Abercrombie, Ciena, Edwards Lifesciences: U.S. Equity Movers

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.

Abercrombie & Fitch Co. (ANF US) rallied 11 percent to $65.57, the highest price since July 2008. The teen retailer announced plans to open stores in China and said it expects to earn $4.75 a share in 2012.

Ciena Corp. (CIEN US) jumped 5.9 percent to $26.55, the highest price since March 4. The maker of network gear for the biggest U.S. phone companies was raised to “buy” from “neutral” at Bank of America Corp.

Cubist Pharmaceuticals Inc. (CBST US) rose 15 percent to $29.01, the highest price since January 2002. The maker of the antibiotic Cubicin settled its patent litigation with Teva Pharmaceutical Industries Ltd. (TEVA IT) with a licensing agreement allowing Teva to distribute a generic version of the antibiotic.

Diamond Foods Inc. (DMND US) gained 6.7 percent to $61.06, the highest price since it went public in July 2005. The company agreed to buy the Pringles chip business from Procter & Gamble Co. (PG US) for $1.5 billion in stock and assumption of $850 million in debt.

Duoyuan Global Water Inc. (DGW US) slumped 20 percent to $3.21, the lowest price since it went public in June 2009. The Chinese water-treatment equipment supplier said Chief Financial Officer Stephen C. Park will leave the company to “pursue another professional opportunity.”

Edwards Lifesciences Corp. (EW US) slumped 3.8 percent to $82.26, the biggest decline in the Standard & Poor’s 500 Index. An American College of Cardiology study may have disappointed investors, said Alastair Mackay, an analyst at GARP Research & Securities Co. The study said use of the company’s device to repair damaged heart valves should be limited to the highest-risk patients until more is known about the technique.

Google Inc. (GOOG US) slipped 3.2 percent to $569.09, the second-biggest decline in the S&P 500. The U.S. Federal Trade Commission is considering a broad antitrust investigation of the company’s dominance of the Internet-search industry, two people familiar with the matter said. Separately, Senior Vice President Jonathan Rosenberg said it plans to step down.

Inspire Pharmaceuticals Inc. (ISPH US) rose the most in the Russell 2000 Index, jumping 25 percent to $4.97. The specialty drugmaker agreed to be bought by Merck & Co. (MRK US) for about $430 million, or $5 a share.

KB Home (KBH US) fell 4.2 percent to $11.69, the lowest price since Nov. 30. The Los Angeles-based homebuilder that targets first-time buyers reported a wider first-quarter loss than analysts estimated as revenue and new orders plunged amid slumping demand for new houses.

Meru Networks Inc. (MERU US) tumbled 15 percent to $16.05 for the biggest retreat in the Russell 2000 Index. The maker of Wi-Fi networking equipment said first-quarter revenue was $20.5 million at most, missing its forecast.

National Semiconductor Corp. (NSM US) rallied 71 percent to $24.06 for the biggest gain in the Standard & Poor’s 500 Index. Texas Instruments Inc. (TXN US), the second-largest U.S. chipmaker, agreed to buy the Santa Clara, California-based chipmaker for about $6.5 billion, its biggest acquisition as it expands its leadership in analog semiconductors. Texas Instruments will pay $25 a share in the all-cash transaction.

Intel Corp. (INTC US) added 1.1 percent to $19.71. Intersil Corp. (ISIL US) jumped 8.4 percent to $13.14.

Questcor Pharmaceuticals Inc. (QCOR US) soared 21 percent to $18, the highest price since 1988. The developer of a treatment for seizures in infants said first-quarter preliminary first-quarter gross sales were $48.6 million and the company saw a 115 percent increase in paid prescriptions for its H.P. Acthar Gel for multiple sclerosis treatment, compared with a year earlier.

SemiLEDs Corp. (LEDS US) tumbled 17 percent to $11.96, the lowest price since its December initial public offering. The manufacturer of light emitting diode chips in Hsinchu, Taiwan, said it expects to have a loss of at least 7 cents a share in the third quarter. Analysts, on average, estimated the company to earn 14 cents, Bloomberg survey shows.

Wright Medical Group Inc. (WMGI US) fell 12 percent, the most since March 2009, to $15.05 and slumped 12 percent earlier, the most intraday since April 2009. The artificial-joint maker said Gary D. Henley, its chief executive officer since 2006, resigned.

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