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.
Industrial machinery makers gained after the Institute for Supply Management-Chicago Inc.’s business barometer unexpectedly rose to 61.1 in June from 56.6 a month earlier. Figures greater than 50 signal expansion. Joy Global Inc. (JOYG) rose 5.7 percent, the most in the Standard & Poor’s 500 Index, to $95.24. Caterpillar Inc. (CAT) jumped 3 percent to $106.46. Terex Corp. (TEX) gained 4.6 percent to $28.45.
Fertilizer producers declined after the U.S. Department of Agriculture said U.S. farmers sowed more acres with corn than forecast in March and inventories at the beginning of this month were larger than analysts expected. CF Industries Holdings Inc. (CF) had the biggest retreat in the Standard & Poor’s 500 Index, losing 5.1 percent to $141.67. Mosaic Co. (MOS) slipped 1 percent to $67.73.
Bank of America Corp. (BAC) declined 1.6 percent, the biggest drop in the Dow Jones Industrial Average, to $10.96. The largest U.S. bank by assets cut about 60 positions in its equity-sales and trading division this month, two people with knowledge of the decision said. The bank was also replaced by MetLife Inc. in a mortgage-distribution deal with KB Home (KBH US) that will offer access to younger borrowers.
Cell Therapeutics Inc. (CTIC) retreated 20 percent to $1.58 for the second-biggest retreat in the Russell 2000 Index. The drugmaker said it will sell $30 million shares of preferred stock and warrants to purchase shares of its common stock to six institutional investors.
Ebix Inc. (EBIX) sank 6.4 percent, the most since May 10, to $19.05. The business software provider whose acquisitions have made it one of the fastest growing small-cap companies inflated earnings by overstating accounts receivable, according to an executive who sued Ebix after it bought his firm.
First Solar Inc. (FSLR) rose 2.2 percent to $132.27, the highest price since May 3 for the second-biggest gain in the Standard & Poor’s 500 Index. The world’s largest maker of thin- film solar modules won $4.5 billion in conditional loan guarantees from the U.S. Energy Department for three projects it’s developing in California.
Hanmi Financial Corp. (HAFC) surged 18 percent, the most in the Russell 2000 Index, to $1.07. The holding company for Hanmi Bank in Southern California decided not to proceed with a common stock offering based on dissatisfaction with current pricing, the company said in a statement.
Hansen Medical Inc. (HNSN) jumped 13 percent, the second biggest gain in the Russell 2000, to $3.41. Piper Jaffray Cos. Inc. upgraded the maker of medical robotics “overweight” from “neutral” with a share-price estimate of $5, citing its new Magellan endovasular robotic system.
Hewlett-Packard Co. (HPQ) climbed 2.4 percent, the most since March 24, to $36.40. The world’s largest maker of person computers is being urged by private equity firms including Blackstone Group (BX US) to break up and sell some units to them, Reuters reported, citing people familiar with the matter.
Intel Corp. (INTC) gained 3.6 percent to $22.16 for the biggest gain in the Dow Jones Industrial Average Index. Evercore Partners Inc. analyst Patrick Wang started coverage of the world’s largest chipmaker with an “equal-weight” rating and a share-price estimate of $24, citing a “healthy cash flow,” stock buybacks and a “robust” dividend yield.
Lynas Corp. (LYSCF US) fell 11 percent, the most since March 15, to $1.92. The Sydney-based company said its Malaysian rare-earth refinery may be delayed by a government review that called for higher safety standards, limiting supply of rare earths.
Other rare-earth stocks rallied. Molycorp Inc. (MCP) , the owner of the largest deposits outside China, rose 7.1 percent to $61.06 for the biggest advance in the Russell 1000 Index. Avalon Rare Metals Inc. (AVL) added 6.6 percent to $6.95. Rare Element Resources Ltd. (REE) climbed 5.6 percent to $11.09. Quest Rare Minerals Ltd. (QRM) jumped 5 percent to $6.91.
NetApp Inc. (NTAP) rose 5.6 percent to $52.78 for the second-biggest gain in the S&P 500. The data-management company forecast 2012 earnings per share of $2.46 to $2.62, compared with analysts’ estimates of $2.48.
Syntroleum Corp. (SYNM) sank 26 percent to $1.47, the biggest decline in the Russell 2000 Index. The developer that converts natural gas into liquid fuels announced the pricing of 15.9 million shares at $1.58 each.
United Technologies Corp. (UTX) jumped 2.4 percent, the most since April 20, to $88.51. The jet engine maker’s Pratt & Whitney unit and Korean Air Lines Co. will build a 120 billion won ($112 million) plane-engine maintenance center at Incheon airport, near Seoul.
Usana Health Sciences Inc. (USNA) gained 7.9 percent, the most since Oct. 27, to $31.28. The vitamin maker said second-quarter adjusted profit will be at least 79 cents a share, beating the average analyst estimate of 71 cents a share in a Bloomberg survey.
Usec Inc. (USU) rose 5 percent, the most since June 21, to $3.34. The uranium company entered into an agreement with investors Toshiba Corp. and Babcock & Wilcox Investment Co. that gives it extra time to get a conditional commitment from the U.S. Department of Energy for a $2 billion loan guarantee to build a uranium enrichment plant.
Worthington Industries Inc. (WOR) jumped 9.8 percent, the most since January 2010, to $23.10. The steel fabricator boosted its quarterly dividend to 12 cents a share from 10 cents and said it will buy back up to 10 million shares.
To contact the reporter on this story: Victoria Stilwell in New York at email@example.com
To contact the editor responsible for this story: Nick Baker at firstname.lastname@example.org