Fairchild, Ness, Timberland, Transatlantic: U.S. Equity Movers

Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 9:36 a.m.

Bemis Co. (BMS US) declined 2.1 percent to $31.92. Goldman Sachs Group Inc. (GS) cut its rating on shares of the maker of packaging and pressure-sensitive materials to “sell” from “neutral.”

Fairchild Semiconductor International Inc. (FCS) slid 4.1 percent to $16. The San Jose, California-based chipmaker was cut to “neutral” from “outperform” at Robert W. Baird & Co., which said it expects a decline in semiconductor orders this quarter.

Gilead Sciences Inc. (GILD) slumped 1.3 percent to $39.71. The world’s biggest seller of AIDS medicines said the U.S. Justice Department is investigating the company’s drug production and distribution. Cara Miller, a Gilead spokeswoman, declined to comment beyond the company’s statement and regulatory filing.

Goldman Sachs Group Inc. (GS US), JPMorgan Chase & Co. (JPM) and Citigroup Inc. (C) are among banks that may climb 25 percent or more as their shares now trade near or below book value, Barron’s reported, citing analysts.

Goldman Sachs rose 0.6 percent to $136.72. JPMorgan advanced 0.5 percent to $41.27. Citigroup climbed 0.7 percent to $38.18.

MetLife Inc. (MET) increased 0.5 percent to $41.10. The biggest U.S. life insurer said storms in April and May cost as much as 6.7 times the company’s provision for such expenses at the home and auto business.

Ness Technologies Inc. (NSTC) jumped 14 percent to $7.61. The computer-services provider said it agreed to be acquired by an affiliate of Citi Venture Capital International in a cash transaction valued at about $307 million.

Red Robin Gourmet Burgers Inc. (RRGB) fell 0.2 percent to $34.22. The restaurant operator may be overvalued as a slower-than-expected economic recovery holds back consumers who enjoy casual dining, Barron’s reported in its “The Trader” column.

Temple-Inland Inc. (TIN) rose 0.2 percent to $29.72. The corrugated cardboard maker facing a hostile takeover may seek new bidders after it rejected International Paper Co.’s proposal, Barron’s said in its “The Trader” column.

Timberland Co. (TBL) surged 42 percent to $42.72. The maker of outdoor clothing and footwear agreed to be acquired by VF Corp. (VFC), the world’s largest apparel maker, for $43 a share. Shares of VF (VFC US) rose 12 percent to $102.36.

Transatlantic Holdings Inc. (TRH) advanced 12 percent to $49.15. The reinsurer, formerly owned by American International Group Inc., and Switzerland’s Allied World Assurance Company Holdings AG agreed to merge in a $3.2 billion deal that creates a reinsurer with operations in 18 countries.

TTM Technologies Inc. (TTMI) rose 7.1 percent to $14.32. The maker of printed circuit boards was raised to a “strong buy” from “buy” at Needham & Co.

Wendy’s/Arby’s Group Inc. (WEN US) climbed 5.3 percent to $4.76. Roark Capital Group, an Atlanta-based private-equity firm, agreed to buy a controlling stake in the third-largest U.S. fast-food chain’s Arby’s business in a transaction valued at $430 million. Wendy’s/Arby’s Group will retain an 18.5 percent interest, the companies said today in a statement.

To contact the reporters on this story: Tori Stilwell in New York at vstilwell@bloomberg.net; 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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