Allos, Alcoa, Nabors, Natus Medical, Skyline: 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 the close in New York.
Energy stocks advanced. Denbury Resources Inc. (DNR) jumped 9.6 percent to $12.84 for the biggest gain in the Standard & Poor’s 500 Index. Nabors Industries Ltd. (NBR) rose 6.6 percent to $14.31. Tesoro Corp. (TSO) increased 7.8 percent to $24.38. Chevron Corp. (CVX) gained 4 percent to $98.20. Alpha Natural Resources Inc. (ANR) rallied 8.9 percent to $20.03.
Metals producers gained as copper rose to the highest point in almost two weeks. Alcoa Inc. (AA) advanced 3.9 percent to $10.09. Cliffs Natural Resources Inc. (CLF) increased 8.7 percent to $60.70. Freeport-McMoRan Copper & Gold Inc. (FCX) jumped 5.9 percent to $36.03. U.S. Steel Corp. (X US) climbed 5.1 percent to $22.83.
Banks rose after German Chancellor Angela Merkel and French President Nicolas Sarkozy said yesterday they will deliver a plan to recapitalize European banks and address the Greek debt crisis by the Nov. 3 Group of 20 summit.
Bank of America Corp. (BAC) climbed 6.4 percent, the most in the Dow Jones Industrial Average, to $6.28. Morgan Stanley (MS) rose 7.4 percent to $15.29. JPMorgan Chase & Co. (JPM) gained 5.2 percent to $32.30.
Allos Therapeutics Inc. (ALTH) slumped 18 percent, the most since December 2008, to $1.43. The cancer drug developer said an anonymous bidder has withdrawn a takeover offer of $2.20 a share in cash and stock. Amag Pharmaceuticals Inc. (AMAG) , which is also vying to acquire Allos, gained 2.6 percent to $13.51.
Complete Production Service Inc. (CPX US) surged the second-most in the Russell 2000, gaining 39 percent to $28.42. Superior Energy Services Inc. (SPN) will acquire the Houston- based oil and natural gas company for about $2.6 billion, a 29 percent premium over Complete’s two-month average stock price. Superior Energy lost 14 percent to $23.63.
Insmed Inc. (INSM) fell the most in the Russell 2000, plunging 31 percent to $3.01. The maker of drugs for endocrine disorders said the U.S. Food and Drug Administration is continuing a clinical hold on its phase 3 trials for Arikace in cystic fibrosis patients with lung disease.
Micron Technology Inc. (MU) gained 4.2 percent to $5.16, the highest price since Sept. 29. The largest U.S. maker of computer-memory chips was boosted to “buy” from “hold” at Citigroup Global Markets Inc.
Natus Medical Inc. (BABY) slipped 9 percent to $7.85, the lowest price since March 2009. The maker of diagnostic products for hospitals said fourth-quarter profit will be less than forecast as orders in the neurology unit are delayed or reduced.
Oshkosh Corp. (OSK) rose 5.9 percent to $17.63, the highest price since Sept. 20. The biggest supplier of armored trucks to the U.S. military said union workers voted to reject a second five-year contract offer. Talks will continue, the Oshkosh, Wisconsin based-company said.
Skyline Corp. (SKY) dropped 20 percent to $7.30, the second-biggest decline in the Russell 2000 Index. The Elkhart, Indiana-based maker of mobile homes reported a first-quarter loss of 82 cents per share.
Sprint Nextel Corp. (S) sank 7.9 percent, the most in the S&P 500, to $2.22. The third-largest wireless operator had its rating cut by at least six analysts after the carrier’s Oct. 7 investor meeting. The analysts cited concerns that rising spending will hurt liquidity.
Starwood Hotels & Resorts Worldwide Inc. (HOT) rose 7.2 percent, the most since May 2010, to $43.88. The owner of the Sheraton and W brands may double as it remakes itself into a manager, rather than an owner, of hotels, Barron’s reported.
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