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BioSante, CVR Energy, H&E, Sigma Designs: U.S. Equity Movers

By Lu Wang - Mar 3, 2011

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.

Acacia Research (ACTG US) rallied 16 percent to $33.93, the highest price since at least December 2002. The owner of technology patents resolved patent matters with Samsung Electronics Co., according to a regulatory filing.

America Service Group Inc. (ASGR) surged 47 percent, the most intraday since its initial public offering in November 1991, to $25.65. The health-care provider for U.S. prisons agreed to be bought by Valitas Health Services Inc. for $26 a share. America Service plans to seek superior proposals for 45 days.

Amylin Pharmaceuticals Inc. (AMLN) and Alkermes Inc. (ALKS) fell after the companies’ diabetes drug Bydureon didn’t control the disease better than Novo Nordisk A/S’ Victoza in a study.

Amylin Pharmaceuticals plunged 25 percent to $11.20 for the biggest retreat in the Russell 1000 Index. Alkermes dropped 11 percent to $12.56.

BioSante Pharmaceuticals Inc. (BPAX) gained 5.9 percent to $2.15, the first increase in three days. The developer of hormone-replacement products said its pancreas cancer vaccine increased survival rate by more than 25 percent in a study.

Central European Media Enterprises Ltd. (CETV) rose 6.7 percent to $20.68, the highest price since Jan. 7. Time Warner Inc. (TWX US) increased its stake in the broadcaster known as CME to 34.4 percent after buying 3.1 million shares yesterday, according to a regulatory filing.

China New Borun Corp. (BORN) jumped 12 percent to $13.25 for the biggest gain since Jan. 24. The supplier of grain alcohol to makers of the country’s traditional spirits forecast first-quarter sales of $82 million at least. That beat Cowen & Co.’s estimate of $78.4 million.

Coventry Health Care Inc. (CVH) had the fourth-biggest gain in the Standard & Poor’s 500 Index, adding 5.7 percent to $32.30. The managed health-care company was raised to “buy” from “hold” at Stifel Nicolaus & Co.

CVR Energy Inc. (CVI) rose 8.4 percent, the most since Nov. 2, to $20.42. The Sugar Land, Texas-based oil refiner reported fourth-quarter sales of $1.15 billion, topping the average estimate of $1.04 billion from two analysts in a Bloomberg survey.

Fuel Systems Solutions Inc. (FSYS) slid 11 percent, the most since June 2009, to $24.80. The provider of alternative fuel systems forecast 2011 sales of $400 million at most, trailing the average analyst estimate of $402.4 million, Bloomberg data show.

Global Defense Technology & Systems Inc. (GTEC) rose the most in the Russell 2000 Index, rallying 51 percent to $24.25. The maker of counter-terrorism systems agreed to be bought by Ares Management LLC for $24.25 a share.

H&E Equipment Services Inc. (HEES) climbed 16 percent, the most since March 2009, to $18.64. The Baton Rouge, Louisiana-based company that rents and sells construction equipment posted an adjusted fourth-quarter loss of 7 cents a share, narrower than the average analyst estimate of 16 cents from a Bloomberg survey.

LHC Group Inc. (LHCG) declined 6.9 percent, the most since July 1, to $27.98. The provider of rural health-care services reported fourth-quarter earnings of 63 cents a share excluding some items, missing the average analyst estimate by 4.8 percent. LHC was cut to “hold” from “buy” at Jefferies & Co. Inc. The 12-month price estimate is $26.

Motorola Mobility Holdings Inc. (MMI US) slipped 5.6 percent to $26.78, the biggest decline in the Standard & Poor’s 500. The mobile-phone maker was cut to “neutral” from “outperform” by Cowen & Co. analyst Matthew Hoffman, who cited competition for the company’s XOOM tablet from Apple Inc.’s iPad 2, being introduced next week.

Opka Health Inc. (OPK US) declined 7.6 percent, the most since Aug. 11, to $4.25. The Miami-based drugmaker announced an offering of $100 million of stock.

Radio One Inc. (ROIAK) dropped 11 percent, the most since Nov. 23, to $1.92. The operator of AM and FM stations reported a fourth-quarter net loss of 52 cents a share.

Sauer-Danfoss Inc. (SHS) soared 33 percent, the most since at least May 1998, to $40.18. The maker of mobile hydraulic systems forecast 2011 earnings of at least $3 a share and sales to grow more than 10 percent.

Sigma Designs Inc. (SIGM) dropped 13 percent, the most since August 2009, to $11.91. The maker of processors for Internet television set-top boxes and Blu-ray video players forecast first-quarter sales of $65 million at most. Analysts, on average, had estimated $67.6 million, according to a Bloomberg survey.

Teradata Corp. (TDC) climbed 6.3 percent to $50.55, the highest price since at least September 2007. The data-storage software company said it agreed to buy the 89 percent of Aster Data Systems Inc. that it doesn’t own for $263 million.

Valero Energy Corp. (VLO) advanced the most in the S&P 500, climbing 7.7 percent to $28.98. The independent U.S. refiner said it expects to earn as much as 30 cents a share in the first quarter, after recording a loss of $348 million on forward sales of refined products. That the company has closed out the positions “removes a negative,” Credit Suisse Group AG said in a note. Tesoro Corp. (TSO) rose 7.5 percent to $25.10.

Wendy’s/Arby’s Group Inc. (WEN US) jumped 7.7 percent, the most since June 2009, to $5.10. The third-biggest U.S. hamburger chain said a possible sale of the Arby’s brand would increase earnings and free cash flow.

Zumiez Inc. (ZUMZ) added 5.5 percent, the most since Jan. 26, to $27.36. The retailer based in Everett, Washington, said February comparable sales increased 12.8 percent, more than the average analyst estimate of a 3.2 percent rise.

To contact the reporter on this story: Lu Wang in New York at lwang8@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net

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