Bloomberg News

AOL, Hansen Medical, Human Genome, NuVasive: U.S. Equity Movers

September 21, 2011

Sept. 21 (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. in New York.

Coal producers slumped after Alpha Natural Resources Inc. (ANR US) and Walter Energy Inc. (WLT US) cut output and sales forecasts, respectively.

Alpha fell 17 percent to $22.30 while Walter dropped 12 percent to $66.25. Arch Coal Inc. (ACI US) lost 11 percent to $16.12. Patriot Coal Corp. (PCX US) retreated 11 percent to $10.11. Peabody Energy Corp. (BTU US) declined 6.9 percent to $39.96. James River Coal Co. (JRCC US) sank 15 percent to $7.74.

Railroad stocks slid on concern shipping demand from the coal industry will weaken. CSX Corp. (CSX US) erased 8.1 percent to $18.59. Norfolk Southern Corp. (NSC US) sank 8.3 percent to $61.93. Union Pacific Corp. (UNP US) lost 6 percent to $83.07.

Allos Therapeutics Inc. (ALTH US) rallied 12 percent, the most since Nov. 5, to $1.83. The cancer drug developer said it received a higher takeover offer of $2.20 a share in cash and stock from “Allos Company A,” an entity formed by an anonymous bidder. Amag Pharmaceuticals Inc. (AMAG US), which is also vying to acquire Allos, rose 3.2 percent to $14.71.

Analogic Corp. (ALOG US) climbed 4.4 percent, the most since Aug. 23, to $46.69. The medical and airport-security device maker reported fourth-quarter earnings of 83 cents a share, beating the 62 cent average estimate of two analysts.

AOL Inc. (AOL US) sank 16 percent, the most since Aug. 9, to $11.77. The Web services company won’t merge with Yahoo! Inc. (YHOO US) in the near future, TheWrap reported, citing Arianna Huffington, editor of the Huffington Post, which was bought by AOL in March.

Atlas Air Worldwide Holdings Inc. (AAWW US) slipped 13 percent, the most since August 2010, to $37.65. The U.S. carrier of freight for airlines was cut to “neutral” from “buy” at SunTrust Robinson Humphrey Inc.

First Solar Inc. (FSLR US) fell 7.2 percent to $73.52, the lowest price since June 2007. The House of Representatives Committee on Energy and Commerce sent a letter yesterday to the Department of Energy, saying it is “concerned” about a rush to complete loan guarantees. The world’s largest maker of thin-film solar modules is awaiting final approval for three projects by Sept. 30, and the projects’ rejection would have a “material negative impact” on forecast earnings per share, according to Collins Stewart LLC.

Freeport-McMoRan Copper & Gold Inc. (FCX US) slipped 7.7 percent to $35.59, the lowest price since August 2010. The world’s largest publicly traded copper said a strike at its Grasberg mine in Indonesia will cut 3 million pounds of daily copper production.

General Mills Inc. (GIS US) rose 2.5 percent, the most since Jan. 29, to $38.44. The maker of Cheerios cereal posted first-quarter adjusted earnings per share and sales that exceeded the average analyst estimate, Bloomberg data show.

Hansen Medical Inc. (HNSN US) dropped 11 percent, the most since Aug. 8, to $3.72. The maker of medical robotics’s Chief Executive Officer Bruce J. Barclay said the company expects to strengthen its cash position in the future. He spoke at the UBS Global Life Science Conference.

Hewlett-Packard Co. (HPQ US) rose 6.7 percent, the most intraday since March 2009, to $23.98. The world’s largest personal-computer maker’s board plans to meet to consider whether to oust Leo Apotheker as chief executive officer after less than 11 months on the job, two people familiar with the matter said. Directors may appoint former EBay Inc. CEO Meg Whitman as his successor, possibly on an interim basis, said one of the people, who asked not to be named because the plans aren’t public.

Human Genome Sciences Inc. (HGSI US) soared 12 percent, the most since March 10, to $14.58. Sales of the Rockville, Maryland-based drugmaker’s Benlysta, the first new treatment for lupus in 52 years, rose 33 percent month to month in August.

NuVasive Inc. (NUVA US) retreated 12 percent, the most since Oct. 29, to $18.65. The maker of spinal-surgery products lost a patent-infringement trial brought by Medtronic Inc. (MDT US), which accused NuVasive of infringing three patents for implants capable of being inserted trans-laterally between adjacent vertebrae, a plate and screw system used to stabilize vertebrae in the cervical spine and a tissue retractor, according to court filings. Medtronic Inc. won a $101.2 million jury award.

Oracle Corp. (ORCL US) gained 4.2 percent to $29.54, the highest price since Aug. 3. The Redwood City, California-based software supplier reported a first-quarter profit of 48 cents a share, topping analysts’ estimates by 1 cent, as companies increased spending on database software and applications that help run their businesses.

Odyssey Marine Exploration Inc. (OMEX US) slumped 33 percent to $2.16, the biggest decline in the Russell 2000. An appeals court upheld a ruling that property the company that searches for treasure recovered from a sunken ship code-named “Black Swan” must be returned to Spain.

Orexigen Therapeutics Inc. (OREX US) surged 50 percent, the most in the Russell 2000 Index, to $2.19. The drugmaker, which is one of three companies with rival obesity treatments competing for approval, is renewing development of the experiment obesity drug Contrave after reaching an agreement with U.S. regulators to further study heart risks.

Pacific Biosciences of California Inc. (PACB US) fell 24 percent to $4.25, the lowest price since its initial public offering in October. The maker of gene-mapping systems said it plans to cut about 28 percent of its workforce and record a restructuring charge of about $5.2 million in the third quarter. The shares were cut to “neutral” from “overweight” at Piper Jaffray Cos. and to “underweight” from “neutral” at JPMorgan Chase & Co.

Range Resources Corp. (RRC US) rose 4.7 percent to $67.96, the highest price since June 2008. The shares rose on a rumor that Royal Dutch Shell PLC was interested in acquiring the natural gas producer that is one of the biggest landholders in the Marcellus Shale field in Pennsylvania, the Wall Street Journal reported. Range Resources wasn’t formally approached by Shell, the Journal said, citing people familiar with the situation.

Silicon Image Inc. (SIMG US) jumped 10 percent to $6.51, the highest price since Aug. 3. The designer of chips that transmit television signals got a “buy” rating in new coverage by Craig-Hallum Capital Group LP.

--With assistance from Whitney Kisling, Nikolaj Gammeltoft, Inyoung Hwang and Lu Wang in New York. Editor: Stephen Kleege

To contact the reporters on this story: Kaitlyn Kiernan in New York at kkiernan2@bloomberg.net;

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


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