Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 9:53 a.m. in New York.
Amylin Pharmaceuticals Inc. (AMLN) surged 11 percent to $12.48 and advanced 13 percent earlier in the biggest intraday climb since June 18. The San Diego-based drugmaker won the backing of a European Medicines Agency panel for Bydureon, a weekly diabetes medicine.
Assured Guaranty Ltd. (AGO) jumped 19 percent to $16.80 and rallied 22 percent earlier for the biggest intraday increase since November 2009. Bank of America Corp. (BAC US) will pay $1.1 billion to settle the Hamilton, Bermuda-based bond insurer’s demands that the lender buy back faulty mortgages, according to a statement from Assured.
Bronco Drilling Co. (BRNC US) rose 6.5 percent to $11.08. Chesapeake Energy Corp. agreed to buy the Edmond, Oklahoma-based oil-drilling services company for $316.8 million in cash to add at least 22 onshore rigs, ramping up capacity to produce oil and petroleum liquids.
Cirrus Logic Inc. (CRUS) retreated 10 percent to $16.27, after an 11 percent rally earlier, the biggest intraday climb since Oct. 21. The supplier of parts for Apple Inc.’s (AAPL US) iPhone and iPad said fourth-quarter gross margin was 50 percent, missing its earlier forecast of at least 54 percent.
Cubist Pharmaceuticals Inc. (CBST) gained 4.2 percent to $31.65, the highest intraday price since January 2002. The Lexington, Massachusetts-based company that develops drugs to treat infections reported first-quarter earnings excluding some items of 55 cents a share, beating the average analyst estimate by 19 percent, Bloomberg data show.
Google Inc. (GOOG) slumped 6.4 percent to $541.48, after falling 7 percent, the biggest intraday slip since July 16 and the most in the S&P 500. The world’s largest Internet-search company reported first quarter profit that missed analysts’ estimates after spending more on hiring and marketing to ward off competition from Facebook Inc. and Apple Inc. (AAPL)
Infosys Technologies Ltd. (INFO) declined 12 percent to $63.99, after dropping 13 percent, the most intraday since September 2008. India’s No. 2 software exporter forecast sales that trailed analysts’ estimates and reported fourth-quarter profit that missed expectations.
Mattel Inc. (MAT) climbed 5.5 percent to $27.16, the biggest advance in the Standard & Poor’s 500 Index. The maker of Barbie dolls posted first-quarter earnings excluding some items that exceeded analysts’ average estimate by 6.4 percent, Bloomberg data show.
Melco Crown Entertainment Ltd. (MPEL) advanced 5.8 percent to $9.19 after climbing to $9.27, the highest intraday price since July 2008. The venture between an Australian billionaire and a son of Macau casino magnate Stanley Ho was raised to “buy” from “neutral” at Bank of America Merrill Lynch, which cited “sustainable improvement” in the City of Dreams casino’s performance.
Merck & Co. (MRK US) gained 2.5 percent to $34.69 for the biggest rally in the Dow Jones Industrial Average. The second- biggest U.S. drugmaker retained limited rights to a share of revenue from the arthritis drug Remicade after a settlement ended its dispute with partner Johnson & Johnson.
StanCorp Financial Group Inc. (SFG) dropped 6.5 percent to $42.42 after losing 7.3 percent, the most intraday since Jan. 28. The provider of insurance and retirement plans forecast first-quarter adjusted earnings to be no more than 77 cents a share, missing the average analyst estimate of $1.19.
Transocean Ltd. (RIG) fell 3.1 percent to $75.54 and fell 3.7 percent earlier, the most intraday since March 15. The offshore oil driller was cut to “market perform” from “market outperform” at Howard Weil Inc. after releasing a fleet status report.
Urban Outfitters Inc. (URBN) declined 3.1 percent to $30.33, the second-biggest drop in the S&P 500. The clothing retailer that uses brands including Anthropologie was cut to “underperform” from “hold” at Jefferies & Co., after Stephen Murray left his post as global president of the Urban Outfitters brand yesterday, leaving “even more uncertainty” about the company’s product direction.
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