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.
Abiomed Inc. (ABMD US) climbed 12 percent to $16.93, the highest price since December 2008. The maker of heart devices had its share-price estimate increased to $20 from $18 at Lazard Capital Markets. The latest update from the Centers for Medicare & Medicaid Services on indicators of coverage of indications of coverage for the Impella heart pump was “very positive” for the company, Lazard said.
Amylin Pharmaceuticals Inc. (AMLN US) surged 16 percent, the most since June 18, to $13.09. The San Diego-based drugmaker won the backing of a European Medicines Agency panel for Bydureon, a weekly diabetes medicine.
Assured Guaranty Ltd. (AGO US) jumped 24 percent to $17.60 for the biggest increase in the Russell 1000 Index. Bank of America Corp. (BAC US) will pay $1.1 billion to settle the Hamilton, Bermuda-based bond insurer’s demands that the lender buy back faulty mortgages, according to a statement from Assured.
Bond insurer MBIA Inc. (MBI US) gained 17 percent to $10.48, the second-biggest gain in the Russell 1000.
Bronco Drilling Co. (BRNC US) rose 5.8 percent to $11.00 for the biggest two day gain since Dec. 21. Chesapeake Energy Corp. agreed to buy the Edmond, Oklahoma-based oil-drilling services company for $316.8 million in cash to add at least 22 onshore rigs, ramping up capacity to produce oil and petroleum liquids.
Cirrus Logic Inc. (CRUS US) retreated 7 percent to $16.84, the lowest price since Jan. 4. The supplier of parts for Apple Inc.’s (AAPL US) iPhone and iPad said fourth-quarter gross margin was 50 percent, missing its earlier forecast of at least 54 percent.
Cubist Pharmaceuticals Inc. (CBST US) gained 6.3 percent to $32.27, the highest price since January 2002. The Lexington, Massachusetts-based company that develops drugs to treat infections reported first-quarter earnings excluding some items of 55 cents a share, beating the average analyst estimate by 19 percent, Bloomberg data show.
Google Inc. (GOOG US) slumped 8.3 percent to $530.70, the biggest decline in the Standard & Poor’s 500 Index. The world’s largest Internet-search company reported first quarter profit that missed analysts’ estimates after spending more on hiring and marketing to ward off competition from Facebook Inc. and Apple Inc.
Infosys Technologies Ltd. (INFY US) declined 13 percent, the most since April 2003, to $63.21. India’s No. 2 software exporter forecast sales that trailed analysts’ estimates and reported fourth-quarter profit that missed expectations.
Knoll Inc. (KNL US) rose 10 percent, the most since Feb. 4, to $21.63. The workplace-furnishings maker’s Chief Executive Officer Andrew Cogan said the company is seeing “positive momentum” in the marketplace this year.
Mattel Inc. (MAT US) climbed 4.1 percent, the second-biggest advance in the S&P 500, to $26.80. The maker of Barbie dolls posted first-quarter sales that exceeded analysts’ average estimate by 5.2 percent, Bloomberg data show.
Melco Crown Entertainment Ltd. (MPEL US) advanced 5.4 percent to $9.16, the highest price since July 2008. The venture between an Australian billionaire and a son of Macau casino magnate Stanley Ho was raised to “buy” from “neutral” at Bank of America Merrill Lynch, which cited “sustainable improvement” in the City of Dreams casino’s performance.
Merck & Co. (MRK US) gained 1.9 percent to $34.51 for the biggest rally in the Dow Jones Industrial Average. The second-biggest U.S. drugmaker retained limited rights to a share of revenue from the arthritis drug Remicade after a settlement ended its dispute with partner Johnson & Johnson.
Microvision Inc. (MVIS US) climbed 19 percent, the most since March 2009, to $1.48. The developer of ultra-miniature projection display products gained after Engadget, citing a post on Picopros, said Apple Inc.’s (AAPL US) patent applications indicate it may offer laptops with integrated laser-based projectors.
StanCorp Financial Group Inc. (SFG US) dropped 6.2 percent to $42.54, the lowest price since Nov. 30. The provider of insurance and retirement plans forecast first-quarter adjusted earnings to be no more than 77 cents a share, missing the average analyst estimate of $1.19.
Zhongpin Inc. (HOGS US) rose 14 percent, the most since May 2009, to $16.13. The meat and food processor said China Construction Bank agreed to provide 10 billion yuan ($1.53 billion) in loans and financial services to help the company expand.