Bloomberg News

Beam, F5 Networks, Humana, MEMC, Omnivision: U.S. Equity Movers

October 04, 2011

Oct. 4 (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.

Financial stocks rallied after a report in the Financial Times that European officials were examining ways to coordinate the recapitalization of Banks. Morgan Stanley (MS US) advanced 12 percent, the most in the Standard & Poor’s 500 Index, to $14.01. JPMorgan Chase & Co. (JPM US) advanced 6.6 percent to $30.26 for the biggest gain in the Dow Jones Industrial Average. Bank of America Corp. (BAC US) rose 4.2 percent to $5.76.

Amedisys Inc. (AMED US) slumped 14 percent to $11.53, while Gentiva Health Services Inc. (GTIV US) slid 18 percent to $3.02. The home-care providers were cut to “hold” from “buy” at Deutsche Bank AG, which said the findings from a Finance Committee report that the companies added visits to Medicare patients to trigger federal bonuses could lead to further investigations or even Medicare rate cuts.

AMR Corp. (AMR US) surged 21 percent, the most in the Russell 1000 Index, to $2.39 after losing 33 percent yesterday. The parent of American Airlines advanced after several analysts said an American bankruptcy filing is unlikely. Rodman & Renshaw upgraded the airline to “market outperform” from “market perform.” Capstone Investments Inc. boosted the company to “buy” from “hold.”

JetBlue Airways Corp. (JBLU US) rose 8 percent to $3.77.

Beam Inc. (BEAM US) jumped 6.8 percent to $44.75. The maker of Jim Beam bourbon began trading on the New York Stock Exchange after changing its name from Fortune Brands Inc., as the company completed the spinoff of Fortune Brands Home & Security Inc. (FBHS US).

F5 Networks Inc. (FFIV US) rose 10 percent, the most since October 2010, to $77.63. The software maker had “significantly improved performance” during the September quarter, William Blair & Co. said in a note.

MEMC Electronic Materials Inc. (WFR US) gained 9.3 percent, the most since Aug. 23, to $5.19. The maker of silicon wafers was boosted to “buy” from “neutral” at Gilford Securities Inc.

Nvidia Corp. (NVDA US) advanced 9.2 percent, the most since Aug. 23, to $12.90. The maker of graphics chips was named by Bank of America Corp. among semiconductor companies as “key beneficiaries” of growing demand for smartphones.

Omnivision Technologies Inc. (OVTI US) gained 19 percent, the most since Feb. 25, to $15.08. The primary supplier of camera sensors for the iPhone 4S surged as Apple Inc. (AAPL US) Chief Executive Officer Tim Cook unveiled the new device.

Polycom Inc. (PLCM US) jumped 10 percent, the most since April 25, to $19.52. The largest independent maker of videoconference systems was boosted to “overweight” from “equalweight” at Barclays Plc.

Transcept Pharmaceuticals Inc. (TSPT US) rose 34 percent to $8.08, the highest price since July 12. The developer of psychiatry and sleep medicine-related products said the U.S. Food and Drug Administration will finish reviewing its Intermezzo new drug application by Nov. 27.

Yahoo! Inc. (YHOO US) gained 6.9 percent, the most since Aug. 29, to $14.46. The private-equity firm Silver Lake, Alibaba Group Holding Ltd. and Russia’s Digital Sky Technologies are discussing a possible joint bid for the most-visited U.S. Web portal, three people with direct knowledge of the matter said.

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

To contact the reporter on this story: Kaitlyn Kiernan at kkiernan2@bloomberg.net.

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


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