CBOE, Corrections, Geo Group, FXCM, SanDisk: U.S. Equity Movers
Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 2:10 p.m. in New York.
Airlines advanced after the Air Transport Association said the industry will carry a record number of international travelers from June through August, leading to a 1.5 percent overall increase in passengers. Delta Air Lines Inc. (DAL) climbed 3.3 percent to $11. AMR Corp. (AMR) rose 4.9 percent to $6.69. United Continental Holdings Inc. (UAL) gained 2.2 percent to $26.15.
Benihana Inc. (BNHN) fell 11 percent, the most since November 2009, to $8.97, the most intraday since March 2010. The operator of the nation’s largest chain of Japanese-theme restaurants terminated a possible sale process and proposed eliminating its dual-class stock structure.
Brookfield Residential Properties Inc. (BRP US) climbed 10 percent to $11.20, the most since April 4. Shares of the Toronto-based company may double in the next year or two as its profitable operations in Canada boost earnings, Barron’s reported, citing Eytan Friedman, a private investor who owns the shares.
CNinsure Inc. (CISG) surged 32 percent, the most since October 2007, to $17.32. The insurance company and brokerage based in Guangzhou, China, received a non-binding proposal to acquire the company for $19 a share from a group including Kingsford Resources Ltd., TPG Asia V MU Inc. and Chairman Yinan Hu, according to a regulatory filing.
Conmed Healthcare Management Inc. (CONM) jumped 21 percent, the most since April 2009, to $3.70. The Hanover, Maryland-based company that offers health-care services in jails and prisons hired Gleacher & Co. to explore a potential sale or acquisitions.
Corrections Corp. of America (CXW US) slumped 10 percent, the most since February 2009, to $23.37. The U.S. Supreme Court agreed to decide whether employees of private prison operators can be sued for violating the constitutional rights of inmates. The justices said they will hear arguments from five Geo Group Inc. (GEO) employees seeking to stop a lawsuit by a California inmate who says he was mistreated by prison workers after breaking both elbows in an accident.
Geo Group slipped 4.3 percent to $24.34.
EnerNOC Inc. (ENOC) climbed 20 percent, the most since November 2008, to $20.42. The provider of a service to help reduce electricity demand said it expects revenue from PJM Interconnection LLC, the largest U.S. wholesale power market, of more than $275 million in 2014, based on the results of PJM’s 2014/2015 Reliability Pricing Model Base Residual Auction.
FXCM Inc. (FXCM) slumped 17 percent to $9.97, the biggest decline in the Russell 2000 Index. The foreign-exchange trading services provider reported first-quarter adjusted earnings of 18 cents a share, falling short of the average analyst estimate by 2 cents.
NYSE Euronext (NYX) dropped 13 percent to $35.73 for the biggest retreat in the S&P 500. Nasdaq OMX Group Inc. (NDAQ) and IntercontinentalExchange Inc. (ICE) pulled their offer to buy the owner of the New York Stock Exchange after talks with U.S. regulators showed they wouldn’t secure antitrust approval, clearing the path for Deutsche Boerse AG (DB1) (DB1 GY).
Orthovita Inc. (VITA) rallied 40 percent to $3.83 for the biggest increase since October 2001. The spine and orthopedic biosurgery company agreed to be bought by Stryker Corp. (SYK US) for $316 million, or $3.85 a share.
Primedia Inc. (PRM) rose the most in the Russell 2000 Index, soaring 60 percent to $7.02. The media company majority- owned by KKR & Co. agreed to sell itself to an affiliate of TPG Capital in a deal valued at about $525 million, or $7.10 a share.
SanDisk Corp. (SNDK) rose 3.2 percent to $47.95 for its biggest gain since April 20. The maker of flash-memory cards agreed to buy Pliant Technology Inc. for $327 million in a bid to expand sales of storage devices to business customers.
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