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. New York time.
Life insurers declined after Wells Fargo & Co. lowered its earnings estimates for the industry, citing a drop in equity prices during the third quarter. MetLife Inc. (MET) slid 4.6 percent to $31.51. Principal Financial Group Inc. (PFG) fell 3.8 percent to $24.53. Lincoln National Corp. (LNC) erased 3.4 percent to $18.54.
Solar shares fell after SMA Solar Technology AG (S92) , Germany’s biggest solar-power company by market value, reduced its profit forecast amid weaker-than-expected demand for rooftop systems. MEMC Electronic Materials Inc. (WFR US) slumped 3.4 percent to $6.82. First Solar Inc. (FSLR) decreased 2.1 percent to $83.91.
Chinese solar companies fell after JinkoSolar Holding Co. (JKS) idled a factory that environmental regulators said may have polluted a river. JinkoSolar plunged 28 percent to $6.50. Yingli Green Energy Holding Co. (YGE) declined 7 percent to $3.57. LDK Solar Co. (LDK US) fell 6.8 percent to $4.66. Suntech Power Holdings Co. (STP US) slipped 3 percent to $3.57.
Advanced Analogic Technologies Inc. (AATI US) fell 15 percent to $3.98, the lowest price since May 26. The maker of power-management chips delayed a merger with Skyworks Solutions Inc. (SWKS) till the fourth quarter, after receiving a notice of breach, according to a regulatory filing. Skyworks lost 2.2 percent to $21.59.
Applied Materials Inc. (AMAT) declined 2.9 percent to $11.23 for its biggest decline since Aug. 25. The world’s largest producer of chipmaking equipment was cut to “sell” from “neutral” at Goldman Sachs Group Inc., which cited the potential for excess supply and a decrease in orders in the industry.
Artio Global Investors Inc. (ART US) fell 9.3 percent to $7.51 the lowest price since its initial public offering in September 2009. The New York-based asset manager was cut to “sell” from “neutral” at Ticonderoga Securities LLC, which cited increasing outflows, the company’s holdings in Europe and currency risk.
Cabot Corp. (CBT) slumped 5.7 percent, the most since Aug. 18, to $31.42. The maker of carbon black used in rubber tires was cut to “hold” from “buy” at Jefferies & Co., which said demand will be “choppy” and the stock’s valuation may be more attractive over the next three to six months.
Goodrich Corp. (GR US) rose 16 percent, the most in the Standard & Poor’s 500 Index, to $107.60. United Technologies Corp. (UTX) is in talks to buy the aerospace equipment maker as it looks to expand through a major acquisition, according to three people with knowledge of the matter.
Lennar Corp. (LEN) gained 4.9 percent, the most since Aug. 29, to $14.47. The third-largest U.S. homebuilder by revenue reported sales for the quarter ending in August that beat the average analyst estimate by 3.7 percent, according to Bloomberg data.
Mako Surgical Corp. (MAKO US) climbed 12 percent to $40.48, the biggest gain in the Russell 2000 Index. The maker of orthopedic surgery devices said its MAKOplasty Total Hip Arthroplasty application is available. The system provides pre-operative 3-D hip reconstruction used to develop a patient-specific plan, the company said.
Momenta Pharmaceuticals Inc. (MNTA) plunged 31 percent to $12.30, the biggest decline in the Russell 2000. U.S. regulators approved a generic version of Sanofi’s Lovenox blood thinner that competes with the Cambridge, Massachusetts-based drugmaker.
Watson Pharmaceuticals Inc. (WPI US), a partner to closely held Amphastar Pharmaceuticals Inc. whose Lovenox copy was approved, rose 3.1 percent to $69.38.
NYSE Euronext (NYX US) lost 5.2 percent, the most since Aug. 18, to $26.28. The owner of the New York Stock Exchange fell as the New York City Police Department arrested at least seven protesters in the first three days of a demonstration on Wall Street targeting financial firms.
Pharmaceutical Product Development Inc. (PPDI US) slipped 4.1 percent, the most since Aug. 18, to $27.37. The clinical research company said it named Raymond H. Hill, previously a president at IMS Health Inc.’s consulting group, chief executive officer.
Stein Mart Inc. (SMRT) declined 8 percent, the most since Aug. 18, to $6.56. The clothing retailer said Chief Executive Officer David H. Stovall Jr. retired. The company named Chairman Jay Stein as interim CEO.
Tyco International Ltd. (TYC) rallied 2.4 percent to $44.75, the highest price since July 28. Tyco plans to break itself into three publicly traded companies, ending a decade when Chief Executive Officer Ed Breen transformed the scandal-plagued company into one that performed better than the S&P 500 Index.
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