Stocks on the Move: Rio Tinto, Coinstar, Imperial Sugar
Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 1:45 p.m. in New York. Mining and steel companies advanced as investors anticipated faster economic growth next year after the Standard & Poor's/Case-Shiller home-price index showed home prices in 20 U.S. cities increased in October for a fifth consecutive month. BHP Billiton (BHP), the world's largest mining company, advanced 0.5% to 76.17. Rio Tinto (RTP) gained 1.5% to 216.70. ArcelorMittal (MT), the world's largest steelmaker, rose 1.4% to 46.31. Real estate-related shares advanced after the home-price report. CB Richard Ellis Group (CBG), the largest publicly traded commercial property broker, climbed 1.3% to 13.89. Fannie Mae (FNM), a mortgage-finance company, rose 2% to 1.30. Ampal-American Israel (AMPL) rose 14% to 3, its biggest intraday move since Nov. 23. The company, which invests in Israel-related businesses, said its East Mediterranean Gas unit agreed to sell gas to Makhteshim-Agan Industries. AspenBio Pharma (APPY) rallied 21% to 1.88 after having climbed 38% earlier, the most intraday since June 12. The biotechnology company said it is starting interim trial data analysis on AppyScore, a blood-based screening and triage test for appendicitis, and expects to meet with the U.S. Food & Drug Administration in January. China Wind Systems (CWS) advanced 17% to 6.40 after rising earlier as much as 27%, the most intraday since Oct. 13. The provider of components for wind turbines began trading on the Nasdaq. Coinstar (CSTR) rose 2.5% to 27.79 and climbed 3.2% earlier, the most intraday since Dec. 15. The owner of Redbox movie-rental kiosks was rated a new "buy" at Global Hunter Securities, with a 12-month share-price estimate of 45. Cosan (CZZ) increased 2% to 8.66 after rising earlier to 8.97, the highest intraday price since September 2008. The world's biggest sugar-cane processor was raised to "overweight" from "neutral" at JPMorgan (JPM) by equity analyst Debbie Bobovnikova. The 12-month price estimate is 10. CTC Media (CTCM) added 11% to 15.44 for the biggest gain in the Russell 1000 Index. The U.S.-listed Russian TV network was raised to "buy" from "hold" at Deutsche Bank (DB) by equity analyst Julia Gordeyeva. H&R Block (HRB) climbed 1.7% to 22.30, and earlier rose to 22.39, the highest price since February. The U.S. tax preparer was raised to "outperform" from "market perform" at Barrington Research. Imperial Sugar (IPSU) rose 15% to 16.89, the most intraday since May. The maker of Imperial, Dixie, and Holly sweeteners said it settled the property insurance claim for a February 2008 industrial accident at its Port Wentworth, Ga., refinery for an aggregate cost of $345 million. Jefferies Group (JEF) increased 1.9% to 23.66 and gained 4% earlier, the most intraday since Dec. 14. The New York-based brokerage was raised to "outperform" from "market perform" at Keefe, Bruyette & Woods by equity analyst Lauren Smith. Potash Corp. of Saskatchewan (POT) lost 2.5% to 108.95. The largest fertilizer maker declined after Renaissance Capital said that potash prices may fall next year, approaching production costs of European and North American producers, if a Chinese supply contract signed by OAO Uralkali fails to unlock global demand. Mosaic (MOS), North America's second-largest fertilizer maker, fell 2.3% to 59.43. Trimeris (TRMS) dropped 17% to 2.64 and sank earlier to 2.61, the lowest intraday price since Oct. 2. The maker of the HIV drug Fuzeon said Arigene terminated its offer to buy the company after failing to obtain "sufficient" funding. Vivus (VVUS) added 0.4% to 9.71 and earlier climbed 4% in the biggest intraday rally in a week. The biotechnology company said it submitted a new drug application to the U.S. FDA for approval of Qnexa, its investigational drug for the treatment of obesity. YRC Worldwide (YRCW) rose 5.3%t to 1 and earlier climbed 12%, the most intraday in a week. The largest U.S. trucking company extended for the fifth time this month the deadline for a bond exchange, until 11:59 p.m. today in New York, as participation remained below a required threshold. —With assistance from Nikolaj Gammeltoft and Lu Wang in New York. Editors: Michael Regan, Stephen Kleege
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