Bloomberg News

Dex One, Gentiva, Harbin Electric, Molycorp: U.S. Equity Movers

June 20, 2011

June 20 (Bloomberg) -- 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.

Acura Pharmaceuticals Inc. (ACUR US) rallied 16 percent, the most since April 4, to $4.50. The Palatine, Illinois-based drug-maker and Pfizer Inc. (PFE US) won U.S. approval for the first short-acting painkiller that discourages users from snorting or injecting it for a quick high.

Almost Family Inc. (AFAM US) declined 14 percent, the most since February 2009, to $23.95. Robert W. Baird & Co. downgraded the home-nursing company to “underperform” from “neutral” and lowered the 12-month share-price estimate to $21 from $32, saying 2012 earnings-per-share estimates for the home health industry need to come down “dramatically.”

Gentiva Health Services Inc. (GTIV US) dropped 11 percent, the most since February 2009, to $19.41. Robert W. Baird & Co. downgraded the home-nursing company to “neutral” from “outperform” and lowered the 12-month share-price estimate to $23 from $35.

Biogen Idec Inc. (BIIB US) had the biggest gain in the Standard & Poor’s 500 Index, advancing 4.1 percent to $98.60. ISI Group Inc. raised the world’s largest maker of multiple sclerosis medicines to “buy” from “hold,” saying Biogen can quadruple earnings per share during the next six to seven years.

Carpenter Technology Corp. (CRS US) rose 8.4 percent to $51.92 for the biggest increase in the Russell 1000 Index. The specialty-metals producer said it agreed to acquire Latrobe for about $558 million in a deal that it expects to add immediately to earnings.

Chelsea Therapeutics International Ltd. (CHTP US) climbed 5.4 percent to $5.26, the highest price since Feb. 1. The biotechnology company completed a study confirming the cardiovascular safety of its Northera drug for neurogenic orthostatic hypotension, a condition in which blood pressure drops when a person stands.

Dex One Corp. (DEXO US) surged 38 percent to $2.90 for the second-biggest gain in the Russell 2000 Index. The business advertising company announced a partnership with Google Inc. that is part of its efforts to drive digital sales to 30 percent of total revenue by the end of 2012.

Harbin Electric Inc. (HRBN US) surged 59 percent, the most since at least January 2005, to $13.35. The Chinese maker of electric motors for passenger cars agreed to be bought by Chairman and Chief Executive Officer Tianfu Yang for $24 a share.

Molycorp Inc. (MCP US) jumped 7.2 percent to $52.44 for its biggest gain since May 3. Piper Jaffray upgraded the owner of the largest rare-earth deposit outside China to “overweight” from “neutral” with a price estimate of $73.

Research In Motion Ltd. (RIMM US) dropped 6.7 percent to $25.89, the lowest price since August 2006. Sanford Bernstein downgraded the maker of the BlackBerry smartphone to “underperform” from “market perform.”

Universal Stainless & Alloy Products Inc. (USAP US) rallied 13 percent, the most since September 2009, to $40.65. Davenport & Co. raised the specialty steel maker to “buy” from “neutral” and increased the 12-month target share price to $61 from $40 based on the company’s acquisition of the Patriot Special Metals facility.

--With assistance from Lu Wang, Arie Shapira, Cecile Vannucci, Michael J. Moore and Nikolaj Gammeltoft in New York. Editors: Joanna Ossinger, Jeff Sutherland

To contact the reporter on this story: Tori Stilwell in New York at vstilwell@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net


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