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.
American Railcar Industries Inc. (ARII US) gained 8.9 percent to $19.04, the highest price since Aug. 11. The railroad equipment maker was raised to “outperform” from “market perform” at Morgan Keegan Inc.
Barnes & Noble Inc. (BKS US) jumped 11 percent, the most since Aug. 4, to $14.69. William Ackman’s hedge fund, Pershing Square Capital Management LLP, offered to finance Borders Group Inc.’s purchase of the largest U.S. bookstore chain for $16 a share.
Borders (BGP US) rose the most in the Russell 2000 Index, surging 29 percent to $1.39.
Caraco Pharmaceutical Laboratories Ltd. (CPD US) jumped 13 percent, the most since Dec. 8, to $5.13. Sun Pharmaceutical Industries Ltd. may acquire the outstanding shares of the generic drugmaker for $4.75 a share in cash.
Celgene Corp. (CELG US) fell the most in the Standard and Poor’s 500 Index, sliding 8.2 percent to $55.64. The company’s Revlimid treatment was associated with a higher incidence of secondary cancers, ISI Group Inc. analyst Mark Schoenebaum said.
Cisco Systems Inc. (CSCO US) rose the most in the Dow Jones Industrial Average, gaining 1.8 percent to $19.41. The largest maker of computer networking equipment was boosted to “outperform” from “market perform” by Oppenheimer & Co., which said the stock’s price already reflected concern about the company’s market-share losses.
Dollar General Corp. (DG US) dropped 7.3 percent, the most since its initial public offering in November 2009, to $30.99. The discount retailer with more than 9,000 stores reported 25 million shares will be sold by members of senior management and an entity tied to the directors of the Goodlettsville, Tennessee-based company.
First BanCorp. (FBP US) surged 13 percent, the most since Oct. 14, to 30 cents. The parent of FirstBank Puerto Rico said the U.S. Treasury Department has agreed to reduce the size of a capital raise required as part of an issue of preferred stock in exchange for preferred shares issued to the department under the government’s Troubled Assets Relief Program in 2009.
Lender Processing Services Inc. (LPS US) fell 5.8 percent, the most since Oct. 4, to $29.23. The provider of mortgage processing and default management services may have produced much larger amounts of allegedly fraudulent documents than has been disclosed as part of foreclosure-document fraud investigation, Reuters reported.
Molycorp Inc. (MCP US) surged 18 percent to $32.86, the biggest gain since its IPO in July. Sumitomo Corp., Japan’s third-largest trading company, may acquire a stake in the owner of the world’s largest non-Chinese deposit of rare-earth metals, Nikkei English News said without saying where it obtained the information.
Polypore International Inc. (PPO US) climbed 16 percent to $42.02, the highest price since it went public in June 2007. The maker of components used in electric-car batteries was raised to “outperform” from “neutral” at Robert W. Baird & Co.
Radware Ltd. (RDWR US) soared 21 percent to $39.77, the highest price since July 2000. Riverbed Technology Inc. (RVBD US) is said to be in talks on an offer for the company whose technology helps make Internet networks run more efficiently at $47 a share, Israel’s Calcalist said.
SandRidge Energy Inc. (SD US) rose 5.7 percent to $5.95 for its biggest gain since June 3. The oil producer was raised to “buy” from “hold” at Stifel Nicolaus & Co.
Sprint Nextel Corp. (S US) rose the most in the S&P 500, jumping 6.4 percent to $4.17. David Einhorn, president of hedge-fund operator Greenlight Capital, told CNBC in an interview he has taken a long position in the third-largest U.S. mobile-phone carrier, which he says is “in a good spot” for a turnaround. Separately, Sprint said it will spend as much as $5 billion to upgrade its network over the next three to five years.
Teradyne Inc. (TER US) had the second-biggest gain in the S&P 500, climbing 5.9 percent to $13.48. The maker of testing equipment for electronics was boosted to “outperform” from “neutral” by Credit Suisse Group AG, which said orders will recover in the second quarter. A combination of Verigy and Advantest “may open up opportunities for share gains” for Teradyne, analyst Satya Kumar wrote in a note.
Verigy Ltd. (VRGY US) surged 42 percent, the most since it went public in June 2006, to $12.95. The maker of semiconductor-testing equipment said it received an unsolicited buyout offer from Tokyo-based Advantest Corp. at $12.15 a share. Verigy’s Board will engage in discussions with Advantest, though it determined the offer isn’t superior to a pending transaction with LTX-Credence Corp. (LTXC US).
LTX-Credence slipped 12 percent to $7.40 for the biggest loss in the Russell 2000 Index.
Nikolaj Gammeltoft in New York at +1-212-617-1061 or email@example.com.