BMC, Chelsea, M&T Bank, Marvel Technology: 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.
A123 Systems Inc. (AONE) jumped 11 percent to $6.13 for the biggest advance since July 26. The lithium-ion battery maker was raised to “buy” from “neutral” by Goldman Sachs Group Inc., which cited the company’s stronger balance sheet and the potential to climb to the firm’s price estimate of $9.
BMC Software Inc. (BMC) fell 3.2 percent, the most since Feb. 22, to $49.21. The business-software maker was cut to “hold” from “buy” at Citigroup Inc. (C), which said the company may not be hiring fast enough to fuel growth and may lower its 2012 earnings estimate.
Chelsea Therapeutics International Ltd. (CHTP) surged 22 percent to $4.86, the most in the Russell 2000 Index. The biotechnology company said that after meeting with U.S. Food and Drug Administration it plans to file a new drug application for its Northera treatment for neurogenic orthostatic hypotension during the third quarter.
Community Health Systems Inc. (CYH) slumped 4.4 percent to $30.50, the most intraday since April 11. The hospital operator said it is now offering $6 in cash for Tenet Healthcare Corp. (THC) Its previous offer was $5 in cash and $1 in stock.
Tenet (THC US) declined 2.6 percent to $6.49.
Demand Media Inc. (DMD US) fell the most since the shares began trading in January, sliding 11 percent to $17.33. The Internet content provider, which fell 20 percent from April 6 through April 15, said the impact of a Google Inc. algorithm change on traffic to its Websites is being overstated by “certain third parties,” and affirmed its forecast for 2011.
Evergreen Solar Inc. (ESLR) slumped 8.5 percent to $1.61 for its biggest decline since March 18. The U.S. maker of solar wafers was cut to “sell/speculative” from “hold/speculative” at Citigroup Inc., which said its core competitive strategy “will take too long to materialize.”
Hecla Mining Co. (HL) lost 7.8 percent, the most since Oct. 19, to $8.86. The precious-metals producer said it stopped mining at a Northern Idaho mine as it focuses on search and rescue operations for Larry Marek, who is missing after a roof collapsed in a tunnel about a mile underground.
Identive Group (INVE US) rose 11 percent to $3.74, the first gain in four days. The developer of identity management and physical access systems’ SCM Microsystems unit received an order for 10,000 eHealth terminals.
L&L Energy Inc. (LLEN) climbed 11 percent to $7.41, the highest price since March 18. The U.S.-based company operating coal businesses in China said entered two contracts to supply 700,000 tons of coal to China’s Kunming Iron & Steel Group Co.
M&T Bank Corp. (MTB) rose 2.2 percent, the most since March 17, to $87.21. The regional bank that counts Warren Buffett’s Berkshire Hathaway Inc. (BRK/A) (BRK/B US) among its largest shareholders posted earnings and sales that exceeded the average analyst projection, according to data compiled by Bloomberg.
Marvel Technology Group Ltd. (MRVL US) fell 4.6 percent to $15.24 for its biggest decline since March 4. The maker of the processor that runs BlackBerry smartphones was cut to “neutral” from “positive” at Susquehanna International Group in New York, which said the company’s results will depend on factors outside its control in the next few months.
Thoratec Corp. (THOR) rallied 9.9 percent, the most since April 2010, to $30.01. The maker of implantable heart devices was lifted to “outperform” from “market perform” by Frederick Wise, an analyst at Leerink Swann & Co., who cited market growth for the company’s HeartMate II therapy.
HeartWare International Inc. (HTWR) fell 12 percent, the most in the Russell 2000, to $73.63.
Titan Machinery Inc. (TITN) jumped 15 percent, the most since March 2009, to $30.97. The owner of full-service agricultural and construction equipment stores reported fourth- quarter earnings of 57 cents a share, topping the 36-cent average estimate by analysts.
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