Aveo, Boston Scientific, Capstone Turbine:, Clarcor: 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. New York time.
Aveo Pharmaceuticals Inc. (AVEO) tumbled 8.1 percent to $17.54, the most since March 24. The drugmaker will sell shares to the public for the first time since its initial offering in March 2010.
Boston Scientific Corp. (BSX) rose 2.8 percent to $6.93, the biggest gain since May 25. The second-biggest maker of heart devices gained after Johnson & Johnson (JNJ) plans to stop making Cypher drug-coated heart stents and end development of a new model in a restructuring that will close two factories and cut as many as 1,000 jobs.
Johnson & Johnson fell 1.4 percent to $66.16.
Breakwater Resources Ltd. (BWR) surged 40 percent to $7.56, the highest price since May 2008. The mining company with operations in Canada, Honduras and Chile agreed to be bought by Nyrstar NV (NYR BB) for C$619 million ($639 million), or C$7 a share.
Capstone Turbine Corp. (CPST) dropped 17 percent to $1.42, the most since February 2009. The turbine maker reported a loss of 12 cents a share for the fourth quarter.
Clarcor Inc. (CLC) advanced 4.5 percent to $43.25, the most since May 2010. The maker of Baldwin air filters raised its 2011 earnings estimate to a range of $2.25 to $2.40 a share. Analysts project $2.31 a share, according to the average in a Bloomberg survey.
DST Systems Inc. (DST) jumped the most in the Russell 1000 Index, rallying 13 percent to $54.51. The seller of data- processing software and services received buyout offers from private-equity firms, Reuters reported, citing people familiar with the situation. The report said Russell Glass, owner of RDG Capital, offered DST a deal in the “mid-$60” per share range and was rejected.
J.C. Penney Co. (JCP US) slumped 3.5 percent to $34.12, the biggest decline since June 1. The third-largest U.S. department- store chain has earnings risk over the next several quarters because of market share loss, excess inventory and the inability to raise prices in a cost inflationary environment, according to Morgan Stanley.
Owens-Illinois Inc. (OI) dropped 14 percent to $25.54 for the biggest retreat in the S&P 500. The world’s biggest maker of glass bottles lowered its forecast for second-quarter profit margin because of higher costs and weaker demand in Australia, where it may idle a glass furnace.
Pandora Media Inc. (P US) rose on the first day of trading, jumping 8.9 percent to $17.42. The online-radio company raised $234.9 million in its initial public offering, pricing the shares above the top of the range as investors sought gains from a limited number of new Internet stocks.
Regeneron Pharmaceuticals Inc. (REGN) rose 5.1 percent to $57.82, the most since May 6. The company’s experimental treatment for a common cause of blindness prevents vision loss, U.S. regulators said, suggesting they may soon approve the new medicine known as VEGF Trap-Eye or aflibercept.
SunPower Corp. (SPWRA) fell the most in the Russell 1000 Index, slumping 15 percent to $17.66. An offer by France’s Total SA (FP FP) to purchase 60 percent of the second-largest U.S. solar panel maker was successfully completed and some investors were unable to sell their shares.
Tuesday Morning Corp. (TUES) dropped 8.6 percent to $4.25, the most since Jan. 11. The closeout home-furnishing retailer cut its full-year forecast, saying it expects to earn 30 cents a share at most. Analysts, on average, estimated profit of 32 cents, according to a Bloomberg survey.
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