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BioSante, Education Management, Tesla, TPC: U.S. Equity Movers

Dec. 27 (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.

Alimera Sciences Inc. (ALIM US) sank 9.2 percent, the most since June 25, to $10.19. The biopharmaceutical company received a complete response letter from the U.S. Food and Drug Administration, delaying its decision on the approval of Iluvien for diabetic macular edema.

American International Group Inc. (AIG US) rose 9.3 percent to $59.38 for the biggest gain in the Standard & Poor’s 500 Index. The insurer seeking to replace government funds with private capital after its 2008 bailout signed $4.3 billion of credit agreements.

BioSante Pharmaceuticals Inc. (BPAX US) jumped 27 percent to $2 for the biggest gain in the Russell 2000 Index. The developer of products for female sexual health and oncology said in a regulatory filing it extended by one year an equity financing facility with Kingsbridge Capital.

Cal-Maine Foods Inc. (CALM US) fell 3.6 percent to $32.61 after dropping as much as 5.4 percent, the most intraday since Oct. 8. The egg producer reported second-quarter earnings excluding some items of 63 cents a share, missing the estimate of 74 cents in a Bloomberg survey with two analysts.

Cisco Systems Inc. (CSCO US) rose 2.4 percent, the biggest gain in the Dow Jones Industrial Average, to $20.16. The largest maker of networking equipment may rise as demand for the equipment grows and the company initiates a dividend, Barron’s reported.

Education Management Corp. (EDMC US) rose 7.8 percent to $15.96, the highest price since July 28. The rally in the operator of the Art Institutes and other for-profit colleges was spurred by an increase in the cost of betting against its shares, according to Trace Urdan of Signal Hill Capital Group.

H&R Block Inc. (HRB US) fell 7 percent to $11.80 for the biggest drop in the S&P 500. The tax preparer said it will have difficulty offering tax-refund loans next year after an “11th-hour” decision by U.S. regulators prompted HSBC Holdings Plc to stop offering the loans to its clients.

Sierra Wireless Inc. (SWIR US) climbed 10 percent to $14.75, the highest price since July 2008. Shares of the maker of wireless modems for personal computers are cheap and may rise as growth in 4G and other mobile devices boosts demand for its technology, Barron’s said in its “The Trader” column.

Tesla Motors Inc. (TSLA US) plunged 15 percent to $25.55, the most since July 6. Insiders in the unprofitable electric-car maker were allowed to sell shares for the first time since the company’s June 28 initial public offering following the expiration of a lock-up period on Dec. 25.

TPC Group Inc. (TPCG US) rose 9.2 percent to $30.75, the highest price in four years. Oppenheimer & Co. raised earnings estimates for the maker of petrochemical-derived products and increased its price target to $37 from $33. Results of the company’s Dec. 23 tender offer show the shares are “significantly undervalued,” Edward H. Yang, the analyst, said in a report.

To contact the reporter on this story: Nikolaj Gammeltoft in New York at ngammeltoft@bloomberg.net.

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net.

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