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Bank Mutual, D.R. Horton, KB Home, Lennar: U.S. Equity Movers

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Dec. 20 (Bloomberg) -- 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.

Homebuilders advanced after Fannie Mae’s Economics & Mortgage Market Analysis Group raised its forecast for an increase in home sales in 2011, saying in a press release that improvements in economic data lead to a “brighter outlook.”

Lennar Corp. (LEN US), the third-largest U.S. homebuilder by revenue, jumped 5.3 percent to $18.24. Pulte Group Inc. (PHM US) gained 3 percent to $7.27. KB Home (KBH US) climbed 5.8 percent to $13.52. D.R. Horton Inc. (DHI US) rose 3.7 percent to $11.81.

American Express Co. (AXP US) fell the most in the Dow Jones Industrial Average, declining 3.4 percent to $42.50. The biggest U.S. credit-card issuer by purchases was cut to “hold” from “buy” at Stifel Nicolaus & Co.

Bank Mutual Corp. (BKMU US) fell 13 percent to $4.74, the most since December 2008. The Wisconsin bank said on Dec. 17 after the close of markets that it will recognize a one-time charge of $53.6 million from early repayment of $756 million in Federal Home Loan Bank advances.

Boeing Co. (BA US) had the second-biggest retreat in the Dow Jones Industrial Average, sinking 2.7 percent to $63.27. The world’s largest aerospace company said it will boost the production rate of its 777s for the second time this year as it struggles with delays on the 787 Dreamliner.

Chelsea Therapeutics International Ltd. (CHTP US) rallied 28 percent to $7.69, the highest since January 2008. The biotechnology company said it plans to accelerate the new drug application for its hypotension treatment, Northera, after meeting with the U.S. Food and Drug Administration.

Chesapeake Energy Corp. (CHK US) advanced 8.8 percent to $25.36 for the biggest gain in the Standard & Poor’s 500 Index. Carl Icahn, the billionaire investor, boosted his stake in the producer of natural gas to an equivalent of 5.8 percent, according to a regulatory filing. The filing also said Icahn has had and intends to seek further discussions with Chesapeake.

Duke Realty Corp. (DRE US) gained 6 percent to $11.71 after rising as much as 7.6 percent, the most since November 2009. The U.S. real estate investment trust agreed to $967 million in transactions that include the sale of offices and the acquisition of industrial properties.

Huntington Bancshares Inc. (HBAN US) added 4.7 percent to $6.53, the most since Nov. 4. The Columbus, Ohio-based bank was raised to “buy” from “neutral” at Bank of America Corp.

MetroPCS Communications Inc. (PCS US) rose 5.5 percent to $12.74, the highest since July 2009. The pay-as-you-go mobile phone company was raised to “outperform” from “sector perform” at RBC Capital Markets. The 12-month share-price estimate is $16.

Peregrine Pharmaceuticals Inc. (PPHM US) rallied 34 percent, the most since May 2009, to $2.23. The drug development company said the interim data on its Cotara show “remarkable” results in treating patients with brain cancer. Top-line survival data will be released mid-year 2011, the company said.

SLM Corp. (SLM US) climbed 6.3 percent to $12.82 for the second-biggest advance in the S&P 500. The student-loan maker may rise to the “high teens” during the next 18 months and could attract a buyer, Barron’s said, citing no one.

Sunstone Hotel Investors Inc. (SHO US) retreated 4.9 percent, the most since Nov. 9, to $9.97. The real estate investment trust that focuses on upscale lodging said Arthur Buser has resigned as president and chief executive officer.

Ultrapetrol Bahamas Ltd. (ULTR US) fell 19 percent, the most since December 2008, to $6.13. The shipper of bulk cargo on South American rivers said it plans to sell $60 million of convertible notes.

To contact the editor responsible for this story: Michael P. Regan at mregan12@bloomberg.net.

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