American Express, F5, Polymer, Sinovac: 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.
Casino companies rose after revenue in Macau, the world’s biggest gambling hub, surged 40 percent in September, meeting estimates from Macquarie Group Ltd.
Actel Corp. (ACTL US) surged 31 percent to $20.95 for the second-biggest gain in the Russell 2000 Index. The maker of electronic equipment agreed to be acquired by Microsemi Corp. (MSCC US) for $20.88 a share in a deal valued at about $430 million. Microsemi rose 9 percent to $18.65.
Akamai Technologies Inc. (AKAM US) dropped 3.9 percent to $47.39, the lowest price since Aug. 31. AT&T Inc. (T US) plans to challenge the software company in the application acceleration market, BusinessofVideo said.
American Express Co. (AXP US) fell the most in the Dow Jones Industrial Average, sliding 6.5 percent to $39.05. The biggest credit-card issuer by purchases said it would challenge a U.S. antitrust lawsuit filed today against the company. Visa Inc. (V US) and MasterCard Inc. (MA US) reached a settlement with the Justice Department to resolve the two-year antitrust investigation over restrictions on merchants. Visa lost 0.1 percent to $73.24. MasterCard retreated 1 percent to $222.64.
BPZ Resources Inc. (BPZ US) fell 11 percent to $3.47, the lowest price since July 21. The oil and gas company said the A- 17D well in its Albacora field offshore of Peru is a “dry hole.” Morgan Keegan Inc. reduced the stock to “underperform” from “market perform.”
China XD Plastics Co. (CXDC US) plunged 19 percent, the most since November 2009, to $5.41. The manufacturer of engineering resins said it raised $20 million in capital by issuing 3.33 million shares to investors at $6 a share. Additional stock may dilute the value of existing shares.
Dynamex Inc. (DDMX US) surged 37 percent to $21.05 for the biggest gain in the Russell 2000. The provider of same-day delivery services said it agreed to be acquired for $21.25 a share by Greenbriar Equity Group LLC, a transportation- and logistics-focused private equity firm.
Ford Motor Co. (F US) jumped 4.7 percent to $12.84, the highest price since Aug. 10. The automaker was rated “overweight” in new coverage by Morgan Stanley, which said the company’s revenue outlook is underestimated and that it is likely to regain an investment-grade debt rating.
F5 Networks Inc. (FFIV US) advanced 2.5 percent to $105.89, the highest price since its initial public offering in June 1999. The maker of software to handle Internet traffic and content was approached about a takeover more than a year ago, Reuters reported, without naming the people who provided the information. Talks ended over valuation, the newswire said.
Huron Consulting Group Inc. (HURN US) tumbled 15 percent to $19.14 for the biggest drop in the Russell 2000 Index. The financial and accounting consultant cut its 2010 revenue forecast by as much as $70 million, down from prior estimated range of $600 million to $620 million, because of a unit’s sale as well as project delays.
Isilon Systems Inc. (ISLN US) gained 8.9 percent to $25.16 for the biggest increase since Aug. 23. The maker of digital media storage devices is seeking bidders for a possible sale and has hired Qatalyst Partners to canvas acquirers, according to two people briefed on the matter.
Lexmark International Inc. (LXK US) dropped 3.3 percent, the most since Aug. 11, to $43.60. The maker of laser and inkjet printers was downgraded to “equalweight” from “overweight” at Barclays Capital with a $47 price estimate.
Polymer Group Inc. (POLGA US) plunged 29 percent, the most since December 2008, to $15.99. The chemical company, which was majority-owned by private equity firm MatlinPatterson Global Advisers LLC, said it agreed to be bought by an affiliate of Blackstone Capital Partners V LP for $18.16 in cash per share, with $2.91 held in escrow for possible tax liabilities.
Sara Lee Corp. (SLE US) jumped 7.2 percent to $14.40 for the biggest advance in the Russell 1000 Index. The maker of Jimmy Dean breakfast foods rejected a $12 billion leveraged buyout offer by KKR & Co., according to the New York Post, which cited a person familiar with the situation.
Sinovac Biotech Ltd. (SVA US) gained 4.8 percent to $4.04 for the biggest decline since Sept. 9. The Beijing-based biopharmaceutical company may be a potential vaccine manufacturing partner for the Gates Foundation, Piper Jaffray Cos. said.
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