Caterpillar, Molycorp, Western Refining: U.S. Equity Movers

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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 Superconductor Corp. (AMSC US) fell 8.2 percent, the most since Feb. 2, to $30.72. The maker of wind-turbine components and transmission lines may be overvalued as wind-turbine inventories at its Chinese customer Sinovel increase, Barron’s said, citing no one.

Cabot Oil & Gas Corp. (COG US) rallied 4.5 percent to $36.95 for the second-biggest advance in the Standard & Poor’s 500 Index. The Houston-based natural gas producer received an air quality permit for its Lathrop Compressor Station to begin construction.

The gain also came after General Electric Co.’s agreement today to buy Wellstream Holdings Plc for 800 million pounds ($1.3 billion). National Oilwell Varco Inc. (NOV US) gained 2.1 percent to $63.99.

Caterpillar Inc. (CAT US) advanced 1.9 percent to $91.63, the biggest gain in the Dow Jones Industrial Average. The world’s biggest maker of construction equipment plans to sell $500 million of three-year notes through its finance unit after increasing the size of the transaction, according to a person familiar with the offering.

Community Health Systems Inc. (CYH US) fell 3.6 percent to $34.61 for its biggest loss since Oct. 19. Oppenheimer & Co. analyst Michael Wiederhorn wrote in a research note the second-biggest U.S. hospital operator’s bid for Tenet HealthCare Corp. is not “an obvious home run” and “adds massive amounts of financial and operational risk that could offset the benefits.”

Tenet (THC US) slipped 2.4 percent to $6.49.

Compellent Technologies Inc. (CML US) declined 2.5 percent to $27.98, falling for a third day. Dell Inc. (DELL US) agreed to buy Compellent for $960 million, or $27.75 a share, to gain data-storage technology. Dell, the world’s third-largest personal-computer maker, fell 3.9 percent to $13.36.

Dionex Corp. (DNEX US) surged 20 percent to $117.83, the biggest rally in the Russell 2000 Index. Thermo Fisher Scientific Inc. (TMO US) agreed to buy the maker of scientific instruments for about $2.1 billion, or $118.50 a share in cash. Thermo Fisher rose 4.8 percent to $55.56, its highest price since April 29.

DreamWorks Animation SKG Inc. (DWA US) declined 3.1 percent, the most since Sept. 7, to $30.26. Estimates for 2011 earnings for the maker of the “Shrek” movies are too high based on ticket sales for the film “Megamind” and first-day DVD sales for “Shrek Forever After,” according to Stifel Nicolaus & Co. analyst Benjamin Mogil.

Forest Oil Corp. (FST US) climbed 5.1 percent, the most since Sept. 1, to $36.48. The Denver-based oil and gas company said it filed for an initial public offering of its Canadian operations, Lone Pine Resources Inc.

Huntington Bancshares Inc. (HBAN US) fell 2.7 percent to $6.66 for its biggest decline since Nov. 23. The Ohio bank that has yet to repay $1.4 billion in U.S. bailout funds said it’s selling $920 million of shares.

JDS Uniphase Corp. (JDSU US) rose 3.2 percent to $13.86, its highest price since April 2008. The biggest network-analysis company in the U.S. was raised to “overweight” from “neutral” at Piper Jaffray Cos.

Molycorp Inc. (MCP US) surged 9.6 percent to $34.28, the highest price since Nov. 12. The owner of the world’s largest non-Chinese deposit of rare-earth said it has secured the last of several environmental permits necessary to begin construction of its rare earth manufacturing facility at Mountain Pass, California.

Nektar Therapeutics (NKTR US) slid 9.6 percent, the most since Jan. 22, to $12.71. The biotechnology company’s announcement that it won’t pursue a partnership for its metastatic breast cancer candidate NKTR-102 prior to entering a Phase III development opens an opportunity for a large pharmaceutical company to acquire the drugmaker, Jon LeCroy, an analyst at Hapoalim Securities USA Inc., said.

Sprint Nextel Co. (S US) climbed 3.6 percent to $4.37, the third-biggest advance in the S&P 500. The third-largest U.S. mobile-phone carrier had its share target price raised to $8 from $6 at Credit Suisse Group AG, which reiterated that the company continues to hold the “highest conviction outperform” rating.

Western Refining Inc. (WNR US) slumped 11 percent, the most since June 22, to $9.49. The operator of four U.S. refineries was cut to “underperform” from “sector perform” at RBC Capital Markets.

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