Oct. 10 (Bloomberg) -- Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of the close in New York.
Commodity shares rallied as raw material prices rose after the leaders of France and Germany pledged a plan to stem Europe’s debt crisis in three weeks.
Energy stocks advanced. Denbury Resources Inc. (DNR US) jumped 9.6 percent to $12.84 for the biggest gain in the Standard & Poor’s 500 Index. Nabors Industries Ltd. (NBR US) rose 6.6 percent to $14.31. Tesoro Corp. (TSO US) increased 7.8 percent to $24.38. Chevron Corp. (CVX US) gained 4 percent to $98.20. Alpha Natural Resources Inc. (ANR US) rallied 8.9 percent to $20.03.
Metals producers gained as copper rose to the highest point in almost two weeks. Alcoa Inc. (AA US) advanced 3.9 percent to $10.09. Cliffs Natural Resources Inc. (CLF US) increased 8.7 percent to $60.70. Freeport-McMoRan Copper & Gold Inc. (FCX US) jumped 5.9 percent to $36.03. U.S. Steel Corp. (X US) climbed 5.1 percent to $22.83.
Banks rose after German Chancellor Angela Merkel and French President Nicolas Sarkozy said yesterday they will deliver a plan to recapitalize European banks and address the Greek debt crisis by the Nov. 3 Group of 20 summit.
Bank of America Corp. (BAC US) climbed 6.4 percent, the most in the Dow Jones Industrial Average, to $6.28. Morgan Stanley (MS US) rose 7.4 percent to $15.29. JPMorgan Chase & Co. (JPM US) gained 5.2 percent to $32.30.
Allos Therapeutics Inc. (ALTH US) slumped 18 percent, the most since December 2008, to $1.43. The cancer drug developer said an anonymous bidder has withdrawn a takeover offer of $2.20 a share in cash and stock. Amag Pharmaceuticals Inc. (AMAG US), which is also vying to acquire Allos, gained 2.6 percent to $13.51.
Complete Production Service Inc. (CPX US) surged the second-most in the Russell 2000, gaining 39 percent to $28.42. Superior Energy Services Inc. (SPN US) will acquire the Houston- based oil and natural gas company for about $2.6 billion, a 29 percent premium over Complete’s two-month average stock price. Superior Energy lost 14 percent to $23.63.
Insmed Inc. (INSM US) fell the most in the Russell 2000, plunging 31 percent to $3.01. The maker of drugs for endocrine disorders said the U.S. Food and Drug Administration is continuing a clinical hold on its phase 3 trials for Arikace in cystic fibrosis patients with lung disease.
Micron Technology Inc. (MU US) gained 4.2 percent to $5.16, the highest price since Sept. 29. The largest U.S. maker of computer-memory chips was boosted to “buy” from “hold” at Citigroup Global Markets Inc.
Natus Medical Inc. (BABY US) slipped 9 percent to $7.85, the lowest price since March 2009. The maker of diagnostic products for hospitals said fourth-quarter profit will be less than forecast as orders in the neurology unit are delayed or reduced.
Oshkosh Corp. (OSK US) rose 5.9 percent to $17.63, the highest price since Sept. 20. The biggest supplier of armored trucks to the U.S. military said union workers voted to reject a second five-year contract offer. Talks will continue, the Oshkosh, Wisconsin based-company said.
Skyline Corp. (SKY US) dropped 20 percent to $7.30, the second-biggest decline in the Russell 2000 Index. The Elkhart, Indiana-based maker of mobile homes reported a first-quarter loss of 82 cents per share.
Sprint Nextel Corp. (S US) sank 7.9 percent, the most in the S&P 500, to $2.22. The third-largest wireless operator had its rating cut by at least six analysts after the carrier’s Oct. 7 investor meeting. The analysts cited concerns that rising spending will hurt liquidity.
Starwood Hotels & Resorts Worldwide Inc. (HOT US) rose 7.2 percent, the most since May 2010, to $43.88. The owner of the Sheraton and W brands may double as it remakes itself into a manager, rather than an owner, of hotels, Barron’s reported.
--With assistance from Nikolaj Gammeltoft, Inyoung Hwang, Whitney Kisling and Alex Nussbaum in New York. Editors: Stephen Kleege, Joanna Ossinger
To contact the reporter on this story: Kaitlyn Kiernan in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Nick Baker at email@example.com