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.
Producers of pulp and papers slumped after Deutsche Bank AG said containerboard prices didn’t increase as previously estimated in August, citing Pulp & Paper Week, an industry publication.
International Paper Co. (IP US) slid 6.4 percent to $21.97. Packaging Corp of America (PKG US) tumbled 4.8 percent to $23.19. Rock-Tenn Co. (RKT US) declined 4.7 percent to $50. Smurfit-Stone Container Corp. (SSCC US) sank 2.8 percent to $19.79. Temple-Inland Inc. (TIN US) retreated 5.9 percent to $18.90.
Apple Inc. (AAPL US) gained 2.9 percent to $283.23, the highest price since it went public. Kaufman Brothers LP raised its share-price estimate for the maker of iPhones and iPads to $374 from $350, citing strong demand for the company’s tablet computer device.
Chelsea Therapeutics International Ltd. (CHTP US) surged 13 percent to $5.73, the highest price since September 2009. The biotechnology company reported that preliminary testing of its Northera drug showed improved symptoms associated with neurogenic orthostatic hypotension, a chronic drop in blood pressure upon standing.
Diamond Hill Investment Group (DHIL US) increased 19 percent, the most since March 2009, to $71.75. The investment management service provider said it will pay a special dividend of $13 a share to shareholders of record on Dec. 1, payable Dec. 15.
Discover Financial Services (DFS US) added 3.8 percent to $16.16, the highest price since April 23. The payments processor whose stock has outperformed its three larger U.S. rivals this year posted a third-quarter profit that exceeded Wall Street estimates as card spending increased. Discover reported a profit of 47 cents a share, which beat analysts’ predictions of 38 cents a share.
American Express Co. (AXP US), the biggest credit-card issuer by purchases, rose 4.2 percent to $43.12 for the biggest gain in the Dow Jones Industrial Average.
Internet Brands Inc. (INET US) rallied the most in the Russell 2000 Index, jumping 45 percent to $13.16. The operator of e-commerce sites agreed to be bought by Hellman & Friedman LLC, the private-equity firm co-founded by Warren Hellman, in a transaction valued at $640 million.
Intrepid Potash Inc. (IPI US) gained 4.7 percent to $27.70, the highest price since April 13. Fertilizer stocks advanced on a report Sinochem Group is seeking Chinese government support for a takeover offer of Potash Corp. of Saskatchewan Inc. to counter BHP Billiton Ltd.’s $40 billion bid. Mosaic Co. (MOS US) rose 2 percent to $60.96.
L-1 Identity Solutions Inc. (ID US) surged 20 percent, the most since October 2005, to $11.64. Safran SA, a French maker of aerospace engines and equipment, agreed to acquire most of the Stamford, Connecticut-based maker of security software for $1.6 billion, or $12 a share. L-1 also agreed to sell its counter- terrorism business to BAE Systems Plc for $296 million in cash.
Lennar Corp. (LEN US) jumped 8.2 percent, the most since May 10, to $15.14. The third-largest U.S. homebuilder reported third-quarter profit that beat analysts’ estimates. Earnings per share were 16 cents compared with an average estimate of 3 cents. The company said it had wider margins on house sales and growing revenue at its distressed-investing unit.
MGM Resorts International (MGM US) gained 7.8 percent, the most since May 27, to $10.87. The biggest casino owner on the Las Vegas strip said George Corchis will be president and chief operating officer of regional operations. He was formerly the president and COO of the company’s two Mississippi properties.
Netezza Corp. (NZ US) advanced 15 percent to $28.27, the highest price since its initial public offering in July 2007. The maker of a data-storage appliance will be acquired by International Business Machines Corp. for about $1.7 billion, or $27 a share.
Teradata Corp. (TDC US), another data-storage software company, rose 7.5 percent to $37.05.
Office Depot Inc. (ODP US) climbed the most in the S&P 500 by increasing 10 percent to $4.43. The second-largest U.S. office-supply chain is managing its balance sheet “effectively” while focusing on investment that will prepare the company for an economic recovery, Janney Montgomery Scott LLP said in a note after meeting with the management team.
Owens Corning Inc. (OC US) fell 4.2 percent to $23.71, the lowest price since March 19. The largest U.S. maker of insulation said U.S. market demand for roofing shingles will be approximately 10 percent lower in 2010 than in 2009.
Prestige Brands Holdings Inc. (PBH US) climbed 13 percent, the most since April 2009, to $8.87. The maker of Comet cleanser agreed to buy closely held Blacksmith Brands for $190 million to add over-the-counter brands including Luden’s throat drops and Efferdent denture cleaner.
Priceline.com Inc. (PCLN US) rose 3.7 percent to $347.47, the highest price since May 2000. Citigroup Inc. raised the second-biggest online travel agency’s target price to $425 from $325, and said it has best prospects for growth in online travel.
Rovi Corp. (ROVI US) rose 9.1 percent to $45.45, the highest price since August 2001. The digital entertainment technology company said it entered a multi-year licensing agreement with Apple Inc. (AAPL US).
ValueClick Inc. (VCLK US) climbed 9.4 percent, the most since September 2009, to $13.47. The Internet advertising company was upgraded to “buy” from “hold” at Benchmark Co.