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Coventry, KB Home, Monster, Micron: U.S. Equity Movers

March 23 (Bloomberg) -- 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.

Homebuilders fell after U.S. purchases of new homes unexpectedly decreased in February and KB Home (KBH US) posted a quarterly loss more than twice as wide as the average analyst estimate. KB Home slumped 8.5 percent to $10.29. PulteGroup Inc. (PHM US) sank 2.6 percent to $8.88. Toll Brothers Inc. (TOL US) retreated 0.8 percent to $23.60.

Bacterin International Holdings Inc. (BONE US) dropped 26 percent to $2.50, the most since July 2010. The producer of human tissue for orthopedic procedures reported a fourth-quarter loss that’s wider than analysts estimated.

Cameron International Corp. (CAM US) rallied 2.8 percent, the most since Feb. 3, to $51.78. The maker of oilfield equipment was named a top pick at RBC Capital Markets, which said the company’s outlook for growth in earnings per share isn’t reflected in the stock’s price.

Convergys Corp. (CVG US) lost 2.8 percent, the most since March 2, to $13.63. The operator of customer-service call centers was cut to hold from buy at Stifel Nicolaus & Co.

Cost Plus Inc. (CPWM US) rose 16 percent to $18.66, the highest price since March 2006. The seller of international-themed food and casual furnishings forecast first-quarter revenue of at least $210 million, exceeding the average analyst estimate of $205.8 million.

Discover Financial Services (DFS US) rose the most in the S&P 500, adding 4.1 percent to $33.83. The payments network company was raised to conviction buy at Goldman Sachs Group Inc.

Glu Mobile Inc. (GLUU US) surged 21 percent, the most since November 2010, to $4.85. The mobile game developer was rated strong buy in new coverage at Needham & Co., meaning the firm expects the stock to have a total return of at least 25 percent over the next 12 months.

Kit Digital Inc. (KITD US) fell the second-most in the Russell 2000 Index, slumping 22 percent to $6.33. The provider of software for online video said it accepted the resignation of four board members.

Layne Christensen Co. (LAYN US) declined 2.1 percent to $21.96, the lowest price since Nov. 25. The water- and mining-services company said an internal probe found improper payments were made by or on behalf of foreign units in Africa that may violate the Foreign Corrupt Practices Act as well as local laws.

Medidata Solutions Inc. (MDSO US) rallied 10 percent to $27.51, the highest price since its June 2009 initial public offering. The provider of clinical data management software was raised to buy from hold by Jefferies Group Inc. citing optimism about the company’s Rave’s product.

Micron Technology Inc. (MU US) decreased 3.6 percent, the most since March 5, to $8.40. The largest U.S. maker of computer memory reported a third consecutive loss after sluggish demand for personal computers dragged down chip prices.

SanDisk Corp. (SNDK US), a maker of flash-memory cards, slipped 3 percent to $49.40.

Monster Worldwide Inc. (MWW US) rose 7.7 percent to $10.22, the highest price since Aug. 3. The world’s largest online-recruiting company was raised to outperform from neutral at Robert W. Baird & Co. on speculation that its SeeMore semantic search tool and international expansion could “pay off longer term.” The rating means Monster is expected to beat the broader U.S. equity market on a total return, risk-adjusted basis over the next 12 months.

Morgan Stanley (MS US) gained the third-most in the S&P 500, rising 3.8 percent to $20.33. The owner of the world’s largest brokerage was raised to sector perform from underperform at RBC Capital Markets. The new rating corresponds to hold.

Weight Watchers International Inc. (WTW US) fell 3.9 percent, the most since Feb. 2, to $78.84. The diet center said it expects to accept payments of shares in a modified Dutch auction, representing 11.9 percent of outstanding stock as of Feb. 13. The company also said it plans to buy 9.5 million of its shares.

Wet Seal Inc. (WTSLA US) fell 7.6 percent, the most since Feb. 21, to $3.28. The apparel chain for teenage girls forecast first-quarter earnings of no more than 4 cents a share, missing the average analyst estimate by 2 cents.

To contact the reporter on this story: Whitney Kisling in New York at wkisling@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net

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