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.
Alimera Sciences Inc. (ALIM US) plunged 73 percent, the biggest decline in the Russell 2000 Index, to $1.96. The Food and Drug Administration asked the pharmaceutical company to conduct additional clinical trials to prove the therapy, called Iluvien, is safe and effective for diabetic macular edema, a retinal disease that can lead to vision loss.
The Alpharetta, Georgia-based company licenses the drug from Psivida Corp. (PSDV US) of Watertown, Massachusetts. Psivida tumbled 48 percent to $2.03, the biggest drop since January 2005.
AMC Networks Inc. (AMCX US) climbed 6.9 percent, the most since Sept. 14, to $36.80. The cable-television channel owner was boosted to “hold” from “sell” by Benjamin Mogil, an analyst at Stifel Nicolaus & Co.
Bio-Reference Laboratories Inc. (BRLI US) plunged 24 percent, the most since at least 1993, to $12.31. The operator of clinical laboratories had its “hold” rating placed under review by Jefferies Group Inc., which cited a report from Street Sweeper criticizing the company’s business practices. Bio-Reference reported plans to buy back as many as 1 million shares, and said it was “under attack from short sellers” who were spreading “inaccuracies, half truths and complete fabrications” on the blog.
Caterpillar Inc. (CAT US) gained 4.3 percent, the second biggest gain in the Dow Jones Industrial Average, to $96.13. The world’s largest maker of construction and mining equipment offered as much as HK$6.89 billion ($885 million) to buy ERA Mining Machinery Ltd. to expand sales in China.
ConAgra Foods Inc. (CAG US) lost 2.2 percent to $24.77 for the third-biggest retreat in the Standard & Poor’s 500 Index. The food manufacturer was cut to “neutral” from “buy” at UBS AG, which cited weak core demand.
Dillard’s Inc. (DDS US) dropped 13 percent, the second-most in the Russell 1000 Index, to $48.20. While the department-store chain’s third quarter earnings beat analyst projections, the “upside was related to credit income and repurchase activity,” disappointing investors, according to Sterne Agee & Leach Inc. Gross margins fell 15 basis points below JPMorgan Chase & Co.’ estimate, according to a note today.
E*Trade Financial Corp. (ETFC US) declined 4.1 percent, the most in the S&P 500, to $9.09. The online brokerage’s board rejected putting the company up for sale following a strategic review spurred by Citadel LLC, the company’s biggest shareholder.
Rivals Charles Schwab Corp. (SCHW US) rose 2.2 percent to $12.36 and TD Ameritrade Holding Corp. (AMTD US) rallied 1.8 percent to $17.13.
Genworth Financial Inc. (GNW US) had the second-biggest gain in the S&P 500, adding 6.1 percent to $6.95. The home-loan guarantor and life insurer was boosted to “neutral” from “sell” at Citigroup Inc., which cited the company’s plan to sell a stake in an Australian unit.
Green Mountain Coffee Roasters Inc. (GMCR US) climbed 6.9 percent to $43.71, the first gain in five days. The largest U.S. seller of single-serve brewers should have “several years of growth” and business is “not weak,” Canaccord Genuity Inc. said, citing analyst Scott Van Winkle. The shares plunged the most ever yesterday after sales missed analyst estimates.
Merck & Co. (MRK US) climbed 2.9 percent to $35.97, the highest price since July 22. The second-biggest U.S. drugmaker advanced for a second day after raising its dividend for the first time since 2004.
Molycorp Inc. (MCP US) fell 14 percent, the most in the Russell 1000 Index, to $33.45. The owner of the largest rare-earth deposit outside China rare-earth deposit outside China cut its full-year production estimate and posted third-quarter profit and sales that missed analysts’ estimates.
Netlist Inc. (NLST US) surged 16 percent, the most since Aug. 9, to $1.92. The computer-memory systems maker reported a third-quarter loss of 4 cents a share, beating the average of two analyst estimates in a Bloomberg survey of a loss of 8.5 cents a share.
ServiceSource International Inc. (SREV US) climbed 13 percent, the most since May 10, to $14.60. The provider of Internet-based revenue management services forecast fourth-quarter profit of at least 4 cents a share, topping the average analyst estimate of 2 cents a share.
TransAtlantic Petroleum Ltd. (TAT US) jumped 9.9 percent to $1.56, the highest price since July 26. The oil and natural gas company was raised to “buy” from “accumulate” at Global Hunter Securities.
Walt Disney Co. (DIS US) rallied 6 percent, the biggest gain in the Dow Jones Industrial Average, to $36.70. The world’s biggest theme-park operator and owner of ESPN posted a 30 percent gain in fourth-quarter profit, beating analysts’ estimates on growth in cable TV and at U.S. resorts.