Dec. 31 (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.
Education stocks declined after Bloomberg News reported that for-profit colleges are charging more than community colleges while doing less for poor and minority students.
Apollo Group Inc. (APOL US) slipped 0.5 percent to $39.49. Strayer Education Inc. (STRA US) and ITT Educational Services Inc. (ESI US) fell the most in the Russell 1000 Index. Strayer dropped 3.1 percent to $152.22, and ITT Educational fell 3.1 percent to $63.69. Career Education Corp. (CECO US) tumbled 1.3 percent to $20.73.
Casino stocks advanced after UBS AG said Macau’s casino revenue surged to as much as $2.37 billion this month, matching its record in October. Wynn Resorts Ltd. (WYNN US) added 2.1 percent to $103.84. Las Vegas Sands Corp. (LVS US) rose 3.5 percent to $45.95.
Abraxas Petroleum Corp. (AXAS US) rallied 10 percent, the second-biggest gain in the Russell 2000 Index, to $4.57. The San Antonio-based oil and natural-gas producer rose as the price of crude oil jumped 1.7 percent to $91.38 a barrel, the highest year-end price since 2007.
Borders Group Inc. (BGP US) slumped 22 percent to 90 cents for the biggest decline in the Russell 2000 Index. The second-largest U.S. bookstore chain said it delayed payments to some publishers while trying to avert a liquidity crisis.
Fremont Michigan InsuraCorp Inc. (FMMH US) rose 9.6 percent to $28.50, the highest price since at least December 2004. Biglari Holdings Inc. (BH US) increased its offer to buy the property and casualty insurance company to $31 a share.
Imax Corp. (IMAX US) rallied 4.5 percent to $28.07, the highest price since August 2000. Sony Corp. (6758 JP) may be preparing to bid more than $40 a share for the operator of large-screen movie theaters, the Daily Mail reported.
“The first Imax became aware of these rumors was through yesterday’s Daily Mail article,” said Whit Clay, who represents Imax at Sloane & Co. “It has been the company’s longstanding policy not to comment on such rumors.” No one was available for comment at Sony’s headquarters in Japan, where it’s a holiday.
Universal American Financial Corp. (UAM US) rallied 40 percent to $20.45 for the biggest increase in the Russell 2000 Index. CVS Caremark Corp. (CVS US) agreed to buy the Medicare Part D unit of Universal American Financial for about $1.25 billion, more than doubling the size of its program after pharmacy-benefits management sales fell for two quarters.
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