Anadarko, Corinthian Colleges, Peregrine: 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.
Commodity shares gained after a report showed growth in China manufacturing. Alpha Natural Resources Inc. (ANR US) climbed 3.9 percent to $60.16, its highest price since September 2008. Walter Energy Inc. (WLT US) advanced 3.5 percent to $129.84, the highest price since at least March 1995.
Anadarko Petroleum Corp. (APC US) rallied 6.9 percent to $75.59 for the biggest gain in the Standard & Poor’s 500 Index. BHP Billiton Ltd. may make a $90-a-share bid for U.S. oil and natural-gas producer, the Daily Mail reported, without saying where it got the information.
Corinthian Colleges Inc. (COCO US) advanced 9.3 percent, the most since Sept. 9, to 5.18. The Santa Ana, California-based operator of for-profit schools rallied amid speculation investors are exiting bets that the stock will retreat, according to Trace Urdan, an analyst with Signal Hill Capital Group in San Francisco.
Endo Pharmaceuticals Holdings Inc. (ENDP US) jumped 1.6 percent, the most since Dec. 1, to $35.79. The drugmaker said in a statement that the U.S. Food and Drug Administration approved its Fortesta treatment for low testosterone and that it expects to introduce the drug in early 2011.
General Moly Inc. (GMO US) slid 4.6 percent, the most since Nov. 9, to $6.68. Hoku Corp. (HOKU US) jumped 11 percent, the most since Oct. 12, to $2.66. China said its restrictions on rare-earth exports protect the environment, are in compliance with its World Trade Organization commitments, and that other countries should step up their exploitation of the minerals after it cut its 2011 export quotas.
MBIA Inc. (MBI US) rose 15 percent, the most since Oct. 14, to $11.87. JPMorgan Chase Bank NA and Barclays Bank Plc said yesterday they are withdrawing from a lawsuit over the company’s decision to split its insurance unit in two.
Peregrine Pharmaceuticals Inc. (PPHM US) fell 5.2 percent to $2.20. The developer of antibodies to treat cancer and viral infections said in a regulatory filing it will sell as much as $75 million of stock.
Qiao Xing Universal Resources Inc. (XING US) rose 5.2 percent to $2.85, the highest price since September 2008. The mining company rallied for a second day after posting pictures of a recent mine purchase.
VisionChina Media Inc. (VISN US) climbed 21 percent, the most since October 2008, to $4.67. The company, which uses digital televisions to deliver advertisements on buses and trains in China, agreed to sell 15.3 million shares to Focus Media Holding Ltd. (FMCN US).
Focus Media gained 4.7 percent to $21.77.
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