ATP Oil, Bally, FedEx, JDA Software, Sonic: U.S. Equity Movers
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.
ATP Oil & Gas Corp/United States (ATPAQ) rallied 9.6 percent, the most since March 12, to $11.32. The drilling company was cut to “neutral” from “buy” at Global Hunter Securities LLC.
Bally Technologies Inc. (BYI) fell 5.7 percent, the most since March 4, to $38.48. The gaming-technology company was cut to “sell” from “neutral” at Goldman Sachs Group Inc.
Curis Inc. (CRIS) plunged 48 percent to $1.69, its biggest decline since 2000. An experimental treatment for colorectal cancer that Curis and Roche Holding AG (ROG) were testing failed to meet the primary goal of a study.
Fannie Mae (FNM US) fell 39 percent to 56 cents while Freddie Mac (FRE US) dropped 38 percent to 75 cents. The mortgage companies bailed out by the U.S. were told by their regulator to delist their common and preferred stock from the New York Stock Exchange.
FedEx Corp. (FDX) dropped 6 percent to $78.07, the biggest decline in the Standard & Poor’s 500 Index. The world’s largest air-cargo carrier forecast annual profit that trailed analysts’ estimates citing rising health-care and pension costs in a “moderate” economic recovery.
Genoptix Inc. (GXDX US) fell the most since its initial public offering in 2007, dropping 25 percent to $17.19. The Carlsbad, California-based medical laboratory said it expects second-quarter profit of about 30 cents a share, missing the average estimate of 40 cents a share from analysts surveyed by Bloomberg.
Immunomedics Inc. (IMMU) advanced 4.4 percent, the most since June 2, to $3.59. The developer of medicines for cancer and autoimmune diseases said a study showed its new lupus drug candidate epratuzumab reduced disease activity in patients with moderate to severe symptoms.
International Game Technology (IGT) lost 5.4 percent to $18.54, the second-biggest decline in the S&P 500. The maker of computerized casino gaming systems was cut to “sell” from “neutral” at Goldman Sachs Group Inc.
JDA Software Group Inc. (JDAS US) fell 20 percent, the most since September 2002, to $22.29. The maker of software used to track goods sent to retailers’ shelves dropped after the company said a jury awarded about $246 million in damages to Dillard’s Inc. in a lawsuit. JDA was downgraded to “accumulate” from “buy” at Craig Hallum Capital Group LP.
Neurocrine Biosciences Inc. (NBIX) soared 14 percent to $5.37, the highest price since September 2008. The drug company has an agreement with Abbott Laboratories (ABT) to develop elagolix for the treatment of endometriosis-related pain. Abbott said it will pay Neurocrine $75 million upfront and as much as $500 million in milestone payments.
Priceline.com Inc. (PCLN) gained 5.7 percent, the most since May 10, to $196.41. The second-biggest online travel agency was raised to “buy” from “neutral” at Goldman Sachs.
Scotts Miracle-Gro Co. (SMG) shares slid 5.7 percent to $44.73 for the biggest decline since May 20. The maker of lawn-care products said it expects earnings excluding some items to be between $3.25 and $3.35 a share for fiscal 2010. The average of 11 analyst estimates compiled by Bloomberg was $3.31.
Somanetics Corp. (SMTS US) surged 31 percent to $24.81 for the biggest gain in the Russell 2000 Index and the most intraday since October 2001. The maker of cardiac surgery equipment will be acquired by Covidien Plc (COV) for $25 a share in cash, or $250 million.
Sonic Corp. (SONC) slid 5.2 percent to $9.39, the lowest price since March 9. The largest U.S. chain of drive-in restaurants cut its 2010 estimate for adjusted earnings-per-share to 50 cents to 55 cents. Analysts expect 56 cents, according to the average of a Bloomberg survey.
Sunoco Inc. (SUN) gained 6.3 percent, the most in the S&P 500, to $34.27. The Philadelphia refinery said it will separate SunCoke Energy from the remainder of Sunoco in the first half of 2011 as part of a strategy designed to unlock shareholder value.
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