. (PG) for $1.5 billion in stock and assumption of $850 million in debt. Procter & Gamble increased 0.2 percent to $62.39.

Duoyuan Global Water Inc. (DGW) slumped 14 percent to $3.43. The Chinese water-treatment equipment supplier said Chief Financial Officer Stephen C. Park will leave the company to “pursue another professional opportunity.”

Expedia Inc. (EXPE) rose 5.1 percent to $23.58. American Airlines ticket sales will resume through the online travel agency and its Hotwire unit under a tentative agreement to resolve a dispute that began in December.

Express Inc. (EXPR) : The apparel retailer said some stockholders plan to sell 16.5 million shares of stock. The company won’t receive any proceeds.

Golar LNG Ltd (GOL) fell 1.7 percent to $28.05. The Hamilton, Bermuda-based shipper of liquefied natural gas may pay Samsung Heavy Industries Co. (010140 KS) to build four liquefied natural gas ships, which may be worth about $800 million in total, Edaily reported, citing an unidentified industry official.

Google Inc. (GOOG) slipped 0.9 percent to $582.55. The U.S. Federal Trade Commission is considering a broad antitrust investigation of the company’s dominance of the Internet-search industry, two people familiar with the matter said.

Ivanhoe Energy Inc. (IVAN) : The Canadian oil and natural gas producer announced “positive” gas flows at a well in China’s Sichuan province.

JA Solar Holdings Co. (JASO US) gained 2 percent to $6.70. The Shanghai-based company said it agreed to supply Jabil Circuit Inc. (JBL US) with 400 megawatts of solar cells for the next two years.

National Semiconductor Corp. (NSM) rallied 72 percent to $24.13. Texas Instruments Inc. (TXN) , the second-largest U.S. chipmaker, agreed to buy the Santa Clara, California-based chipmaker for about $6.5 billion, its biggest acquisition as it expands its leadership in analog semiconductors. Texas Instruments will pay $25 a share in the all-cash transaction, a 78 percent premium to National Semiconductor’s closing price of $14.07.

Advanced Micro Devices Inc. (AMD) rose 1.9 percent to $8.25. Analog Devices Inc. (ADI) climbed 1.3 percent to $39. Intel Corp. (INTC) added 0.6 percent to $19.60. Intersil Corp. (ISIL) jumped 6.3 percent to $12.88. Marvell Technology Group Ltd. (MRVL) increased 2.1 percent to $15.85. Micron Technology Inc. (MU) rose 1 percent to $11.30. Nvidia Corp. (NVDA) climbed 1.6 percent to $17.83.

Prospect Capital Corp. (PSEC) declined 5 percent to $11.54. The debt and private equity firm said it estimates a third-quarter net investment income of 25 cents to 27 cents a share. That compares with a previous estimate for 24 cents to 30 cents a share.

Questcor Pharmaceuticals Inc. (QCOR) soared 14 percent to $17. The developer of a treatment for seizures in infants said first-quarter preliminary first-quarter gross sales were $48.6 million and the company saw a 115 percent increase in paid prescriptions for its H.P. Acthar Gel for multiple sclerosis treatment, compared with the year-ago period.

Schnitzer Steel Industries Inc. (SCHN) rose 0.7 percent to $66.50. The Portland, Oregon-based scrap-metal recycler said second-quarter earnings beat the average analyst estimate, according to Bloomberg data.

Team Inc. (TISI) : The provider of industrial services posted third-quarter revenue and earnings that missed the average estimates of analysts surveyed by Bloomberg.

To contact the reporters on this story: Inyoung Hwang in New York at ihwang7@bloomberg.net; Jeff Kearns in New York at jkearns3@bloomberg.net

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

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