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.
Solar shares advanced after the German government said it plans to exit atomic energy by 2022. MEMC Electronic Materials Inc. (WFR US) rose 4 percent to $10.52. First Solar Inc. (FSLR US) rose 2.4 percent to $124.25.
Agilysys Inc. (AGYS US) jumped 42 percent, the most since at least 1984, to $6.81. The vendor of computers and software to hotels, casinos and health clinics announced a sale of its technology solutions business to OnX Enterprise Solutions for $64 million and said Chief Executive Officer Martin Ellis will step down.
Ashland Inc. (ASH US) rose 12 percent, the biggest gain in the Russell 1000 Index, to $68.34. The maker of Valvoline motor oil agreed to buy closely held International Specialty Products Inc. for $3.2 billion in cash to tap demand for higher-margin ingredients used in shampoo, pharmaceuticals and toothpaste.
Avago Technologies Ltd. (AVGO US) slumped 3.5 percent, the first decline in four days, to $33.79. KKR & Co. (KKR US) and Silver Lake are reducing their ownership stakes in the maker of semiconductor components to 7.3 percent and 7.2 percent respectively from 11.7 percent and 11.6 percent.
Central Vermont Public Service Corp. (CV US) surged 41 percent to $34.30 for the second-biggest increase in the Russell 2000 Index. The utility agreed to be bought by Fortis Inc. (FTS CN), Canada’s biggest publicly traded electric utility, for about $470 million, or $35.10 a share.
DreamWorks Animation SKG Inc. (DWA US) slumped 3.7 percent to $23.91, the lowest price since May 2009. Box office sales for the studio’s film Kung Fu Panda 2 missed estimates over the Memorial Day weekend, according to Tony Wible of Janney Montgomery Scott LLC. The “weaker performance on franchise character films is troubling,” he wrote.
RealD Inc. (RLD US) slumped 12 percent to $27.30, the biggest decline in the Russell 2000. Attendance for DreamWorks’ Kung Fu Panda 2 in 2D theaters was nearly twice as much as in 3D theaters, BTIG LLC analyst Richard Greenfield wrote in a note. Demand for 3D films is likely to slow over the coming year as overseas strength wears off, he said.
FuelCell Energy Inc. (FCEL US) surged 30 percent, the most since November 2008, to $1.90. The maker of low-pollution power plants won a $129 million order from a unit of Korean steelmaker Posco. The company will sell Posco 70 megawatts of fuel cell kits over two years starting in October.
Funtalk China Holdings Ltd. (FTLK US) jumped 13 percent, the most since Aug. 4, to $6.64. The operator of the mainland’s second-biggest chain selling mobile phones agreed to be bought by Fortress Group Ltd., a group which includes Arch Digital Holdings Ltd. and GM Investment Co., for $7.20 a share in a “going private” transaction.
General Dynamics Corp. (GD US) advanced 4.2 percent to $74.22 for the biggest gain in the S&P 500. The second-largest U.S. shipbuilder received a $744 million contract from the U.S. Navy to construct two mobile landing platform ships. The contract comes with an option for the construction of a third ship, which would increase its size to $1.3 billion.
Radian Group Inc. (RDN US) gained 4 percent to $4.98 the highest price since May 16. The mortgage insurer was raised to “overweight” from “neutral” at Piper Jaffray Cos., which cited a stronger position on both credit and capital.
Travelzoo Inc. (TZOO US) rallied 6.6 percent, the most since April 25, to $75.14. The Internet travel marketer was raised to “outperform” from “market perform” by Justin Patterson at Morgan Keegan & Co., who cited the company’s Local Deals exposure, “significant” operating leverage and increasing international business.
Yongye International Inc. (YONG US) surged 42 percent, the most since February 2009, to $5.33. The Chinese seller of plant nutrients received a $50 million investment from Morgan Stanley’s Asian private equity unit.