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.
A123 Systems Inc. (AONE US) fell 12 percent to $1.49, the lowest price since it went public in September 2009. The maker of batteries for electric cars and trucks said it has started to replace “potentially defective” battery packs and modules produced at a Michigan plant.
Arena Pharmaceuticals Inc. (ARNA US) rallied 25 percent, the second-most in the Russell 2000 Index, to $3.01. The weight-loss pill maker faces a Food and Drug Administration advisory panel on May 10 concerning heart risks for lorcaserin. Piper Jaffray Cos. analysts wrote that Arena advanced because it addressed the concerns in a written response to the FDA before the meeting.
BJ’s Restaurants Inc. (BJRI US) gained 6.7 percent, the most since April 21, to $50.39. The operator of brewery, pizza and grill chains was raised to outperform from neutral at Wedbush Securities Inc., which said its checks show the company is having a “solid” first quarter. The rating means Wedbush expects the stock to beat the median return of companies followed by the analyst over the next 6 to 12 months.
Edwards Lifesciences Corp. (EW US) rose 5.9 percent, the most since Jan. 18, to $75.51. The maker of products to treat late-stage cardiovascular disease rose as a company-funded study found its Sapien device replaces damaged aortic heart valves as well as surgery, without cracking open the chest or triggering higher rates of stroke or death after two years.
Hackett Group Inc. (HCKT US) advanced 15 percent to $5.89, the highest price since September 2008. The Miami, Florida-based business consulting services provider had its price estimate raised to $8 from $6 and was rated buy at Craig-Hallum Capital Group LP, which said it was “pleasantly surprised” by the pricing of the company’s Dutch auction tender and that Hackett is likely to attract more shareholders.
Lions Gate Entertainment Corp. (LGF US) rose 4.5 percent to $15.18, the biggest gain since March 20. The film and television studio behind TV’s “Mad Men” and the Tyler Perry movies pulled in about $155 million in weekend ticket sales for its “Hunger Games” film, a record opening for the company and for the month of March.
Myriad Genetics Inc. (MYGN US) rose 2.5 percent, the most since Feb. 23, to $23.34. The U.S. Supreme Court ordered the U.S. Court of Appeals for the Federal Circuit to reconsider its decision that allowed genetic material used in Myriad Genetics tests for breast and ovarian cancer to be patented. The decision allayed concern that the Supreme Court would invalidate the patents.
Safeway Inc. (SWY US) declined 3.4 percent, the most in the Standard & Poor’s 500 Index, to $20.42. The grocer was cut to neutral from outperform at Credit Suisse Group AG, meaning the firm expects the stock to perform in line with the market over the next 12 months. Credit Suisse said the company’s pension plans have a larger-than-expected underfunded pretax liability of $7 billion.
Tenet Healthcare Corp. (THC US) gained the second-most in the S&P 500, rising 5.5 percent to $5.54. The hospital rallied after the U.S. Supreme Court opened its historic review of President Barack Obama’s health-care law, three days of arguments that might result in the president’s premier legislative achievement being found unconstitutional in the middle of his re-election campaign.
Tesla Motors Inc. (TSLA US) rose 9.7 percent to $37.40, the highest price since it went public in June 2010. The maker of battery-powered cars run by entrepreneur Elon Musk was raised to buy from hold at Wunderlich Securities Inc., which said the company may be poised to exceed its production schedule and increased the price estimate to $49.
Verenium Corp. (VRNM US) surged 20 percent, the most since Aug. 24, to $3.69. The maker of enzymes used for biofuels sold a food enzyme and oilseed-processing businesses to Royal DSM NV (DSM NV) for $37 million.