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.
Credit-rating companies declined after the Wall Street Journal reported that the U.S. Securities and Exchange Commission is considering laying civil fraud charges against some of the firms for their actions on mortgage-backed bonds, which helped trigger the financial crisis.
Moody’s Corp. (MCO US) fell 5 percent to $36.35 for the biggest loss in the Standard & Poor’s 500 Index. McGraw-Hill Cos. (MHP US), which owns S&P, retreated 3.6 percent to $39.61.
BPZ Resources Inc. (BPZ US) soared 17 percent, the most since March 2009, to $3.53. The oil and gas company with operations in Peru said its offshore Block Z-1 exploration has best estimates of 981 million barrels of prospective oil resources and 8.1 trillion cubic feet of gas resources.
Cognizant Technology Solutions Corp. (CTSH US) advanced 3.2 percent to $67.65 for its biggest gain since April 20. Concerns that the information-technology company’s suspension from an accelerated visa processing program would hurt growth were “overblown,” Kaufman Bros. said in a note to clients.
Flowserve Corp. (FLS US) rose 4.6 percent to $105.69 for the third-biggest increase in the S&P 500. Shares of the pumps and valves maker present a “compelling long term buying opportunity” because concerns over project delays and lower margins were “overblown,” Hamzah Mazari, an analyst with Credit Suisse Group AG said in a note to clients.
Lender Processing Services Inc. (LPS US) slumped 13 percent, the biggest retreat in the Russell 1000 Index, to $20.42. The provider of mortgage processing and default management services cut its earnings forecast for the second quarter to no more than 56 cents a share, below a previous estimate of at least 79 cents and below the average analyst prediction of 80 cents.
Merit Medical Systems Inc. (MMSI US) dropped 3.1 percent to $18 for the biggest decline since May 23. The maker of medical devices said it will sell shares in a public offering. Proceeds will be used to repay debt, expand manufacturing facilities and fund potential acquisitions.
Newcastle Investment Corp. (NCT US) rose the most in the Russell 2000 Index, rallying 27 percent to $5.59. The New York-based real estate investment trust announced a quarterly dividend of 10 cents a share. The company had discontinued dividends in December 2008.
Primo Water Corp. (PRMW US) surged 17 percent, the most since March 11, to $13.14. The provider of bottled water and water dispensers said it priced 6 million shares at $11.26 each, raising money to repay debt.
Research In Motion Ltd. (RIMM US) tumbled 21 percent, the most since September 2008, to $27.75. The maker of the Blackberry smartphone forecast second-quarter revenue and profit that missed analysts’ estimates and said it will cut jobs as a lack of new models prompts consumers to buy rival devices.
Scripps Networks Interactive Inc. (SNI US) jumped 5.9 percent, the most in the S&P 500, to $47.14. The owner of Food Channel may be seen as a more viable acquisition target after a probate court petition by its biggest shareholder, a trust for the Scripps family. The filing may be viewed as a positive for the stock because the market may read it removing an obstacle to an acquisition, Nomura Securities analyst Michael Nathanson said today in an e-mail.
Seabridge Gold Inc. (SA US) rallied 4.8 percent, the most since Feb. 23, to $26.32. Royal Gold Inc. (RGLD US) agreed to buy a C$30 million ($30.6 million) stake in the mining company.
Zoran Corp. (ZRAN US) rose 15 percent, the most since Feb. 22, to $8.29. The maker of chips for digital audio and video products accepted a lower price in the agreed merger with CSR Plc (CSR LN). The transaction values Zoran at $9.19 per share or about $484 million.