Camac Energy, Finish Line, JPMorgan, Orbitz: 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.
Banks advanced after Federal lawmakers agreed to fund the government at current levels through March 4, denying budget increases U.S. financial regulators needed to meet new responsibilities imposed by the Dodd-Frank Act.
JPMorgan Chase & Co. (JPM) rose 2.8 percent to $42.16. Regions Financial Corp. (RF) gained 7.1 percent to $6.91 for the biggest gain in the S&P 500 Index. First Horizon National Corp. (FHN) increased 4.2 percent to $11.75.
Bank of America Corp. (BAC US) rose 3.1 percent, the most in the Dow Jones Industrial Average, to $13.38. Information that may be released by WikiLeaks is unlikely to be new, said Dick Bove, an analyst at Rochdale Securities.
Arena Pharmaceuticals Inc. (ARNA) fell 12 percent to $1.80, the lowest price since Dec. 17. The drugmaker said it would reapply for clearance of lorcaserin, the weight-loss drug that failed to win a U.S. advisory panel’s recommendation.
Camac Energy Inc. (CAK) declined the most in the Russell 2000 Index, sliding 22 percent to $2.07. The oil and gas company said it sold 9.09 million shares for $2.20 a share to some investors.
Cumberland Pharmaceuticals Inc. (CPIX) dropped 11 percent, the most since May 14, to $6.15. The Nashville, Tennessee-based drugmaker said it received a complete response letter from the U.S. Food and Drug Administration on its supplemental new drug application for Acetadote injection to treat patients with non-acetaminophen induced acute liver failure.
Nike Inc. (NKE) slipped 5.8 percent to $86.95 for the biggest decline in the S&P 500. The world’s largest maker of athletic shoes reported second-quarter revenue of $4.84 billion, compared with the average estimate of $4.82 billion. Future orders for December to April also rose 11 percent for a total of $7.7 billion, excluding currency fluctuations, from a year ago. That missed the 12.4 percent gain anticipated by some analysts.
Finish Line Inc. (FINL) , an athletic apparel retailer, dropped 7.1 percent to $17.45.
Office Depot Inc. (ODP) rose 9.1 percent to $5.28, the highest price since June 17. The second-largest U.S. office-supply chain boosted executives’ pay in the event of a sale, spurring buyout speculation.
Orbitz Worldwide Inc. (OWW) fell 5.8 percent, the most since Nov. 19, to $6.07. AMR Corp.’s (AMR US) American Airlines won a court ruling allowing it to pull listings from Orbitz and said it will immediately stop displaying and selling tickets on the online travel site.
Oxford Industries Inc. (OXM) jumped 22 percent, the most since March 2009, to $26.97. The maker of Tommy Bahama clothing said it bought Sugartown Worldwide Inc. for $60 million.
Progress Software Corp. (PRGS) rose 5.4 percent to $43.38, the highest price since July 1991. The maker of business programs raised its 2011 earnings forecast higher than the average analyst estimate and boosted its projection for revenue next year.
Walgreen Co. (WAG) gained 5.5 percent to $38.85 for the second-biggest increase in the S&P 500. The largest U.S. drug-store chain had fiscal first-quarter profit of 62 cents a share. Analysts surveyed by Bloomberg had estimated profit of 54 cents on average.
Whitney Holding Corp. (WTNY US) soared 29 percent to $14 for the biggest gain in the Russell 2000 Index. The lender to the oil and gas industries agreed to sell itself to Hancock Holding Co. (HBHC) for $1.5 billion, or $15.48 a share. Hancock fell 5.4 percent to $35.04.
To contact the reporter for this story: Lu Wang in New York at email@example.com
To contact the editor responsible for this story: Nick Baker at firstname.lastname@example.org.