A123, DaVita, Lennar, Office Depot, Onyx, Sanderson: U.S. Equity Movers
Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are of 4 p.m. in New York.
Homebuilders advanced after sales of U.S. new homes rose in June more than forecast. Pulte Group Inc. (PHM US) climbed 4.7 percent to $9.07. D.R. Horton Inc. (DHI US) increased 3 percent to $11.17. Lennar Corp. (LEN US) added 3.3 percent to $15.42.
Masco Corp. (MAS US), an insulation installer, gained 4.5 percent to $11.93.
A123 Systems Inc. (AONE US) rose 14 percent, the most since Nov. 24, to $10.70. The maker of lithium batteries for plug-in cars that sold shares in an initial public offering in September was raised to “overweight” from “equal weight” at Barclays Plc.
American International Group Inc. (AIG US) jumped 5.3 percent to $38.70, the highest since June 21. The bailed-out insurer, which has units that initiate, insure and invest in home loans, gained after data showed that sales of new homes in the U.S. rose more than forecast last month.
Alberto-Culver Co. (ACV US) rose 5.2 percent to $30.93, the highest price since November 2006. The maker of shampoos and skin-care products posted earnings excluding some items of 39 cents a share, beating the average analyst estimate by 5.1 percent, according to Bloomberg data.
Cal-Maine Foods Inc. (CALM US) rose 12 percent, the most since October 2008, to $33.19. The largest U.S. egg producer said fourth-quarter profit more than doubled to 88 cents a share.
DaVita Inc. (DVA US) climbed 7.1 percent, the most since February 2009, to $60.86. DaVita partner Hospira Inc. (HSP US) said it started a U.S. phase I clinical trial of a drug to treat anemia in patients with kidney dysfunction. Hospira rose 1.4 percent to $58.
FedEx Corp. (FDX US) rose 5.6 percent to $83.39, the highest price since June 3. The second-largest U.S. package- shipping company raised its earnings forecast for this quarter and the full year on rising demand for international express shipments.
FMC Technologies Inc. (FTI US) fell 3 percent, the most since June 7, to $61.82. The Houston-based provider of technology for oil and natural gas fields reported revenue of $1.01 billion in the second quarter, trailing the average analyst estimate of $1.06 billion in a Bloomberg survey.
Genzyme Corp. (GENZ US) had the second biggest gain in the Standard & Poor’s 500 Index, adding 7.7 percent to $67.38. GlaxoSmithKline Plc (BSK LN) recently made a “very casual” overture to Genzyme, asking the biotechnology company to keep it in mind if Genzyme considered selling itself, the Wall Street Journal reported, citing an unidentified person familiar with the matter. Sanofi-Aventis SA’s (SAN FP) takeover approach for Genzyme was rebuffed, CNBC’s David Faber reported, without saying where he got the information.
Biogen Idec Inc. (BIIB US), which had gained on speculation it was a potential takeover target, rose 8.3 percent to $57.89, the biggest gain in the S&P 500.
Office Depot Inc. (ODP US) gained 7.7 percent, the most since May 10, to $4.73. The second-largest U.S. office-supplies retailer is reporting earnings tomorrow. Analysts expect a loss of 17 cents a share for the second quarter, the average of 18 estimates in a Bloomberg survey, compared with a loss of 31 cents a year ago. The retailer has posted nine consecutive quarters of sales declines, dating back to the first quarter of 2008.
Onyx Pharmaceuticals Inc. (ONXX US) surged 21 percent to $26.04 for the biggest gain in Russell 2000 Index. The Emeryville, California-based drugmaker said its experimental drug carfilzomib helped about a quarter of patients with advanced multiple myeloma whose cancer hadn’t been halted by other therapies.
Sanderson Farms Inc. (SAFM US) slid 4.1 percent to $48.67, the lowest price since Feb. 8. The fourth-biggest U.S. chicken producer was reduced to “underweight” from “equal weight” by Morgan Stanley.